River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1876-01-13
Bowen and Jay Cooke.
[New York World, Dec. aO. !

New York World, Dec. SOL
George w. Knaebel, Clerk Of the CITY
Court Of Brooklyn, received the return 10
a commission issued in the libel suit
against the Brooklyn Eagle to take the
testimony Of Edward NJ. Lewis, Presi.
dent of Farmers and Mechanics Ma.
lional Bank, in Philadelphia, on behalf of
the defendant. The witness testified that
he was elected one of the Trustees
estate Of Jay Cooke & Co. by the credi.
tors in January, 1871. As trustee of the
OF the estate, certain letters, receipts, and
entries in the books came into his posses.
sion, showing Henry G. Bowen's connec.
ton with the Company. The first ex.
hibit IN the testimony is letter from
Jay Cooke & Co. to Henry G. Bowen,
lated Philadelphia, Dec. 10, 1870, which
says:
The understanding between us, where.
by you fully and permanently identify
yourself, and your papers. and your Mr..
kibbe, and your nephew, with the in.
terests of the Northern Pacific Railroad
Company, is as follows:
On your part you give US all the sales
Of bonds made by the machinery of the
L
your services as editors or agents to go
and work for the interests of the bonds
from time to time as we may need your
erviccs out Of New York and Brooklyn.
You disconnect yourself from all other
enterprises, and work this one with all
your accustomed energy and fsithfulness.
You give the exclusive interest and in
huence of your money columns and edito.
rial columns to the enterprise and bonds
Of the Northern Pacific Railroad. On
our part we agree TO allow you per
cent stock commissions on all sales made
by you and your machinery, subject to
the instructions as to allowance, ETC., as
agents.
The letter goes on to state that they
will hold $500 on the original subscrp.
ton to the $5,000,000 fund, for Mr.. Bow
ems benefit, and they will credit him
with $4,000 as each s3,000.000 of bonds
are subscribed for. An endorsement OF
the letter, dated New York, Sept. 8,
1878" and signed by Cooke and Bowen,
states that, the contract having been
fully performed, it is declared null and
void. The copy GEARS an endorsement
signed by Bowen and Mr.. Kibbe, declar.
ing it to be correct copy of the agree
mont entered into. The second exhibit
is a letter from Mr., Bowen, dated April
Is, 1874, addressed to Jay Cooke d Co.,
stating that their Trustee had sent him a
statement asking HIM to pay some 49,
600, which must be erroneous, he writes,
as he had made full settlement and
took their receipt in full on Sept. A, pre-.
ced.ng. The rcceip' is also annexed as an
exhibit, as are also the entries from Jay
Cooke & Cos books.
WHAT BOWEN HIMSELF SAYS.
New York, Dec 81, 1875 To the ed.
itor of the New York Sun: Please
grant me space in the Sun to say that
made a verbal agreement with Jay Cooke
e. Co., in December, 1870, by which my.
self and three other parties were to de-
vote much time and attention for years to
the interests of the Northern Pacific rail
road. We all honestly believed the en-.
terprise TO be a good one, and that 1t had
the men, and could easily command the
IN cans necessa; y TO achieve what was an
dertaken. The verbal agreement thus
made, it was suggested by Mr.. Cooke,
should be put in writing; and one morn.
ing when he was in New York | was re.
quested to call at his Office at 9: 80 o'clock
las he was to leave for Philadelphia at Ii
'clOck,) and receive from him such doc
ument. | called, found him crowded
with visitors, and at late moment re.
ceived what purported to be a letter
addressed to me. Mr.. Cooke signed said
letter in my presence, and then asked me
to accept it in writing, which did.
Immediately took the letter. sat down
in the office, read it hastily, and then
told Mr.. Cooke that it was all right ex-
cept that portion which referred to the
Independent. | told him plainly that |
could not assent to the use of my cdito.
rial columns on any consideration wha-
ever, but that | would print such notices
of his corporation as might be deemed
proper in those places or departments OF
the paper where notices OF other corpora.
9ns and business men usually appeared
10 this he at once promptly assented,
and during the more than two years init.
mate business relations which existed be-
tween Mr.. Cooke, myself, and the other
plrties associated with me. no request
was ever made TO transfer the
notices Of the Northern Pacific
railroad to the editorial columns of my
paper and they were never thus trans.
lerred. agree with the newspapers per.
fectly in saying that, had the editorial
columns of the Independent beer thus
used las repeat they were not, as can
easily be proved it would have been
wrong.
The accepted letter, or Informal con.
tract, or whatever it may b. called. If il
ever bound me, did not do 50 for more
than ten minutes time, and was then alb.
rogated by mutual consent. The North.
ern Pacific railroad notices, such as it had.
were printed just where all other ncwspa.
perS printed thcm. and nnwhnre elsn