The Sun.
London, England, 1869-04-29 00:00:00

7 HE PACIFIC RAILROAD.

The Union Pacific Railway fight continues un-
abated, indeed grows in dimensions and crops up
everywhere. In IJtah, in Washington, and in New
York it excites great interest{; in the courts and in
the Legislature it is the all-absorbing topic. De-
bate has followed debate, recrimination has followed
recrimination, and the public are utterly at a loss
to judge of the merits of a case wherein the de-
fendants openly proclaim on the witness stand• and
in the halls of the Legislature the rascality of the
plaintiffs, and the plaintiffs assert as confidently
the rascality of the defendants. In the examina-

Lion there is a wide discrepancy between the affi-
davits sworn to, and the evidence given, and in
Congress the speeches on the subject deal very
freely with the characters of the directors. Senator
Stewart, of _Nevada, made a savage attack on Loth
the Union Pacific Railroad Company and the
Credit Mohilier. The latter be asserts to have de-
featt d the law which int Aided the stock to be open
for subE.criptiou by subscribing a little, then closing
the books, and building the road out of the enor-
mous subsidies obtained for bonds. The Senate con-
cluded by passing -a motion to direct the President
to fix the point of junction according to the legal
rights of the respective roads; and another motion
was agreed to, offered by Mr. Davis, of Kentucky,
to investigate whether or not the character and all
the franchises of the Union Pacific Railroad and
its branches have not been forfeited, and to execute
all necessary legal proceedings if they have ; second,
to investigate whether the said company has not
made illegal dividends upon its stock, and if so to
execute the necessary legal proceedings to have the
same reimbursed ; and third, to investigate whether
any of the directors, or agents, or employes of the
company have or have not violated any penal law,
and if so to institute, the proper criminal proceed-
ings againsts all of them who have done so. The
House Committee on the Pacific Railroad, after
hearing arguments for and against the Union and
Central Pacific Railroads, decided to suggest the
adoption of a resolution asking the House to autho-
rize the continuance of the investigation and the
taking of testimony during the recess of Congress.
A joint resolution was eventually passed by Con-
gress, after long and adjourned debates, by the
Senate. It provides that stockholders of the Union
Pacific Road shall bold a meeting in Boston on
April 22 to elect directors and estab.ish the general
office at such place as they may select ; that Ogden
shall be the point of junctiou of the two roads ; that
the Union Pacific shall continue laying the track
until reaching Promontory Summit, but the Central
Pacific shall pay for and own the same from Ogden ;
that the President shall appoint Gotnmissioners to examineinto the condition of the roads, and shall
withhold a sufficient amount of bonds to insure their
completion as first-class roads in every respect, and
that the Attoruey-General shall institute an exa-
mination as to whether the two roads have forfeited
heir franchises, and, if so, to proceed against them.
tThe liouseComrnittee agreed to withhold/row both
companies the bonds on the 80 miles of road be-
tween Monument Point and Ogden until the ques-
tion of junctiou was ~:ettled, a decision which quickly
brought the companies together to arrange their
differences. In the meantime the legal squabbles
progressing in .New York are becoming a bore.
The affidavits, the speeches of counsel, the ruling
of Judges are interminable; however, the latest de-
velopment is of interest, namely, that a clerk of
Mr. Durrant has credited to his private account
$5,000,000, against which the Union Pacific draw
cheques when it wants money. By direction of the
Secretary of War, the military route of travel to
the Pacific coast is fixed by the Pacific Railroad,
and $2OO advance mileage will be paid to officers
under orders from the East to California, Oregon
&c.