Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-02-11

been secured. Senator Wakelee was
quite familiar with the details of the
deal, but said that it was Thornalfs
affair. The Bergen man was en-
phatic in his denial.
The firm of Wakelee, Thornall &
Wright has law offices at 50 Church
street, New York city. Mr.. Wakelee
maintains offices in his home town of
Englewood as we'll. Mr.. Thornall says
that Senator Wakelee takes care OF
Jersey business and that he looks after
New York affairs.
Mr.. Remick testified in New York
yesterday that in October last. when
he agreed to act as agent for the Tel,
and Tel, he had been introduced at
Tel. and Tells Office to W. II. Baker, Il
former vice-president of the Mackay
Companies and of the Postal Telegraph
and Gable Company, who, he was told,
was a practical a and he had en-
ployed Mr.. Baker at a salary of $4,000
a year to assist him in his phone
deals. Connections were severed, how
ever. OF January l. as Mr.. Remick had
no further use for Mr.. Bakers serv-
ices. In response to questions Mr..
Remick said hat he 6Mr. RemiclO had
at no time, however. taken any personal
interest in or direction of the practical
management of the Western indepeb-
dent companies while he held control of
their securities.
In telling of the sale of the Western
companies to Morgan & Co. Mr.. Remick
said that Mr.. Dawson, of the Morgan
house, had called him on the phone on
December I and offered to buy the Ohio
stock. Mr.. Remick told him that 1t
Would first be necessary for him, Mr.
Remick, to secure a release from an
earlier contract before he could con-
slider any such negotiations for his
stock, which had been in his vaults
since its purchase by Day & Co, and
that he would let Mr.. Dawson know
later. Mr.. Remiek had then called
upon Mr.. Hall. of Tel. & Tel. informed
him that he could sell the stock If Mr..
Hall would release him and Mr.. Hall
had consented to the release.
He had not, he said. mentioned to
Mr.. Hall tina the prospective pur-
chaser was the Morgan firm, and SO
far as he knew Tel. and Tel. did not
know it. He had sold the stock to Nor
gan & Co. tor more than he had paid
for it, he said. but he did not recall
exactly the figures.
Trust Furnished Money.
Later it developed that the brokerage
firm of Il. l.. Day & Co., through Mr.
Remick, first purchased the Ohio and
Indiana independent companies with
money loaned by the American Tele-
phone and Telegraph Company. Later.
when the trusts scheme for a holding
company failed, r. l.. Day q Co,
turned over the properties to J. L
Morgan a. Co, who now hold them.
Mr.. Remick told how the trust adj
vanced him $3.50, 600 to make the pur-
chases from Pre- sident +. IL. Golf, of
the Cleveland Trust Company, and
James S. Bradley, jr., former leader Of
the independent forces. On December
8 he received a telephone message
from Mr.. Dawson to call at the Nor
gan office. He did so, and after very
brief Negotiations, turned over the SCI
c~urities at an advance in price that
retted him for the entire transaction
about $65, 900 commission.
One independent company, however,
was exempted from the sale. That was
the one operating In Huntington. w.
Va. He sold that to Senator Wakelee'
he. said, and It has since passed into
control of the Southern Bell Telephone
comnanv. SO II was alleged.
Nv Ren,;clz received from Morgan &,
Co a checl, for Il. 100. 900. drawn on the
National Park Bank. He deposited
mis- in me K~nlckerbocker Trust Com
many. ami the same day drey, a. check
for 81. 0O0. COO TO repay the telephone
comnanv for the advances made him
In the original purchase. Later on he
SETTLED m for .he Huntington
and the interest account with another
ayn,ant IN the American Ids of
COCO oao
How De"is are """e'
1t developed that the negotiations for
the 1000, 900 deal were confined to a
single brief interview of about-hv min
utes with Mr. Dawson. In the sub
seauent visits he did not eve see a
1 Morgan PARTNER, hut only clerks. 1t
was n clerk who telephoned him next
day n formal acceptance of the terms,
He deli vered the millions of securities
tn n clerk and received from Clerk
.Jovce a check for 81. Q $1,000. The only
Investigation or examination made by
the Morgan firm into the properties
during the negotiations was to count
oyer he securities delivered to see that
an "eiS ho
ettorneys from calling j. Pierpont Nor
aan TO the witness-stand. his counsel
today revealed Just what the famous