The morning call., 1894-05-15
CAME PRETTY HIGH
Getting a Railroad Into
Chicago.
MR.. WILLARD FAVORED 1T,
And in Return the Scheme
Favored Him.
IR. WILLARD FAVORED 1T,
THINGS TOLD BY THE BOOKS.
The Deal by Which the Northern
Pacific Acquired Its Eastern
Terminals.

NEW YORK, May 14-Edward Edes,
formerly assistant secretary and treasurer
of the Oregon and Transcontinental
Company, was again on the stand in the
Northern Pacific inquiry to-day. Refer
ring to his statement on Saturday that the
S400.0 900 cash had been paid on account of
the purchase of the Chicago, Harlem and
Batavia Railway, he said he had found
check for 100000 of that 100000. which
was made payable TO Charles l.. Colby or
D. S. Wegg, but he could not find the check
for the other $500. 900, as it was in another
book which had been mlslaid. He did not
know who actually got the money for that
check for $500. 600. The money was paid
out by the Oregon and Transc ontinental,
acting as the financial agent for the Wis
consin Railroad Company. He did not
know whether the Oregon and Transcon-
tinental Company, as financial agent, ever
acquired the station property in Chicago.
Mr.. Petttt quoted from the witness
letter in which he represented that the
company had arranged for the purchase of
the station property, and asked him OF
what he based that statement The wit
ness said he obtained the information from
Mr.. Hoyt, president of the Oregon and
Transcontinental Company, who undonbt-
edly satisfied himself at the tine that such
arrangements had been made. Mr.. Edes
said that 81, 100, 476 "a was paid for the
Chicago and Great Western Railway Com
pany. OF that sum check OF 81, 5l5. 45S
Oh the Farmers Loan and Trust Company
was given TO Selby, Abbott and Hoyt. A
check for S375, 000 was also given 20 the
same persons, which latter check in
cluded 100000 on account of the purchase
of the Bridgeport and South Chicago Rail-
way Company. Besides that S1000 900 two
notes for $4,000 were given on account
of the Bridgeport and South Chicago Rail-
way. All the notes mentioned were paid
in cash when due, checks therefor being
given to the Chicago and Great Western
Company. The two notes for $4,000
were paid, with interest. by check TO ID.
S. Wegg for S1,174. 9l6. The Oregon and
Transcontinental company did nos pay
anything for the Chicago and Great West
ern Company other than the S2,940, 494
already mentioned. He could not find any
other payment on the books, and be did
not believe anything more was paid.
Charles L. Barnet, formerly Northern
sidered the lease of the Wisconsin Central
a favorable one He had objected to the
payment Of a commission of 2Jb per cent
and five shares of stock on each $1,000
bond. Mr. Oakes was strongly in favor of
the Northern Pacific going to Chicago, and
his i'm preston was that Mr.. Willard was
also, and tile consensus of opinions of all
his railroad friends was in favor of it,
The proposed lease appeared to be the best
means of getting there. He had no interest
in the Rocky Fork and Cook City road
prior TO January l. 1890
Mr.. Pettitt wanted TO know why the
Northern Pacific had bought coal from the
Rocky Fork Company when IL had ample
supply on its own lands.
Mr.. Barnet was not sure, but thought
this was done because the RockysFork
prices were cheaper than they could mine
1t on thslr own lands.
Colonel McNaught here interjected the
statement that it had since tran Spired that
the Northern Pacific road had u o right to
the land it sold TO the Rocky Fork Com
pany, and it was just that much ahead to-
day in the money received from the coal
company.
net told of his connection with the North
ern Pacific and expressed his entire salts
faction in the Willard management and
Receiver Oakes, whose energy and fitness
had done so much to serve the best inter
ests of the road. He had bought the stock
of the Rocky Fork road without having an
idea that the road was to be bought in by
the Northern Pacific.
Il want to put myself right" said Mr..
Barnet with some warmth. 81 don't want
TO have any imputations cast on me. The
facts are just these: Some time in 1890,
MIR. Willard came to my Office in Phiadel-
phia and told me that the stock of the
Rocky Fork Company was for sale at forty
and that he thought 1t good investment.
l telegraphed to friend of mine in Bos-
ton, asking him to join me in the purchase
of the stock, which he did. taking 400
shares. l don't remember just how
many"
Colonel Mcknight. having concluded
his cross-examination of Mr. Barnet, 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 road with
some 500 or 700 tons of coal daily. 1t was
shown that the coal company did not
live I'D to its agreement. owing to its being
unable to mine that much coal day.
The hearing then adjourned until to-
morrow.