Omaha daily bee., 1896-03-07


of the Central Pacific"
at is not much about the building Of
the road" replied Nj. Morgan. that we
want to know as about what was made out
of it."
I'VE did not" responded Mr. Huntington
make any more than were allowed to
make under the statutes"
Continuing as to the division OF the pro-
ceeds. he said that he could divide a thing
In which two were Interested exactly in the
middle.
Senator Morgan-Can you do that when
you are on one side and the people on the
other?
Mr.. Huntington-I can.
Senator Morgan-I am going to give you
a chance before we get through.
DESTROYED NO PAPERS.
! Referring to the construction Of the South
erh Pacific road to Yuma. Ariz., MIR. Hunt
ington said that Mr. Coltol. was interested
In that transaction, that he was dead and
that he had nothing to do with the disposal
OF his estate.
"Did you not" asked Mr. Morgan "buy
Mrs. Colton's house in San Francisco"
And did you not find Mr.. Coltons papers
in the house?"
II found the wall paper there"
But did you not find his private papers
there and burn them?"
IF you charge me with that l will an
swer'
at is charged by men who have written
to me that are as good as ! am"
Then they are good men"
AS good as you are
Mr.. Huntington then asserted, with much
emphasis, that he had never found any Of
Mr.. Coton's papers in the house nor de-
etroyed any OF them.
Mr.. Huntington was examined as to his
partnership with Mark Hopkins in the hard
ware business in San Francisco. but he de-
clared that the hardware business was in
nowise connected as partnership with the
railway business. The firm, he said loaned
money to the railroads and had also bought
railroad securities, which, when received
were divided between them as individuals.
He said Senator Morgan asking too
much when he asked him to give the details
Of business transactions OF thirty-fye years
ago. There had been no general settlement
OF his and Mr. HoDkIn3' account upon the
Iatter's death, but Mrs. Hopkins had gone
on as representative Of her husbands in
tereGts In the railroads.
Mr.. Huntington said In reply TO questions
that he had considerable means outside OF
that invested in the hardware business which
be put into the construction of the Central
Pacific. He could not. however, remember
Row much actual money he had put into
that construction. Still he wag confident the
amount was considerable. He had bought.
he thought. about 1000 shares Of the stock
at the rate Of 800 per share before the road
reached Newcastle. He had also put money
into the Contract and Finance company, by
which the road was continued. More than
100000 had been put into that company
by himself and his associates, but much of
the money had been borrowed, some OF 1t on
the government bonds. He repeated with
much show Of Indignation request tending
to show that II was the government and not
the company which had conducted this con-
structiOn. saying that the company and the
resources legltimately placed at its com
mand had constructed IL. He added that the
company had built th.rty-one miles CT the
road without any government assistance.
MORE FACTS NEEDED.
Mr. Morgan complained In this connection
that Mr.. Huntington was too much inclined
to give opinions and not facts, but Mr.. Hunt
ington cOntended that he was giving all
the facts he had. He said that TAO miles OF
the road had been built in seven years, that
S25, 900 900 in bonds had been received from
the government that first mortgage bonds
were issued for s25, 900 900 more and that
there 100000 900 worth OF stock. He
said he would not do the work again for
twice the amount he received.
Taking up the report Of the Pattlson com
mission. Mr.. Huntington said that part OF the
read west OF Ogden from Bonneville Table
to Promontory mountain had cost, according
to General Dodge, $4,000 per mile. whereas
the commission had put the price at 900.
He gave this as an illustration Of the in
accuraces OF the commissions report This
part OF the road had been built by the Union
Pacifs. and afterward purchased by the
Central Pacific for the purpose OF getting
into the Salt Lake valley.
Mr.. Huntington said the road paid well
for the first ten years and until the Atchison
and Northern Pacific had come In as compet-
itors.
Mr.. Morgan asked why the div tends had
not been put into sinking funG and used
In paying the government and hrst mort
gage debt, 10 which Mr.. Huntington replied
that II might have been done, Except for the
novelty OF H." Such things are never done,
he added as the stock was entitled to It's
dividends. Furthermore, the government had
interfered with the purpose 10 do this through
the Thurman act.
Mr.. Huntington said he could not remem-
her how much money he had received ON ac-
count OF the dividends. hut he did not mink
the amount Was large. He thought the dyi-
dends had never exceeded 10 per cent. II
appeared upon examination that Mr Hunting,
ton obtained his dividends principally through
his interest In the Finance aud Contract
company, He admitted that tlls company
had used a part ~ its assets m building
other roads, but these we're built In the best
Interest u tho Central raoho company
PRICE REALIZED foR STOCK,
Tho Contract aud Finance company had
begun 20 soil ts stock when u hsgan ~
pay tho duha which amounted 90 from
ta 900 GOO a. ti2 600 0n0. n had dlsJlasod
of a great doal " the stock fuF this pur
pose The price ~ tha stock sold had
ranged from 40 ~ rs oeHtn
Senator oFgsn referred a. the fluctuations
In the stock % iho Tssilt ~ manipulation
bat Af llauiinElog ious esCepii 'ns 90 the
urh af tba WoTl iln tai thpfe had hesn
hl manipulation Ahd "thH e. he added.
"poi q pT0pef NoTl o. uss'
NJ llunlIngiun SAID hu ha1 aIll sia0k
payiHs dividend ~ Va cent? on sac DOL
laf. pal declared lH FNpI "a a quetiluH that
ID NaH uut done a. break lha mafket ~
ALA DECLARED that ihlh sas hoi Iomartatia
and that hu made che salO tfrtasu kp
auiaA mpHF5
"ni 80 coli Fuaf tfitsf a. fpl 80 l.s
inaH a. ~ flilt sFii
ffsl b uNssilpHt fupltl NJ liuhi
inRteR that ihs aHaAi1F rANHh Hai sit
mr hgt I dll nai cell him Nst' ~
iiHnlinEinh hsd that ~ fsr AZ ~ knse
L.... IL. -. - i. NIL 49,. ~. |