Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-05-23
Interstate Commerce Commits
sion Continues Its Investlga.
tons Into Their Relations.
cASSATT's ASST A WITNESS.
Proved Very Unwilling One and
Was Ilnrd to Get Anything
Ont or.

the Pennsylvania railroad are among
the witnesses who will be examined
during the investigation this week OF
the interstate commerce commission
into the alleged discrimination by the
railroads IN the distribution Of coal
cars. The hearings were resumed to-
day
The revelations last week when
number OF Pennsylvania railroad Of
ficials admitted accepting gifts OF
stocks In various soft coal mining COM
panies inpeed the commission to sub
pocna more important officers IN an
effort to determine the extent of the
secret business relations alleged 10
exist between the railroad and certain
coal companies,
As a result OF the Investigation MI
nority stockholders Of the Pennsylvania
railroad are said 10 be considering
plans TO bring about a more thorough
probing through the state legislature.
Such an investigation would include on
inquiry into all the details surrounding
the contracts for steel rails. engines and
other equipment made In the last five
or six years The present investiga-
ton is limited by the TilIman- illesple
resolution 10 the relations OF the rail-
roads to the coal and oil industries.
The entire commission sat for today's
hearing.
The first wtness was w. A. Patton,
President Cassatt's assistant at Phil
adelphia, He was asked what intertst
he had In coal companies. He enumer.
ated the various companies In which
he held stock Concerning the Key
stone Coal company, OF which $500
shares were IN his name. he said he got
the stock by purchase and through the
merging with the Keystone company
OF smaller companies 10 which he was
interested. Five hundred OF the shares,
he said, belonged 20 his brother, j,
Howard Patton, who IL interested In
coal properties IN western Pennsylva-
MA Mr.. Patton explained that he
held stock In five companies which were
consolidated with the Keystone, and
through that transaction secured his
holdings IN the Keystone company.
Mr.. Patton proved an unwilling wit
ness when questioned about his hold
ings IN the Atlantic Crushed Coke COM
pany and repeated efforts were made
by Mr., Glasgow to draw positive
statement as to whether he had paid
any dttuHl fdrI lhI MS 5Vu TlltitS III
the company. Mr. Patton explained
that he became interested IN the land
purchasing company through J, How
ard Patton who represented the inter-
esta of Col George +. Hun. When
the land was purchased he said the in
vestors were obliged to pay their pro-
rata share, but as there had been no
losses, II was necessary to pay In
cash.
You got that obligation back, didn't
your"
II DID in stock
Were you required 10 pay anything
toward the purchase OF the land?'
II stood to lose and had II been nee
essary. would have paid my share"
Senator Cockrell here interrupted,
saying.
1T seems TO me TO be an easy mat
ter for you TO say you went into
speculative deal; that none OF you paid
any cash and that the corporation was
responsible for the purchase price.
| do not see the necessity OF beating
| about the BUSH
CAS- a matter OF fact" said Chairman
| Knapp, You took the risk. but did not
| lose anything.
II was an investor" replied the wit
| ness. and was treated the same as
| other investors"
| Concerning the Huron Coal company,
| Mr. Patton said he thought he had 800
| shares, but was not certain, which ne
| acquired in the same manner as his
| holdings I'm the Atlantic Crushed Coke
| company. He was asked II he ever
| held stock In the Columbia Coal com
| many. He said he had AT its organiza-
! ton but II became selling company
instead OF an operating company and
1 he sold his stock TO a Greensburg, Pa,
banking company.
What bank took III?
''The Cassatt bank"
In the Greenwish company Mr. Pat
ton said he had 1000 shares. He said
4 he was obliged by note TO the amount
| OF 500 900 for the purchase Of the land.
| The money was guaranteed by Mr..
! Huff's bank at Greensburg, Witness
| said he got the money back through
the sale o. bonds.
Concerning the Cochran Coal COM
! pany. Mr. Patton said there were 1900
or 1000 acres Of undeveloped coal land
and some Of our people" suggested to
| Thomas Cochran the desirabilty of de-
| Yeloping II.
Asked what he meant by some of
our people" witness said bankers and
brokers and others who might be In.
trested IN the development Of the
land. Mr.. Patton said he was abligated
to the amount OF $4,000 In the organl-
cation of this company, Thomas Coch-
ran going on his note. He acquired
800 shares In the company but paid no
interest ON the note.
The examination Of Mr.. Patton de-
veloped the fact that he held stock In
dozen coal companies, 6,i40 shares
Of which with par value of 1907 900,
he had acquired without payment. In
addition he owned 700 shares which
had been paid for.
How do you explain the fact, Mr..
Patton" quered Mr.. Glasgow that
you acquired principally through Geo.
F.. Hut, such an enormous amount of
stock"
Mr.. Patton said he was born IN west
ern Pennsylvania and had had been a
life long friend OF Col Hun Friend
ship" he said, goes good ways.
These stocks were not given me Tor
any favors l might be able Is do the
companies"
Were your superior officers aware
that YOU owned this stock?" asked Mr.
Glasgow.
81 think Mr.. Roberts and Mr.. Thomp.
son were"
And Mr., Cassatt7"
Il Judge So II was generally known
a. W. Gibbs general superintendent
Of motive power at Altoona followed
Mr.. Patton. He said he owned no stock
and was In no way Interested in an,
coal company.
$1,000 ----------------- -