Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1894-09-12
WILLARD IS GUILTY.
He is Alone Held Responsible for
Irregular Northern Pacific
hnalS

Milwaukee, Wis, Sept. 1O.-Master in
Chancery Cary has filed his report in the
Cakes investigation in the Northern Pa
citic case, and his findings completely ex-
onerate Mr.. Cakes.
The report states at the outstart that
it was conceded that Mr.. Cakes had no
pecuniary interest in and derived no per-
Sonal advantage or gain from any of the
matters referred for investigation
The report is a bound volume of 153
pages and it is accompanied by five bound
volumes of testimony. The first question
discussed was whether or not any di-
rector of the Northern Pacific made any
unlawful gains by the purchase of the
Northern Pacific < Manitoba road and
in answer to it Mr. Cary says: Il there
fore find that Mr.. Willard, a director of
the Northern Pacific Railroad company.
made unlawful gains by the acquisition of
the railroad of the Northern Pacific &
Manitoba Railway company by the said
Northern Pacific Railroad to the extent
of 1868, 691. TO-
The next question was whether Mr..
Cakes knew or ought to have known
that Mr.. Willard was interested in the
Northern Pacific & Manitoba, or that he
was making unlawful gains by its ac-
QUESTION by the Northern Pacific, and
in answer to that he says: Il therefore
find that Mr.. Cakes did not and was not
bound to know that Mr.. Willard was in
tereSted in the Northern Pacific x Mani
toba railroad or that he was making any
unlawful gains by the acquisition of said
railroad by the Northern Pacific rail-
road"
Taking up the Rocky Fork. the first
question was whether or not any of the
directors of the Northern Pacific in the
Rocky Fork road or the Rocky Fork
Coal company, and it was answered in
whether or not any director made any
unlawful gains by the acquisition of the
road, and in answer to that Mr.. Cary
says: Il must and do find upon the
proofs made that none of the directors
of the Northern Pacific company acquired
any unlawful gains by the acquisition by
that company of the Rocky Fork < Cooke
City railway or by the arrangement made
with the Rock Fork Coal company"
That question being answered, it re-
manned to be determined what knowledge
Mr.. Cakes had a right to have had as to
the transactions in question, what his
duties as president and director of the
Northern Poetic company were in rela-
ton to them and how he discharged his
duties, and in the answer the master
says: Il cannot find as to these two sub
jects of Investigations that Mr.. Cakes
Was in any respect disloyal to his com
pany or its interests, or neglectfuI of his
duties as president or director"
Seventy-fOur pages are devoted to the
Chicago Terminal deal. Mr.. Cary finds
from the testimony taken that the total
cost of the properties was S10.296-
1892. In conclusion he says about the
deal:
Taking all things into consideration I
find that the rental agreed to be paid
by the Northern Pacific Railroad com
pany in it's lease of the Chicago terminal
of April 1, 1890 was not exorbitant
or improvident, and that Thomas F.
Cakes was not guilty of any nonfeasance
or misfeasance as an officer and director
of the Northern Pacific company in re.
snect tO Scjd Lease