The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-06-17
He Boldly Tells the Investigation Com
mittee that He Has Been Dealing
in Sugar Stocks for Months.
HIS VOTE NOT INFLUENCED
Because He Sold ALI the Shares
He Had at a Loss.
Senator Ransom Admits that His Son
Has Been Dealing in Sugar Trust
Stocks-Correspondents Indicted.

WASHINGTON, June 16. - The Senate
Sugar Trust investigating committee elected
some sensational testimony to-day. Senator
Matthew w. Ransom. OF North Carolina
told the committee that his son mad specu-
lated in Sugar stock. and Senator Matthew
S. Quay, of Pennsylvania, boldly told the
investigators that he had bought Sugar
shares for speculation and that he would DO
SO again
Senator Ransom was the first ex-
amined- He was asked. as were
other Senator's who had been
before the committee, the following ques-
tion by Senator Lodge: Has any member
of your family or any person in your EN-
ploy, or any clerk employed under the
laws of the United States in your service
been to your knowledge. interested in any
OF the ways indicated In any OF the pre-
ceding questions in any transaction in
Sugar stocks or certificates during the
period mentioned?'
Replying TO the question. Mr.. Ransom
asked leave TO make a statement On the
night Of last Thursday he had been visited
at his home by Mr.. Howland. correspond
ent OF the New York Press. who asked
him substantially the same question as had
been put to him by the committee Mr..
Ransom made explicit denial. whereupon
Mr.. Rowland informed him that a
brokerage firm in this city. Silsbee & Co..
had an entry in their books which inci-
Gated that the Senator had speculated in
Sugar stock during the period OF the tariff
debate. Mr.. Howland," continued Mr..
Ransom, asked me If I knew any other
person by the name of Ransom In the city.
l told him l knew OF but one person I'm the
city by the name of Ransom, and that
my son George. who was my clerk
He asked where he was. and said he was
in the parIor, and / would step in and
bring him out ] was, perhaps. more eau
tious than the occasion required. and said
TO Mr. Rowland that would thank him
TO come with me to the door so that he
could see that no conmunicaton. should
take place between me and my son. went
TO the parlor door where George was and
beckoned him to come In / did not speak
TO him or see him between the parlor ana
my room, and when he got IN my room L
asked the gentlemen TO state their business
10 him and told my son whatever the mat
ter was TO tell the truth about it. he then
stated TO those in my presence that he had
bought some Sugar stock on the l7th or
18th of April. he put up a margin OF So
which he paid the broker in Sugar stock
He said that on the same day he had pue
up a margin OF $25 on cotton. He said he
lost the cotton and made SO on sugar: that
after that he repeated the same bet on
Sugar, but not on Cotton, and think he
lost the second. He then stated that he
and Captain Barnes. a messenger here az
the commerce committee room, after that.
on two occasions, bought SO worth OF
Sugar stock apiece. They went in togeth-
er and 1 asked the correspondent exam
inc my son fully as much as ne pleased ana
TO see Captain Barnes and examine him.
Senator Ransom proceeded to relate that,
about two weeks ago. Captain Barnes,
previously alluded 70. had come to him 70
tell him that a friend had Informed him
that he (the Senator) had been speculating
in Sugar. The Senator denied the story
latter returned with the assurance that
there was no basis for the assertion The
Senator had told correspondent Howland
about the incident, Withholding from him
the name OF Barnes's informant. which
had been communicated 10 him in coHn-
dence. Senator Ransom advised the COM
mittee 10 summon Mr.. Howland and see II
his story did not correspond with what has
just been stated 10 the committee.
Senator Gray asked: Had you any
with Mr. Howland. of the bets OF your
son with this broker in Sugar and Cotton2'
Senator Ransom replied: II never dreamed
OF such thing. i never thought OF A.. L
would not have believed II. The truth OF
it is / went 10 my son with a great deal OF
confidence when this correspondent called
bought the first stock, April Is. I was out
OF thescity. 1t was when we were at Gov
ernor Vance's funeral at AshevilIe" Mr..
Ransom further stated that he had had no
dealings in stocks of any kind since he en-
tered the Senate.
AT o'clock this afternoon Senator Quay
was called before the committee. In answer
to questions, he said he had been dealing
In stocks more or less all his life, and for
the past twenty months had bought and
sold Sugar stocks. The day before the vote
was taken he sold all he had az loss, 50
that IL could not be charged that IL infu-
enced his vote. BE said that he had not
been furnished with Information as 10 what
the finance committee would do with the
sugar schedule. and that formed no part ot
reason why United States Senator should
not avail himself OF plain business propo-
sition. If he intended To transact any such
business In the future as he had In the past
A number of other Senators were ex-
amined during the day. but none OF them
gave any testimony beyond the denial OF
the categorical questions concerning the pur-
chase and ownership of Sugar stock OF
knowledge of any purchase by anyone con-
nected with them. either officially or do
mesticaliy. The list includes Senators Cor
don. Jones OF Nevada. Kyle, McLaur1n.
Manderson. Mills. Mitchell OF Wisconsin.
Morrill,, Murphy, Palmer, Pasco, Perkins,
Platt. Proctor. Pugh. Roache, Sherman.
Vest, Morgan, Power, Villas, voorhees, and