Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1907-02-03
EXPLAINS rvnrHss.
Kirby Tells More About His Deal,
With Lumber and OIL connpanlea.

Mr.. Cooke OF John II. Kirby. NJ
Kirby explained further about his dea
with the &irby Lumber company an
the Houston OIL company. witnes
said he had been Informed OF Mr.. Ca
houn. a New York hnancler, havin
failed to put up money in octobe
1902 MIR. Kirby said he did not knol
from what source Calhoun had secure
money for the Kirby company fro
January to November, 1902. lie sal
the Kirby company had financed itsel
from the sale ~ preferred stcck an,
its own assets. lie said that In IN
spring OF 1902 Calhoun wrote up 81
100000 worth OF Houston OIL compan,
stock. He said he had contemplate,
the selling OF $780, 600 stock In nav
ment OF his lumber lands. hut tina
Calhoun had put up with the Kirt
Lumber company the stock OF IL.
Houston OIL company.
Mr.. Kirby told In detail how his 30
curities and money had been manipo
lated by Calhoun. He said that he
wanted TO discharge the fiscal agen,
because he had failed to do his duty
He said he had employed Calhoun
without the authority of the board OF
directors of the Kirby company, but
the action was ratified afterward. He
said the stock held by Calhoun belong.
ed 10 the Kirby company and he could
not get him. Kirby stated he EN-.
ployed abbey 10 help him out. He said
Calhoun had borrowed money on his
own account and could not pay the
money. Witness caused laughter by
saying that he thought Calhoun was
next TO Morgan when he first met him.
but that was his first trip to New York.
| He said when Bailey got after Calhoun
| he returned the money within three
months. He said Bailey was employed
as his attorney from October 1902. and
May, 1904. He said some OF the stock
OF the Kirby company was sold TO y.
F. Yoakum and others. The Yoakum
crowd bought 81 $50 900 at par value
SIS per share The Yoakum crowd In
cluded Henry Clay Pierce. Bailey ne
gotiated part OF the sale OF stock 10 the
Yoakum interests. Bailey took over a
large number OF shares Tor the purpose |
OF negotiating them. Bailey bought !,
them at SIS per share and then sold 1
them at the same price. He got $40
per share as fee.
Mr.. Jenkins questioned Kirby about
the Bailey fee. He asked why Bailey
could not have been paid straight
fee instead OF commission fee for sell.
ing the stock.
Il guess he could" was the reply.
Witness said again that Bailey got
a cash Zee OF $4,000 from the Kirby
Lumber company and the rest was "a
pickup" He also said II was a con.
venient way Of bookkeeping.
Mr. Kirby said the stock OF the
Southwestern on company was sold
20 the Houston oil company and relai.
ed much about the Affairs Of these two
concerns. He said Bailey sold out the
stock OF the Southwestern OH company
10 himself for $50 0O0 and John +.
Shepley OF So. Louis row has the stock.
He is suing the Houston oil company
now for the value OF his stock.
Judge Poindexter took charge OF the
witness, and. In answer 20 a question.
MT Kirby said: we bailey and Klr.
by) both like TO borrow money when
We get a chance"
Mr.. jenkins questioned Kirby on the
so-called lumber trust In Texas. wit.
ness said he never knew of retail :
blacklisting mills that sun.
pied the consumer because Il was an
Did principal OF a wholesaler not en-.
'ering into competition with the re-.
ailer.
on redirect examination by Jenk,n,
M. hirby admitted he had employed
Saiey on account OF his knowledge az
Texas laws
Senator Senter took up the eNamina.
Ion OF Kirby. The latter said no prac.
iced law four years. then engaged An Z
ailroading and financed a railroad
'e was promoter and was chiefly
nsased IN the lumber business He
al very few dealings with New York
naneiers before the organization OF
le hiroy Lumber company. He said
owner 235.O00 OF lumber land IN
asst iexas He said he was a promo.
y OF the Houston OIL company and
ie hiroy Lumber company. making n
'tai capital OF $4,000 600. He hired
aihoun TO finance these enterpr,ses
men asked n question BY Senator 4
enter, Kirby stated that Yoakum
isn, De representative OF Rockesel
y interests. He said that Yoakum =
presented MS colleagues In the Kir.
aeai ana n representative was sent
ieNas 10 look over the properties D
senator Looney at this juncture oh. II
c'eu 10 certain questions OF Senator
inter as being irrelevant.
chairman O'Neal stated that he 6
,uid IKE 70 get through with the
tness' as two other witnesses were
siting. WIZ
senator Senter arose and stated that
senate committee was presen,
rough the courtesy OF the house com.
,'ee ana ne did not want 10 overs,ep III
eri rules. but he would insist thar the
nate committee permit him IN ex.
line Mr.. Kirby further.
senator Looney then Withdrew his
Ieeuons and Chairman O'Neal ex. :
essed his willingness for Mr.. senter
40 ahead with his questions. me
senator Green arose 20 a question OF
rsohal privilege 10 make a state. pre-
mt regarding an article In the San
tonic Gazette regarding the alleged ~
fairness OF the committees. He said pro
oeheved II was untrue. aud n true
would have resigned from the sen. wa
committee. He asked an expires.
y from each committeeman about p'o
fairness OF the committees. An In flee
room made a statement 20 this ef.
and Judge Poindexter also stoutly "a
er'ed mat he was trying 10 throw VIC
-. IA