Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1908-04-22
LOEB DENIES WRONCDOINC
Secretary to President Explains Own
ership Of Traction Stock.
TAKES NO PART IN LEGISLATION
senator Referred 60 by Mr.. Sims f.
Mr.. Newlands, who Holds 1000
shares a. Trustee of
sharon Estate.

WASHINGTON, April A.-The references
to Mr.. Loeb. secretary to the president IN
the house yesterday by Mr.. Sims in con-
nection with his ownership OF 400 shares
of stock in the Washington Railway &
Electric company called forth today a letter
from Mr.. Loeb to that gentleman explain
ing how the stock came into his possession
and suggesting to Mr.. Sims that he should
be most scrupuious in dealing with mems
characters and regulations. Mr.. Sims read
the letter.
Explaining his possession Of the stock
Mr. Loeb says:
Forty-seven hundred shares of the capital
stock Of the Washington Railway q Elec-
trio company stand in my name on the book
Of the company one hundred of these
director. are mine; 1900 are holdings on
friends OF mine for whom l simply acted
as representative at the last annual meet
ing of the stockholders of the company at
which / was selected a director with the
view of my possible election as president
Of the company II decided to take up that
line of work after leaving official life.
This record has been and still Is open to
you OF any other honest man at any time
and IL clearly demonstrates that any IN
sinuation tina tbs any mysterious or un-
worthy way or in any way whatever /
have accumulated such considerable
fortune as your speech implies is as un-
fair to me as II is unworthy OF you.
Speaking of what he calls Mr.. Sims IN
timation that l have improperly interfercd
with traction legislation" Mr.. Loeb says:
Immediately after my election as di-
rector of the company the chairman OF
the house district committed, MIR. Smith,
called upon me and started to ask my ad-
vice as to certain bills affecting the trac-
tion companies pending before the commit
tee. / at once Informed him that while
occupied the position of secretary 10 the
president / could and would not discuss
with any member OF consFess is ANY snblIe
service corporations. 1 have seen Chalr-
man Smith, who will verify this statement
and | cite this instance to show how scrup-
ulously careful ] have been to observe the
proprieties in the case. No senator among
my intimate friends has been ither directly
or indirectly approached by me on any
phase of the traction legislation
After reoding the letter Mr.. Sims said
that he was the last person 20 take ad-
vantage of any congressional privilege TO
say anything derogatory of any man and
therefore he felt that the letter should be
read as in a public manner as ne had made
his statement. Mr.. Sims declared, how
ever. that he had based his statement on
an official communication to the speaker
wherein It was shown that Mr.. Loeb had
400 shares of the stock in his name.
Later Mr.. Sims without mentioning the
name of the senator to whom he yester-
day referred. but who 1t was learned
through the senator himself. was Mr.. New
lands Of Nevada, as owning over 1000
shares of Capital Traction stock, read a
statement from the senator, saying that
the stock came into hts possession as trus-
tee of the sharon estate long before his
entry into public life ana that since he
controlled it he had not participated in
any legislation on street railway matters.
Senator Newlands himself gave out a
statement in which he said when the legis-
lation regarding the street railways in
connection with the Union station came be-
fore the district committee he informed the
members of the committee of his interest
In the stock and announced that he would
not participate in their deliberations and
that he has since taken no part in the
deliberations or action Of the district COM
mite or Of the senate on this subjec.