The Placer herald., 1864-10-22

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, as
firmly believe, kindly took that duty them
selves, and saved us the trouble and responsible
ity. The report, however, refused to sign, con-
sdering it, in many respects, uniaithful record
OF facts, and in its general framework docu-
ment of an entirely different nature from the one
required. AS to the general history Of the Pa
cfc Railroad in the hands of its present energetic
mana gers, you are doubtless entirely familiar. rs
the public press from time to time has kept you
| fully advised thereof. reeterationof this there
lore, can advance no useful purpose; but faith
| iul record of the internal management of the
| affairs OF the company would be OF vast import
nnce; rs from it. we, who are so deeply interest
| ed in il. 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
/ compulsory legal process Everything that saw
| connected with their mode Of management irrc-
sistibly forced conviction upon my mind that his
| enterprise. in place Of being rs it was intended
I to be, great national enterprise. has degener-
! ated into scheme for the sole advancement of
the personal or pecuniary interests of the D;rec
| tors and their favorte associates and that the
| interests of the stockholders and others will be
entirely sacrificed to aggrandze 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 he 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. A simple perusa 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 Director will not and dare
| not, show to the stockholders what amounts they
have paid among themselves for services and per-
quisies.
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.
Fourth That the Directors do not intend to
prosecute the enterprise to the State line, but
only Il sufficient distance to ''fecd" the Wagon
Road nerprise, owned by portion Of the Board
of Directors. Aud, in fuc, that the whole con-
Germ 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. Ii 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 | 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 excelled in the history of
corporations. JAMES r. ROGERS,
toft a., D., oFC
of Placer County.
Questions propounded to the officers Of the Cen
hal Pacific Raiiroad 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-onc 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 il answered.
2-How much stock has been issued for other
considerations than cash? To whom and Tor what
| object7
| Eleven hundred shares to Lombard &
| Co.. for iron, and seventy-ive thousand dollars to
| Wason Co., Tor cars.
3--HOw much cash has been received from in
dvidual subscriptions?
| AusWer-Four hundred and fourteen thousand
| dollars and fourteen cents.
4th WI hat 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?
| Answer-C. p. HUNTINGTON six hundred and
fifty shares; Mark Hopkins six hundred and fifty
shares; Leland Stanford, six hundred and seventy
| five shares; Philip Stanford, six hundred and six
y shares; E. b. Crocker, ten shares; D. NJ. Strong
! fifty shares; G.. Marsh. fifty shares; l.. A. Booth,
ten shares Z. Miller ten shares Cash has been
| received for the same as far rs paid Company
refuse to allow list of how much has been paid
by individual directors or how much delinquent
5th-IIow much individual stock has been sub
scribed as a total? How much paid on account Of
same? How much deliquent stock is on the books
and who is delinquent?
Answcr-Wth regard 10 delinquent stock, the
company decline giving an account, and Mr. Scott
and Madden do not see the necessity OF it.
6th-llow much stock has been issued by the
company to contractors? Whether or 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.
9TH How much has been issued. full paid, to
parties not living in California; amount issued to
each, and place of residence?
Answer-Company decline allowing abstracts
to be taken
Sth-I1ow much cash has been received in to-
tai and from what source? From stock sale of
first mort gage bonds, sale of county bonds, re-
ccpts Of road, and from loans? and how much has
been expended and for what object, viz salaries,
cost of road, etc?
Answer-It will take too much time. We could
give it to you but it would take too long. Mr..
Scott and Madden do not see the necessity OF
answering the question, and do not require it.
9th--Wh hat salaries are paid and to whom, of
officers of the company?
Answer-Company decline allowing copy of
pay rolls shown, but taken from table as soon as
commenced taking an abstract.
l0th--What amount has been received in gold
for sale Of Placer County Bonds and Sacramento
County Bonds each? TO whom sold aud at what
rates, or do the company still hold them?
Answer - Fifty.one bonds of Placer county
have been sold: twelve bonds were sold at 66S
cents in gold coin; thirty-nine bonds (Pacer
county, were sold October 9th 1868, at IS cents
In greenbacks. Sale made East.
llth-Was or is money still borrowed upon
them? If so. fl ON whom and at what rate of in
terest, whether in gold or greenDacks?