New-York tribune., 1876-01-31
PACIFIC NAIL INQUIRY.


| TRANSACTIONS WITH MR.. sToCKwEIL THB
LOSSES TWICE PAID BY TIE LATTER-MR. PARK
AS Mr.. sTocHwELI's ADvIsER-How HE WAS
| PERSUADED TO BIZ ONE DIRECTOR OF PACIFIC
| NAIf-THE $4,000 CHECK-MR PARK IGNo-
| RANT OF PANAMA RAILROAD BYLAWS AND op
| THE CONDITION or The ACCOUNT WITH Mr..
| NEUTRALITY-SUSPICIOUS. CONFLICTING WITH MR..
JoHNsON's TESTIMONY.
The taking of testimony for use in the suits Of the
Pacific Mail steamship Company against Wm. ). King
! and John G. Schumacher, which had been in progress
for several days before Edwin NJ. Wight, as Commits
si0ner, III the Drexel building on Wa-st, was con-
tnued on Saturday morning Trenor W. PaIk being
on the stand. The direct examination of Mr.. Park
was conducted by Nj. Bennett, who is the counsel
for the Pacific Mail Steamship Company and the
cross-examiuation by Mr. Goodwin, counsel for the
defendant, KING. Mr. Park although he had been
reported seriously liz aud unable to be present
Friday, exhibited N his counenance as little evi-
dence of weakness as be did in his style Of
ing the sometimes sharply significant but entirely
courteous interogatoros of Mr. Bennett. He was
extremely positive in his replies and very quick TO
resent any apparent infringement of his dignity.
The examination was begun as follows:
q. You are President Of the Panama Railroad Com
pany A. am.
z. How loug have you been A. Since Dee. 10, 1874
Q How long had you been directOri A. Since May,
O. DO you rccoliect during June 1873 receiving
noce that you had been elected director o the Pacine
q. DID you take your scat A. Immediately there
aius, without taking my seat sent Ia my rslgnaton
q When did you become first ACQUAINTED with Mr..
stockwel All ut the Ist of March, 1873.
O. Duing that year sou lad business transactions
q DId he seek and did you give him your adycei A.
Id'd In various matters -.
q We're ho and You interested together IN any joint
pecuniary ransactons a. may AS well state, to save
great many questions
Mr.. Bennett here interrupted to say to thu witness
that perhaps the explanation woud tend 10 prolong
the examination and he had better simply answer
the questions. Well replied Mr.. Park, 4" / will
tell the truth, and that is what you want suppose.
am a lawyer and know what is responsive to the
questions and Will try to keep within the proper
limits"
Af.er a little discussion as to the answer, IF the
witness Mr.. Bennett then resumed the examination
O. My question was were lie and YOU inter. sted to-
gcthcr IN amy Joint pecuniary Transactions - res
o. OF Wliat nature and to what eNtcutt A. ble nr't
transaction IN tie month u Mlrcl, 1915, When
met Mr. stockwe on the street ana asked bih Lat ne
th"ugDt of Panama st"ch' ara ne Iespohd'1 udt 1e
thought 1t was good purchase ana suggest - me 70
buy sonie ana sad, " & y91 WIN Duy COUPE o d ados
sand shares ana carry II WI see You cIeai %" ~ ana"o
Will take it GA that account" few DAYS ai,cr this
sisnrd A. b. So rnrsGase 1000 snares." purchased
the 2,CoJ shares and purchased afterNeld ol some
reason 200 more, mahng Zoo shares The purchase
cOiBmeBced tne lOt Gay OF March, ls73-tle first
conS crsition transaction had with bim aitt lad
O. Vas tnere not lose on that irapsactioni \. In tho
course a DAYS fouYd there was large loss on
tie Psnaina 1ioad-lt5 apancrs. prospects &e-wi,h
rhis losH view Ihe next conycrs.t on bad WIN Mr
stocKwel on the street, April, 2 1873 anu told
nm stock had been pretty 1eayy aes h'' showing
q Was hat loss at $4,000 paid by stOckwcll to yout
A. Yes, the 7th day OF April
O. Was ths a voluntary payment on his pant A. Yes:
a. Was there any lceal ooligation for An 40 pay NJ
A. Legal II a mans word is binding
O. Was tlat transaction . joint onei A. Joint as to
pr,i As
10 carry the and to see ue free tom loss
O. Did YOU lave any other pccunary uinr"ciion with
NJ. s.ocfSe during that yeari a. ies.
T. Via. Was thai A. should say one unless you
the number of mere lotns-discountiug note or
O. wat the transac tions 4. had but one transao,
on with him, unless II was dscounung lis notes or IN
O. Al tni, look place after the notification cf your
election directori A. No. sir, before -,
q 10 what extent did yon discount hls notes'
\. Altogether tnat year. perhaps, az duc'eht u'Ne,
100000 or 100000.
o. rnis otner transaction which you about 10 re-
iaestte the nature ana tHtt nj ana result OF mat
That the purchase OF $4,000 shares OF PaGhe Mall
stock 81 JOINT account Of Mr. stockweil, Mt, Rnfus
Hatch, and SELF. 1nat transaction was closed, 40 sp
peaIs by my book, oh tle "a oi Nay, ls73 -.
O. Was there a loss IN that TRANSACTION A. There was
q. About how much \. \ loss OF So4,JoO ana some
O. Were you three equally interested in the profits and
o Did Mr st5ckwe pay YOU the entire loss A He
O. Was il previous subsequent to this that yon had
director OF tle Pacific Mail steamship Company, that
youI name would be propo-edt A; IL Was Previous,
To- t my name the ticot AID replied II they did
should not serve, and supposed they would rot pns
@. Co. DO you rccolect who this wasi A. think Mr.
Hatch wa, one, and don't know but lac Was Inc ohy
o. Was il said to YOU tna there had been programme
atfaugi, portion oi which was that you were 10 20
lut lorWard canGldnte ior drectcIsIp ahi th pr:
StOckwell 10 WiihdrlN as candldatt 'it.'F ior
President or drectori A. don't recoiieet ..,
o. iuu di however take your seat during that feat'
A. Not durus that year; II was On tie l4th day oi Jan
uary, As iind from the books. .,
o. You took seat under the election OF Wmfh yOH
received notice rs testified tot \. Yes.
- How Is II thar your objections were oyerrued ~ 10
taking your scat A gave different reasons Tor reus
,us 10 -. ON the Board that owuei no stock IN
Iarc Aiah. and didn't tGuk OF any otAer MAN Wir
inr representative OF the stocAhOIde.s VINO dd not own
stock himself
% Were those obstacles or ay Of them removed when
yon dit take your seat on the llth day OF January
A. Yes, sir when took n! seat iite ma'tH WIN nt;
stockSt had Dttn seltIe ar nSH o,rn ,h.9 m ~, u % Su
when took seat took Il AZ tue request OF u" hei-
ers oil tue Board because Questions arose Dtt"h s
p.c,nc Mail and the Panama Railroad on ohe side,
and tho Union Pacific on the other IN "nea
i,.ir, and II Was that relson that went IN bnt
the same day went INTO the Board announced ~ the
Board my exact pO.lt H. and why was iucrd 10 tahs
INV seat had interest Ia the stock save as between
those two companies whose interests were idehtTsi
yice and assistance and should nave II bat mat should
nevcr " The Board ON any question thst IisH'
arise between me Pacific Mail al the rahiid" io"u
TIE sgOCKHELL SETTLEMENT
O. Previous to your taking yor seat on the liih day
of January 1874 were you you not active IN In
en, the directors who lad taken their seats 70 vote
IA favor Of tue settlement With Nh stpchwch, which
they afterward ratidcdi A. No. Sir.
O. Dad you participate IN any Informal discussion upon
the subeccnot the Board of Directors, bat outsider
A. No. SIR.
O. Duriug tht period you we're upon Mr. stoeh"eh'
l,per ners you not A. presume was; ilhhA there
was 10 tue during 1873, ater MAY OF Jhle 'n"t
either did not mold hs paper OF was o., wi,h stoekve