New-York tribune., 1886-02-01
THEIR EYES WIDE OPEN.
FACTS ABOUT pAN-ELECTRIC STOCK.
soME OF THE INVESTORS AND THEIR iNNESTAEH's
FAVORABLE TERMS.
roy rrLrGRAru TO THE TRIBUNEJ

FAVORABLE TERMS.
taY TELEGRAPH TO TIE TRIBUSEI
W,suiSGToN, Jan. 31.-AttemptS are max
,u 10 crc.te the impression that Nj Garlahu anu HIS
con,ederates to adOTt word used by Gchef"i mar
n.I wright L, describe the Pan Electric sioehhoderS
o,unv uosition analogous to that OF pubic men wh"
how. made Investments business enterprise te suo-
,oss o, winch was not wholly Or mainly dependent upon
tho uso OF Official influence and power IL sho"'u 'o
,s,nc,nere however, that was clearly uhoee'"o"" y!
the Democratic and Representatives VINO e''
iarked ia the scheme thai she.r names AMI lhHuece
,ve, ia coustus large share o the WORKING cahtai OI
The e.lpnany. The thing WAS hheers' 'oh y lc
IN whom stock was offered as donation ana "Ho "o
clined 10 accept the terms proposed anon NOSE
Win TINS refused were Samuel J. Randall, Jolln t. Cr-
lislr A,rn,n : Hewitt ;. = Cox, senator McDohHId
u6 ouis L. NcComas. Apparently they did not re;ari
the acceit of speculative shares on suc terms aS
consistent with their duties rs Legislators Dr. D. W.
Rogers who conducted most cI tic Negotiations ueciFr
that hc Oil not suppose that he WAS deaAhs WIN III
loceut babes but with business men and men OF the
vo,Id sho understood the whole matter and WAC nave
since shown that they know low to take care oI tAe
own interests.
race Is 81 clent evidence to show that Messrs. Gar
land Hlrris Johnston, Atkins AMI others cohcerhe"
knew what the scheme involved on February 10 1851
senator Harris saw uuproi ioiy ia gentlemen hOI'
I'm, ooiral uosi ions as Atkins ana myself uo peooiu
Interested in an enterprise such as y0a suggest ''
Atkins ~ that time a member u the AlPFoI
Committee OF the House OF representatives. /" 'uo .o
lriny December he was Democratic caucus candidate
for Clerk oi the House and was dcieaiel OJ 'Ae c' "
single vote after the roll had been called p"ul'o.
,repared b Dr. j. W. Rogers which was IN the hands o
the uersous Interested the date mentioned" stt i"r
fully Tho nature and scope OF the enterprise WIN" III
cluled not only general telephone ana 'e e5r"Pn
hrsi,ess nt postal telegraph system TO lie established
on the Rogers patents by the Governments Inc A's'
comuauv WAS the PanElecric which was I0rmeiIy or
oauiled in the city OF Now NOrR hy Gdrah" hdrEI''
Atkins johnston Casey, Young AMI j. Harris Rogers
Anpue themselves the vbue oi the Improvements us
cover cs and inventions OF Rogers were To DC 'Sl'o'
NJ $1,000 600 OF which tour-teutho were allotted 10
Rogers one tenth be the property o. the copa!
and oneteuth the property OF each Of the Other ncor
uoratoys The capital stock OF the company was 20 DC
5000 ODa 100000 each to senators Garland ana h"r
ris CousreSsnen Atkins AMI Young ana eA-N 'iSIeNs
man Joseph J.. Jo nstOn Each oi ihese mon was 10
nay The prncey OF $3.50 IN cash for his oooo'o VI
,l, I,c, ~ them also held an undivided interest o'
onatsnth in tie 100000 retained Cor tie joint benefit
OF the company and also to receive PiopoIo"''
interest IN the stock OF two otheI companies 10 DE o
ihe1,atog under the Ro-ers patents one "I tl'ss Is
the Pan electric Telephone ana Telegraph OoHP"n!
which Wa, organized under the laws OF Tennessee III
pctnler ss3 by the same persons In th"t company
,be aout o shares held by ctcA 0i the original stock
ho'ders WAS the sans his share in the Fan Lee
$4,000 Ihe ot'eI TIlSa,ni n,c VI @ ComTany in which
accordin. TIE letter al d.. j. " rogers a. =
iiL .. nm IIertric ~ t5ckno iers were entitled to
shares amounting to 10000 tAcn ne, ane S'' a. n i
tanned IA ti,t letter nave not been oehlt IN pun
i,sbei circular ot the Rogers IooAlah ana Ie4s!.'h9
I's,c.' ,, ,a,,rs tbe fo,oWiug: miniature Uuled
Stafas postol telegraph and tcleAone l. now heiHS
worked il WasLins stOu CIy from tal'oi hul 10 a.
,eentn-st ana from The river landing 10 Ihdla'
T, rer resent tgO trupk lines propOsei @oro'a u
roniineat and from the North to the Dull OF NtA!cu.
6i w ne presented to Congress, asking an arlFopIIa
fion OF $40 100000 u construct these lines me 'Vo
aue value Of TINS stock Is nat III 'it IA a. %
company combines the chiei ai'anIaso9 % a., M
companies, ,nd in a addition 10 tHelh l's - ~" "
one OF the directors OF the Rogers IeeGr"ph ana eio
phone Company when II was otGalIiLetu lH hn ,ys
then chairman OF the HOasc Committee On fost One
and Post Qoads. The other directors were Uumoi % a. c
General Frank ArmstrOng OF ieXas, secretary eA'
Congressman Klaiz OF Pennsy coneIi,r!
Harris Rogers supervising eiecIItAh OSioet t, ~.
Mi,ss.iupi. General ArmstrOns w since ueeh ~
noiped an Indian Inspector b. secretary Lamar i
iel Looney Il member OF the Dthocraur y Sh'ionu p
onii a. and he 10 also OF the directors o the lah-
Electric Telephone and Telegram conp@Gles ino a
cordilg a recel Published melc; & ~ri u,
Railroads. pres'Vhn.. u Garland IniteI states
Senator, vice president y, IA .', W,nn~ ~ Con
eressran secretary and easnrer John e BToTa; e%
OF Indian Affairs. and Harris Rogers Lie
inventor Besides the persons whose Haines Ia & {
cr.ts and cx xConfederaes OF note have l0lnel IN te
Pa Electric combination. Among them are nh iSi & So. =
to be ex Confederate Major Goneral Marcus D. NIiII
of tennessee. Agent OF the War Drpartment j; D.; D.
TI shaw Chei Clerk OF the ludl"n bare'a; H. u
nm OF Virzina, United States Indian Agent; liIIe,
Staies senator George G. Vest OF Missouri; StOLtad
Johnston, of Kentucky, chairman Democratic StHte
Comr,itt g. Brlgddief General B adtc
T Johnson OF Maryland; ex Coneressinan henhle, o,
States Senator Arthur L. pOILdh' Ui
M.ryl.nI; General johnson Of AaD ana, ana J"c"D
TbO;npson OF Mississippi senator vance OF No'ln i,
Caroina II is understo6i bought two hundred shares G
Pan Electric Telephone stock at % dollars suaIe' MAJ
the regular selling pce. The rcdu;tl0D III he case II
said 10 have been tie investment was noi
for his own benefit but one tt ne wOulu ctI oo"1
10 mako good from his own money II the stoch Hhp
furn ont to be worthless. The names OF plumber 0i
other senators have been neut oncd IN connection @ Mn
purchases OF Pan Electric stocks Among tncn "eIe
sad To be Messrs Brown, OF Georgia Call ol florlda
Coke and Maxey, OF Texas; George; OF Miotlsslppli
Jonas ot Louisiana; Morgan and Pugh OF lhOamh 'hu
Ran ON OF North Carolina IL Is SUI p)td mat mos Ol
these investments were In local companies ilcehsr4 =!
many Democratic Senators have received STOCK ID tt
local cOinpaues terms as faNOraOle az SehStol
Harris Attorney General Garland and their coneder
aies OBTAINED stock in the parent organization