The morning call., 1894-05-12

did not receive millions without making
record of where they came from ?"
wei. they came from subscribers to
the bonds" said Edss, "but there is no
record of separate payment by them"
Some discussion took place over pencil
mark on the books referring TO this matter.
which Mr. Edes said had been made by
the bookkeeper from information given
him by Edes. The object of the question
asked was to show that Mr.. Wizards syn
dicate received S11, 600, 600 of bonds for
nominal sum, while other purchasers paid
the market rate All receipts from sub
scribers were Jumped and no itemized list
CT 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 its bonds.
Mr.. Spofford was next called. but re-
fused to testify, bssing his refusal upon
the presumption that the present hearings
were really instituted in order 10 obtain
evidence to use against Mr. Willard and
others, and that the Circuit Court of Wis
consin 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.. Petit the subpoena
under which Mr.. Spofford was called was
read. Master Carey then saying that he
was pOwerless in the matter and that it
must be referred to the United States
Court. Mr. Edes then took the stand and
again produced the check and deposit
books of the Oregon Transcontnental,
which it was hoped would show who paid
the money received for the bonds OF the
Chicago and Northern Pacific.
The books showed the deposit Of $780,
$50 on June 2, 1890, to the credit of the
subscription for the Chicago and North
ern Pacific bonds This sum had been de-
posted in FIVE different sums in the same
bank on the same day. An itemized ac-
count showed that these we're made up of
a score or more of small sums. Against
eight of these, aggregating $3.50. .537, were
marked the letters n. v" This. Mr..
Edes said, meant that they were received
from Mr.. Willard. None of the other Items
were marked.
Now" said Mr. Petit, "you have only
recorded about half of the SIS. 600. 900 that
you should have received. Where is the
other half?"
81 don't know"
"Well, who did not pay up?"
"I don't know"
"What is your recollection ?"
"My recollection isl don't recolleet."
Don't you remember any one who did
not pay up?"
mo"
"Out of the half that did pay don't you
recollect any one?"
Eyes, Mr.. Smith,"
"What is the total of Mr.. Wizards pay
mentP"
$50 far as I can see here it was SS26, ,537
paid on June g"
Were any subsequent payments made
On account of these bOnds?"
Yes" said Mr.. Edes, ''S4. SS4. $50 was
paid on June 26.''
who paid ?"
well, it was paid on account of the pur-
chssers of the bonds. but L do not know
the individual PAYERS"
The money so received and deposited by
the Oregon and Trans-continental was
paid over to d. S. Wegg on the same day.
Mr.. Wegg being one of the trustees for
the stockh olders of the various properties
then being consolidated into the Chicago
aud Northern Pacific.
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 questions. mostly on figures.
Finally Mcknight, counsel for the re-
ceivers. suggested that perhaps the rec
ords of the transactions of the Uuited
States Trust Company with the Chicago
and 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.. Mcknight afterward explained that
it would probably appear that the missing
$4,000 for the bonds had been obtained
through the United Trust Company and
of course would not appear on the books
of the Oregon and Transcontinental.