The Placer herald., 1864-11-12

| IrOW meWOTy ulOuc W pICpNiC IL, nOuc ouC, VI
perhaps more, of the officers of the company, as
| / firmly believe, kindly took that duty on them
selves and saved us the trouble and responsible
ity. The report, however, l refused to sign, con-
sidering it, in many respects an untaithful record
OF facts, and in its general framework docu-
ment Of 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 aGvs, d thereof A reeiterationot this, there
| fore can ,'iy,nce useful purpose; but d faith
! full record oi the internal management Of the
affairs of the company would be of vast import
ance; 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 a
compulsory legal process. Everything that saw
connected with their mode of management ire.
sistibly forced conviction upon my mind that this
enterprise, in place OF being rs it was intended
to be, great national enterprise. has degener
ated into scheme for the sole advancement of
the personal or pecuniary interests of the Drec-
| tors and their favorite 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
plicate and confuse their accounts so az to defy
examination. Yet the time will arrive when such
a course will recOil 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-
tons they condescenled to reply to. or upon their
refusal to answ er Others A 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-
qusites.
Third That the Directors will not. and dare
not. show the stockholders the exact position Of
the affairs of the Company or their own den-
Quency as stock dcrs.
Fourth That the Directors do not intend to
prosecute the enterprise to the State line but
only il sufficient distance to "teed" the Wagon
Road enterprise, owned by portion of the Board
of Directors. And, in finc, that the whole con-
Germ is close corporation, instituted, conducted,
and managed to enrich the Directors and impov-
erish the stockholders
now submit the subject to your consideration.
The report OF my associates will. in all probabil-
ity, be laid before you 1t is for you to ud ge 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 | am content-I shall have discharged my
whole duty towards you-and without prejudice
or fear of consequences, have endeavored to ex-
corporations. JAMES R. ROGERS,
President of the Board OF Supervisors
of Placer County
Questions propounded to the officers Of the Cen
hal Pacific Railroad Company, by James II.
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 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 ausw red.
2-How much stock has been issued for other
considerations than cash? To whom and for what
object!
Answer-Eleven hundred shares to Lombard &
Co., for iron, and seventyfve 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.
4th 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. Huntin'ton 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
ty shares; E. b. Crocker, ten shares; d. NJ Strong
fifty shares;C. Marsh. fifty shares; l.. A. Booth,
ten shares; e. Miller, ten shares. Cash has been
received for the same as far rs paid. Company
refuse to allow u list of how much has been paid
by individual directors, or how much delinquent.
5th-How much vdual stock has been sub
scribed as total? How much paid on account of
same! How much dequent stock is on the books
and who is delinquent!
tn Ipl or thn
company decline giving an account and Mr.. Scott
and Madden do not see the necessity Of it.
6th-how 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.
7th-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-How much cash has been received in to-
tai, and from what source? From stock, sale of
first mortgage bonds sale of county bonds, re-
cepts 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 il to you but il would take too long. Mr..
Scott and Madden do not see the necessity of
answering the question, and do not require il.
9th--Wbat 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.
lOth--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 were sold at 663
cents in gold coin; thirty-nine bonds (Placcr
Wy uo1I Of
in greenbacks. Sale was made East.
llth-Was or is money still borrowed upon
them! If 80. ftom whom and at what rate of in
terest. whether in gold or greenbacks?
ACKNOWLEDGEMENTS Stanford has borrowed mo- |
ney upon Placer county bonds, but the company |
are not informed from whom: but suppose the in
tercst to be ten per cent. With regard to Sacra-
mento county bonds, they are under the control
OF the President OF the company, and ut present
we cannot give you any Information