The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1894-09-09
EKonerated From Every Charge
Against Him In the Receiver
ship Contest
Derived No Personal Advantage
or Gain In Any OF tho
Transactions
Nor Was He In Any Respect DisioyAi -
His Company -Tindihgs OF tho
Master.

MmwLuHTE. Sept 3. Master 10 ChAnoeFy
A. l.. Carer fled hla report on The matters
referred 10 him for Investigation 10 oonnso-
tion With the Northern Pacific rsoOiyership
contest this afternoon. Tho report ia
eomplsts victory for the rseoiVsiA the
mastsF sIonsrhting Thomas i. Cakes from
every charge preferred against him. bnt
Henry Willard 10 found guilty Of having
made unlawful gains as q director OF the
Northern Pacific Railroad company.
A synopsis OF the masters report show
ing the various findings. IL &c follows
~ The master finds that Thomas ".
oAkes had no peeunisry interest in. aud de-
rived no personal advantage or gain OF any
of the matters referred for investigation.
(2.) The master linda that Henry
Willard. director OF the Northern Pacific
Railroad company. made unlawful gains By
the acquisition Of the railway Of the Moth
srn Pacific q Manitoba Riilroad company
BY the Northern Pacific Rsilrosd company.
10 the eI,sn, OF S303 G9l.7 TO-
(3l II 10 found that oakes did not.
ana was not bound 10, know tha, Willard
was interested in the Northern Pacific a
Manitoba railway, or that be was making
any unlawful gains by the acquisition Of
ssid railway by the Northern Pacific Rail-
way company. As a sequence. the master
finds that Oskss was not bound 10 take
any measures to prevent Willard flom max.
ing such unlawful gains. or for the proteo-
tion Of the interest OF tho Eortbcrn Pacific
Railway company in respect thereto.
~ During the -four hsesl years
ending June 30. 1888 the Northern Pacific
company made savings. under its oontracs
with the Rocky Fork Coal company. TO the
amount OF $l.s93 bSl.96 an average OF
over $4,000 per rear for each Of the -four
years.
(5.) The master finds that william 7.
Bull, Chas. II. Barney, James II. HaRgin
and Charles h wrieht. directors Of the
Northern Pacific Railway company, were
interested In the Rocky Fork q Cooke City
Railway company. and directors Of the
Rocky Fork Coal COMPANY.
(6.) The master hnds that NO directors
OF the Northern Pacific acquired unlawful
gains by the acquisition BY that company
OF the Rocky Fork a Cooke CITY railway.
or by arrangement made with the Rocky
Fork Coal company.
l Cd The master ssys he cannot hnd. as
TO those subjects Of Investigation. that
Oskes was Ia sny respect disloJsl 20 bis
COMPANY
terminals cost the original parties that
we're interested in them $40 296 1882.
(9l lhe master 1nds that the Oregon d
Transcontinentsl company received SlS.-
000, 600 in bonds OF the Chicago a Northern
| Pacific company and that 10 10 possible TO
tracs the disposition OF all Of them except
three bonds. These bonds are unsoeounted
| for.
(l0.) The master states tha, the account
with The Oregon a Transcontinentsl oon-
psny shows that IL has received from these
bonds sla aG67. $685. that IL paid out for
these properties and for expenses. etc.,
$l5 6s1, (s5.t2. leaving q bslsnco OF flS6.-
19s. 96 unaecou united for on the debit side Of
their account
The master ends that there are $l09. 600
OF the bonds that were delivered 10 Willard
upon Wsgg's order but unaceountsd for
except that they were rsoeipted for by VII
lad through Colgate Hoyt The Oregon a
| Transcontiusntal company in all im tran
sections relating TO the acquisition Of tho
several Chicago terminal properties. actod
az Agent for the real parties in interest
whoever they mar have been. Messrs.
Colby aud Hoyt we're the only members OF
the Northern Pacific board during the years
1859 and 1880. in which the transactions
under review took place. that apparently
had any direct interest in the Chicago tei-
minals. They acquifsd such interest long
prior 10 ths time whss thev became mem
bers of the Northern Pacific board. aud at
a tins when they owed no duties 10 the
Northern Pacific company. The Northern
Pacific company did NOT furnish these
bonds. and Was in no degree liable fot
them.