The Montgomery advertiser., 1906-06-11
TESTIMONY
 OF CASSATT Official Answers All
 Questions. OWNS NO COAL MINE STOCK Pennsylvania Railroad President
 Tells of His Holdings. After He Resigned Vice Presidency He Owned Mining Shares And Is Now Interested in Cambria Company.

Philadelphia, June 10-A special in- vestigating committee appointed by the board of directors of the Pennsylvania Railroad and acting for all the lines of the Pennsylvania system tonight made public the answer of President Cassatt to the questions propounded by the committee in one of its circulars sent to all officers and thousands of employees of the various lines.
 Mir. Cassatt takes up the questions seriatim and in reply to the first query as to whether he has any interest in any coal company or other enterprise located on the company's lines since January l. 1900. says:
 T 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 sys- tenn"
 Mir. cassatt then enumerated his holdings of stocks of the Pennsylvania Steel Company and Cambria Steel Com- pany and two smaller industrial com panies.
 MT. 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.
 In reply to another question he said he had not performed any duties in connection with the distribution of or allotment of cars or the furnishing of sidings. equipment, motive power. dock age or other accommodations for any of the companies named unless the pur- chase of locomotives and cars for the general business of the Pennsylvania Railroad Company and the furnishing ~ otA Ira nn~ -1a tA l< the board of directors may be held to come within the scope of the question asked.
 Received No Commission.
 President Cassatt says he has never received any commission. comuensa- tion, gift or gratuity of any kind from any shipper on the Pennsylvania lines or any Of the five companies he men tfons in his first answer,s
 In reply to the question as to wheth- CT he is pecuniarily interested in any corporation, association or individual doing work for or furnishing materials or supplies to the Pennsylvania sys- tenn he says that the five companies mentioned in his first answer makes sales to the Pennsylvania Railroad Company and with the exception of these companies he is not interested or concerned In corporations or individ- uals referred to in the query.
 He said he had 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 system excepting that he has, in ac- cordance with established custom pur- chased the steel rails for the entire system. These purchases are report ed to the board of directors for their approval.
 After concluding his answer. Presi- dent Cassatt makes the following statement to the special committee;
 Sold Coal Stock.
 The only coal stock owned by me since becoming President of the Penn sylvania Railroad is 160 shares of the Millwood Coal and Coke Company which stock has been sold. but in view of the reputed rumors of my being a holder of stocks of the Keystone Coal and Coke Company and of my being in- terested in the firm of Cassatt & Co.,. think It proper to state that never owned or had any interest in the stocks of the Keystone Coal and Coke Co. or of the Henrietta Coal Co.,. nor have I ever had any interest in the firm of Cassatt & Go.
 T never owned any stock of the Ber- mind White Coal Mining Company while an officer of the Pennsylvania, either during my former connection with the company which terminated by my resignation of the Vice. -Presi- dency in the fall of 1882, nor since became President in 1899, but when in 1886 Charles J. Berwind. then head of the partnership of Berwind, White & O., formed the present Berwin- White Coal Mining Co., to take over the busi- ness of that firm, purchased 400 shares of the stock of the company and paid for it at the then market price, which was 25 per cent of its par value. I sold this stock in 1891. You will observe that 1t was purchased four years after ceased to be an off, cer of the company and was sold eight years before I was elected to the Pres- idency. never had any interest in the partnership of Berwind. White & Company"