Wichita eagle., 1888-02-18

his opinion of the Reading company to
pay its enormous debt and value of its Sc
curities. He replied. finally: l would not
own one dollars worth of its bonds except
very early ones. Others are worthless.
The company can not, in my opinion, pay
its debts.
When asked further whether he thought
! the road would go back into the hands of
receiver he said yes, and that will hap
ben at least within year, from present
indications.
The committee then recalled President
Corbin, of the Reading railroad company.
His attention was called to the require
ment of the charter of the Reading COM
pany, which required that its president
should reside in Philadelphia. Mr.. Corbin
asked. II have residences in New York.
New Hampshire and Long Island as WELL
Mr.. Anderson-Where do you have your
washing dones
Mr. Corbin Gndignantly)-I think that
is devilish impertinent, to go into my pri-
vate affairs.
Dropping this line of inquiries, the com
mittee sought to obtain from Mr.. Corbin
something OF the history of the former
financial difficulties of the Reading rail
road company. He said that the last divi
dend of the company was paid in 1876.
And" said Chairman Iillman, sit will
be a cold day when it has another?"
Mr.. Corbin objected to this sort of in
quiry, stating that the committee had no
power to go into possibilities of the future.
Il supposed" said Mr.. Corbin testify.
that this was fair investigation. l did
not think you came here to personally
abuse everybody connected withe Reading
Railroad company, and call them thieves
and robbers"
The chairman-'sI do not do that, / am
gentleman, and can answer for what | say
or do'
"Well,". said Mr.. Corbin, 81 will answer
such questions to the people who own the
Reading railroad and not to the public.
who have no business and no interest in
it,
He absolutely denied knowledge of any
combination existing or that ever did exists
to limit the output of coal and to keep up
prices. At this point Chairman Illlman
pressed the witness for a statement of the
interest bearing debt of the company.
Mr.. Corbin grew angry and retorted that
he would like to know the grounds for
published report; that the chairman had
called the Reading railroad officers rob-
hers and thieves and reiterated his state
ment that he would hold himself respon-
sible to the owners of the road. He denied
the right of the committee to go into the
roads private business. He declined to say
how the company could get along without
its coal business. After a long series of
heterogeneous, Mr.. Tillman drew from
the witness the statement that the inter
est charges and the other fixed charges of
the company amounted to S1O,O0O,0G0
year, and Mr.. Corbin stated in reply TO
further questioning that without the coal
trade, the company could earn its fixed
charges which We're over 81 ,000,o00
"But do you expect" was asked, Ito
make more more than $40, 100000 with your
miners Out?"
Mr.. Corbin-No, but our miners will be
back and ii your committee will stay here
ten days it will find them all at work
again.
Judge Chapman said: "Mr Corbin, it is
the belief among the coal miners, and has
been stated publicly, that it is the interest
of your company to have strike at this
lime, it may be of advantage to the COM
pany to have a strike in view of the com
panies financial condition in order to offer
that as an excuse for it,"
Mr.. Corbin denied absolutely that there
was any foundation for such assumption,
and added: Il wish the committee to
understand that am ready to furnish any
information that can in reason be expect
ed to, but don't acknowledge the right of
the public to know the papticulars of the
financial condition of the Reading COM
pany. think now, said Mr.. Corbin, the
Reading Railroad campany has passed out
of its muddy state and will stay out"
Mr.. Tillman-"A former president of the
road who testified this morning. did not
think So"
Mr.. Corbin-"Well. do and ought to
know. l have good deal of stock in it,
and believe in it or | would not have it"
Mr. Corbin was dismissed after having
failed to get an answer as to whether or
not the chairman was correctly reported as
saying that the Reading officers were
thieves and robbers.
The next witness was Thomas M. Rich
ards. general sales agent of the Reading
Coal and Iron company. His examination
developed, among other things, that the
price of coal at Philadelphia had risen
81 to $l.715 per ton since the strike began.