Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-06-11
CASSATT ANSWERS QUERIES
President Of Psnnsylvsuis Company Has
Himself Investigated.
OWNS NO STOCK IN COAL COMPANIES
Has Never owned Interest In Key
stone or Berwin-white COrpor-
atiOns while Employed
by Company.

stone or Berwin-White CorpOr-
atiOns while Employed
by Company.
| PHILADELPHIA. June l0-The special
investigating committee appointed by the
board OF directors OF the Pennsylvania
Railroad company and acting for all the
| lines of the Pennsylvania system tonigN
! made public the answers of President
J Cassatt to the questions propounded by
| the committee in one OF it's circulars sent
| TO officers and thousands of the employees
/ OF the various lines. Mr.. Cassatt takes
| UP the questions seriatim, and IN reply TO
| tho first query as to whether he has any
interest in any coal company or other
| enterprise located on the company's lines
since January 1. 1900. says:
! do not at present own any stock in
| any coal company whose mines are located
/ on or whose coal is shipped over the lines
/ OF the Pennsylvania railroad system.
| 1eO of the 1000 shares OF the Miilwood
] Coal and Coke company (par 500, a stock
: which I subscribed for when the company
! was formed about the year 1872, and paid
/ for It at the subscription price, which, to
| the hest of my recollection, was par.
| only paid dividends at irregular intervals,
/ but last fall an offer was made for all the
stock by the owners of the adjoining land
! and my stock was sold with the rest.
! own s3S of the 1000 shares of the COM
mon stock of the Union Switch and Sig
nal ss eomggany 1sgs Ipar 500; which purchased
nearly as can recollect was SIS per
! share.
the Tinted states S' Metallic PACKING
| company (par 500, which ] bought about
1886 at the then market price at which 1
own 2.ass ' Of the he R is5,Ooo shares of the
preferred stock of the Pennsylvania Steel
company Cpar 1900. This stock purchased
ing been made % in ' 6ctobePr 6ed P' 6 1901 some some
months after the acquisition by the Penn
shares Of the capital stock Of the Penn
| sylvania Steel company. My last purchase
was made on the 9Th Of May OF this year
/ own 1000 of the $4,000 shares of stock
Of the Cambria Steel company (par S5O),
TbhSh ybaTa pTrGhased Mo o st cost Of 81 per
placed 1900 shares Of other stock OF the
said company, all of which were bought
acquired a majority OF the shares of the
Cambria Steel company, but which l had
| subsequently sold.
No Commission on sale.
Mr.. Cassatt said he had not directly per-
formed any service in connection with the
receipt, transportation or 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
OF the furnishing OF sidlngs equipment,
motive power, dockage or other accommo-
dations for any of the companies named,
unless the purchase of locomotives and
cars for the general business of the Penn
sylvania Railroad company and the fur
nishing OF sldlngs. under the authorization
of the board OF directors, may be held TO
come within the scope OF the question
asked.
President Cassatt says he has never re-
ceived any commission, compensation, gift
or gratuity OF any kind from any shipper
on the Peunsylvania's line or any Of the
five companies he mentions in his first
answer.
In reply TO the question as to whether
he is pecuniariy interested in any cor
poration. association or Individual doing
work for or furnishing materials OF sup
plies to the Pennsylvania system, he says
that the five companies mentioned in his
first answer make sales to the Pennsyl-
vRnia Railroad company and with the eX'
ception OF these companies, he is not In
terested or concerned in corporations OF
: individuals referred to in the query.
lie says he has not performed, and is
not now performing any service in con
: nection with work done for, or the pur'
chase or receipt of materials or supplies
8 by the Pennsylvania railroad system, ex
cepting that he has. in accordance witt
established custom, purchased the stee
E rails for the entire system These pur
I chases are reported to the board OF direc
e tors for their approval.
NJ VnfAHaat an C0aI Gamma
I After concluding his answers Presiden
e Cassatt makes the following statement e
b the special committee:
You will observe that the only coal stocl
owned by me since becoming president o.
the Pennsylvania Railroad company Is 10
J shares OF the Millwood Coal and Coke com
pany, which stock has been sold, but II
holder OF stocks OF the Keystone Coal an'
Coke company. the Berwind-White Goa
company, and of my being interested il
the firm of Cassatt e. Co, think II prope
z to state that / never owned or had an!
interest in the stocks of the Keyston'
= Coal and Coke company or of the Henrtett'
= Coal company, nor have l ever had an!
8 interest In the irm of Cassatt q Co.
never owned any stock OF the Berwind
White Coal Mining company while al
J, officer OF the Pennsylvania Railroad com
with the company. which terminated by m,
/ resignation of the vice presidency in IN
faH OF lSs2 or since became presiden
n in 1899. but when in 1886 Mr.. Charles ]
: Berwind, then head OF the partnership o
u Berwind. White & Co., formed the presen
Bsrwind-White Coal Mining company L
take over the business OF that lrm, pur
. chased 400 shares OF the stock Of m
= company and paid for Il at the then mar
o kket price, which was 25 per cent of 1t
o par value. I sold this stock in 1891. Yo
will observe that Il. was purchased fou
years after I ceased to be an officer O
e the company and sold eight years be
z fore was elected to the presidency.
: never had any interest in the partnershi
~ of BerNind White a Co