The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-03-15
TIE DISTRICT INVESTIGATION.
Operations of the Real Estate Pool
The President Under Suspicion.

Republican.
The Investigations into what is known
as the real estate pool of the District OF
Columbia promise to bring out sensa.
ton equal To the BelSnsp exposure, il
the charges which have been made
against hi. n officials in connection with
this ring are substantated. About the
time the Board OF Public Works, under
Boss Shepherds government, began the
reconstruction of this city, an association
was formed entitled the real estate pool,
$4,000 being put into a pool for the
purpose of buying and selling real estate
in Washington OF this sum it is known
that Jay Cooke X Go. subscribed one
half-that is, $25,0O0-but the re.
mainder was subscribed by five parties
unknown. The money WAS placed in the
hands of an agent, iii whose name all pur-
cha,es and sales were made. IL was
quickly apparent to such residents of the
District, however, as were advised OF the
existence of this real estate pool, that the
parties back of this agent, and whose
names were SO sngularly concealed, had
great influence in the board of public
works, for as soon as they would make
purchase in an unimproved por-
ton of the city the board of public
works would at once begin expensive
improvements in that neighborhood,
and so appreciate the value of the
property that the pool easily sold out at
an advance, in some cases for double the
money paid Altogether it is said their
transactions covered property to the ex-
tent of 100000 in value. When jay
Cooke Il Co. went up, the assignee Of that
firm was necessarily compelled to close
its accounts with the real estate pool, at
that time represented by man named
Kilbourne In some way this settlement
WAS made in the form of II compromise,
bv which about twelve acres of town lots
were turned over TO the assignee OF the
bankrupt banking firm.
WHO WE'RE IN THE POOL.
Something more than thirty acres re-
manned in kIlbourne's hands, and the
Fortv-third House made some effort to
find ont to whom this property still held
bv Kilbourne really belonged, the sus-
picion being strong that the United
| States. as one of the creditors OF Jay
| Cooke Il Co, might get Il slice OF it by
| developing the secrets of the pool. The
| investigation WAS failure however, no
I-cvideuce being obtaincd As to the names
/ of the five unknown members of the pool.
/ Tbs Congress has begun the same work,
/ and the action o. kiibOurne on Saturday,
/ when ne refused to disclose the names OF
I the parties for whom he is agent,
indicates the course which Is to be
/ followed in the effort to continue the con-
/ cealmcn. of facts Latta, who was also
| included in the Subpoena GtceS tccum
| issued by the committee, was at one time
the agent OF the pool and he Joined with
! kilhourne in the same reply both beng
reprrsea'cd by Judge Jere Black The
claim Is made thg. kiIbOurne and Latta
/ both acted a. attorneys for the parties
/ they represented, and that their names
and al! communications with them are
/ to be regarded as privileged. This per-
/ sistrrt effort. however, 10 conceal the
! identity of these parties has strengthened
/ the suspicion that they were.people.. whose
| connection with the pool would subject
them to criminal prosecution If made
public.
THE PRESIDENT UNDER SUSPICION.
Ore of the matters which the commit
tee have been recently advised OF shows
B President Grant in TRANCE situation
and Will ut l"usy compel him TO make an
. explanatiou If circumstances which must
be otherwise regarded as more than sus
ricious. just before the investigation of
the real estate pool by the Forty-thrd
Congress, piece of property ys.ued
at $4,000 was decided to the
President by the pool, but the deed
was not recorded until the investiga-
ton was closed period OF four
months elap,ing before it was recorded,
This seems to ind cate that the President
desired to conceal this transaction, or al
least feared inquiry by the committee of
the last Hou,o. The date OF the deed
and the date OF lis recording will be
b-cu.h, before tho committee, and some
OF its members advocate resolution OF
inquiry directed 10 the President. lnas-
much as it iavolyes MS personal affairs
entirely this course vii. scarcely be fol.
lowed. and the President will most like
be left to follow his own will regarding
the matter.