The Montgomery advertiser., 1906-06-06
CASSATT DID
 NOT APPEAR
 Z His PresencsfWas Not
 NeIssary. HEARING OF PENNSYLVANIA New York Central Officials Were
 on Stand. Vice President Rossiter Testified That 5 Road Was Presented With 5000 sharrs of soft Coal Mining stock.

Philadelphia. Pa. June 5.-Contrary to expectations President Cassatt of the Pennsylvania Railroad did not appear before the inter-state commerce com mission today when it resumed its in vestigation of the alleged connection of the railroads with the soft coal and oil interests.
 Commissioner Clements said the in- vestigation had not reached the stage that demanded the testimony of Mir. Cassatt and he was unable to say whether his appearance would be re- duired by the commission.
 The examination of the officials of the New York Central Railroad oa- cupied all of the morning session and a part of the afternoon session. It deve- loped that no employees or officials of the company held stock in coal mining or oil companies. Vice President E. V. w, Rossiter testified, however. that the Beech Creek Coal and Coke Company had presented the railroad with 5000 shares of stock. par value s1ao, for traffic reasons" Later when the Beech Creek Company was merged in- to the Pennsylvania Coal and Coke Company this stock was surrendered, the railroad receiving sf.5o0.000 worth of stock in the latter company. The days proceedings brought out no reve- lations of a sensational character.
 Testimony of Rossfter.
 E. V. ". Rossiter. vice president of the New York Central and Hudson Riv CT Railroad, in charge of the financial department was the first witness. The examination was conducted by Attor- ney E. B. Whitney, of New York. Mir. Rossiter stated that he Is director of the Beech Creek Coal and Coke Com pany representing the interests of the railroad company on that board. whife now a part of the Pennsylvania Coal and Coke Company, It's business was conducted under it's original title. The railroad. the witness said. owns 5,0eo shares of preferred. 5,0oN shares of common stock and s5,00e.0eo worth of five percent bond in the Pennsylvania Coal and Coke Compsny
 How did the railroad acquire itl stock in the original Beech Creek Goa and Coke CompanygF inquired Commis' sioner Cockrell.
 Tt was given to the railroad In 1891 when the coal company was orga- nized."
 ''The railroad paid no cash for it?''
 NO, it was given for traffic req sons."
 Continuing MT. Rossiter said that a contract had been signed by the rail- road and the coal company and the stock was given In consideration of the contract.
  sel for the railroad company and read by Mir. Whitney. It was dated Janu- ary IT, 1901. and by its provisions the coal company agreed to mine at least one million tons of coal every year and the railroad agreed to furnish cars. The railroad further agreed to inter- est itself in no other coal company. ex- cepting the Clearfield bituminous coal corporation. The railroad also agreed to n,frchaaa ROO 900 tons of fuel coal every year.
 MT. Rossiter said the Clearfield cor poration was a merger of a number of small companies, owned by the New York Central. These companies, he said. supplied only fuel coal to the railroad.
 New York Central Oficials.,
 Commissioner Clements questioned Mir Rossiter concerning the policy of the New York Central as to it's officials holding stock in coal mining compa- nies.
 He said there was no absolute rule, but it was tacitly understood to be against the policy for offlcials to hold such stock.
 c. H. Ewlings, Superintendent of Freight Transportation, was next call ed.
 The railroads policy. he said, was to furnish sufficient transportation fa cilities for all coal mined and that there had never been such a scarcity of cars at any time as to seriously hamper the individual mine produc- tion.
 P, E. Crowley. Assistant General Su perintendent. said that when he was train master he had received gifts of cigars, ink stands and the like" but got no money nor coal company stocks.