The Placer herald., 1864-11-19

ture, and aS we, oil course, coulu not De 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 ana saved us the trouble and responsible
ity. The report, however, | refused to sign con
sidering it. in many respects. an uniathul record
OF facts. and in its general Framework 4 docu-
nent Of an entirely different nature from the one
reuuircd. Az to the general history OF the Pa
citic Railroad in the bands of It's present energetic
manu GERS sou are doubtless entirely familiar. as
| the pnbiic press from time to time has kept you
H fully advised thereof reeiterationo this. there
\ lore c;A ,,y uc,, useful purpose; but II faith
II lul rcc.id o. the internal management OF the
4 Affairs o. ne company would be OF vast import
4 ance; A. from it, we. who are so 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 informant on.
am constrained to say. fear you can never OBJ
| tain from the present Board Of Directors OF the
| Railroad Company, except perhaps, through Il
| mpulsory legal process Everything that saw
! connected with their mode of management ire
| sisbly forced conviction upon my miud that this
| enterprise, in place of being as it was intended
to be- Il great national enterprise. has degcner-
aed into scheme for the sole advancement Of
the personal or pecuniary interests oil the Drec-
tors and their t;tvorte associates; and that the
interests OF the stockholders and others will be
entirely sacrificed to aggrandize the prolec Ors OF
the undertaking, Now in the apparent pleni-
tude Of their success, they find ii convenient to
refuse information to their stockht tlders 10 com
pliclte and confuse their accounts so as to defy
! examination. Yet the time will arrive when Such
a course will recoil upon them. and he Company.
whose rights have been outrag ged. will deprive
| the Board OF their powers OF further evil. | alb
stain from mtkng any extended comment upon
the answers made by the Directors to the ques
tions they condescenjed to reply to. or upon their
refusal to answer Others. a simple pcrusll OF
them will Suffice to show:
Frst-Tha the Directors will not, and dare
not. show to the stockholders how their moneys
have been expended.
Second-Thai the Directors will not. aud dare
not. show to the stockholders what an cunts 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 dclin-
quency as stockholders.
Fourth That the Directors do not intend to
prosccnte the enterprise to the State line. but
only "a sutfcient distance to "iecd" the Wagon
Road enterprise. owned by portion OF the Board
Of Directors. And, in hne, that the whole con-
Germ is y close corporltion instituted, conducted.
and managed to enrich the Directors and impov-
prSh the stockholders.
| now submit The sal cct to your consideration.
The report OF my associates will in all problbl
ty be laid before you. IT is Tor you to Judge be
tween them. Il you prefer to rely upon the latter
document prepared as verify believe, hy the
directors OIL the COmplhy themselves, DtlUg lne
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 oil consequences have endeavored to ex-
pose scheme rarely exceled in the history OF
corporations. JAMES Il. ROC tRS.
President of the Board OF Supervisors
of Placer County.
| Questions py0pOuideH TO the ottcerS If the Cen
tat Pacific RairOod CompaAy, by James r.
Rogers President Of the Board Of Supervisors
| of Placer C0ujttY:
| lst-H 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 st lockholels aud Mr.. Madden and Scott do not
require II answ red.
. How much sto, k has been issued for other
considerations than cash? To whom and Tor what
object?
Answer Eleven hundred shares to Lombard q
Co, for iron, aud seventy five thousand dollars to
Wason d Co, lor cars.
- How much cash has been received from in
dvdudl subscriptions!
Answel--Four hundred and fourteen thousand
dollars aud fourteen cents.
4.h What is the amount OF the subscription by
the Directors; how much subscribed by each. and
whether or not they have paid C Ish or the same!
AuSwer-C. 2. Huniin ton six hundred and
liy shares; Mark Hopkins. six hundre and fifty
shares; Leland stanford, six hundred and seventy
tive shares; Philip Stanford, six hundl ed aud SIX
ty shares; y. Is. CrOcker ten shares; D. N. Strong
: fifty shares; Q. tr>h. fifty shues; l.. A. Booth
ten shares; l.. Miller, ten shares. Cash has been
received ior the same rs Tar rs paid. Company
refuse to allow list o how much has been paid
! by individual directors, or how much delinquent
5th - How mach individual stock has been sub
z scrbed as toaE How much paid on account o
SANE? How much dellquent stock is Oh the books
: and who is delinquent
$ Answcr-With regard to Delinquent stock, The
company decline giving an account an'i Mr.. Scott
and Madden do not see the necessity ol it.
, 9th How much stock has been issued by the
company to contract tors? Whether or not they
have transfer d ii TO others! Ii so, to whom?
e Answer Two hundred and nIneyseven shares
7 OF stock have been Issued TO contractors.
} 7th - How much has been issued. full paid, tc
parties not living in California; amount issued to
each, and place OF residence?
Auswer--Comptny decline allowing abstracts
I to be taken.
9Th = 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
: ccptS OF road, and from loans? and how much hL
4 been expended aud for what object viz salaries
Il cost OF road, etc9
n Answer-It will take too much time. We couii
e give ii 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 hat salaries are paid and to whom, o.
5 officers OF the company?
Answer Company decline allowing copy Of
pay rolls shown. but ialen from table us soon as
commenced taking an abstract.
lOlh-~What amount has been received in gold
Tor sale Of Placer County Bonds and Sacramento
, County Bonds each? 10 whom sold and at what
rates. or do the company still hold them?
Answer - Fifty Que bonds OF Placer county
} have been sold: twelve bonds were sold at 663
7 cents in gold coin; thrty-nine bonds tPlceI
county were sold October 9th, 1868, at 95 cents
N yrupnhtrEs Stln " m dp H. ST
llth-Was or is money still borrowed upon
them? II so. fl ON whom and at what rate OF in
2 tcrest. whether in gold or greenbacks?
Answer Governor Stanford has borrowed mo
ney upon Placer county bonds. but the company
are not Informed from whom hut suppose the in
e tercst to be ten per cent. With regard to Sacra
l mento county bonds. they are under tho coniro
e ct the President OF the company, and at present