New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-29
THE COURTS.
MR.. CHAFFEE CROSS-EXAMINED.
little pIITspURG DID NOT "PAN OUT" AS WE


LITTLE PIITsDURG DID NOT PAN OUT" AS WELL
AS HE EXPECTED.
Justice Peckham, in the suit of Artemas IL.
Holmes against ex-senator Jerome b. Chafee aud David
H. Moffat jr, declined yesterday 10 permit the defence
IN uresent evidence that miners and experts, after cX
aiming the Little Ptsburg Nine anxious to buy
the stock He held testimony on this point had
been taken. Mr. Chaiee was cross-eNanined at much
length by Francis " Bangs and said that he had been
more or less public life since he was first elected TO
the United States Senate lie had addressed the Senate
very seldom He had written articles FOR the press
He made no calculations 10 the value OF the mne
knowing that but small percentage Of IL had been de-
welcomed He did not know whether 1t would pan out
$50 600 900, the amount OF the capital stock lie
imagined from the amount developed That at
least 100000 S3,O00,OOO would be
realized, and thought that tho amount
might he 500 600 900. When he wrote in one OF his
letters that the mine more promising Than he had
expected he that 1t was developing better than
sigbt a Than in July 1879 lie was positive whether
he was present AT meeting OF the executive c1mnee
Wilson the superintendent OF the mine was read at that
time. lie did not know whether Mr. wilson as present
witness visited the mine, the ore was IN blocks He
thought then that there was larger amount OF ore t"h
lyon refer. suppose" said Mr.. Bangs, "to ore con
ceaed from sight Was not this matter OF conjecture
I'm mining parlance" replied the witness we make
what we cail reliable calculations, from the ore III
MT Chanee said the calculations In this case ala not
turn out 10 what expected The hrt intention OF
the projectors TO keep half the stock. After
| ward they were induced to part with IL DC
| cause the directors said 10 DC selling the
| stock short, and bad reports came from the mine;
They then gave up paying dividends selling short,
expained the Witness is selling something that you
haven't got" lie had no record OF dividends paid MI
Blaine was stockhOlder and received dividends. The
| books would show the amount OF his dividends
AZ think" said Mr.. Chafec In response TO question
nv Mr Sewe that Mt Blaine bought stock soon after
| the general examination Of the mine lie paid $40 Il
share" ~ -.
| O-How many shares did he own Al don't re-
| meInber IL may have been / 900 shares or less.
| B-Did you make any difference between Mr. Blaine
and Mr. Hemes In the price asked for the STOCK All
| was never sold for less than S2oa share. -
| The witness said Dodge, Potter q Co. received " q
share selling the stOck-n all over 100000. lie had
been waiting for months for this suit 10 come on lie
had purchased house I'm this city, aud had given IL
TO his daughter the wife OF T. Grant, jr Mr. Bangs
asked what firm the soDnlaw OF the witness had been
connected with and the response was Grant Ward"
George c. Lyman. secretary Of the Little Plttsburg
Company gave the names Of those to whom the stock
was issued and the amounts The trial Will be continued
| to-day.