The Placer herald., 1864-11-26


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
i firmly believe, kindly took that duty on them
selves. and saved us the trouble and responsible
itv The report however, | refused to sign con-
sderng it. in many respects an unlaithlul record
OF facts, and in its general frame work 4 docu-
ment OF an entirely different nature from the one
required. As to the general history Of the Pa
cc r lroad in the hands of its present energetic
managers, you are doubtless entirely familiar rs
the public press from time to time has kept you
fully advised thereof A reeieratonoi this there
tore. can advance no useful purpose: but a faith
lul record 0i he internal management Of the
afajti OF ne company would be OF vast import
ancc: ~ from it. we. who are so deeply interest
ed ia 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
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 it was intended
to be- a great national enterprise. has degener-
ated into Il scheme for he sole advancement of
the personal or pecuniary interests OF the Direc-
tors and their ilvorite associates; and that the
interests of the stockholders and others will be
entirely sacrificed to aggrandizc the projectors of
the undertaking, Now. in the apparent plen-
tude OF their success, they find it convenient to
refuse information to their stockhO lders to com
plicate and confuse their accounts so as to defy
examination. Yet the time will arrive when such
a course will recoi 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 mttle by the Directors to the ques.
tions they condesccned to reply to. 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 -Tbat the Directors will not aud dare
not. show to the stockholders what an cunts 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 deln
quency as stockholders.
Fourth That the Directors do not intend to
prosecute the enterprise to the State line but
only sufficient distance TO 'ecd" the Wagon
Road en- erprise, owned hy portion OF the Board
of Directors. And, in fine, that the whole con-
cern is y close corporation, instituted, conducted.
and managed to enrich the Directors and mpov
crish the stockholders.
now submit the subject to your consideration.
The report OF my associates will in all prohlbil-
ity be laid before you. 1t is for you to udge 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 cndeavored to eX-
pose scheme rarely eXcelled in the history OF
corporations. JAMES K. ROC tRS.
President OF the Board OF Supervisors
of Placer County.
Questions ptopounded to The officers IF the Cen
hGi Pacific Raiir0ad C0mpany, bu 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.. NJ ,dden and Scott do not
require it anSw red.
2-Iiow much stock has been issued for other
considerations than cash? To whom and Tor what
object?
Answer Eleven hundred shares to Lombard q
Co.. for iron, and seventy five thousand dollars to
Wason & Co.. lOr cars.
How much cash has been received from in
diyldual subscriptions?
AUswer--Four hundred and fourteen thousand
dollars and fourteen cents.
4th - What is the amount Of the subscr ption by
the Directors; how much subscribed by each, and
whether OF not they have PAID cash Tor the sinc?
Answered.. p. lIuntin ton six hundred and
fifty shares; Mark HOpllin Ms. six hundrc Nnd fifty
shares; Leland Stanford. six hupdred and seventy
five shares; Philip Stanford, six huudl ed and SIX
ty shares; E. i. Croker ten shares; ID. NJ. Strong
iity shares;C c. Marsh tf shares; L. A. Booth
ten shares Z. Miller. ten shares. Cash has been
received tor the same as tar AS paid. Company
refuse 10 allow list OF how mach has been paid
10y individual directors. or how much delinquent.
5th How much indiv dual stock has been sub
scrbed as d total? How much paid on account OF
sam? How much dellquent stock is on the books
and who is delinquent?
Answer-Wth regard to delinquent stock, The
company decline giving an account, and Mr.. Scott
aud Madden do not see the necessity OF it,
9Th How much stock has been issued by the
company to contrac ors? Whether or not they
have Transferred it to Others? II so, to whom?
Answer Two hundred and ninety-seyen 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 - low 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 aud for what object, viz: salaries,
cost oil road etc?
Answer-It Ii will take too much time. We could
give ii 10 you but it would take too long. Mr.
Scott and Madden do not see the necessity ol
""o"ci NJ Vne qher''oi anu uo "oV require it' .
9th--N hat salaries are paid and to whom, OF
officers Of the company?
Answer--Company decline allowing copy OF
pay rolls shown, but taken IRON table as soon
| commenced taking an abstract.
l0lh--Whtt amount has been received in gold
Tor sale OF Placer County Bonds and Sacramento
County Bonds each? TO whom sold and at what
rates, OF do the company still hold them?
Answer - Fllty'one bonds OF Placer county
have been sold: twelve bonds were sold at 663
cents in gold coin; thirty-nine bonds (Placer
county, were sold October 9th, 1863 at 95 cents
in greenbacks Sale WAS made East.
lith-Ne,s or is money still borrowed upon
them? II so. tlom whom and at what rate Of in
terest. whether in gold or greenbacks?
Answer-Governor Stanford has borrowed mo-
ncy 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 under the control