| OCR Text |
Show Tho Nchenek Investigation. continued from first PAGE. I Schcnck was closely interrogated as ; to the above settlement, staling that 1 Schcnck, instead of being out of I pocket was in pocket i'S.oOO, by the , transaction. Schcnck said he wUhcd m he cuulil view it in that light. Hewitt said he had proceeded very . S carefully in his questions ou the -theory thai Schcnck iimde a b'-n i tide contract with Park, but the point r remained, why Schcnck, bavin;; t, turned over his properly to Park, should continue to receive dividends on it. Schenck explained that the -i right to receive dividends, which were I $2,100, ou the insurance and coal J; slocks was to continue lor four years, i within which lime he had the right to redeem tho stocks, paying both principal and interest. 'r Hewitt eaid the suggestion was still r(-open r(-open that at the end of the four years , the stocks might bo returned to him by Park. Schenck replied that Hewitt . might as well sy the same thing as to the mortgage of his house in Washington. Howit.f. s:liil fhftf. bo iif.vnr lrnr.ro tv mortgage to collect rents, unless for his actual protection. Schenck understood un-derstood that a man might draw interest in-terest on mortgaged stocks as well as ou a mortgaged house. In answer to a question if while Park was bestowing lavors it had occurred oc-curred to him that he was acting so as to get his influence in the Emma mine transactions. Schenck replied that it never so occurred to him. He believed be-lieved Park to be a liberal and generous gener-ous man, and haviug been instrumental instru-mental in bringing him into the Emma mine speculation, he was desirous de-sirous ol assisting him out. He had no doubt that Park and others would have betn glad to have him serve as a manager or director so long as he (SchencK) did not oflend against public pub-lic propriety. He believed he had a right to buy and sell any kind of property, whether as minister, member mem-ber of congress, or occupying auy other capacity. It would not however bo commeudablo to go into the stock market. Schcnck-iaid Schcnck-iaid he had made a mistake in becoming be-coming a director; aud that this gave him more concern than anything else. He might be abus"d, but he could not see that he committed a moral wrong. Schenck in denying the statements of Lyon, whom he had seen but once, submitted a letter to him from Harry Brett of London in which he wants to know if James E. Lyon, now doing business in New York, is identical with James E. Lyon of Wisconsin, who became a bankrupt in London in 1S74. The committee adjourned till Monday. |
