Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1876-05-17
TESTIMONY OFC0L. THOMAS 4. SCOT1'
NE OWNED THE MYSTERIOUS
BONDS-BOTIOU F1CTS-BL 4INE
COHPLETEL EIOSER4TEU

TESTIMONY OFCOL. THOMAS 4. SCOT7
NE OWNhD THE HISTRRI0US
BONDS-BOTTOH FACTS-BL AINE
COHPLETELY EI0NERA TED.
Blaine addressing IIunton said that although the
resolution of the House under which this investi-
cation was held did not refer to him by name, the
proceedings had been conducted as if he had been
on the stand.
Hunton said that while it was true that Blaine
name was not mentioned in the resolution there
was not man, woman or child but knew the in-
vestigation was designed for him, and so Blame
must understand it, After his conversation with
him Blaine thanked llunton for his courtesy and
kindness in opening the doors to this investigation,
and SAID that on Col. Scots testimony this case
must stand or fall Col. Thomas A. Scott said he
came before the committee according 10 summons
and not on any bodys side. While here he had
heard evidence on points duplicating his own per-
son and therefore wanted to testify. lie could ex-
plain not only all transactions with reference to
himself but everything about the IS bonds This
was correct and proper transaction based on
equities due to himself and with which Blaine had
nothing 10 do. lie desired TO be a witness in this
case so his testimony might go to the cou TRY in
connection with that already taken, and perhaps
after his testimony there would be no need of the
other witnesses.
After recess Of an hour aad half Col. Scott
was sworn. and being examined by lluuton test-
fed. lie formerly owned those - bonds Of the
Little Rock and Fort Smith Railroad Co., and
bought them year and four months previous to
his selling them to the Union Pacific Co. He
bought them from Josiah Caldwell, who was ne
gotatng the bondsof that Co. Caldwell belong ed
to Boston, but he did not know where he now
was. lie understood, however, that Caldwell dur
ing the panic of 1873, went to Europe sitter his
failure 10 the West, and was there now. He gave
Caldwell eighty cents on the dollar for the bonds
and paid him in currency check or draft, he did
not remember which. The pun base was made in
1870 when he had nothing to do with the Union
Pacific Railroad Co. lie gave 100000 for the
bonds and sold them to the Union Pacific Railroad
Co. through Morton. Bliss 4 Co., for about s64,-
600. When in March 1871, he entered upon the
duties of President of the company, the stock was
low down and everything connected with it de-
pressed, but it was not long before there was
marked improvement in all its affairs He h ad
believed the company would give him liberal
compensation. He was pressed for money which
he wanted more than the mere salary and it was
finally suggested that the company should buy the
IS bonds of the Little Rock 4 Fort Smith Co.
He was to have the option Of buying them back.
The executive committee agreed to buy the bonds
at the price fixed through Morton, Bliss & CO.,
and the bonds went TO the Union Pacific Company
tn this direct way and in no other way. His years
salary had never been paid. That would be $4,000
with interest. If the Arkansas road had been
completed the bonds would have been worth from
80 TO 100 cents on the dollar. He had rendered
the Union Pacific Railroad Co. a service for which