New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-20
yOPTHERN PACIFIC DEALS REFIEUED'
EXAMINATION OF J. b. HAGGIN AND JAMES d
MISUNDERSTANDING TO ESTABLISH HENRI
v1IIARD.s INTEREST IL PROPERTIES
THAT WERE LEASED

THAT WERE LEASED.
The hearing in the Northern PACING haiI'oar ia
yestigation going on before hlreu -
Master in Chancery. was resumed TOT TWO nou
Yesterday. J. i. Haggn. former director Vi ','o
connany was examined. but he testified that ne
had not attended any OF the meetings OF 'he VI
- a, which the leases OF the Chicago terminals
"a ~ the Northern Pacific and Manitoba road
yyere discussed He knew nothing about theso
IDEALS" until after they had been accoihp'iS"e'
The witness said that he had one-slxth lh'eres.
IN the Rocky Fork properties. for which ne pau
10000 He acquired this interest before oeco's
a director in Northern Pacific He paid the money
a. Harry Willard lie went into the Rocky foH
or,ernriae for the sake OF getting cheap con- loi
uee in the Anaconda Smelling Works. which ne
owned on cross-examination the "l'hesS 'es
that while he was a director OF Northern fa'''0
Mr. Willard had charge OF all the hnanciai business
OF the company Mr.. Haggin SAID that ne "
olvavs known Mr.. Cakes. the former presaeh'' "
no energetic In work for the interests OF inc
company -, ,,.
lanes H. williams formerly vice-president vi ''e
Northern Pacific then took the stand AZ present
he is secretary TO the receivers oiias W,
counsel Of the company, sought 10 sno~ nnancai
Willard practically ran" the company INA k
operations without much control or scrutiny rom ON
directors who not especially -,
mr Williams said that he did not know who owned
the Chicago terminals prior 10 the', ~, . ~ was a
1oottsr - mlbljc Knowledge that Edwin H. Abbot
Charles L. Colby and Colgate Hoyt were inter- 1i
I'm some OF the properties Included III the 'ei'"
system. va. ,o.otiate d.
rectly with the Wisconsin central Ioi inc f
ment of those ternnals?" was asked ~.,,
1T explained TO me that tne ia IN The mat
the oregon and ACKNOWLEDGEMENTS" III 'N $500
ter simply "a banker. ..
N'.Who made the explanation to your ., ..
''Mr. Willard perhaps, though am h2t sst The
The witness said that he understood thas Ia la
terminals were nearly self sustaining Dut ne ill.,
not explain how he received this understaiIu'
He said that It generally known among t tho
directors that Mr.. Willard was interes,eu :" '''e
Rocky Fork Railway and the coal company, a..
Then why did the report that was mace 10 shv
directors concerning these properties say that 'e'
belonged TO J. l.. Plat. OF Des MONIES
~ don't know" replied the witness
Mr.. williams testified that Mr. Wizard inIor me-
the directors that the Rocky Fork Railway hau COS.
more than 81 600. and was then earning more tha
r ner cent on the amount for which II was proposeu
10 issue bonds for the acquisition OF me propery
IN spite OF the recent depression the properly
earned per cent on the bonds so Issued
The hearing will be resumed at 2 p. m. tomorrow
RESOLUTIONS ON ROBERT HARRIs's DEATH
The Northern Pacific Railroad directors. at reg
MAR meeting held yesterday. adopted the foilowing
Resolved That this board realizes that In the
Abe Northern Pacific Railroad Company, IL nes i0ss
~. ali, AZ coponotoR Win t3o