The Placer herald., 1864-10-29

such ample and accurate material to collate and
prepare an ample and satisfactory report for your
| information, report was prepared for our sigma.
| ture, and as we of course, could not be expected
| from memory alone to prepare it, some one, or
perhaps more, Of the officers Of the company, rs
| firmly believe, kindly took that duty on them
selves, and saved US the trouble and responsible
ity. The report, however, refused to sign, con-
sidcring it, in many respects, an unaithful record
! of facts and In its general frame ewOrk docu-
ment CT an entirely different nature from the one
required. AZ to the general history OF the Pa
cifc Railroad in the hands of its present energetic
mana gers you are doubtless entirely familiar. as
! the public press from time to time has kept you
fully advised thereof A reeiterationof this, there
| fore, can advance no useful purpose; but faith
| u record of the internal management of the
affairs of the company would be Of vast import
ance ls from it. we, who are 80 deeply interest
| ed in it, can see in what manner our moneys have
| been expended, and whether their officers have
been faithful to their trusts. This information
am constrained to say, fear you can never OBJ
| tain from the present Board Of Directors of the
| Railroad Company, except, perhaps, through a
compulsory legal process. Everything that l saw
| connected with their mode Of management ire.
sistibly forced conviction upon my mind that this
enterprise, in place of being as it was intended
| to be, u great national enterprise, has degener-
| ated into II scheme for the sole advancement Of
the personal or pecuniary interests of the Direc-
tors and their f.vorite associates and that the
| interests of the stockholders and others will be
| entirely sacrificed to aggrandize the projectors of
| the undertaking, Now. in the apparent pleni-
tude Of their success, they find it convenient to
refuse information to their stockholders, to COM
plicate and confuse their accounts so as to defy
examination. Yet the time will arrive when such
a course will recol upon them, and the Company
whose rights have been outraged, will deprive
the Board of their powers Of further evil. alb
stain from making any extended comment upon
the answers made by the Directors to the ques
tions they condescended to reply to- or upon their
refusal to answer others. simple perusal OF
| them will suffice to show:
| First-That the Directors will not, and dare
not, show to the stockholders how their moneys
| have been expended.
Second-That the Directors will not, and dare
| not show to the stockholders what amounts they
have paid among themselves for services and per-
quisites.
Third That the Directors will not and dare
| not show the stockholders the exact position OF
the affairs of the Company, or their own delin-
quency as stockholders
Fourtn-That the Directors do not intend to
prosecute the enterprise to the State line. but
only sufficient distance to "teed" the Wagon
Road enterprise, owned by portion of the Board
of Directors. And, in fiuc, that the whole con-
cern is close corporation, instituted, conducted,
and managed to enrich the Directors and impov-
erish the stockholders.
The report Of my associates will in all probabil-
ity be laid before you. 1t is for you to judge be-
tween them. If you prefer to rely upon the latter
document. prepared, as | verify believe, by the
Directors of the Company themselves, being the
report of my associates only in their signatures,
then hen am content-I shall have discharged my
whole duty towards you-and without prejudice
or fear of consequences, have endeavored to ex-
pose scheme rarely exceed in the history of
corporations. JAMES R. ROGERS,
President of the Board of Supervisors
of Placer County.
Questions propounded to the officers Of the Cen
tal Pacific Railroad Company, by, James r.
Rogers. President Of the. Board Of Supervisors
of Placer County,:
lst-How much Of the capital stock has been
issued, and the amount to each?
Answer--Eight thousand seven hundred and
twenty-one shares of full paid stock have been is
sued; company decline giving abstract of names
| of stockholders and Mr.. Madden and Scott do not
require it answered.
2-How much stock has been issued for other
considerations than cash! To whom and tor what
object?
| Answer-Eleven hundred shares to Lombard Il
Co., for iron, and seventy-fye thousand dollars to
| Wason Il Co., for cars.
3--How much cash has been received from in
| dividual subscriptions?
| Answer-FOur hundred and fourteen thousand
dollars and fourteen cents.
| 4tb-What is the amount Of the subscription by
| the Directors; how much subscribed by each, and
whether or not they have paid cash for the same,
Answered.. P. HUNTINGTON six hundred and
fifty shares; Mark Hopkins, six hundred and fifty
shares; Leland Stanford, six hundred and sev enty
five shares; Philip Stanford six hundred and six
ty shares E. B. Crocker, ten shares; D. NJ. Strong
fifty shares; G. Marsh. fifty shares; l.. A. Booth
ten shares; E. Miller. ten shares Cash has beer
received for the same as far as paid. Company
refuse TO allow q list of how much has been paiC
! | " divi1u.I directOrS how much dellnOueut
5th-How much individual stock has been sub
} scrbed rs total? How much paid on account o
: same? How much deliquent stock is on the books
and who is delinquent?
J Answer-With regard to delinquent stock, the
company decline giving an account and Mr. Scot
, and Madden do not see the necessity of it.
, 6th-How much stock has been issued by the
company to contractors? Whether not they
have transferred it to others? II so, to whom?
} Answer Two hundred and ninety seven shares
of stock have been issued to contractors.
} 7th-How much has been issued, full paid, t(
) parties not living in California; amount issued tt
each, and place of residenceI
Answer--Company decline allowing abstract.
to be taken.
sth-How much cash has been received in to
tai, and from what source? From stock, sale o
first mortgage bonds, sale of county bonds, re
ccipts of road, and from loans? and how much ha
been expended and for what object, viz: salaries
! cost of road, etc?
l Answer-It will take too much time. We coul(
, give it to you but it would take too long. Mr.
, Scott and Madden do not see the necessity o
answering the question, and do not require it,
, 9th--What salaries are paid and to whom, o
J officers a the company?
Answer-Company decline allowing copy o
pay rolls shown, but taken from table as soon al
| commenced taking an abstract.
10th--What amount has been received in gold
for sale of Placer County Bonds and Sacramento
County Bonds each? to whom sold and at what
rates, or do the company still hold them?
Answer - Fifty-one bonds OF Placer county
have been sold: twelve bonds we're sold at 663
cents in gold coin; thirty-nine bonds (Placer
county, were sold October 9th 1868, at 95 cents
in greenbacks Sale was made East.
llth-Was or is money still borrowed upon
them? If so. fiom whom and at what rate of in.
, terest. whether in gold or greenbacks?
Acknowledgements Stanford has borrowed mo