The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-24
DATES AID FIGURES
THOROUGHLY THRESHED OVER BY
THE DEFENSE IN THE TIMES
LIBEL SUIT.
DIRECTORS ON THE STAND.
MESSRS. LINTON, PILLSBURY, BIAS
SET AND HILL THE WIT
NESSES.
DIRECTORS ON THE STAND.
SHORT COURT SESSION TODAY.
Adjournment VIII Then BE Taken
Until After ChriStmss-Minne-
apOiis Matters.

Haskell of the Times, will be adjourn
ed until after the Christmas festivities.
The proceedings in the trial yesterday
were largely confined to dry ngures
and nothing sensational was brought
out. When court opened yesterday
Samuel Hill was again on the stand
t long enough for Mr.. Jackson, for the
I defense, to ask a few additional ques-
| lions regarding dates in connection
with the Pullman deal.
a. H. Linton, one of the directors
! of the Minneapolis Trust company
and a member of the executive COM
! mittee, was sworn, and said he was
one of the witnesses before the grand
( jury. He was asked in reference to his
/ knowledge of the facts when he went
/ before the jury, and 1t developed that
he had heard the Pullman deal dis
/ cussed at company meetings, and his
/ knowledge and information came from
those who had looked the matter up
He had received such information as
would have led him to act If he mad
been personal owner Of the bonds.
The mortgage was about to be fore
| closed" he said, and l thought it was
J better to get something than nothing"
''As d prudent business man, and you
are such, would you think the sale was
a wise one?"
Yes, sir, would" was the reply.
! The witness stated that he based
his belief on the report of Messrs. Bas-
sett Lindley and Hamblin, after inves-
tigating the matter. The witness was
not at the meeting of the committee at
which the vote was taken
Then you didn't know whether that
paper article was true or not?''
Yes, sir; l knew that we were not
dishonest; that we were not thieves,
was the spirited reply
Cross examined by Judge Belden, the
witness recalled that he was present
at committee meeting when the bond
sale was discussed. The minute book
was handed to him TO refresh his mem
Org, when Mr.. Jackson snatched it
from the witness and objected to it's
use, an objection which the court sus-
tanned, Judge BeIden arguing that, If
| that was shut out, it would OF neces-
sity shut out much of the truth in the
case.
Judge Belden got at it in another
way, however, and received an affirm
ative answer. The committee had held
quite lengthy meeting, at the time,
and there were frequent calls for
meetings to consider the question, aside
from many informal meetings. The
witness led a busy life, and matters
that occurred so long ago passed out
of his mind, in the details.
At this point Mr.. Jackson was found
taking copious notes from the very
book that he had objected to the wit
ness using, and the state called the
attention of the court to the fact and
designated it as unfair on the part of
the defense.
c. A. Pillsbury, another director of
the Minneapolis Trust company, but
NOT ,I,,,r. =, to-
fed that he was a witness before the
grand jury in the case and knew
something about the facts of the deal
When the matter first came up he did
not remember clearly just what the
discussion was. There was an in
formal meeting at which he was pres
ent, and it was thought the best thing
to make tie sale. Some questions
from the standpoint Of the defense
were asked the witness, and he assert
ed that he did not know that such
things were the case. The witness had
been told by the investigating COM
mittee that 1t would have been throw
ing good money after bad TO try to
take up the other mortgages to make
the bonds good, and that the sale was
the best thing that could be done. He
had unbounded confidence in the ex-
ecutive committee and so did not pay
the personal attention to it he would
had he been on the committee. AS to
responsibility, he felt that he was to
be held by il and had used it in the
selection of the executive committee.
His responsibility was to see that the
company was properly differed.
Il get all my knowledge of values
of stocks, ETC. said the witness, from
what information I can get from
others
Mr.. Jackson asked if he knew now
what the bonds were worth when they
were sold. Judge BeIden objected
Il offer to prove" said Mr.. Jackson,
that the witness now knows that the
bonds were then worth par"
Now this is part of the play of
the defense" said Judge Belden.
Now we don't object"
II have no inforr alton which leads
me to believe that the bonds were
worth more than 10 cents on the dol
lar" said the witness. "Au that 1
have heard TO the contrary came from
Capt Hart and the Times, and 1 have
made considerable inquiry"
Daniel Bassett, one of the members
of the committee which had the Pull
man matter in charge, was next sworn.
He was asked several questions rela-
tive to the business methods of the
trust company and the makeup Of
committees, when the noon recess was
taken.
IN THE AFTERNOON.
F. A. Chamberlain president of the secur-
ity bank, was sworn to testify as to the deal
ings Of the bank in the bond matter. He
gave the facts in connection with the hold
| ing of the bonds by the bank to the amount
Of SIS, eco. The witness stated that If paid
before maturity the bonds of the Mime
apoIis Trust company, as trustee would be
paid before those held by the Security bank.
! The bank had exchanged its old bonds for
those OF the new issue and had purchased
S.4oo OF the new bonds at par. Before ac-
mortgage he hap
investigated the securities, the knowledge
being gained from the assistant secretary OF
the trust company and from the officers Of
the Pullman association. The proposition
came from the reorganization committee and
also from Mr.. Hamblin, the assistant secre-
tary Of the trust company, who gave the de-
tails OF the reorganization plan. The inter-
est on the new bonds had all been paid ex-
cept the coupons due October, 1896, which had
not been.
The witness produced a letter written to
the bank by Mr.. Hamblin from Chicago,
which said that the Pullman matter was in
good condition and urging that the s., 400 for
the new bonds to be given the bank The
witness did not know that any Of the prop
parties a bonus. Mr.. Hamblin had shown
them the trust deed and they had looked IL
over for themselves
Cross-examined the witness made his evil
dence clear. The bank had held the second
mortgage bonds about two years, at the time
Of the rebolding and the bank had msde all
necessary inquiries regarding the rebonding
scheme. The bank had first learned of the
plan some months before it's contamination
and the witness had looked the matter up at
Pullman. The bank had been informed that
there first mortgage OF $50 0G1 on the
property, with a large sum OF accrued inter-
est but whether 81 900 or not could not say
There was also other special indebtedness, of
$150,000, which might have been special as
sessment.
WAS there not floating Indebtedness of
about 500, O00?" asked Judge Belden. Were