Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1913-07-11
lamar POSED
AS CONCRESSMEN
Tells PrObers He Impersonated
Palmer and RiOrdan.
CHARGES BIG FORGERY
Wall Street Operator Alleges $s2,ooo'-
600 Item In Union Pacific Book was
False, Giving Fortune to Bankers.


False, Giving Rortune to Bankers.
David Lamar, a Wall street oper
ator and one-tlme confdante or Rus
sell Sage, James r. keene and otne
fnanciers, amazed the senate Todd.
committee in Washington by sml!
ingly and frankly testifying that
was he who impersonated Representa-
tiyes Palmer and Riordan in telephone
conversations with Lewis Cass Leo
yard, Paul d. Cravath, Chairman ROD
ert S. Lovett, OF the Union Pacln(
board, and other prominent financiers
telling them that Edward Lauterbacn
a New York lawyer, could do grea
things for them in Washington.
Lamar also astonished the commit
toe by making detailed charge tina,
the Union Pacific railroads books hac
been forged in 1901 on an item cover
Ing $S2,O0O00G, and that as one result
Kuhn, Loeb & Co. and the late Il. n
Hartman had laid the foundations OF
gigantic fortunes.
Eyes, I used the name OF Represen
tative Riodran," said Lamar, lin at
tempting to get into telephone com
munication with Judge Lovett. the
Judge was not there and so I did moi
talk with him. But I left message
with his secretary to the effect that
Congressman Riordan, Of New YORK
thought that Lauterbach could be o1
very considerable service to the Union
Pacific in settling the suits growing
out of the dissolution Of the Union
Pacific and Southern Pacific | stated
however, that 'Lauterbach did moi
want money; he simply wanted to Of
fer his service as friend
Lamar denied that he had ever
threatened anybody or that he had
tried to bribe those with whom he
talked when impersonating national
legislator. He said he tried to get
Lauterbach retained as Union Pa
cific attorney because he was sorry
for Lauterbach on account of the en-
nifty borne him by Kuhn, Loeb & Co
and by Mortimer Schiff.
"The Lauterbach incident" he said
"paled into insignifcance" compared
with $S2,00O,000 forgery which he
alleged was committed on the Union
Pacific's books in 1901.
81 don't know who did It," said La
mar, "the chairman of the board OF
the Office, but l do know this $4,000,
900 was the fulcrum which enabled
Hartman and Kuhn, Loeb C Co. to
gain control of these great corpora
tions."
He described a double entry" oi
sS2,00O,O0O representing securities the
Union Pacific assumed in taking over
the Oregon Short Line and the Ore
gon Railway and Navigation. The
items, he said, were carried in the
consolidated balance sheet" of the
Union Pacific June 80, 1900, but be
tween that time and June 80, 1901, he
alleged, some one had erased the $S2,
100000 item from one side of the led
ger, leaving it as credit balance on
the other side"
Lamar alleged that the principals
In the transaction went to Kuhn, Loeb
& Co. and secretly got nearly $500,
100000, which he believed was fol
their own use.
On another occasion, Lamar testi
fed, he talked over the telephone to
Lewis Cass Ledyard, using Repre-. en-
tative Palmer's name, and with Man
well Evarts, using keprese".a:i:' Z
Riordan's name. In both conVers .,i)r
he spoke about LauteIbach's s4rF:.e
Senator Nelson insisted tnat - III
testify explicitly whether ne sta~ed
those conversations that Lat -
had influence in Washington wa
ficials, senators or Representatives
81 am inclined to Ee iere ,llat
my conversation wi, q Mr.. Led. az
went very far in taat d.rec ion o. 10
affirmative side," returned Iaal~r.
"Why did you chang 20 Palmer
name instead OF sticking to Ror
aan's?" demanded Senator Ne:son.
"Well, Mr.. Palmer was very Euc!
In the public eye then IS one wh'
would have great inference at Wash
ington with the incoming admins >ra
tion," replied Lamar. He added thai
he did not know Palmer and had NJ
authority to ues his name.
Lamar said the late J. P. Morgan's
opposition to Lauterbach caused hin
to telephone Ledyard, using the name
of Representative Palmer to try to wiz
his favor and find out who had ostra
cised Lauterbach.
81 found out it was Ledyard him
self, said Lamar. He added he knew
Ledyard had stenographer on the
line making record of the talk,
81 read everything into it I could,
said Lamar. 81 think | offered him the
entire government. I may have lef
the president out"
Lamar set the committee in laughter
with his story of how he impersonatet
Palmer, lectured Ledyard because ht
did not go to church and told wha
remarkable things Lauterbach coulc
do at washington for the Morgan firm
When Lamar had finished Paul D
Cravath, Of counsel for the Union Pa
cifc, put in prepared statement Il
the committee alleging that Lamar's
charge concerning the $4,000, ,OO0-
which amour is connected with thu
Union Pacific surplus-was part of {
bear campaign to depress Union Pa
cific stock, of which the railroads Off
cisls had knowledge for several days