The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-31
PRICE TWO CENTS
POKER SCHENCK CORNERED
TWO LETTERS OF RESIGNATION As
An EMMA DIRECTOR.
The Dental that Park Drew MP the Orisfn.l
Contra dictod by n Gable Despatch frosa
the President Of the Emmn Mine Companr.

The Denial that Park Drew up the Orisfnsl
Contra dictod by n Gable Despatch froaa
the President Of the Emmn Mine Companr
WARRINGTON, March 3O.-Mr. Schenok
again appeared before the Committee on For
ei0n Affairs to-day. Mr.. Swami said he was in-
stIucted by the committee TO say to Mr.. Schenck
that the committee would retain tho control Of
the examination in reference to matters con-
nected with him. All questions would be put
to him through member OF the committee, aud
ho would reply to the committee, and not to
outside parties. Nr. 5chenck made an explans-
tion with regard TO his resignation as director
ofthe Emma Mine Company, denying, as Lyon
had testified, that he had concealed the fact
from December till tho 18th Of January. He
said he made no effort to conceal the fact, and
was rather nettled at Parks neglect to publish
tho letter Immediately. lie also explained the
discrepancies, as called to his attention by MIR.
Springer. between the letter OF resignation to
the company and that purportinR TO be a COPY
transmitted TO Secretary Fish lie had pre-
pared and retained tho rough draft from which
he had written, with modification, the letter
sent TO the company.
that Park asked him to modify the letter OF
resignation by adding thereto the puff for the
company. Mr. Scbenck replied that he had no
recollection OF any eucn thing having happened.
lie never sent two letters, aud only enlarged
upon the first draft by adding sentence to 1t,
Nhho no ehOukhe ~ hhu pccu uit-
changed.
Mr.. snrlnger-was It Secretary Fish's letter
which induced you to resign your post as d.
Mr. schenck-No. think should have done
MIR. IIewitt-Did Mr.. Park draw up tho letter
Mr. schenck-I should think not.
Mr.. Hewitt-Ars YOU sure that you never saw
draft u this letter. to be sent in by you, In tho
mr. SchenckTi think not
Mi; Hewitt-The reason why ask YOU these
questions is because despatch has just been
received from Mr. McDougall, In London, which
states that the original draft OF Schenclk's letter
Is now in the hands of the Emma Mine Compa-
ny, ana Is In the handwriting OF Park.
Mr. Hewitt then read the following cable de-
snatch from MIR. McDougall, the President Of
the Emma Mine Company.
IT, ne Chgtrmaa y tse conmft,ce n fersiSs ISSlrr
nal Grsf Of schc9cks ietsr OF Tgpasnn tne m pare
handSrtngi ma respecting oper ilions. have proof
lGa December. from PARK. AdvsnI the intend.
ea pss'iaS OF dyiden9s and seheaek sent Cheseoor
hcDoUoALL. Chairman n Emma Mino.
Mr.. schenck said he was confident that no
such draft OF letter ia Parks handwriting ex4
isted.
MIR, Hewitt then questioned Mr. schenck a. to
hie alleged knowledge Of the impending crash
In 1873, and of Parks notification TO him bJ
cable that tue next dividend would not be paid,
and also ns 20 Schencks action on this secret
Information In selling out 200 shares imme-
dately; This. II established would show thai
Schenck was In the confidence Of Park and
Stewart and was secretly advised by them Of
,he impendlng crash, so that he could sell out
In time. MIR. Schenck denied having received
such information by cablesrams from Park, who
was then IN America, and denied that he, who
was then In p iris, sent despatch to Col. Cheese
brough, in London, telling him to sell ZOO
shares. Mr. ScheucK will be cross-examined
tomorrow.
Mr. McDouga, who sent the above telegram
from London, Is a stock dealer in that city, and
Is the proprietor OF The Hour (newspaperl and
Its money editor. Since the Emma Mine shares
| went down In the market lie Is said to h We
oOught W at yery low price enough shares to
secure n controlling interest In the company.
| lie Is reported to have proHted largely by his
own speculations In the Emma Mine stock by
buying when II was down To 81 OF q per share.
lie himself was not originally In the company,
| II Is said nor one Of those who suffered by tue
| depreciation of the stock.