New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-16


..r,., uas the Capitalization OF the syndica,e az
the tim Of the execution of the orisihai "us"'
Trust" asked Senator AeNo"'
What was the volume Of cerii roadri,esn '"e
tfa Tbosc rres have not been able TO obtain
Who issued the stock s,o cor,,arv"
"Wbot position did you occupy In tha' company
81 was the secretary and n,ecote book OF
Then you had charge OF inc
the company
Generally so: yes ,or.r,ort had the trans
Gin other words. your department. ""u "
ferring Of all certihcaies'
Where is the book in which those transformers
II have no knowledge as to "na' "A' '''''''
OIL When ylhc did you last see it, or,ap,zed
"In 1891 when the new company Va" AM into the
All the books then in my possession went '''o '''
h lands u.s. of the receiver" ,,o hands Of the
You mean that they went into me MANN nf the New
receiver Just pIioP u '''
yes; a few months prior. ,o,,.vas that gave
81, was that recevershp, ot1icN'' ' 49,
birth to the New-Jersey company
.What became Of 'rhc books after you last saw
them ,u.,odc, whatever as to what be-
n,e ho Of the books OF the old company ai'er '"e
new company was organiZ"a. 81 tho stock In the
Did you issue the Ger Ger r''''''''' -
ew-Jersey company
81, Wv" ,oo,r conacity as secretary ana treasurer
SO that you held in the New-Jersey c0PI ths
precisely the sam sum baI IN" custody OF the same
hooks that you held in IN" origihai "us"'
~ Your recollection positive that you dd not , Tse
the certificate book Of the or oid camppany?
Between ~ and 1871 several nd have
cates Of old comP1ny Ware 1Sp to these since
seen no certificate DOCKS reidt',is. " "
the opening Of the new company
OTHER CoMMITTEEMEH TAKE HAND
Mr. seares was closely pressed by other meInDsrs
~ rho committee as TO his knowledge OF 'ne JUN.
NJ the old trust. but he repeated 'ha' he "au 49,
tho fainiest idea as TO their Whereabouts II" 'i''
own words They vanished "heH ''e I'm. 49,.
Suoar Refining Company OF New-Jersey came INTO
,,a,oo +" THE holders Of certificates IN the oilg-
nI rust he said. surrendered tner scrlp W me
r .nI Trust Company. The certificates III III, hs
Srnt'da &c., oreanization were handed over 10 TINS
COMPANY for distribution among me G aus for
liners WHO nag senator EnF hexow however, continued
:" NV question after question to Mr seaIns o LIZ
a M ssros tnaiiy admitted that it would have
been manifest dereiction on MS par s -. re-
inS 10 the certificate book of the old organlza
ton; and then whei' senator reX'M baS nat
Kent The certificate book in MS own POSSESSION no
that the witness said that though me d ,eIeeatnd
pairing the transfers was ho'n''"''' me- ="
YOU mean to tell me- ASKED sscg anv new cer
WIN some nl Ton had personally established the
fact that the GanSesd Of a the old trust
"Of course | established that fact answered MI
"Thcn you must have had recourse to the certih-
There We're many certificate books used during the
existence Of the old trust but they were iost s'sh'
oi:po YOU remember whether any Of the old certIh-
lion OF the Sugar Trust"
'"rhere were none. A.. H., ,,eo,,o
' Il had no old books before me As have told
ed with the transfers. | never saw TO the details
AWh1o could have taken the old certificate books
from your pOssession?'
al do not know -. $500 -,
books from the time OF the transfer OF the certif-
Gates until now?'
what makes you so particular in that recoec-
because have none Of the old books since
the old company was started afresh''
Were they Destroyer
'"They were cancelled / don't know whether they
were destroyed" go
Il have not. ! never had any occasion to look
Nov. please tell me- those the only books
thai can give the mathematics of the ratio Of the
distribution of the shares in the new trust
This Information which require is locked up
In thosS books?
n fact then The books showing tse details g, Of
coo are not In existence so far az you know?
Not to my knowledge
was there never any memorandum Of appraise-
IL believe not. regards the plant
Then YOU mean to say that there was something
like so 900 900 of certificates issued TO fifteen
panics with nothing to show the basis of that
issue except the mere certificates OF the old COM
pany and The book etubs?"
There a deed In addition 70 the certificate
book"
Mr.. Searles added that he had no idea where tina
deed WIS now. he hazsrded the opinion that n
was in the possession OF Mr.. Parsons. the attorney
for the trust. Thereupon Senator Lexow appealed
10 Mr. Parsons who in the room but Mr.
Parsons In turn asserted that to the best OF his
| knowledge IL not In his keeping. Despairirg
a nlih n nf fha
cate book. Mr.. Lexow turned his attention TO
other books OF the ola organization but these also
according TO Mr.. Searles. had been lost. The pre-
siding Senator endeavored 10 obtain some expla-
nation from the witness to why these hooks
had been allowed TO disappear Mr. Searles said
that after the starting OF the new trust they had
become useless. and that. consequently, there was
necessity for preserving them. Senator Iexow
went so far as 10 ask the question whether the
books had been lost accidentally on purpose