The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-05-12

a subscription of over 81. 600, 900 by the
Deutcher bank, j. H. s. Stearn. Henry
Willard and associates. Was this sub
scription ever paid?"
Il don't know" replied Edes; 81 sup
pose it formed part of a lump cred
tied to the case?''
Have you nothing to show that it
Not here" said Edes; "the check
Very well,'' replied Mr.. Petit.
NOW here is subscription of G. L.
Colby for himself, Mr.. Rockfellow,
Mr.. Trevor Mr.. Abbott and Mr.. Col
gate for 100000. Have you anything
Nothing, replied the witness, ''un-
less the check book does So
But, my dear sir" said Petit, you
did not receive millions without max
ing a record where they came from.
Wen they came from the subscrib-
ers to the bonds said Edes, ''but there
is no record of separate payment by
them"
Why He Refused.
Mr.. spofford's refusal to testify was
based upon the presumption the pres
ent hearings were really instituted in
order to obtain evidence to use against
Mr. Willard and others, and that the
circuit court of Wisconsin had no
jurisdiction to institute and prosecute
the inquiry and that the clerk of the
district court of southern New York
had not power to subpoena him.
AT the request of Mr.. Petite the sub
pena under which Mr.. Spofford was
called was read, Master Carey then
saying he was powerless in the mat
ter. and that it must be referred to
the United States court
Mr.. Edes then took the stand and pro-
duced the check and deposit books of
the Oregon & Transcontinental, which
1t was hoped would show who paid the
money received for bonds of the Chica-
go & Northern Pacific
The books showed the deposit of
So, 1856 on June 2, 1890, to the credit
of the subscription for the Chicago &
Northern Pacific bonds.
This sum had been deposited in five
different sums in the same bank on the
same day
An itemized account showed these
were made up of a. score or more small
sums. Against eight Of these, aggre-
eating SS26,537, were marked the letters,
II. V"
This, Mr.. Edes said, meant that they
were received from Mr.. Willard. None
of the other were so marked.
Very Bad Memory.
Now" said Mr.. Petit, "you have
only received about half of this 18O00,-
600 that you should have received.
| where is the other half?"
Il don't know
We'll, who did not pay up?"
u don't know"
what is your recollection"
my recollection isl don't recollect."
Don't you remember anyone who
didn't pay up?'
"Out of the half that did pay, don't
you recol1ect anyone?'
Yes, Mr.. Smith"
What is the total of Mr.. Wizards
payment?''
SO far as I can see hese, it was
$826,597, paid on June 2.
Were any subsequent payments
made on account of these bonds?'
Yes" said Mr.. .Edes; 'S4, 1874, $50 was
ipaid on June 26.''
who paid it?"
well, it was paid on account of the
purchasers of the bonds. but 1 do not
know the individual payers"
| The money so received and deposited
! by the Oregon & -Transcontinental was
paid over to D. S. Wegg, on the same
day, Mr.. Wegg being one of the trus-
tees fot the stocllhold eEs of the various
properties then being consolidated into
the Chicago & Northern Pacific.
The Search Grew Warm
The search for the persons who did
! not pay for their bonds grew warm and
| the lawyers and witnesses got very
much tangled UP in intricate questions
! mostly on figures.
Finally Mr.. Mcknight, counsel for
| the receivers, suggested perhaps the
records of the transactions with the
| United States Trust company of the
| Chicago q Northern Pacific would
throw some light on the subject, and
asked for their production tomorrow
! morning. The meeting then adjourned
until tomorrow morning at 10 o'clock.
| Mr.. McNaught afterwards explained
| that it would probably appear that the
missing $7000000 for the bonds had
been obtained through the United
States Truss company, and of course
would not appear on the books of the
! Oregon & Transcontinental.
! Some discussion took place over a
pencil mark on the books referring to
this matter which Mr. Edes said had
been made by the bookkeeeper from
information given him by Edes The
object of the question asked was to
show that Mr.. Wizards syndicate re-
ceived 81, 100000 of bonds for a nominal
sum, while other purchasers paid the
market rate. All receipts from sub
scribers were Jumped, and no itemized
| list of payments were kept so far as
can be learned. 1t was very difficult to
show whether the Willard syndicate did
| or did not pay for their bonds