The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-05-02
LITTLE PIrrsBURG,
Revelations Concerning n Once Famous
Mining Speculation.
New York Herald

B. Chsffee and David n. Moffatt, Jr for
SIG, 600 damages, which he claims to have
sustained through purchase of stock in the
Little Pittsburg Consolidated Mining Com.
pany, was resumed yesterday morning be.
fore Judge Peckham, holding Suprems
Court, Circuit.
Elk Senator Chaffee was again called to the
witness stand. He took his seat as com.
Iossdly as on the previous day, and was
prompt and straightforward in his answers
growth and collapse of the Little Pittsburg
line made by Mr.. f. n. Bangs, VINO had
him under cross. examination.
lyon entered public life about how many
years sgop began Mr.. Bangs.
81 was first elected to the United States
Senate. ] think, In 1865 or 1866 "
lyon have been more or less in public life
since that timer"
Yes SIR
You occasionally addressed the Senate,
did YOU pot?'
livery few times, sir"
"YoU have been a writer for the press
believer
81 have written some articles"
You have written things tor the press
with view of influencing public opinion,
have you not?'
II have written articles to give my opin-
You have seen this report, | SUPPOSE
continued Mr.. Bangs, showing report OF the
company to the witness.
81 have"
"Did you talk with the Directors at the
time the report aDpea-ed?'
IT think did"
what did you tell them?p
ST told them thought it injudicious-too
extravagant. / thought il so from informa-
ton received from the mine"
GREAT EXPECTATIONS.
"At the outset what were your expects-
tions2 Did you think that the mine would
be worth $4,000, 000?"
81 made no calculations. 1 knew but a
small per cent. had been developed"
"Dd you expect it would pan ont $40, 00O
OOO?"
at had not all been developed"
Had you any expectations st the time of
the organization of the company that the
mine would pan out 100000 OO?"
81 did not know"
81 ask your expectations"
II imagined from the amount developed
that at least 81 600 900 or So 0O0, 900 would
be realized. 1t might pan out 500, 000,0 O0"
''You state in one of your letters that the
mine was more promising than you expected.
What did you mean
THAT the mine was developing better than
/ expected"
sight in July, 1922
"a great deal more"
"Were you present at meeting OF the
Executive Committee on January 8, 1882"
81 am not positive"
THE minutes are signed by you"
THAT may be. l would generally sign
them after the Secretary had prepared them
and said they were all right"
"Wss not that meeting called 70 hear the
report of Joseph G. Wilson, the principal
Superintendent"
'iI don't know whether his report was
read then or not / think must have heard
about the examination of Mr.. Wilson"
Have you any positive recollection about
it?"
No, SIR
WAS Wilson present at that meeting"
81 don't know
tied the mine in July and August, 1892"
SIN blocks. l thought there was larger
amount Of ore than was reported"
"You refer, / suppose, to ore conc saled
from sight2 Was not this q matter of con-
lecture and specuIstionp'
RELIABLE CALCULATIONS.
tin mining parlance we make what we call
reliable calculations from the ore in sight,"
did they turn out SOP"
mo"
Had you any intention as to the stock2"
I'VE intended to hold on to one-hsh of it."
"And yet you sold it?"
Eyes, sfterward"
"Wbat induced you to part with it?''
1.-THE Directors were said to be selling the
stock short and bad reports came from the
mine"
"And you gave up paying dividends?"
1--WE did"
"What do you nsean by selling 'short?'"
Selling something you haven't got"
| Laughter
"Did you keep individual bOOksS"
Have you any record of dividends paid
to you2'
II have not. 1 received dividend but
turned them over TO Chaffee & Motfatt."
DID NOT GIVE HIS INITIALS.
WAS Mr.. Blaine a stakeholder wss
asked later on, bur with no intislatlon as to
what Mr.. Blaine the question referred TO-.
He was, and received dividends"
What was the amount of his dividends?"
The books will show"
You say Mr.. Blaine was an owner of
stock, asked Mr.. Sewell, taking up the re-
direct examination. when did he buy?"
summation of the mine. He paid $50 q
share"
how many shares did he own?'
u don't remember. It may have been
1000 shares or less"
ibid you make any difference between
asked for the stock?n
1T was never sold for less than $50 a
| share"
Did you not pay Dodge, Potter & Co.
| something for selling the stock?"
I'VE paid them 81 share-we paid them
over 500, 0O0."
Where do you reside?"
SIN Denver; am of present stopping in
| this city. have been waiting on this Ia "
| suit about two months"
ibid you not live here for a timer
81 bought house here, bat ] gave 1t to
my daughter"
'Is she not married to son of General
i G-ant9p