New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-24

ACRE-JoHN c. BULLITT DE-
FERRED HIS JUDGMENT TO
THAT OF HENRY
WILLARD
When Alfred L. Cary Master IN Chancery. re-
sumed his investigation into the Willard methods
OF management in the Northern Pacific Railroad
Logan NJ. Bullitt. Of Philadelphia, was put on
the stand. The witness had not gone far before
Colonel James Mcknight objected to the testi-
mony as being too dscursive. Silas W. Petit
counsel of the present managers. said that he
expected to show by the witness that the North
crn Pacific had paid s1.5000O0 for certain proper
ties that 1t could have procured for 100000
Mr. Butt was allowed to proceed. He said
that in 1856 and 1887 he was vicc-president and
manager OF the Northern Pacific Coal Company
which was controlled by the Northern Pacific
Railroad He inspected the Rocky Fork coal
lands and recommended To the company their
purchase and the construction Of n railway
through them. After a meeting Of the Board OF
Directors he was Informed that the board had de-
clded not TO adopt his recommendations. The
coal lands were then mainly the property Of the
Government, and could have been purchased for
about so acre.
"As a matter Of fact" inquired Mr.. Petit, aid
you not propose the directors that these lands
should be acquired in the same way that YOU
had acquired for the Northern Pacific Railroad
the ROslyn coal lands-namey. by procuring peo-
pie to pre-empt them and then turn them over to
the company Mr. Built, said that he had
done 50. The witness also testified that he had
estimated the cost Of the railway through the
coal lands a $4,000 mile. and he estimated the
cost OF mining the coal AT less than the cost at
Roslyn. where II 50 n ton.
director Of the Northern Pacific Railroad from
about 1881 10 october. 1889. the next witness.
Mr.. Bullltt said that he had had doubts about
the wisdom Of the proposed policy Of changing
the eastern terminus Of the road from 81. Paul
TO Chicago by the lease Of the WISCONSIN Cen
trail Company. lie yielded T. the Views ~ other
directors Mr. Bultt for several years was legal
adviser OF the Board OF Directors. and he drew
UP many OF the contracts out ~ which. the plain
tffs claim. Mr. Willard and his associates made
much money at the expense Of the Northern
Pacific The witness was asked II II WAS not
fact that he had retired from The Board u Di-
rectors because he unwilling 10 have the
Northern Pacific incur the heavy obHHdtons
that went with the Wisconsin Central lease. Mr..
Bullitt said that he preferred not To- answer the
question. lie was asked what disclosures were
made at the meeting OF the Board Of Directors
relative 10 the people who owned the Chicago
terminals. He answered that what Information
he gained was while he was acting IN the cl-
pacty OF counsel. and ne did not think Il proper
TO answer the question. Counsel FOR M rcoelv-
ers waived all objections. and the witness finally
said that ne had never heard anything den
mite. on cross-examinaton the witness said he
never knew Of any railroad question moro care
fully considered than WAS the Chicago terminal
| lease and re expressed the highest opinion of
the honesty ard capaby Of Thomas f. Oakcs,
one of the present receivers. In conclusion Mr.
Built testified that IN his opinion. all the
troubles Of the Northern Pacific were due Ill
rcctly to the fact that IL allowed other people
% build its branch lines Instead u building them
Itself r. the road had taken ont It's own char
ters and had made the construction Itself. It's
treasury would to-day be richer by many mill
IONS
Joseph s Decker Of the firm u Decker. Howell
e. CO.. bankers and brokers' was the FIRST vii
ness Of the afternoon. contract between ms
firm and the Northern Pacific md Manitoba was
shown him whereby Decker Howell CO.
agreed 10 complete the line FOR the Northern
Pacific Railroad. He remembered the contract.
he said, but ne ga not rccollcrt anything mat
was done under A. lie was asked about the
securities I'm the shape % first mortgage bonds
Of the Northern Pacific ani Manitoba Railway
amounting to S3.2C0O0) which were turned over I'D
/ his company. but ne remembered nothing about
them
"iIave you anything by which you can refresh
your memory? Haven't you any books that con-
tain a record Of the Transaction Nothing NJ
/ all Tho books were destroyed when our nrn
! went into the hands Of an assignee. We wiped
out everything on the old slate and began life
and a little deal amounting TO five millions
| didn't impress itself upon your memory! IL
/ did not" ,
a railrOadY' No .,,
And you don't remember anything about this
"Did Won carry out the contract? Did you send
any one out to build the road or did the r9ad
/ complete itsef?" Il remember nothing about IT.
| you were TO be paid 81 100000 for your Work.
! DO you remember whether you ever got the
! money!" Il do not" -
ibid you make this contract Tor Decker.
! IL al
! the opinion that IT was made FOR syndiGate. .
''Who was in tho syndicate" MT. wizard II
/ the only one remember.
on cross-examnation Mr.. Decker saih that MS
! firm at the time the contract was made was 40
! ing a business amounting TO niliona OF doiIars
day and II was impossible 20 remember ue,aiIs
Mr. Mcknight tried to refresh Mr.. Decker
! memory but he met with no success. lie dIdn
know whether Mr. Willard had personal inter
eat in the Northern Pacific and Manitoba; OF
! whether this same gentleman was the American
/ agent Of the Deutscher Bank of Berlin
Colonel James Mcknight went on the witness ness
stand in the afternoon. Referring 10 tne te'S =
| er-HowelI contract about which Joseph >
Decker knew so little. Colonel McNaught salu
that the instrument was presented 10 MN l -,
his signature while he was In 81 PauI' re uid
not know by whom It had been drawn. IL hha
been made out IN New-York while ne was absent
from the city. The contract was between neche,
Howell & Co. and the Northern iaclic anu
Manitoba Railway Company. lie did not know
of any one who represented the latter corpora
| ton save Mr. Willard: $500
"Then all you know about ths ~ iIulVae WI
what MIR Willard told yor?" Mr.. Mcknight said
that such the case. An,
At this point an adjournment was taken until
1 o'clock this afternoon
A subnocna was served yesterday on Charles
A Spofford confidential secretary or Henry
Willard who refused to testify some days ago. IL
IS expected that he will go on the witness stand
with his books to-day. a search Is peing inaos
for Colgate Hoyt who is supposed TO be out OF
the city inspecting a railroad In which he Is IN
| terested.
Nv AID OF THE CATHEDRAL MISSION