The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-24

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,.,f "rk 10 W. IH'ton, WIN through
r.a...h.u with Mr Patton and col HUI
r operator aud promoter. has nov
..uul tas Dn worth ~ coal stocks which
,s' him not u cont.
niat what he did for them the witness
f.ol to toll very clearly. the main feature
,fni- evidence, like that ~ his chief. being
o. nii-tinct recollection. he had stOod To
I.o 4umcthing, he said. but Just how much
YES brought ont, however, that he mover
did lose anything,
First Vice. President Green aud Third
Nce-President Samuel Rca were also wit
POSSES to-day Capt. Green attempted to
rjstify the system, at the existence Of which.
u fcv days ago, be expressed great sur
rri-e, and which he promised to i~nvesti-
gato. His plea was based upon a state
mcnt made by J. Edgar Thomson, presi-
dent Of the Pennsylvania Railroad In 1874,
when NJ Thomson is alleged to have said
that a. Ahe railroad could not pay big sal
aries, the men should engage In promoting
enterprises along the line Of the railroad.
He admitted that this did not mean the
distributing Of free blocks Of stocks among
railway employees, but the actual invest
ment Of money and the actual promotion Of
companies. -
Mr.. Green does not possess and never
did possess any coal mining stock and this
fact led Chairman Knapp OF the commission
TO ask the witness II his failure to have stock
in coal companies did not lead his subor-
dinates to believe him eccentric.
y Capt. Green said in answer to questions
put by Mr.. Glasgow:
Il nave been with the company forty
years"
Did you own any Goa property directly
or indirectly?' Il never did; on the Penn
s~ylvania Railroad or any other railroad
Has the Pennsylvania Railroad any
interest in the Adams Express Company"
None whatever, and II never had, except
in the contract that exists between the
two companies"
rs the Pennsylvania Railroad interested
in the Susquehanna Coal Company YES,
sir, it owns that company outright"
How long has this been?" Ever
Gince l have been connected with the road"
Have you ever suspected any of your
subordinates of holding stocks in. coal
companies?' "Not exactly for the very
reason that when the act of Assembly of
1874 was passed there was a feeling against
officers and employees of railroads holding
such interests. The policy Of J. Edgar
Thomson. then president. however,. was
that when officers and others had money to
invest they were encouraged to invest it
along the lines of the P~ennsylyania Rail-
road. But they were not encouraaed to
take stock without paying for it. Cficen
were permitted TO invest In coal companies
which ia perfectly legal"
sBut az to the propriety Of IL. CAPTAIN.
We are not discussing that. We are IN lkinq
Of the legality of he prooeedine and are
accusing M one of being a criminal: hut the
policy Of T."
1T IL not the policv Of the pennsvl
vania Railroad TO autborize such an in
yeatment 7 do not think 4 10 neoesaarx
to ask that
81 don't want the public.s continued
Capt. Green. ato get the idea that owner
shin of coal stocks in good faith is either
Illegal or improper. 1 believe that YOU,
MIR. Glasgow. and the gentlemen Of the
commission wish to te perfectly fair
I'VE don't want" said counsel for the
commission, ito put ANYBODY in a false
position, but 1t is a subject for much adverse
criticism for railroad officials to possess
such stooks.' well. the whole thing ia
a question OF good faith replied Mr..
Green.
Asked about u~nfairness in the distribution
Of coal cars Can't. Green answered:
"Thouobt The pann.v,ra nia RI, Irood snand.
millions annually in the purchase Of oars,
It is impossible for us 10 supply the de-
mand Wa don't M nt q pIyat IA car IN