New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-25
IBY TELEGRAPH TO TIE TRIBUNE.1

any member of the House or senate or officer Of the
Government in silver speculaons, it possessed sew
eral features Of interest and brought in the names
of persons and business organization, from whom il
is barely possible that evidence may be obtained.
one curious feature the difference between the
statements Of three witnesses in rcspcc; TO the amount
Of silver bullion deposit AID in storage The
Director of the Mint submitted an official report
10 the visible supply Of silver in the New York mar
lets on December !, 1890, and January /. 1791-
about II go, 900 ounces in December and r.
$4,000 in January being increase Of about
747 900 ounces in month. This. he sad. wa,
covered by certificates Of deposit issued by the Mcr
camille Trust Company, TO each Of which attached
coupon issued by the Western National Bank. said
certificates and coupons being for 1000 ounces each
and the coupons being transferable without notice.
either to the trust company the bank. The Ger
tifcates first became an active feature Of the mar
ket about May /, 1890 when silver legislation was
pending in Congress; before that silver not purchased
by the Government was usually shipped 10 London
The certificates We're bought and sold like stocks and
bonds either on margin or for investment.
II. V. Parsons, New-Yorl agent of Wells, Fargo
Co.. testified that. in Ii, opinion. the surplus silver
bullion on depo, in New York amounted 10 @sooo'ooo
$4,000 900. ahOut six million Of which was rep
resented by silver certificates and the balance by
warehouse receipts.
Mr. Mccartney, a Washington banker ana o''"'''
who is member of the NewlOrlt stock tN'h''E''
testified that the amount of silver certificates 0uttand
Ing is for 100000 each certificate being lo
1000 ounces and that "to carry these cer'ih'a'eS
costs the holder about per cent q year IN c'hmlS
siOns, interest and storage. The Washington MN Vi
which he is partner holds about S2"o'oO" oi '"eNo
certidcatesall for private accountand 50 far a. he
knows no senator. Representative or officer OF the
Government is Interested in these certificates o! la
ever dealt in them Nj Mccartney took occasion 10
denounce the wall Street newspapers. copy oil one
of which he exhibited a. a sample, a. utterly nh""r'N
Of credit. and their editors and p!olleto'' a. men
"who would sell themselves, body and soul, for -
lie also declared with heat and good deal OF
emphasis that there never any silver pool out-
side of the newspapers"
1t NAV be remarked that the only witnesses who
have testified thus far that they were convinced Oh the
nOn-eXi,tence of silver pool are Mcs>rs Ltlcr ana
Mccartney. both of whom have been engaged III silver
spccuati0ns. The testimony of MeN>~. Lee'l' N'-
CARNEY and Parsons today seemed concu>VoN 10
demonstrate one fact. which l.. that any effort 10
trace and identify persons who have >pecrlaieD IN ="
bought or sold silver bullion certificates, Wac"'a~'
receipts or Calcutta bills Of exchange 10y GAZING IL
witnesses banker, brokers through whom >Hch p"r
cba,ts were made must fail. The officers OF tl' Me-:
camille Trust Company or the Western National BANK.
for example. could not tell. nor woild tlef Do'''S
show who the owner, Of the certificates are hc'a'
the certificates are transferable IN blank WITHOUT l"-
dosemcnt or notice either II The trust COMPANY OF inc
hank The ONLY prac;icab" way In which Tn" com
ni,tee can ascertain the facts respecting alleged SILVER
cancellations and transactions 10y senators or fep'e
scntaives therefore, seem, to be to cn upon each 81
them to testify 10 the facts within his own hhp"loE
This is what Representative Dorsey dld '"oN' ia"
what senator Cameron would have done II ne ma
appearrd before the committee as it was expected
be would do.
Colonel porsey's testimony iather Interesting
lie is banker and naturally. when Spectator ieden-
berg of Chicago. showed him one OF the l,ooo'"h'e
certificates, he examined the form Of it, but ne 40 ho'
invest i'm one and Heidelberg did not ask him 10 90 So
oIthourh he might have remarked that it Wou!d DC
Good Investment He added that lIcdcnbcrS seemed
IN bc a philanthrop,t. but had lived in Chcd4"
Number Of years" where people were IN the haDt oi
speculating a good deal Colonel Dorsey did ho' An""
of silver purchases by any senator or hep!c>c""'0
nor did lie know that any effort had been maze "
prevent the pending Investigation, after It had Dee'
propescd in the House by NJ DochfY, {" Missouri
There i, a runor that two Eepre>enative>-one ir"V
Vera aka aDd one from Kau>a,>aw senator 'dih ron
after the resolution introduced and proposed Una
bc bould see senator Vest and have him persuade MI
Dockcry 10 drop the matter and mat Nf' 'ah'i"'
Aid nat do it. Of course he can clsy dispose OF the
rumor if il be untrue. when he appears Dl"c ''o
committee or can sul-taniatc it II iiN'' II Is 'r'
don't however from Mr.. Dorsey'S testimony that h'
Is moi the Nebraska Representative referred 10 III inc
rUmOr.
The offer of Mr. Stevcn,. Washington correspondent
~ The Il L0uiS Globe Democrat 20 read d I't'
u iCh be had Y
his vjlluclc., 10 appear and testify, was declined ana
Ia band.d the letter to Chairman Dinghy. WHO eA-
anircd IT, A. did other members Of the commit .
The same course adopted in r'-aid - '''t ~
lame, furnished by Owculy 10 Mr. stevens ana D>
the latter submitted - the Chairman. II i u'''
stood that among the names or firms on INC Ils' d'
those of the officer, Of re Hanover National 5alh' inc
weston National Bank and Kouutze Er,heis. oi
Nov. York According t. OwcniY. the Ei>t-nam'u
err, had the management Of what he STYLED the 'oio
raiO p0o' ~
In the examination Of Mr. Parsons, Colonel oates
asked question respecting the character OF VWchN'
yrbep Mr. RowelI a mcmbcr Of the committee. re-
marked that ~ thought it womb be better for inc
committee 10 abstain from entering upon that que
,ion until Owenby appeared. That line Of inquiry
nrnhally will not DC renewed, at least before ~ j.
certain that Owcnbys testimony cannot be Ohtanco'
a. nj, character docs not seem to be al present "
legitimate subject of investigation.
,..r The last winc>s had been retired VIZ. DIeIcE
made A pleasant short speech t. the newspaper CORE
.,,udent. urcscnt SAYING that he realized that the
,c,diur pulic would derive lis Information ana III
nrc,.ions from the newspaper reports Ihd' S"'"
report, had been accurate In the main. ana tiat he
he,icv,d mai the representatives OF the press were IN
.rir.d Iv a sincere desire and purpose 10 give INC
tacts aud convey correct impressions. The text oil
his remarks Wa z Washington dispAich published Ia
Boston, in which il was stated thii IL seemed u'tt
the committee had purp0,ey delayed the examination
OF senator Vest until after the Hcid'olid oc''oH III
PENNSYLVANIA in order that his testimony might not
iuiure Mr. Cameron's prospects. Chairman Dngley
declared that neither he any other member oil
the committee had received any IntlHatlOn Whatever
from any source until after Mr.. Vest TOOK the stid
an wednesday that his testimony would bring III the
name of any senator IT had been UNDERSTOOD
,h,t ho desired simply II deny that he
Io, had been interested concerned in silver specu
,s,ons. colonel oates explained that the adjourn
uent Of saturday Nednc'day waN a. N, Fcpc't' a.
he had an engagement III New l"rH; ritt ,t
there j. stll excellent reason To- believe IL J., hl@S1lhef
nro,abe that the testimony OF VIZ. sc5t "yuiu m't0
~ ri,en an saturday if no >enarridi ci'ciDh III
pennsS ivania had been Impending: 81 ina n""elrr.
Inc Committee VA, uaawae hHinam Di7 liza ha@i
"a ,rth cmuhasis that II the COMMITTEE 'h' ~
sau ~ ,I, nat,,r. of the testimony which senator