The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-10

GENERAL scuENcK AZ A DIRECTOR AND TRUs-
ROYAL CAMBRIDGE HorEL-THE Ex-MISIs-
TER's TELEGRAM TO SECRETARY FISH AND
| WHAT CAME or IT.
| The suit or tho Emma Silver Mining Company, Of
London, against Treanor W. Park md Henry H.
Baxter, 10 recover 100000 sterling, resumed
Yesterday before Judge Wallace and jury in the
Equity branch OF the Uncd'S.ates Circuit Court The
examination OF Mr.. Park, which has occupied several
weeks, closed ut the hour Of recess, and the re-
| assembling OF the Court General Robert C. Schenck,
la,e Minister TO England, and who has been prom-
ncntly connected with the Emma Niue concern, was
for the first during the protracted called
| the witness stand. His direct examination
Quoted by Mr. Chittcnden, OF counsel for tho defence
The witness testimony. TAR was substantially such
a. he gave before the Congressional INVESTIGATING Com
| mitec. What the minaion by counsel en-.
ployed by tho company may bring forth. remains 10
| be seen HIS statement OF his arst connection with
| the operators who put tho mine speculation on
the London market, his personal connection there
with aud his action finding the criticism invoked
IN tho pubic press In consequence was substantially
as lollows:-
GENERAL scHExoK ExPLAISs
TO Mr. Chittcndcn--ADout tho middle OF October,
1871 he mot at the Royal Cambridge HOTEL In London,
where ne nAu gone SEQ some Irl6nus ny appoint
mcu,, United States Senator Stewart, with whom he
had been previously acquainted; he also met on the
same occasion and Tor the first time Mr. PARK, the de-
iendant; this latter meeting, no thought, at the
table OF his friend, Mr. William u. Evarts, by whom
he had boen invited, as the o.hsr gentlemen seemed
also have been, 10 dinner at the hotel: no did not
know whether It was At the dinner table on this
caslon or subsequent meeting or interview
two days aftcrward that some conversation was
started by Senator Stewart about tho object Of LIS
lStewars) visit to london he was not positive as to
the precise OF this CONVEX saton: the
however. which he referred Senator Stewart told
nm that he (stewart) and Mr. Park inter rested in
the property known as The Emma Silver
Mine; that they were desirous OF putting the mine
the market In England for sale TO q company, and
that IN TACT, they were then engaged IN negotiations
to that cec there was not much between
tho witness aud Mr. stewart on tho subject OF the
proposed negotiation At that time; some short time
subsequently, however, suggestion was mado TO wit
ucss-nrst, he thinks, by Senator Stewart-that he
ought acquire and hold some interest IN the mine,
as It very valuable one. and would prove good
thing; that It was probably the finest mine that had
ever been put the market; he did not then
idea Of interesting himself IN II In the
susiec, lie Consented 10 look into the matter ana see
whether would be worth his while, II he could get
the means to invest In II 70 tho extent Of few shares,
or as many he might be able TO purchase; the mat
stood still tor time and eventually Mr. Park told
witness that he would give him 500 shares on time, or
enough make the investment OF some Importance 10
him. aud November /, 1871, no gave his motto Tor
81, 900 10 Nj. Park by collateral.
BY Mr. Chittenden-Was anything said about this
time, i'm mcdatcy thereafter MS TO your connection
with the mnc by the newspapers!
The drst thing OF this kind-crlticising my conncc
tion with tho mnc-that saw appeared in the London
Times, copied from the American papers; was
very much panied and troubled at It, and
it Immediately led me TO telegraph to Sec.
rotary Fish, Of the State Department. that I
had paid dollar for dollar for my interest and that
had invested nearly all my means in 1t, and that
would resign my position asM mister II called upon to
do SO; thought the telegram TO Secretary Flsn
| November
VI the business OF my Office, at the cl6sc Of bus
mess hours; the reply OF tho Secretary received
the following morning, and that day very
much excited by representations which reached me
there something wrong in the concern, aud In
regard my connection with that ought not from
my official position 10 be director IN II; that same
day, the 18th November, went to meeting OF tho
directors of the company anxious ana excited. hav
ing announced that the directors intended "
carefully the prospectus; had previously read
the prospectus casually and then believed that IL
correspondent with the representations made TO
me by Mr. Park, and al tho cxhlbis IN the case;
had heard some one say that the reports were almost
TOO good 10 be true; the prospectus however, was
gone carefully over Ut that meeting, aud remember
that the Board camo to the conclusion that all tho
statements embraced IN that prospectus were estab-
lshed; there discrepancy, however, Of about
thousand tons OF ore between Professor SILL
mans report and tho prospectus, ITO discrepancy
being IN favor OF tho prospectus; while director Of
the company was appointed trustee to accept the
tue properly aud acted such trustee in
calon with Mr. Anderson the President of tho Board,
aud Jay Cooke, OF Cooke. McCulloch Co. tho duties
OF The trustees SIMPLY TO pass over tic
TO tho purchasers when certified to by the solicitors.
This simply ministerial act and Quo that did
not think would call Tor criticism from any one.
a TELEGRAM FROM SECRETARY FISH
'Aer the meeting OF tho Board referred to, on the
18th November, and Immediately on receipt OF u tee-
director OF the company, but concluded might prop
erly continue a trustee also attended meeting
or the directors 30th November, at Which
ing a bond and guarantee OF indemnity was demanded
Mr. Park account Of the cloud that thrown
upon the title 10 The property by the institution Of
some suits affecting tho title tho mine IN the United
STATES The trustees had nothing to do with this, how
over. Mr. Park ut first not willing TO give the
bond In consequence OF the absence OF Mr.. Baxter from
London but such bond know was subsequently,
Witness sent In his resignation director to the
Board on the 9th Of December his Intention TO do
beng previously formed and Tor some tliuc known
tho 0thcr directors, he having stated 10 them that
under the circumstances he could no longer hold seat
ut the Board director.
SORE SUSPICIOUS
He never attended meeting OF the board after the
date oil his resignation. In the spring OF 1873 the
president Mr.. Anderson. began 10 get sore ana sus-
icious and inquired OF him twtncss) what he thought
vi Park. At The solicitation OF Anderson he reuc-
family wrote to Park calling his attention ru-
circulated BY The press concerning tho
mno Itself aud rejecting upon The character OF the
that there were any misrepreseniatons made to him
by either Park stewart and while he was ready 70
admit that thought AZ first that Parks repre-
sensations Of the product value OF the mine
strong he subsequently believed that they
tanned by the reports OF the experts who had It.
They were very thoroughly convinced that .hey had
exceedingly valuable NINE, and no mad come 70 The
! same CONCLUSION himself aud SO believed to-day; he
had not changed his mini as To the character oil the
NINE, except this way, that he now thought II was
richer and more valuable than he for time believed u
was he had never come 10 any different conclusion
than that it was ana is very valuable mine though
he had no personal knowledge oil the cxtont Of the OK
ploralons OF tho mine or what It's PROSPECTIVE yield
might be-
/ Tns concluded tho direct examination OF General
Schcnck. HIS cross-examinaton VIII commence tins
morning by Mr. stoughton 10 winch time the Cour'
adjourned