Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-12-24
e. e. e. -
a Money and Railroad COmbi-
nation.
The Credit EgObiIIeF and the Pa
cific Railroad.
A Big and a Cool Thing-Sot on
Ice Either.

From the Washington Evening Express OF sat
urday.
The character and schemes Of the cor
pOTstors Of the Union Pacific Railroad
develop daily, and each development
shows the uuscrupulous character Of the
combination that controls the road. and
should prove S warning to The "powaEs
that be" against their plottines, and
those of their paid agents, to take ad-
vantage OF the Government. We have
again and again exposed these schemes,
but thus far through their boasted infiu-
ence they have been listened to with
deaf eGT, and have won their way ia
spite Of all representations. They may
continue to do SO if these whose duty il
is to protect the public interests still close
their eyes to the proofs OF corruption
daily submitted.
The Credit Mobilier is one of the
schemes for swindling the boDdholders
and stockholders, and for filing the poek-
cts OF the oOrporatoTs. We ask attention
TO the following, which appears in the
New York Herald OF yesI IerdsY. What
reliance should be r. -esd upon the men
connected with this scheme?
SUPREME COURT eHAMRERs.
James Fisk, JT., as 7ae Union Pacific
Railroad company aaa the Credit No
6itisr Of AH1eTioG.-This action, it will
be remembered, was commenced in July
last, the plaintiff, who claims to be 3
stockholder of The Union Pacific Rail-
road Company, alleging that the Credit
Moblier was corporation created un-
der the laws OF Pennsylvania that its
corporators were mainly the directors OF
the railroad company; that it was sort
OF close corporation and that the Union
Pacific Railroad Company had con-
tTaeted with said Credit Mobilier for the
construction OF large portion of It's road
st certain rates per mile that sU5h rates
were excessive, and would result ia Iarxe
profits to the stockholders and others fTis
terested in the Credit Mobilier, and thsts
the railroad company was not authorized
to make such contracts; but that, on the
contrary, by performing the work itsalf,
the large profits which the Credit M
bllier derived from the work would &C
crue to the railroad company and result
to the benefit of its stOekh 0ldsrs. He
further charged that the Organization OF
the Credit Mobilier was collusive, and
that the arrangements between the two
corporations were fraudulent, and made
for the benefit of the ccrpOrators. An
injunction was granted epjoiDing the
completion Of any existing, or the MAX
ing Of any further contracts, and re-
strsining the payment of bonds to the
Credit M0bilier by the railroad company.
An accounting was also prayed for.
Yesterday the case came before this
Court On motion by the defendant, the
railroad company, for the removal Of the
cause to the United States Courts, under
the act OF Congress of July last, in refer
encs TO the Union Pacific Railroad Con- !
pany. It was opposed on the ground,
substantially, that the course OF action
implicated both defendants c)Dj unity in
a series of transactions which prevented
any separation of the snbject-mattsr Of (
the complaint. 1t wss further CLAIMED
that IN any event the other defendant
was not entitled to reTa0vai, and both |
must stand together.
Decision reserved.
We warn the people again that some I
OF these men are the ssEas who, in the 4
case of the Mississippi and Missouri rail- I
road, iee0sd the Q5veFnmeAt OF 1,6dG, /
600 Sefes OF land, granted to the road BY /
Congress, AMI the friends OF that road I
out o! thousands that they were indneed 4
TO invest Ia its stock by their favera6Ie +
just as they sre now try +
ing to induce good people 20 psrt with I
their money for the fiFat mortgage bonds /
aud We suppose the stoek also, Of the 1
Uaion Pacific, That Mississippi and
affair is yet unsettled, and We
shall take theesr;iest opportunity to eX
pose it fully, SO that Congress and the
people may see how easily bold, u1spTu-
pul6us and bsd men may win upon their
confidence only TO betray it In the most
Infamous manner st the first opporta-
nifty. q