New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-16
TELLING THE OLD STORY.
REIrERATIoN OF TESTIMONY IN THE
NORTHERN PACIFIC INVESTIGATION
CHARLES T. BARNEY. JOHN \. STEWART AND
c. c. BEAMAN on THE sTAND-fINANclAL

CHARLES T. BARNEY. JOHN \. STEWART AND
c. c. BEAMAN on THE sTAND-F1NANcIAL
TRANSACTIONS DESCRIBED.
THE broccedfngs in the Northern Pacific investi-
cation were continued yesterday before Master III
Chancery Cary. OF Milwaukee. The morning sessio"
was occupied by further examination Oh Ch'rieS
r. Barney. a director some time ago OF inc No''"-
ern Pacific Railroad Company. The witness re-
iterated his statements Of the day before, '"a' -
his Judgment the best interests Of the Northern
pacoc had bcea sustained through the acquisition
If The Rocky Fork branch up in Montana ""ch
was practically a coal road, and that large s"'-
Inc had resulted to the railway company oy TedSo"
of the possession and development OF TINS proPe''S
A question arose as to the development ol ono
lands OF the company obtained through the'r
charter and the witness admitted that even the
giving away of lands to persons who woud pro-
duce something from them would be more aoFan-
tareous than retaining them for sale. MI barhey
WAS strongly Of the opinion that the chicago Ter
minal facilities secured were Of great impoF
70 the COMPANY with respect to their future values
The afternoon session was enlivened by the tesli-
mony OF John A. Stewart. president Of the United
States Trust Company Mr.. Stewart put forward
the nauers which he understood were deslrei d!
the investigator. He showed IN the first instance
that the Oregon and Transcontinentat company
had deposited with the United States Trust COM
pany on January g. 1890 $245i5S "a; on June = W.
500 1926 A. and on June T. $122 A.. and that there
had been an entry Of 21 % in interest at @,2 per
cent Mr. Stewart then said he held in his mana
the instructions given to the company for the as
position of the amount of money involved IN 'he
transaction. In general summing up 4" was
shown by Mr. Petit that the United states trust
Company had paid out nearly SOOOVV more 'hah
1t had received for the stock which the sums az
posted were expected to meet Mr. Stewart saia
that ne was not familiar with details but that ne
would supply a. this mornings session informa-
ton in regard 20 these points on which Hs"' was
Father amusing scene occurred . Tne@ Of M MT
6sbes 20 This transaction Sir Stewart said Il
nave never. 10 the best of my knowledge had me
pleasure Of meeting Mr. Oakes don't think n<r !
around the room for Mr.. cakes was sitting at one
corner of the table, not more than SIN lee' I0'''
When Mr.. Stewart finished his testimony which 3
MA anGSt IN the de an'oGs Beaman entered the
room, in response 10 subpoena, whSreupon MI
Mr' Beaman in turn approached Mr.. Stewart and
Introduced Mr. cakes. General laughter resulted
and the little incident was about the only interest,"
ing feature of the investigation thus far &c he 70.
The question asked OF Mr.. Cakes as ne re- e,
Mr. Stewart and he replied: Il think l know MN
now, but really never knew him before thu, Of
Mr.. Beamans testimony, when i0HoWed thd' %
Mr. Stewart. threw no additional light upon tn, me
affairs Of the Chicago Terminal deal boae 4
Beaman. He was formerly director in the North
ern Pacific Railroad Company: he was also Coul-
sci, with John c. Built, Of Philadelphia for me
Northern Pacific Railroad Company, He made a re-
port 10 the Northern Pacific Railroad company
as to the valua ton Of the terminal lacli!1ies a. .
eon Transeonnena in behalf of he NGgteerm Ina
hntween MIR Petit and Mr.. Beaman, but ii amount
ed to nothing more than simple statement OF NE me
fact by MIR Beaman that, as director OF tne
road and not as an attorney he had aSreed with
the directors that the possession OF the property
prospective value and that both in the capacity o.
director and attorney. after thorOnsn e%Po tbc
values of the tracts acquired. he had subscriped 70
the report which bears his signature, ana Whlcn
dec.ared that in his judgment the valuation placed
,,non the property founded upon basis, not
only Of actual, but of great prospective wor IN
Mr. Beaman will resume the stand this morning