St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-05-15
NORTHERN PACIFIC CASE.
SEARcR-LiCHT TURNED UPON BIG
TRANSACTIONS.
EDEs AND BoRNEY TESTIFY.
Sums of Money Paid for Various
Properties Oregon Il Trans.
continental Company interests
-Ex-Director Borney's hath
in Willard and Oakes-CrI SIS |
Examination Fires q Witness.

-Ex-Director Borney's hath
in Willard and Oakes-Crtss SIS
Examination Fires q Witness.
NEW YORK, May 14-Edward Edes,
former assistant secretary and treasurer
of the Oregon Il TranscOntinental COM
pany, was again on the stand III the
Northern Pacific inquiry today. Re-
ferring to his statement made on Sat
urday that 100000 cash had been paid
Oh account of the Purchase of the
Chicago. Harlem u Batavia ra..-
way, lie said he had found a
check for S2OO,0oO of that
100000 which was made payable to
Charles l.. Colby or ID. s. Megg. but he
could not find the check for the other
$2U0,O0O. as it was in another book which
had been misiaid. He did not know
who actually got the money for that
check for S2OU.O0O. That MONEY was
paid out by the Oregon u Transconli-
mental company, acting as the financial
agent for the Wisconsin Central Kali
WI company.
He did not know whether the Ore
gun IL Transcontiuental company. as
financial agents ever acquired the sta
ton property III Chicago. Mr.. Petit
quoted from the witness letter, In
which he reported that the company
had arranged for the purchase OF
the station property, and asked
him Oh what he based that statement.
The witness said that he had obtained
the information from Mr.. Hoyt. presi-
dent Of the Oregon u Transcontinental
company. who undoubtedly SATISFIED
him at the time that such all arrange
ment had been made.
Mr.. Edes said that S2,7M, 55S.A was
paid for the Chicago & Great westerns
Railway company. or that sum
check for S2.5l5.45S on the Farmers
Loan aud Trust company was given TO
Colby, Abbott Il Hoyt. A check for
S375,UoO was also given to the same per-
sons, which latter check included $780,
600 OH account of the purchase CT the
Bridgeport IL South Chicago Rail-
way company. Besides that $780,
600, two notes for $4,000 each
were given oil accouns OF
the Bridgeport & South Chicago Rail-
way company All the notes mentioned
were paid in cash when due, checks
therefor being given to the Chicago u
Great Western company. The two
dotes for S575, 900 were paid by check to
d. S. Wegg for sl,l74,9l6. The Oregon
IL Transcontnental company did not
pay anything for the Chicago q Great
Western company other than the
81, 100, 45S already mentioned. He could
not find any other payments on the
books, and he did not believe anything
more was paid. i
Charles L. Barney, formerly North
ern Pacific director, testified that he
considered the lease of the Wisconsin
Central favorable one. He had OBJ
jec;ed to the payment of commission
of "a per cent and five shares of
stock on each $1,000 bond. Mr.
Cakes was strongly in favor
of the Northern Pacific. going TO
Chicago. and, his impression was that
Mr.. Willard was also. and the consensus
of opinions of all his railroad friends
was III favor of il. The proposed lease
appeared to be the best means of getting
there. He had no interest i'll the Rocky
Fork 81 Cooke City road prior to Jan. l,
1899. t,if,:{t;
Mr.. Petit wonted to know why. the
Northern Pacific had bought coal from
the Rocky Fork company when it had
All ample supply of its own on Its lands.
Mr.. Barney was not sure, but Thought
this was done because the Rocky Fork
prices were cheaper than they could
mine their own.
Col. McNaught here interjected the
statement that it had since transpired
that the Northern Pacific ruad had no
right to the land it sold to the Rock
Fork Coal company, and that il was
just that much ahead today for the
money received from the coal company.
Cross-eXamined by Col. Mcknight,
Mr.. Barney told of his connection with
the Northern Pacific. aud expressed his
entire satisfaction i'll the Willard man
agement, and with Receiver Oaks,
whose energy and fitness had done
much to serve the best interests of the
road. He had bought the stock OF the
Rocky Fork road without having amy
idea that the road was to be bought i'll
by the Northern Pacific.
II WANT to put myself right" said
Mr.. Barney. with some warmth. II do
not mean to have any imputatlOns cast
on me. The facts are just these: Some
time in 1890 Mr.. Willard came to my
office in Philadelphia and told me that
the stock OF the Rocky Fork company
was for safe at 40, and he thought it Il
good investment. L telegraphed to a
friend in Boston, asking him to join
ME Ill the purchase OF the stock, which
he did, taking 400 or 500 shares"
Col. Mcknight having concluded his
REORGANIZATION of Mr.. Barney, the
latter was again taken in hand by Mr..
Pettitt, who read letter written by the
Rocky Fork Coal company, agreeing to
supply the Northern Pacific with from
500 to $50 tons of coal daily. 1t was
shown that the coal company did not
live up to its agreement, owing to its
being unable to mine that much.
The hearing then adjourned until to-
morrow.