The Placer herald., 1864-10-15
MINORITY REPORT OF THE BOARD OF
SUPERVISORS OF PLACER COUNTY
ON THE CENTRAL PACIFIC
RAILROAD.

OF ffuceT COUHfI
A S PRESIDENT OF THE BOARD OF SU-
IA PERVISORS of your county. and by law
entrusted with the responsible duty Of guarding
the Interests of the county have felt il my duty
to lay before you statement of my official action
rs a member of the Board while acting as Com
mttee to examine the books OF the Central Pacific
Railroad Company of California. The duty is
to me. one of extreme delicacy and unpleasant
ness, inasmuch as my relations towards that Com
pany, majority of its officers and managers,
have been, and still are, of the most friendly
character; but my judgment debating that my
public relations should ever outweigh all feelings
OF mere personal nature. have been induced
to action In this matter, rs my duty has suggest
ed. A short preliminary history of the reasons
for the appointment of the Committee and the
manner OF its appointment, deem necessary for
more perfect understanding of the subject
The county of Placer is stakeholder in the
Central Pacific Railroad Company to the extent
of S2500OO. upon which it is paying an annual
interest of $4,000 The subscription having been
made by the issue of county bonds redeemabe in
twenty years from date. After the year 1868. n
special annual railroad tax was to be levied as
sinking fund to redeem said bonds and accruing
interest. The county holds its stock as all other
stockholders, and the Board of Supervisors have
all the rights appertaining to the other sharehold-
ers of the capital stock. Thus it becomes their
special duty to see that the company in whose in
terest and welfare the county is so deeply inter
ested manages its affairs with honesty and fidel-
ity, and applies its revenues and resources in such
q manner as not only in as speedy a manner ns
possible carry out the great work in which it
is embarked, the completion Of which the State
at large. and the county in particular. are so
vitality interested. but also that the stock should
rs soon as possible become rcmunerative 10y the
declaration of dividends. so as to tighten our
cOun from the burden of q continuous and ruin.
GUS taxation. Actuated by these principles, and
also impelled by the fact that numerous reports
we're in circulation throughout the county dctri-
mental to the interests OF the Railroad Company
founded upon the assertions that the Direc tors of
the Company have, in many instances, acted in
bad faith towards the Company through contracts
entered into by them the improper and prodirll
issue and use of stock for ilieosl purposes. w4ut
of good faith in their intention of pushinr for
ward the work TO the State line ut as early n dav
rs possible, favortisn shown by the Directors to-
wards the Directory in the allotment of contracts.
lavish expenditure of the funds of the COMPANY.
and other improper acts The Board of SUPER.
visors deemed that an investigation made by them
into these matters, ana a report thereupon to YOU.
in the event Of the same proving satisfactory,
which at that time the Board had no reason to
doubt, would have placed the matter beyond fur
Their cavil, and resulted equally to the advantage
of the Company and the county. The Board.
therefore. in the first place appointed sDecf1l
committee of two aud selected for that purpose
the Hon. j. f. Hale and the Hon r lIggins
both gentlemen of the hi chest moral STANDING in
the county, and eminently qualified from ther
bu sipess qualifications faithfully and efficiently Ia
discharge the duty assigned TO them
After this action had been officially taken bv
the Board the Railroad Company throuph its
Superintendent and Attorney anpeared before
the Board and most urgently soupht the rescind-
ing of the resolution ayerrinp that the eyamina
ton would for various reasons he higblv detr-
mental to their interests. and would Affect their
various fiscal negotiations then in progress and
particularly did they object to the Investigation
being made by any other parties than the Board
themselves. This application. pressed upon the
Board in the most forcble manner possible. and
upon assurances that if the Board would under
take the duty the utmost facilities should be nf
forded to them. the Board was induced to with
draw from its former action and constituted
themselves as a Committee for the purpose of
said examination. Thus it will be seen that this
position was not courted by the Board or sought
after but forced uDon them MS il were bv the
express request of the Railroad Company On
the 9th dav of September the Committee met nj
Sacramento CITY and repared to the office of tho
Railroad COMPANY. prepared to make the neces-
sary Investigation. On stating to the Secretary
Mr. Miller the object of orr visit Mr. Uonkins
ore of the members of the Company. endured if
the Board had made out any definite course bv
which thew intended TO conduct the examination:
when he was informed nv me that as a majority
of the Board had declined to obtain either the
services of their own Clerk or some other com
petent expert to conduct the examination for
them. had prepared series of questions. which
| desired to receive answers to, and information
upon so that | might report the same to the citi-
zens of the county in the form of report The
questions were then produced read. and a copy
taken by the Secretary. While discussing the
matter with thai officer, several of the members
of the Board of Directors of the Company Joined
in the discussion, and from the character and tone
of their remarks soon gave me to understand
not only that the information should not be fur
nisbed. or the questions answered in full but that
7 should if | perssted in endeayorinp to make
the investigations be subjected to series of petty
personal insults with a view of endeavoring to
force me to abandon the examination. In this
view was more fully confirmed when one of my
colleagues suggested that if he were situated AS |
were that he would return to his home Not
feelinr satisfied. however. TO permit such uube-
coming conduct to withdraw me from the dis
charge Of my duty, informed the parties that |