New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-11-15
CUTTINGS TRANSACTIONS.
nm HE RECEIVE 800. 900 IN CAsHi
fE SELLS A RAILROAD AND INVESTS 1T IN WABASH
nrNFRAL sWAYNEs TESTIMONY.

HE SELLS A RAILROAD AND INVESTS 1T IN WABASH
-GENFRAL swAYNE's TESTIMONY
Mrs Howard Cuttings endeavOr to secure an
accounting of the estate of Francis b. Cutting from
General William Cutting. her brother-in-law mas 30
far resulted in a desperate attempt on the part VI
her law ers to get some definite idea OF how Oene,
Cutting las been managing the estate as eSecutII
since 1870. and to what extent he operated III wan
Street with strenuous opposition on the other slGe'
llttl. satisfaction in the public examination OF WI
neSses has thus far been obtained. General "
tinr's transactions IN Wabash, ST. Louls and fhcIHc
Railway stock through General wager oNa3hhe
have had light shea upon them, however ny Wy
examination of General Swayne before Edward r
UnderhiIl an assistant to the Surrogate ana Sue
nOgrapher ,.. e A. I,i.norolis
Perm and Chicago Railway Company belonged 70
the Cutting estate, and this General Cutting SOFA III
1881 for 50 900 600. His accounting as filed III inc
S9rropatc,s Court setg forth that he received
81 900, 900 in Wabash Gold-bearing bonds as pay,
ment. Mrs Cuttings lawyers ailege .l"t ho sb'
They have been seeking to find out what became VI
the 100000 IN cash. 500, - ,roro
Frank lin Bartlett and Ellhu Root appeared oei1np
Mr. Tnderbilt Tor Mrs Cutting III her petition LOT
the removal of General Cutting as executor. WINE
George IabriskIe represented the executor peherai
Swayne tost' fed that he was member oil tue Jaw
firm of Dillon x Swayne, having oihces III tno
Western Union Building. He was the SURVIVING
trustee of the S2.nO0,OO0 mortgaee.of the Indian
apolls Peru and Chicago Railway Company.
Mr. Bartlett-Statc what that mortgage Is. -. .,
General swayne-Thcrs were bonds TO the amount o.
made by tho Indianapolis Peru and Chicago RalroaG
G"mn,ny OF which Abraham W. Hendricks and myself
we're trustees. and In part by Ike mortgage ny J
Michigan cry and indianapolis Railroad COMPANY, anu
naoes. and also Of the ca caso Cincinnati aud Ious
Vile Railroad Company. think there were 80 OF these
10 DO used for the return OF 30 bonds previously aao"
ty the INDIANAPOLIS, Peru and Chicago Riiltoad com
=! - ~ fiat Inc outstanding issue Of bonds IL
- 100000; that is on the lnli"nap1lS division; uo
not think there was q mortgage on inc 'mcdSo N"''
natl and Louisville part OF IL
An agreement between General Swaync and Gen
eral Cutting was shown to tue witness WIN 'ho
question:
Under this agreement certain bonds and moneys
maid 10 General Cuttlngl
General swayne- / acted for the Wabash st. LOUIS
and Pacific Railroad Company ~ their attorney Ia th'
matter OF the transfer Of securities by which th co
tract eventually cnnsummaiei delivered 20 zen zen,
er Cutting the greater part OF the 1000 oustahlhE
bombs already referred to AMI n-" delivered CHECKS 10.
an amount o, money -ulr ont 10 ray, az par iOr n
more bonds make up the 1000 bonds or S-'oOVVoV
/ money. - ,,o , ..,...,. l.,
HVercdf Al remember except that. as ucar ~
can remember the OF called fo- ny q
cnccks that delivered 10 him was FGpoOoo OF 'Oouuu
O. Ant that WIS III the summer OF lSSlI At was
at the time of the contamination OF that; ,
Q-What were those clcoksi A. DO nor rem nI
precisely except OF them. ant that WIS l'ussoI
SAGE check. think the checks were drawn TO Cen
o. How doe, 1t happen that while the contract calls
for 900 bonds, part Of the payment wac cash Al
were plnccl in my hands and was instructed 10 deliver
them To- General Cutting and to deliver l" IN" hts %
par: that j. al can state, of my own knn" l"t;c -
Q-Tha ia taking each bond on basis OF being worth
DO ~ Won remember TO whom you delivered those
bondsI A'-Not definitely. no cir. Ia Tact. d. not
think delivered them personally at all ] think gave
thew NY head clerk AMI told him &" deliver thon 10
We're the payment 10 General Cut'mc Of tho
money. and the cheeks and the delivery &" .m OF me
% Can yoa state whether General eating carried
out his agreement at the same timei Al rrrci.ed
from Gcnral Cutting the securities ca lei for by these
contracts
Mr. Root then took mp the examination
O-Tho-c 1000 bond, iLen remained IA your hands
trustee until ;Ao lime OF tls ar'heS A
they were in uy hands, hut no thnh they were In
- the Representative Of In Wabash. ~. Louis ana Pa
cic Railway Company aud other parties To the CONTRACT
he delivered makers Of the enc Z, Of which yon
spoke been rycici PRIOR t. tho delivery oI thru
Al do nos ihirE any OF tho bonds had
ever been out Of my hands after hey
lnr delivery 10 General Cutting followed Immediately
upon the tact OF my certificate
or caused to be dsir.6ucd among the maker, OF the
checks the time of such distribution A-heS
0-Tho.e bonds which went to tho makers OF these
Checks went 10 General Cutting aud came BACK
0-IGcrc Vas no purchase Of bonds from hint A
n YOU ak question must 10 reply. that tue
original Transaction for the delivery 20 General
Cutting 900 non IA OF 900 each tina. a, lar -
sons whusc cheeks were gwen lad agreed Lkc
OF those bonds OF par ani give him Instead the
/ par value Ia money Tor thosc hOLds.
O.-Can You giNo any more information as 10 tie
ohrck- which yOu handed 10 Mr.. Cuttust Any rccO
lection h that Salon lumphreys. either FOR fimNlf
or for the Gru 81 l.. -. Morgan Co.. OF winch lie wa'
a partner TO OF those huud.; but whether his
check individual given To- ~" or the check or
T. D. Morgan 4 Co. cannot renemhcr A. Ia the ohrr-
could only siatc an Impression ana WOuId not 20 VII"
to state
O.-Wrrc tho.c than three checks A.-Thcrc
iray have four. dId >ttrntlon. Tboy
were handed after breakfast perhaps before II O'Clock
Mr. Z.brsllo declined 10 crOss-cXammo the wit
ness
William VI Beach an employe in the Office of the
Wabash ST. LOUIS and Pacific Railway Company
ties flied that the agreement was executed on June
~. Isl and be had mAde q Cnpy u II.