New-York tribune., 1906-06-11
MR.. CASSATT'S STOCK.
HAS NO COAL HOLDINGS.
p. r. r. President Replies to Ques-
tiOns of Investigators.

PHILADELPHIA June 1O-The special investt-
eating committee appointed by the board Of di-
rectors of the Pennsylvania Railroad Company
and acting for all the lines of the Pennsylvania
system made public tonight the replies of Prest-
dent Cassatt to the questions propounded by
the committee in of its circulars sent TO all
officers and thousands of employees of the varl-
Gus lines Mr. Cassatt takes up the questions
seriatim. and in reply to the first query as TO
whether ne has any interest in any coal COM
pany or other enterprise located on the COM
panys lines since January /, 1900. says:
Il do not at present any stock in any
coal company whose mines are located on OF
whose coal is shipped over the lines or the
Pennsylvania Railroad system
Until the 31st of December last" he con-
tinues 4 owned 100 of the 1000 shares OF tne
MilIwood Coal ana Coke Company (par SOD a
stock which l subscribed for when the COM
panv was formed about the year 1877. and paid
for at the subscription price, which. to the best
of nv recollection. was par. There was no mar
ket for this stock. as it only paid DIVIDENDS at
irregular intervals. but last fall an oHer was
made for all the stock by the owners of the ad-
Joining land, and my stock was sold with the
rest.
Il own 333 of the So 000 shares Of the common
stock of the Union Switch and Signal Company
then market price. which nearly as can
recoIect was $23 per share
Il own forty-fve Of the $500 shares of stock
of the United States Metallic Packing Company
(par 5000" he said. which l bought about 1886
ut the then market price I think it was about
$50 a share.
Il own 1926 Of the $4,000 shares of the pre-
ferred stock of the Pennsylvania Steel Company
(pa: 5000. This stock 1 purchased at various
times, my first purchase having been made IN
October. 1901, some months after the acquisition
by the Pennsylvania company of a majority OF
the shares of the icapital stock of the Pennsyl-
vania Steel Company. My last purchase was
made on the 9th of May of this year. The
average price paid by me was S97 -,
= own 1000 of the 100000 shares of stock of
the Cambria Steel Company (par $500, which
purchased at a cost of $S+ a share on the second
day of May, 1906 Those shares replaced l6o0
shares of other stock of the said company. ali Of
which were bought by me after the Pennsylvania
company had acquired majority of Inc shares
of the Cambria Steel Company, but which had
subsequently sold"
Mr. Cassatt said he had not directly performed
any service i'm connection with the receipt trans
portation delivery of any freight shipped by
or consigned To any of the companies above
named
In reply to another question, he said he had
not performed any duties in connection with the
distribution or allotment of cars or the furnish
ing of sidings equipment. motive power dockage
or other accommodations for any of the COM
panies named. unless the purchase of locomotives
and cars for the general business of the Penn
sylvania Railroad Company and the furnishing
OF sidmgs. under the authorization of the board
Of directors. may be held 10 come within the
scope Of the question asked.
President Cassatt says he has never received
any commission compensation, gift or gratuity
of any kind from any shipper on the Pennsyl-
vania's line cr any of the five companies ne
mentions in his first reply
In reply to the question to whether ne is
pecuniarlly interested in any corporation
sociation or individual doing work fov or fur
nfshing materials or supplies to the Pennsyl-
vania system nc says that the i've conn anies
mentioned in his first answer make sales 70 the
PENNSYLVANIA Railroad Company and with the
exception of these companies he is not inter-
ested or concerned in corporations or individuals
referred to in the query
He says he has not performed and is not now
performing, any service in connection with work
done for or the purchase or receipt Of materials
or supplies by the Pennsylvania Railroad sys-
lem. excepting that he has in accordance with
established custom. purchased the steel rails for
the entire system. These purchases are reported
to the board of directors for their approval
After concluding his answers. President Cas-
satt makes a statement to the special committee
You will observe that the only coal stock
owned by me since becoming president OF the
Pennsylvania Railroad Company" he says. lis
leo shares Of the Millwood Coal and Coke Com
pany, which stock has been sold but in view Of
the repeated rumors of my being holder of
stocks OF the Keystone Coal and Coke Com
Continued second page.