The Providence news. (Providence [R.I.]) 1891-1906, 1898-02-24
EVANS NOT In COURT.
Continued from Page 1.

credited to him at the rate OF Sl5 600 per
annnm. MIR. BaniRan had been credited
with SllhO for travelling expenses for each
OF the three years he was connected with
the defendant company as president
MIR. Cook also said that at the direction
Of Mr.. BanigaE he wrote tn Mr. HodRklss
in regard to the salary paid Mr.. Banigan
as pre- sident of the Wconsocket company.
Mr.. Hougkiss was one Of the committee
To fx Mr. Banigan's S larry as president
of the United States Rubber Company.
All expenses Of the company were con
sidered by Mr.. Banigan, including his
own travelling expenses. and he had
ordered his own bill allowed.
On cross -exaim naito MIR. Cook admitted
Alr. BaniRan had been allowed travelling
expenses for great many years.. Mr..
Cook stated that he had been treasurer OF
the Woonsocket Company since 1880 and
that Mr.. bGpigan had, during ell that
period, been allowed fixed sum for trav-
cling expenses. Mr. Banignn' S salary ut
the rate of sl5. coo a year began on April,
1893 and was In July, 1894 liked at the
same sum on motion Of Cob Colt. MI.
Cook supposed that Mr.. Colt was "a stock
holder of the company as he was one of
the board OF directors, and had heard. but
Old not know, that Mr.. Colt and MI.
johnson were members OF the board of d.
Tuctors of tie WonEslcket Company Gs
representatives of the Unned STATES Rub-
Ter Company.
Colonel Samuel u. Colt tesi fed no had
been connected with the manufacture OF
rD bber boots ard other articles sine.
1887, and was elected director Of the
United States Rubber Company in sep
tenn Der, 1892 and as elected a msinber of
tho executive committee and Its legal
adviser son after. Since 1896 ne had
been secretary. A committee Of which
the witness waS inomher liked Ar.
rnl. f.av.A To-.
first year at s25, QUO, "a general manager
$4,000, rs member of executive committee
$1,000 and he was also TO 10 president
of the Woonsocket Rubber COmpany at a
sulsry OF Sla, 900, making Mr. Banigan's
entire salary $4,000. Speaking Of MIR.
Banigan' remarks when chosen presi-
dent, Colonel Colt cnrrobor1ted the ,es-
timony of other witesses thau Mr.. Bani-
gan had said ths company's stock was
valuable and that he would not, part with
his own common stock for less than 100
or his preferred at less than l25.
The salary of Mr.. Bapigan for the
second year was ixed at the same sum as
the hrst year in the hope OF bstt,r things.
During the t9ird year the question Of n
reduction Of salaries was frequently dis
cusSed at directors meetings. Col. Colt
had never heard Mr. Banigan claim his
salary had been permanently fixed At SEQ,
COO year uutil the reduction TO $40, 800
WIS mhle. IJufluH the IfsJ UWO years
Mr.. Banigan haa given great attention TO
tho aifai,s of the Gefe ndant com mpany.
but durIrg the third year be had trans
ferTed lots of his stock and seemed to lose
interest In h company's affairs.
Mr.. Roclker asked Col. Colt If Mr. Bar
ig IN had admitted To him he had Lthsr
interests that he was giving reat deal
OF attention to, and tho reply was. "Yes.
In general way
Mr.. Banisan spoke at this time CT
the Banigan building, the purchase of
the Wheaton * Anthony estate and other
things into which he had transferred the
proceeds Of the sale Of his ru bber stock
Most Of tie buslness Of the third year
was done ty the vice president, Mr..
Evans, and, in the Or inIon CT witness,
salary of $40 300 wns, in addition TO the
SALARY ss manager 8nd as president of
the WConsocset company. reasonable
tomI Iensation for Mr. Banigans ser
vices
Colonel Colt said he had heard Mr.
sly several times that after he
| ft the United states Rubter Company
be would not go into the rubber busi-
ness again. Mr. Banigan had, However,
Mr.. Colt G. stified, become connected with
tho Joseph Banigan Company. and had
taken n anv OF tho foremen and help of
the United states Rubber Company into
bis emf 10y.