New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-03-16
THE PAN-ELECTRIC SCHEME.
EFFORTS MADE TO FLOAT THE COMPANY.
TESTIMONY OF j. II. RoGERs-How THE STOCK WAS
DISTRIBUTED.
rpY TELEGRAPH To THE TRIBUNE
L.. 4 L d.. L. 4

ness account OF expenses lncl1reu ON hlh' VIM"
Abram $ Hewitt declined, because of i'll health and
pressure of other business TO engage in the PanEec-
trc enterprise and when the one-tenh which bad been
-,osorrod r Hewitt or some other New-Nork man
well known in the financial world was not devoted
~ that ohiec, Mr. Rogers thought that il belonged to
him Tie eonfcderates " took different view OF
the matt or and un6e r the terms of the original con
tract divided the onc-tenth among the associates.
according t. thr amount held by each originally For
examnlc the $4,000 in stock bought by Senator
Vest was taken from the reserved one-tenh and each
ore Of the ground floor " statesmen received one
tenth Of .he proceeds Tie confedcra'es evidently
lad Keen eye to the min chance. II appears that
ocb ore Of II en- rec ived considerably than the
one-tenth which the generous Rogers had agreed TO
Give bim For instance. 100000 of the reserved
stoc went to OK Go, ernor john c. Brown, of Tenn
.ssoe a member Of the Democratic National Com
mirtee who was taken the e uud floor mainly be
cause OF his supposed Influence AS Jay 6Ould sal'ohcy
for the Southwestern railroads In the original coll
tact Rogers reserved $4,000 IN stock TO r'ue'i
promises that he bad previously made Inns amount
WAS to be deducted pro rata from the shares Oh "
the beneGcaIies Ii that the officers oil 'no o
many refused and still continue to refuse 10 ISSUE SUM
OF this stock 900 of which went to tne new o
Rochfcrd OF St. DOmnic's Chnren. III Washington
$40 600 10 " Dick Wintersmith, of Kentucky VINO
II.
General Marcus J. Wright. OF Tennessee. an enploye
~ the War Department. aud like sum to "ehelai
Pike The last named investor has never received MS
certificate Of stock although the testimony docs poV
show that any one except Tim paid anything lor HIS
interest. $50
The witness said that the considerations when III
fuenced the gifts OF stock to Messrs OarlaA" h'iS
and the others we're first mat they were men IN hEn
official station and OF National reputation who names
'.,I D.. rl.d - . guarantee that the affairs of
"o"''' ,,,,,l1 Inc ,poYao,d honestly and honor
.blv. second that several of them wee shrewc ana
",' -. ,.,l ,;,.,,,,i,r WAS anticinated and third
N ~ ,Io, we're almost lifelong personal
~; ,ohor 81 far AS the witness knew
= o,,,.ti,n Inv any of his associates
'"''' "'''' ;,..:.,, rs, Conr,ns, for the
to "'''" p, ~ - c,,,,,,, Of course when
p'"''' - ~ -. of tlo establishment of
'N''' .., ~, ,lc Government the fact
posi-" '.N'"t" - w.. &C which c,cDtually
that LEGISLATION n''S"' u ,.rIooi.rd ON
- -, N.,,-or Iiarris sal that if postal tcle-
one oc'"S'o" ''""'0, ,,t ,otoro tho Scuote lie
gr"pi pH 'no"u W 80. -, no yros inter
Won" iIN' ~ '' - - 80, l..li,e IN vote
GU" III a. '''' -; 'l b,. NJ Oates rs to the
INV ",'"' iioh Mr. Yornr stated that
Gaze oI '". ''''' ,-C' 49,, ,;.5 - r,ino suit
Attorney Oth'i"I N"''"''" "' ,i Tho
lie rem led that il was son time early III JN' l"'
" .;. Nth y,,,,e, was in the later part of
seC'"" ,.. - tl. statement As to Youngs
JuE' Wines ,,e fl. interview. At the
language on the occasion % the HI9' '"''i' W. "
second interview the whole ground was not gone oN''
NJ, .,,5 .l,,, II os , matter that was Wcll-knOwn
nv w, ,id that il Sos better not to
be'"''h '"'." i''"7 w., ,,,.ol tl,o+ yo,,r,
say ANYTHING about II. witness HUpP"s'" '''' '7
l;I NOT GO am, the Bcll ueoplc Z, hear about it, 1t was
Co., i,..r,,io,. that Yollno said that as Gar
durinl the "'s' ln''l VIZ" ,''' -. 10 .ol, c.li
land was Attorney Ior tue I'l-i''' "
49,, -, ,J-..,,... ,-as decpl.. immersed by
drought ~ '''' 49,, r,r.,,io, nearly vyord
thls. ana RENE noo'V" '"' ''
ly word
l. 80. ,lot when Senator Harris Commissioner
n ,,..r. ,..,,, ,,erso,,allv IN see Abram
RlRln' "liN - ~ No. =: L. dol;.,,d q,
). Hewitt III relation 20 inc 'ii''iP'' -
embark in IT Tor the before stated pHt gave
+ber, p,fe of introduction TO General Eckcr of the
r.; -.l.,r.,,b Con1nqny which they pre-
Western mon leI'4r"P" 'o'P'"''
scented. The witness was not asA'u "Il'' 'o0N nav -
.ho interview, with General Eckcrt.
~, 30, ,si,ed whether any efforts were made by
MI ''"''' = =, ,.,,,t,ers IN sell stock TO
the company u any VI ~
CongTes Sncn.
Mr. Hall q democratic member from Iowa, promptly
NJ ,....;.,. ..,,. mot sustained I,v Chair
oWec'e"' ou' us o'j " 49,, a.. -, ,,,.+,,,c
man Boyle, and the Witness 'csti"e" ."'' ct
r tho pal lertric directors Casey Young stated That
..., II. Of the House had mportuu ed him for
iHaA! "'' -. :. ,.,,,,,d to oct in M, tho
stock ana 'A'' h'S' v. -, l-;tIo lie tho, gbt
ground moor or a. ~ " , ,ld L,,. if he had an
that al least twenty o. lu' WU".' c,ion as 70 the
thority 10 sell. mere was SUM " u - i.o .o1d IN
price HAT should ne pun upon 'no 80 s1Uu Lfing
COngrc,amt u; 30 per snare III n1"e riN,d ,La7
suggested, but inal"5'I VI ' matter WA, left in
that Was 100 ulu'H anu :. = H., ITO host he couIG
The hand, OF Casey Dung 20 90 ,io tTt yLcn
The witness had an hdiHlincl l.Coi,, avn atJ hat
Casey Dung brought up 'he i"''c4 I -; It. ,,-,,I,
perhaps there were P"nn'y%io Tla,."s ,ra one
flroaay. lie thot gnu Mi, il"n, T1, a. LrirT any
OF the ''n ln'iu'n'L 40; ~ not tnoT whether Young
ELECTED any sales go. o,I;o,t r,r the rlaco
In $50 the witness "99 an "tSSrtnr. Harri. and
Of tn. at4 a
Garland saw Architect OIAIh II ms i "L,"' cri in
Johnston took the witness 10 see oPS"hvi Lal"T ,I
regard 20 the same mattel N"''f io"nri t4,t,nr
Congress organized. wrote 10 nm OF ms ii,,'
that hc thought the mater Soi" w ia el,l t In.