The New York herald., 1876-01-30
THE PACIFIC MAIL SUIT.


TESTIMONY OF TRINoR W. PARK-H1s TRANS
ACTIONS WITH MR.. sTocKwELL.
Further testimony in the OF the Pacific Maj
Steamship Company against William s King was taken
yesterday morning, before Mr.. Edwin NJ. Wight
Mr. T. w. Park testined:-I introduced 10 Mr..
stockwell early 1873; the first conversation be-
March OF that year; business relations
took place that year between Mr. stockwcl and my
self; there had been transactions between pre-
vously; in regard to relations they OF
business than confidential character he sought ad-
vice from me and gave it to him.
Mr.. Park here claimed the right fully the
questions put him the privilege OF reading from his
notes.
The examination being resumed, Mr. Park said The
FIRST pecunary transaction in which Mr. Stockwel and
myself jointly interested took place March,
1873; we met on the street and asked him what he
thought about the Panama Railroad stock; he said
that he thought that II was good, aud that II would
buy 2, 600 shares he would me through he said
that IL safo to RISE but that 1t would be prudent
TO wait few days before purchasing; within a week
he sent me note to buy, and did so, purchasing
all 2 200 shares in the course OF few days the stock
fell and on meeting Mr. Sockwe on the 7th Of April
l informed him that the transaction had IN
voved me in loss of $4,000 in consequence of
the verbal agreement he recouped me for my
loss; the transaction was joint TO profits; to
carry the stock and he was to that l suffered
loss there was one more joint investment between
that year. and only one; discounted notes OF his
however, and ndorsod his paper 10 the extent Of
$500 600 or $500 900; the second joint purchase
account Of Stockwell Hatch and myself; bought
on thirds 3O 900 shares OF Pacific Mall carried
two months and suffered loss OF $54 900 each Stock
well made my losses good this before had re-
ceivcd any intimation that was to be proposed
director In the Pacific Mail Company; think that Mr.
Hatch the only that told Of this fact; did
not know that there was programme that was TO be
elected and that Mr. Stockwell should withdraw; 1
did not think that | was fair representative OF
the interests of the company because l owned none
of its stock; in April, 1875, returned from Cal
itornia my resignation had by that time acted
upon Stockwes irregularities had come 70 light
until after my departure for the Pacific coast remem
Der that the terms OF the settlement finally that
Stockwel should pay over TO the company $40 900 OF
its shares in Instruments had not been delivered
cussing affairs with stockwen, he called
my attention 10 the check for $780, 500, drawn
by the Panama Railroad in his favor, and which the
Pacific Mail directors found had been charged loan
some time in May negotiations had been had for the
settlement OF the differences then existing between
Stockwell and the Pacific Mail Company these differ
ences understand TO be that there due the
pany $500 600 on mortgage the Bridgeport prop
erty; my impression is that $4C0 900 had been paid
and that Sockwe had deauted in the payment Of the
balance. stockwell claimed that be should not
lose by the depreciation of the stock him.
and the company claimed that he should there was
also question as to the validity Of the mortgage II
was finally settled that suit against the company
should be Instituted by Stockwe for the difference be-
tween par and real sales and this was approved by all
witn as. nttle hi,guslon as posslbie and the ques
tion OF referee was brought up; do not
Know that was regarded StockwelpS
adviser; he wished to retain me- and told him l had
not practised for ten years interested In
Pacific Mall; I'VE wished il succeed and had loaned Il
money; came out from my transactions with Mr..
Stockwsl neither richer poorer except the
on some notes discounted for him never gained q
penny by him; from May until October, 1879 Baxter
Hatch and were trying TO induce Stockwe 10 resign;
he thought that pressed him too hard and there
arose cooness between Baxter sold his stock be-
cause Stockwell would not resign; General Mccullough,
my sonn-law, acted counsel for Stockwell but il
was In suit about sewing machines; Stockwell told
that the litigation had cost him largely but he said
nothing about other expenses than legal do noe
remember when my attention was called TO the fact
that 100 shares OF Pacific Mail stood in my name the
bookkeeper brought me the certificate and told that
Mr.. Hatch had put the stock IN my name; assigned
IL in blank; did not vote when the matter In Ques-
ton involved complicated interests Of both companies
no steps have been taken to the face OF the
check for $3.50, 500 from StockweL because we believe
that Pacific Nail owes IL TO do not remember any
bylaw the effect thai check Of the company shall
be good unless drawn the OF the party 10 whom
made in matter Of wages.
The agreement between Mr.. Stockwcll and the Pa
cshc Mail Steamship Company here introduced and
examined by Mr.. Park
No part OF this agreement Is In my handwriting; In
reply to the c0mpany's claim concerning the Webb
steamers StocKwel claimed that they had been ap-
praised and that the company had taken them at the
appraisement
Mr. Park here scanned over the testimony OF Mr..
Johnston taken on Friday, and mented on II as
folows:--Mr. Johnston's reported testimony that
consulted with the directors OF Pacific Mail In reference
Mr. Stockwell's Affairs is draft vivid magma
tion; only conversed business there was never
any Disagreement between Mr.. Alexander and myself;
Mr. Hatch and never had any reconciliation because
never had any quarrel; was pressed 10
resign, but, on the contrary, invited 70 remain
Adjourned until Monday