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Q11. And how long have you been secretary of the Kingsbridge Railway Company?

A. I don't remember the date, but only since the appointment of a receiver for The Third Avenue Railroad Company.

Q12. Some time in March of this year, was it?
A. Yes, sir.

Q13. Will you state in regard to the Union Railway Company of New York City first who the stockholders are, and if you can, the number of shares of stock held by each of them?

A. The stock of the Union Railway Company is held as follows: Central Trust Company of New York, as Trustee, 19,955 shares. The following names five shares each : Harry Bronner, Adrian Iselin, Charles P. Northrop, Dudley Olcott, Thorwald Stallknecht, Throop Geer, James N. Wallace, Edward A. Maher, Reune Martin, inaking a total of 20,000 shares.

Q14. And is 20,000 shares the total amount of capital stock of the Union Railway Company now outstanding?

A. It is.

Q15. Now in regard to the Westchester Electric Railroad Company, will you make the same statement?

A. ('entral Trust Company, as Trustee, 4,955 shares; E. Francis Hyde, 5 shares; John Byrns, 5 shares; Frank B. Smidt, 5 shares; Middleton S. Borland, 5 shares; R. Britton Irwin, 5 shares; Albert Rotlıbarth, 5 shares; George W. Davison, 5 shares; Beverly W. Reynolds, 5 shares, Reune Martin, 5 shares, making a total of 5,000 shares, being the total amount of outstanding stock.

Q16. Now, in regard to the Yonkers Railroad Company, will you make the same statement?

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A. Central Trust Company, as Trustee, 9,880 shares; Reune Martin, 5 shares; Middleton S. Borland, 5 shares; E. Francis Hyde, 5 shares; John Byrus, 5 shares; F. B. Smidt, 5 shares; R. Britton Irwin, 5 shares; Albert Rothbarth, 5 shares; George W. Davison, 5 shares; George J. Murphy, 5 shares; Mary A. Combs, 25 shares and Caroline C. Smith, 50 shares, making a total of 10,000 shares, the total amount of stock issued.

Q17. Now, in regard to the Tarrytown, White Plains & Mamaroneck Railway Company, will you state the names of the stockholders and the number of shares held by each of them?

A. ('entral Trust Company, as Trustee, 11,955 shares; Edward A. Maher, 5 shares; Reune Martin, 5 shares; Thomas A. Maher, 5 shares; John H. (alhoun, 5 shares; Herbert E. Foxwell, 5 shares; Frank F. Ogston, 5 shares; Joseph H. Holmes, 5 shares; John P. Devoy, 5 shares; D. B. Hasbrouck, j shares, making a total of 12,000 shares, the total amount issued.

Q18. Now the Southern Boulevard Railroad Company, will you name the stockholders and the number of shares held by each?

A. (entral Trust Company, as Trustee, 2,138 shares; Edward A. Maher, 5 shares; Charles E. Warren, 5 shares; D. C. Moorehead, 5 shares; M. G. Starrett, 5 shares; F. S. Gannon, 5 shares; F. F. Ogston, 5 shares; D. B. Hasbrouck, 5 shares; Reune Martin, 5 shares; and 17 shares in the hands of about a half a dozen people whose names I cannot recall at the moment, making a total of 2,500 shares, the total amount of stock issued.

Q19. Did you sign the stock certificates that were issued in the cases of the l'nion Railway ('ompany,

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Westchester Electric Railroad Company, the Yonkers Railroad ('ompany, the Tarrytown, White Plains & Mamaroneck Railway Company to the stockholders whom you have just named?

A. In almost every case; not in the case of the certificates in the name of Edward A. Maher in any of those companies, and in the case of the Southern Boulevard Railroad Company I did not sign the certificates for 17 shares, the names of the holders of which I am not able to give from memory. In the Yonkers Railroad Company I did not sign the certificates for 25 shares for Mary A. Combs and for 50 shares for Caroline C. Smith. All the rest of the certificates I signed.

Q20. These were issued by you as secretary of the various companies?

A. Yes, sir.

Q21. Have you the custody of the stock books and the minute books of these companies?

A. Yes, sir.

Q22. And the facts you have stated in regard to the stockholdings are taken from those minute books and stock books in your possession?

A. Yes, sir.

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(No cross-examination.)

JOHN BEAVER, called and sworn as a witness for complainant, testified as follows:

Direct-examination by Mr. Borland:

Q1. Are you, Mr. Beaver, at the present time an officer of The Third Avenue Railroad Company?

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A. I am not, no, sir.

Q2. And how long is it since you have been an officer of The Third Avenue Railroad Company?

A. I think it was the 30th of April, 1908.

Q3. And prior to the 30th of April, 1908, were you an officer of The Third Avenue Railroad Company?

A. I was, yes, sir.
Q4. What office did you hold?
A. Treasurer.
Q5. How long were you treasurer?
A. Thirty years.

Q6. For thirty years prior to the 30th of April, 1908?

A. Yes, sir.

Q7. On May 17th, 1900, as treasurer of The Thiri Avenue Railroad Company, you verified a paper which is endorsed “Schedule of the Floating Indebt. edness of The Third Avenue Railroad Company and of its Controlled Companies, prepared to be filed with the Mortgage of The Third Avenue Railroad Company to Morton Trust Company, as Trustee, dated May 15th, 1900.” Will you look at that schedule of floating indebtedness and see if you recog. nize that as a paper which you have signed?

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! Paper handed witness.)

A. I did.

The paper shown to the witness is offered in evidence, and the same is marked "Complainant's Exhibit 51, November 17th, 1908, J. A. S., Exr.”

Mr. Perry: Objected to as incompetent, irrelevant and immaterial.

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Q8. Referring to page 6 of this schedule of floating indebtedness, Mr. Beaver, there appears on page 6 a heading, “Loans Secured by Collateral," and under that, "A Loan held by the Central Trust Company, dated February 2nd, 1898, and April 18th, 1898, of $1,477,500," stated to be secured by the following stocks and bonds: 20,000 shares Union Railway Company; 13,000 shares 42nd Street, Manhattanville & St. Nicholas Avenue Railway Company; 5,000 shares Westchester Electric Railroad Company; 2,483 shares Southern Boulevard Railroad Company; 45 shares Yonkers Railroad Company; 12,000 shares Tarrytown, White Plains & Mamaroneck Railway Company. Do you know whether at the time this schedule was verified by you those stocks that I have read to you now were pledged to the Central Trust Company as collateral for this loan?

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Mr. Perry: Same objection.

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A. They were.

Q9. And at that time was The Third Avenue Railroad Company the owner of these stocks that were pledged to the Central Trust Company as its collateral?

A. Yes, sir.

Q10. And the number of shares of these controlled companies that I have just mentioned to you were owned by The Third Avenue Railroad Company?

A. They were

Q11. Referring to page 8 of this schedule of floating indebtedness, it appears that there was pledge to the National Park Bank under a loan dated November 15th, 1899, due December 27th, 1899, 3.500

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