The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-05-24
HELD COAL STOCK,
COSTING NOTHING
High Officials of the Pennsyl-
vania Are Put on the
Rack.
NO TROUBLE TO SECURE
HIGHLY VALUED SHARES
Even Clerks of the Road Got
Into the Game Pretty
Strong.

PHILADELPHIA, May 23.-Further
revelations concerning stockholdings in
soft coal mining companies by officials
OF the Pennsylvania railroad were made
today when tho Interstate Commerce
commission resumed It's investigation into
the alleged discrimination by railroads in
the distribution of cars.
Magnates on Stand
Three high officials of tho railroad ser
Vice. President John P. Green. the
Vice-Dresldent. Samuel Rea. and William
A, Patton. assistant 10 the president at
Philadelphia. were the important wit
| nesseS OF the day. Mr.. Patton was under
examination the greater part OF the morn
ing, and was an unwilling witness.
Got His Stock Free.
The persistent questioning of Attorney
Glasgow, for the commission, however
brought out tho fact that Mr.. Patton
which Is 10000. held In various coal
companies without cost to himself. He
explained. however. that he had signed
notes obligating himself for his share OF
IL Was proper for him TO accept the stock
under these conditions.
Makes Explanation.
Nlce-President Rea read a statement to
the commission, In which he explained
all OF his stock transnctions, stating that
ownership because OF his connection with
the railroad company. Mr.. Rea sold that
most OF his stock was acquired through
his associations with land purchasing
syndlcntes which took up the coal prop
critics for development,
Conditions Now Changed.
ce-President Green said that twenty
or thirty years ago 1t was not considered
improper for an official OF tho railroad to
own coal company stock but that condi-
ri In Qa
might not now be regarded In the samc
light as formerly. He informed tho com
mission that the board of directors of the
Pennsylvania railroad, acting upon the
Information that had been brought out at
the hearings. had today appointed a COM
mlttee of five directors to make an In
vestlgetion Into the connection of its off,
cials with coal companies. Mr.. Green said
ne did not own dollars worth OF coal
company stock.
Tell Of Discrimination
other witnesses testified to stock own
ership and TO discrimination In the dis
tribution OF cars.
Chairman Knapp. former Senator Cock
rell and Judson G. Clements conducted
thN hearing. Tonight Mr.. Clements left
for Cleveland, whore he will join Com
ings In the oil investigation beginning to-
morrow.
Will Find Out Secrets.
The revelations last week. when num-
Der of Pennsylvania railroad officials ad-
mitted accepting gifts OF stocks In varl-
the commission to subpoena more i'm
portapt officers I'm an effort to determine
the extent OF the secret business rela-
tions alleged to exist between tho rail-
road and certain coal companies.
Stockholders Aroused.
AS result OF the investigation minor
ity stockholders OF the Pennsylvania
railroad arc said to be considering plans
to bring about a more thorough prob
Ing through the State legislature Such
into all the details surrounding tho con-
tracts for steel rails. engines and other
equipment made in the last five or six
earf Yea by I'M Inc RTGeent lnNegsa9h rs nm
the relations of the railroads to the coal
and oil Industries.
Did Not Want to Sell.
Mr Patton proved an unwilling witness
when questioned about his holdings In the
Atlantic Crushed Coke company and re-
gov TO draw a. positive statement as TO
whether he had paid any actual cash for
his 400 shares in the company. Mr.. Pat
ton explained that he became interested
j. Howard Patton, who represented the
interests OF Col. George F. Huff. Whom
the land was purchased he eaId the In
vestors were obliged to pay their pro rata
share. but as there had been no losses It
was not necessary to pay in cash.
Got Back the Stock.
You got that obligation back, didn't
II did: in stock"
Were you required to pay anything
toward the purchase of the land2''
II stood to lose and had It been necss
sary would have paid my share"
Senator Cockrefl here interrupted, say.
ing.
"It seems to mo to be an easy. mat
ter for you to say you went into q speou
iative deal; that none OF you paid any
sponsible for the purchase price. I do
not see the necessity Of beating about
tho bush"
lose anything
II was an investor" replied tho VIII
ness. "and was treated tho same as other
investors.
Clerks Came Easy.
At the afternoon session D. S. Newbsu
purchasing agent, and Theodore Eiw'
chief OF motive power OF tho PennsY1'
vanin railroad, testified to buying coaI
stocks
A. Patton, held 40 shares, valued at SIS
500 for which he paid no cash The VII
ness said that through Mr.. Patton ana
Col HUFF he acquired stock when tbn
were organized by helping 70
ing himself to pay his share of tho losses
j. X Johnson, superintendent of the
Tyrone division OF the Pennsylvania rail-
road. testified that he was not in any
1t improper FOR a man in his |
position He had frequently been offered
stock.