New-York tribune., 1886-06-05
NEW YORK AND NEW-ENGLAND
BONDS.
THE LEGISLATIVE COMMITTEE REPORT.

| SUSTAINING THE GOVERNOR AND ExoNERATiNG
Mr.. FIELD AND HIS ASSOCIATES.
BOsToN, June 4.-The report OF the Legis-
lative Committee Claims the petition OF Cyrus W.
Fold against tho Commonwealth, In tho matter OF the
sale Of New-York anI New gland Railroad bonds.
was submitted to-day. After detailing at length the
adduced by the evidence before the committee the
report says:
"The sentiment is still jealousy maintained In Masss-
chuses that those who stand for trustees OF any cor
poraton for the public shall. in all matters SO IN
trusted them, keep Iber hands pure from tant of PIX
greed Some OF the persons from whom appeared
that the and Council received the Information
as to thenentions Field ani Sage called
and testified In the hearing before the committed Ihey
are well-knOwn citizens OF Massachusetts, who had In
tmatc relations with the New.York and Now-England
Railroad Company. and the statements concerning the
intent OF Messrs Field and as to the railroad
would naturally influence tho action OF the Governor anu
Council Some II not all OF those statements were gwen
evidence to the committee aud were offered as JUS
callon Governor and Council In refusing to ac-
cept tie essrA f ell and Sage and others and SELL
ing the bonds Mr. Higgnson There was no claim or
evidence that the and Council acted from any
or dishonorabe motives in their disposal OF
the bonds but that they acted solely for what tn ey con-
sdercd the best interests OF the State"
The report then reviews Cyrus W. Fields testimony In
refutaou charge that he intended to wreck the
road and his disposition TO assist In relieving
of stock held in the road the time by Field. sage anu
David Dudley Field the report says that t 10 not ceir
from the these facts were known 10 tnc
Governor and Courcll the time OF the sale OF the
bonds The possible necessity OF forecosng the mortgage
freely spoken Of by Field and many other dtee %
about tiinc OF the meeting OF the directors OF tc
company Oh september 49, 1885 Ia the light OF ali the
facts tue committee that the Language OF
Mr. Field 9 misunderstood and that when he spoke
OF the foreclosure of second mortgage he expressed
his opinion OF II unavoidable Tesu. under certain
rather tnan as part OF plan TO nJure tho
road, his large interest In the road AS "a
/ tockh ter
riei hostile to lts interests and when IN
this consider mis- friendly acts At the sep
tember meeting referred his subsequent pnr-
chase preferred stock and his sworn testimony before
the IL but just 10 Interpret MS language
in con formity with his acts an his interesta
The committee therefore report that upon careIui
consideration of all testimony given before them
they are the opinion that at time did Mr Fie or
any OF his have any plan or lnen-
on hostile interests the company or ITS bona-
holders stockholders or creditors ana tnat IN case
they had bonds they did nor intend Z"
forclOse the purpose 0t making money
by cssenng the value of the stock njuring the crr
tors The committee agree that no legislation Is expe-
dent necessary and unanimously recommend the ac
ceptance of their report final on the matters con-
tanned therein.