New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-04-09
fSN.TLECTRIC LICENSES.
.up WASHINGTON TELEPHONE COMPANY.
Tock. S5,Oo0OO0 PAID IN CAPITAL, $500-wHAr
Mr.. GARDNER KNOWS,
ley TELEGRAPH TO THE TRrBUNR.]


wAsruNeroN, April s.-The n-Electric
c.mm,ttee today beard the testimony Of Secretary
xsrauer Of the Washington Telephone Company. OF
We licensees Of Mr.. Garlands company. This corpora
on was two years under the laws OF Ten
the impression which Is said TO be erro-
eous that they do not require that the capital stock
mall be subscribed and certain part paid in before the
1eenniug OF operations This company agreed to pay
efourth Of its capital stock the parent company
n. capital stock fixed at and each Of the
ter original directors and shareholders paid In $50
subsequently tho paper capital was reduced onehaf
and PanEleciric grandchild known as the
Washington Telephone Company OF Maryland
was born. II is poor company with
only 5000 900 OF capital stock There was some cash
put into this corporation. $4,000 Of 1t being the pro-
ceeds Of sales OF 500 shares Of tho parent companys
stock at $50 share to email investors. Casey Young
was one Of the incorporaors Of the Washington COM
pany and the minutes Of its proceedings show that he
took active part in lis management. although he has
testified that he knew little nothing about 1t and
never attended more than two OF its meetings
Gardner gave impor testimony to the effect that
he made three copies Of the Pan Electric National I
proved agreement
Mr. Gardner said that the company was incorporated
in Tennessee and that it's charter covered the TWO VIZ
ginias Maryland Delaware and the Dstrot OF eoump'
IN. Electric had paid onefourh OF the capital
stock as consideration for the franchise The original
capital Of 100000 reduced one-half
BY q supplemental charter in July. 1884 Each
Of the ten stockholders paid in $50 when the company
shares each for promotion. and b. HenRle. the Balti
more agent was authorized TO sell 500 shares at $40
share About $4,000 obtained and an exchange
and private lines wero put into operation In Baltimore
The company also had few private lines In virginia
and line in the District of Columbia 1t was intended
TO start exchange in Washington within short time
About half OF the original 600 shares remained
undsposed Of Each OF the ten directors was allotted
$50 shares annual salary The attorneys were given
was allotted number OF shares In lieu OF salary Casey
Young director, never received his shares ana they
in the stock book The company never issued
any other members OF the Legislative Judicial and
Executive branches OF the Government and member
OF the company held any Office under the united states
The witness denied that he had had the
tion with Harry Rogers about the Government suit
detailed by that gentleman. he had reference In
that conversation entirely TO the private
again to ask him to his recollection the witness
refused positively to admit that reference had been
MIR Ranney asked II the witness had not maze copies
of the contract between the PanElectric and National
MI Gardner said that he had. but unable to sur
mise where Mr. Ranney got his Information. lie was
not whether the contract that he copied was signed
by Young and Van Benthuysen.
When Mr. Ranney produced the supplemental con-
tract witness certain that not the paper
that he had copied
Mr. Ranney requested the witness to repeat the sub
OF his interview with Harry Rogers about the
Mr. Gardner wished refresh his memory from notes
bur Mr. Ranney refused to allow It, after the witness had
admitted that he made the some two three
weeLs ago The witness could not fix the date OF the
CONVEX saion and little Of its substance lie was sure he
had never had any conversation with Representative
NcComas OF Maryland, about purchasing STOCK but he
did not know whether that Representative had any of
the stock Of the local Baltimore company.
Mr. Young who sat IN the roOm asked the witness II
he Young said anything to the witness about
Government suit, 10 which tho witness replied that he
Government suit before the beginning OF the Interior
Department proceedings, and probably not even then