Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1879-08-13

urange 10 pay their travelling expenses
and $40 day to Rogers from the
profits Of fractional silver coinage. Be-
fore the Glover Committee he swore
that ho had never used these profits
thus, but the record convicted him.
now LINpERMAN OPERATED WITH THE
PEOPLES MONEY.
Linderman bought in his wiie's
name, in 1864, l50 shares of the Cali
fornia and l25 shares OF Consolidated
Virginia, the "Big Bonanza silver
mines OF Nevada, which were con.
trolled by Flood, O'Brien, Mackey
and Fair. For these he paid 80 per
cent. or less, about $4,000, Before
the Committee he called these $4,000
every moderate means Of his wife's.
In March, 1875, he bought of the Con.
solidated Virginia Dore silver bullion,
valued by the sellers at 81, ,O23, 900, and
paid them 81 900, 900 on account, with
out waiting for the assay to show
whether it was correctly valued, or
98.3 per cent. of the value as after
ward ascertained. The company got
their money two months before com.
pletion OF assay, and were thus ena-
bled to make $4,000 interest. In
June, 1875, he bought of tbcm i'm
ported silver bars valued by them at
81 ,5O0,0 900, and paid them 81 ,425, 900
down over two months before compile
tion OF assay, and enabled them thus
to make $4,000 interest. The assay
showed the bullion worth but 81 49,
900, $4,000 short of the valuation, so
that ho paid them in advance 9S6 per
cent. of the value, running q great risk
OF overpaying. The bullion was paid
for at s12lA per ounce fine metal,
delivered at San Francisco. The ex-
press charges were paid by the Gov
ernment TO New York from the profits
on fractional silver coinage, instead Of
being paid by the Sellers and the
charges at the Assay Office were borne
by the Government, without authority
OF law. These expenses amounted To
s32, 900, which made the silver cost the
Government sl.264 per fine ounce
The market value was S1.2i.3, so that
the purchase, as well as costing S32, ,00O
more than Linderman pretended, cost
$4,000 more than IL could have been
bought tor elsewhere. Linderman also
directed Superintendent Acton to pay
$4,000 more than the assayed value Of
the gold in the purchase, the sellers
claiming that the assayer had made q
mistake" Acton replied that there
was no authority to pay it, but at Lin
derman's direction, after seeking tc
throw all the responsibility on Linder
man, he paid, and charged it to "profit
and loss"
Prof. II. Il. Rogers of Philadelphia
another stockholder in the Consoli
dated Virginia, the sellers, was employ
cd by Linderman to make an "exami
nation" and of course reported strong
ly in favor of making the payment
William Il. Dubois, Assayer at Phila
delphia, protested strongly against
correcting assays at the instance o
outside parties, saying that this dc
stroyed the reliability of assays. The
payment was hidden IN the Directors
annual report for 1877, by calling it {
"wastage," when no wastage, but s14,
900 saving, had occurred. The pay
ment took place without tbeknowledg'
OF the New York Paying Clerk, anC
without authority from the Secretary
OF the Treasury The purchase alto
gether cost about $4,000 more thar
was pretended. In the same monti
Llnderman also took off the Company
hands nearly S2,OOO,OO0 more sllve
that they were anxious to sell.
A COOL 500. 900 900 pocKETEp BY LIN
hrpu,v AVN ms .ssoc,,rrs
r.nnar, ,o-E 49, No.. -.
- ,h ~, ro q s' ,;lJ ns r"nn",a '.Joa' oSam
anava ua s"o Vne.o , =, & mI NIX aJpV,'' oo' avou
rnnsa,;Sa 1uo ILL., "a Nv w.. nJ "'sa ~ ',Se0 oso
Iinderman,s COX ssoo worth of s,ncl
,ras ,rnr,h anoo s9oo ono ~, !, c.I
h,' M oo,asa, 80 a. on onJ C.,;c,s;a ~, H.
y; ~.sOss' ,'o,, ST. g. panan.a ~ osa S e.
H'n !, ,ras n hai,od ar,o;r @ w. ~ " Souao 60 -
~ ,ha, - fsndarmaa n;.;,od raI;
Sannio - y, ~ aeia;aI hm";n,s. So aor.k.
oone"ronoo ,si,h ,ho monooara SS e. ~
rs;nos and orsa,aaJ an ,nsnao,;an - =
,ham III" IT, I'D Psos po"nIp ,soa y
snon ~ o,,ar = ho,dar ., soa ooo nr ", :, =. =
o s,oa,, ~ h. ,,,;noa ;nsnoo,od ,ao,,
sOsn ,'U;oo " PEARS @ modo : S0s' rdpor, ro,n;n ."
,ham ., Sam 0oo mn nhich Iinda,
; man sav,ns ,bst o,her es,;ma,as rsar
. TOO b;ab ooncnr,oJ in and nnhl;oha
. IL h;a ennnoI ranor, Co. iorS M;
) Voc ~;dai1 o;,ppU,a,od p a. .nd I ;runa ~
consol;da,ed v;rr;nia ~ saS @ ond GoI
] ,orn;o 90 o-S T6o r;sa oa.-;od IN,
r darnan,s s,oo, ~ 40 sioo ooo and h;
8 es;a;"i I ..,ssosan,lr,;"ns sss ~ Ia ~ 49, ~
I nm 20 100 nor or;r,;naI shora 70 ,ho ~ on
3 81 1914 IA 20 Tx I'm ,haond 81 1e7,
Tha r,;nas CO. onI,, nrodnood ahnnt G
q of tho amour, rronresen,ed and ~
/ s,oeL ,oIi IN s,ai,a ~ ahont e,s ano ooi M
Q occord;na 20 ,he Sto,;s,;cian VCt'y y, ~
Tni,ed S,s,es Mone,arv Con- m;s;o,
Q Tlo ma;ntanonoo ~ ,hc e,ooL ~, H.
Q n,;oos % onahlod 10 ownors o go 20 soi, IL .,o5 80.
! @ pnonsh 80 roa,;.o ohon, st9s 0oo m,
b All r. to,i cansod ~" hrro.1 IT,
y about 500, 900, 900, which the seller
J. pocketed by Lindermans aid. Thi
spread misfortune and distress through
out the Pacific coast
! Oct 10, 1877, the Secretary of th
! Treasury signed at Linderman's IL
stancean order stopping the coinage
trade dollars. Linderman managed I
let the Nevada Bank OF San francisco
owned by the Consolidated Virgini
, party, and the Anglo-Caliiornia Banl
of the suspension the same day, thong
I, the public did not know It till the mex
~ The gpQOnl huqinoaa daU aflQr fba an