The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-05-15
STILL DELvING.
Further Light Shed on Nothern Pa
cific Deals.

cific Deals.
New York, May 14-Edward Edes,
formerly assistant secretary and treas
company, was again on the stand in
the Northern Pacific inquiry today
Referring to his statement made on
Saturday that 100000 cash had been
paid on account of the purchase of the
Chicago, Harlem & Batavia railway, he
said he had found a check for 5000, 900
of that 100000 which was made pay
able to Charles L. Colby or D. S. Wegg,
but he could not find the check for the
other 100000, as it was in another book
which had been mislaid. He did not
know who actually got the money for
that check for $200,000; that the money
was paid out by the Oregon & Trans
continental, acting as the financial
agent for the Wisconsin Railroad COM
pany. He did not know whether the
Oregon & Transcontinental company,
as financial agent, ever acquired the
station property in Chicago.
Mr.. Petit quoted from the witness
letter in which he represented that the
company had arranged for the purchase
of the station property, and asked him
on what he based that statement. The
witness said he obtained the informa-
ton from Mr. Hoyt, president of the
OREGON & Transcontinental company,
who undoubtedly satisfied himself at
the time that such arrangements had
been made.
Mr.. Edes said that 2,79O, 47834 was
paid for the Chicago & Great Western
Railroad company, of that sum, a
check of S2,515,45S on the Farmers
Loan & Trust Co., was given to Colby,
Abbott & Hoyt A check for 1915, 900
which latter checks included 100000 on
account of the purchase of the Bridge
port & South Chicago Railway com
pany. Besides that, 100000, two notes
for $685. 900 each were given an account
of the Bridge & South Chicago rail
way.
All the notes mentioned were paid
in cash when due, checks therefor be-
ing given to the Chicago & Great
s575, 900 were paid, with interest, by
check. to D. S. Wegg for S1,174,916
The Oregon & Transcontinental COM
pany did not pay anything for the
Chicago & Great Western company
other than the $2,94O, 494 already men
toned He could not find any other
payment on the books and he did not
believe anything more was paid.
Charles T. Barnet formerly a North
ern Pacific director, teStlned that he
considered the lease of the Wisconsin
Central a favorable one He had OBJ
iected to the payment of commission
of 21s per cent and five shares of
stock on each $1,000 bond. Mr. Cakes
was strongly in favor of the Northern
Pacific going to Chicago, and lgis i'm
preston was that MIR. Willard was
also, and the concensus 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 &
Cook City road prior to January 1,
1890.
Mr.. Petit wanted to know why the
Northern Pacific had bought coal
from the Rocky Fork company when
! it had an ample supply on its own
lands.
Mr.. Barnet was not sure, but thought
| this was done because the Rocky Fork
prices were cheaper than they could
mine it on their own lands.
Colonel Mcknight here interjected
the statement that it had since trans
pired that the Northern Pacific road
| had no right to the land it sold to the
Rocky Fork Coal company, and that
| it was just that much ahead today in
| the money received from the coal COM
pany.
Cross-examined by Mcknight, Mr..
Barnet told of his connection with the
Northern Pacific, and expressed his en-
| tire satisfaction in the Willard manage
| ment and Receiver Cakes, whose en-
ergy and fitness had done much to
| serve the best interests of the road. He