Clarke courier. [volume] (Berryville, Va.) 1869-1997, 1908-04-15

Il
Memorandum directing Mr.. Brady
what to do with the excess above
two hundred and fifty thousands
dollars. the amount he himself was
TO receive for the franchise. He
was 70 send his personal check for
1911, 652.TS each to Il. 4. h.
Widencr. William l.. Elkins. Thos.
4. Ryan. Thomas Dolan and VIII
liam G. Whitney-all FIVE officials
/ of the Metropolitan Securities
Company while another personal
check for 1874, 023.93 was to GO to
the brokerage firm of Moore and
Schley. The balance of some
twenty three thousand dollars Mr..
Brady was to keep himself. pre-
sumably IN pay ment for his trouble
iucsrryiny thr. ugh the transaction.
Following Mr.. Brady's disclo-
sure and ian explanation of what
on It's face. appeared to be Il delib-
crate footing Of the Metropolitan
Company : treasury ny It's officials
for their own personal gain. it was
gwen out nv Mr.. Dulau and others
inculpai, q that the checks covering
the Overpayment To MIR. Brady
we're to reimburse the officials
uamcd for loans made by the com
psny. At the time it was intimat-
ed. though not asserted under oath.
that the loans were fnr Irnlitical
purposes; but only within tr
last few days have the details of
the transaction i.,., n rr,caI,d to the
public. last w,--k Mr. Thomas
+. Ryan was Summoned as witness
before special grand jury inves-
tlgaing the management of the
Metropolitan Railway Company
To whatever charges Mr.. RYAN
may be open rs To his financial
deals and mthods. lac tells the truth
under oath. He testified that five
81 The men In control IF the Metro
poliian Company contributed five
handred thousand dollsrS To the
national campaign fund of 1900.
presumably TO further the election
of Mckinley, and that they were
later reimbursed ont of the treas
ury of the Metropolitan Securities
Company, the holding concern of
the railway company and its affili-
ated lines. OF these five men Mr..
Ryan (who, by the why, is mem
Der of the State Democratic Execu-
tive committee of Virginia was one.
The plan pursued in carrying
through this transaction was SINH
lar TO that employed by Mr.. Perkins
IN having the New York Life
Insurance Company, of whose
finance committee he was then
chairman, contribute to the same
fund. With view to covering up
the transaction on the books of the
Metropolitan Company, the five
officials aged TO advance one
hundred thousand dollars each.
with the understanding that they
would reimburse themselves.
with interest, out of the funds
of the company when and as
soon as an opportunity offered for
so doing without the knowledge of
the stockholders. Not for six
years did such opportunity occur.
but when it did. in the shape of the
purchase of the Brady frachise. il
was at once improved. So far as
the stockholders are concerned.
uldappear to make little differ
ence where the nine hundred and
odd thousand deliberately lifted
out of the strong box of the Metro
politan- Securities Company went.
In any event, all that they have in
return for the expenditure is an
absolutely worthless franchise,
listed in the company's assets as
one imaginary railroad barred by
decree of court" But there is at
least some cause for qualification
that the men guilty of this shady
and crooked transaction did not act
for their own personal aggrandize-
ment, and that the public has at
last been brought to knowledge
of the fact that corporation mag
mates, resort to all kinds of shady
devices to contribute to Republican
campaign funds.
The half million dollars misap-
propriated from the funds of the
Metropolitan Securities Company
went to aid in the election of
Theodore Roosevelt as President
Of these United States.
Y t~Oinian- Pilot