The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1913-07-03
AMAzFS SENATE
LOBBY PROBERS
Wall Street Operator ADJ
mits Impersonating.
DAVID LAMAR ON STAND

One Time Confidant of Russell SAGE
James r. keene and Other Finan-
cers Frankly Testifes He I'm.
personated Representatives Palmer
and Riordan in Telephone Con.
versations. 49,. r,...,a>. ...
Washington, July 3.-David Lamar,
Wall street operator and one time
confidant of Russell Sage, James F..
Keene and other financiers, amazed
the senate lobby committee by smil.
ingly ana frankly testifying that it
was he VINO unprecedented Represen.
tatives Palmer and Riordan in tele-
phone conversations with Lewis Cass
Ledyard, Paul D Cravath, Chairman
Robert S. Lovet: Of the Union Pacific
board and other prominent financiers,
telling them that Edward Lauterbach,
New York lawyer, could do great
things for them in Washington.
Lamar also astonished the commit
tee by making detailed charge that
the Union Pacific railroads books
had been forged in 1901 on an item
covering $S2,OOO,OOO, and that as one
result Kuhn, Loeb & Co. and the
late E. H. Hartman had laid the
foundations of gigantic fortunes.
When Lamar had finished Paul D.
Cravath of counsel for the Union Pa
cif1c put in prepared statement to
the committee alleging that Lamar's
charge concerning the { 100000
which amount is connecteu with the
Union Pacific surplus-was part of
bear campaign to depress Union Pa
cific stock, of which the railroads
officials have had knowledge for sew.
eral days.
as Lamar amused, entertained and as.
founded the committee as he freely
testified as to his impersonation of
congressman over the telephone. He
did it all, he said, to impress the
financiers with the abilities of his
friend, Edward Lauterbach, but he
stoutly denied there was ever any
mention that Lauterbach should profit
by legal fees.
Cummins Asks Questions.
Questioned by Senator Cummins he
said he was Methodist and that La.
mar was not his original name. He
declined to give that, saying that he
had had several names. He further
denounced the plan of dissolution of
the Pacifics as agreed upon at St.
Paul recently.
In 1897, Lamar said, Russell Sage
authorized him to proceed to compel
the Union Pacific to pay the govern.
ment $58,00O,O00 in bonds owing it.
Lamar, with Senator Foraker, came to
Washington and conferred with Presi-
dent Mckinley.
eve were charged with being a pair
of constituencies blackmailers," said
Lamar, "but that had no effect on u.s.
When Sage retired from business in
1901 on Sage's recommendation he be-
came associated with James r. Keene.
Lamar said he warned Keene, when
the latter was buying Union Pacific
stock, that the railroad, would ruin
him to get revenge for Lamar's pre-
vious activity. He detailed how, when
Keene and his associates had $43,OOO,-
600 Union Pacific he took steps to en-
join the voting of certain stock, so
that E. H. Hartman would be COM
PEELED to buy Keenes stock at a high
figure.
When the injunction was finally de-
cided against Keene Union Pacific
stock went down and Keene and his
friends lost most of their fortunes
CAS- result of the panic of 1907"
said Lamar, Hartman and Kuhn,
Loeb &, Co., the National City bank
and Morgan e Co. became bound to-
gether as with an iron band"