The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-06-11
'CASSATT TELLS
OF HIS HOLDINGS
President of the Pennsylvania
Railroad Company Replies
to List of Questions.
OWN CONSIDERABLE STOCK
BUT NONE OF 1T WAS GIVEN TO
HIM.

Philadelphia, June 10.-The special in
vestigating committee appointed by the
board Of directors of the Pennsylvania
railroad company and acting for all the
lines Of the Pennsylvania system to
night made public the answers of Pres
ident Cassatt to the questions pro-
pounded by the committee in one of its
circulars sent to all officers and thou
sands of employees Of the various lines
Mr.. CasSatt in reply to the query as to
whether he has any interest in any
coal company or other enterprise 10
Gated on the cOmpany's lines since Jan.
1, 1900, says;
II do not at present own any stock in
any coal company whose mines are 10
Gated on or whose coal is shipped over
the lines Of the Pennsylvania railroad
system.
Until the S1st of December last. I
owned $50 Of the 1000 shares of the
MillwOOd Coal q Coke company (par
$500, a stock which I subscribed for
when the company was formed, about
1872, and paid for at the subscription
price, which, TO the best of my recOIIec-
ton, was par. There was no market for
this stock, as it only paid dividends at
irregular intervals. but last fall an Of
owners of the adjoining land and my
stock was sold with the rest.
Bought Years Ago.
Il own S33 of the 5000 shares Of the
common stock of the Union Switch &
Signal company (par $500, which I pur-
chased about 1884 at the then market
price, which, as nearly as I can recoI-
leCt, was S25 per share.
i own AZ of the . 500 Sbaras Of cfooI-
Of the United States Metallic Packing
company tpaT 5000, which I bought
about 1856 It the then market price,
which [ think was about $50 per share.
4 own 1926 Of the 165. 600 shares Of
the preferred stock Of the PENNSYLVANIA
Steel company (par S1OO). This stock I
purchased at various times. Ny first
purchase having been made in October. /
1891. some months after the ACQUISITION /
by the Pennsylvania company Of a ma
Jority Of the shares Of the capital stock +
of the Pennsylvania Steel company.
My last purchase was made on the 9th /
of May, this year The average price I
paid by me was 1919.
I own 1000 of the 10000 shares of /
stock of the Cambria Steel company 4
fDdr 500 which I purchased at a cost
Of So per share on the I'd day of Nav.
1906 These shares replaced ]. 500 shares /
Of other stock of the said companv- an |
Pennsylvania company had acquired A I
majority Of the shares of the Cambria /
steel company, but which I had subse-
quently Sold
Mr.. Cassatt said he had not directly
performed any service in connection /
with the receipt. transportation or de- /
livery Of any freight shipped by or /
consigned to any Of the companies /
above named
Performed No Service.
He said he had not performed any 1
duties in connection with the distrib1I- J
ton or allotment of cars or the furnish /
ing or siding equipment. motive power. /
dockage OF other accommodations for /
any Of the companies named.
PRESIDENT Cassatt says he has never /
received any commission, cOmpansa-
ton, gift OF gratuity of any kind from +
any SHIPPER on the Pennsylvania lines. /
OF any or the five companies ne men /
toned IN his first answer.
In reply TO the question as to whether
ne Is peculiarly interested in any cor
PORE ton, association or Individual doing
Wofk for or furnishing materials o.
SuPplles TO the Pennsylvania system. ne /
says that the five companies mentioned /
IN MS Ilrst answer make sales 10 the /
pennsylvania Railroad company. and.
with the exception of these cOmpauies.
he is not interested or concerned in
corporations or Individuals referred to
In the query
He says he has not performed. and is
rot now performing, Sny service in con-
nectlon with work done for. or the pur-
chase or receipt OF materials or SUI /
plies by the Pennsylvania. system. ex-
ceptlng Jnat ne has, in accordance with
established custom. purchased The steel
rams fer the entire system. These pur-
Chases are reported 10 the board Of d.
rectors for their approval
Cassatt's Conclusion.
After concluding his answers. Presi-
dent Cassatt makes the following state
ment to the special committee:
You VIII observe that the only coal
stock owed by me since becoming
president OF the Pennsylvania Railroad
company is 10 shares Of the Wildwood
Coal and Coke company, which stock
has been Sold but, in view Of the re-
puted -UmOrs OF NY being a holder of
stocks Of the keystone Coal al Coke
company. the BcTWind-White Coal Min
ing company and the Henrietta Coal
company, and Of my being interested /
in The firm Of Cassatt & Co, / think II
proper to state that I never owned or
mad interest in the stocks Of the Key
stone Coal and Coke company or Of the
The Henrietta Coal company nor have
] ever had any interest in the firm Cfl
Cassatt & Co. never owned any stock
CT the BerWind-Wh Coal Mining com
I sTy while an officer Of the PennsyIva-
i Railroad company either during my
fdfSler connection with the con- INV,
which terminated by my resigTat ~ OF
the vice-presidency in the fell OF 1852,
or since I became president in 1899: but
when. III 1885, Mr.. Charles J. Berwind
then head OF the partnership Of Per
wind, White & Co. formed the preseC;
Berwind-W White Coal Mining company, 1
TO take over the business OF that firm. I II
purchased 400 shares Of the stock Of
The company and paid sfor it at the
then market price. which was % per
cent OF its present value. I sold this
stock III 1891 You will observe that it
was purchased four years after I ceased