Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1869-07-22

Gathered their nests. The Union Pacific
company own from Omaha to Promontory,
lcl miles, and Is New York organiza-
ion disposed to be reasonable toward the
public.
The Central Pacific owns from Prsmon-
tory 10 Sacramento. 800 miles. Through
th~ Western Pacitic-a separate organiza-
ton. but controlled by the same men, /.
also building from Sacramento to Oakland
seven miles across the bay from San Fran
CISCO. l35 miles. This will give IL So
miles OF track. not couating the disputed
section.
Ex-Governor Leland Stanford. c. L.
Huntington, Mark Hopkins, Charles Crock
or and +. Il. Croker, all OF Sacramento.
and one other person whose name u I'M |
known to me. are In fact the company
These six gentlemen virtually own and |
wholly control the great franchise. Prac-
tically a partnership rath. than corpor-
alton. they have managed business with the
shrewiness, u2ality aud vigilance which
careful men bring q their private affairs. =
On the plea that they were poor In Cali
fornia. and wanted TO build "a little road
At the end OF the long line, they got their
company included In the original act upon
equal terms with the Union Pacific. II
any Congressman were 'seen." IL was prob
ably not their money which pail for tina
optical attention. They build the road
themselves. without the intervention Of
contractors or other IN idle mcn. They
hired Cinnamon at from $50 tn 70 per
month, gold. while the Eastern company
paid some OF its laborers As high a 81 pr
lay. The Central sometimes employed
IL 900 men aud the Union Is 900. so the
| advantage in this item alone s~elled %
| many millions.
when the Central people were sellin
| their bonus In New YORK At the rate OF hun
| dreds OF tnsus ,nds dollars per day. they
ssed TO send forward each monthly report of
| the earnings OF their road by mall for Three
| cents instead OF spending $50 to transmit It
| ny telegraph. Remaining free irom tn.
| Internal qsarrels and wr.tched scandals OF
the other company. they always kept the
| prices OF their bonds from two 10 tive per
cent The higher. The Union Pacific advsr-
Using agent-who did his WORK upon \
commisson--has since built brown stone
house on Filth avenue; but Know Of no
subordinate In the Central Pacific who has
erected even a suburban cottage
The endowment OF the entral i uupar-
| Allcled In financial history. For hundreds
aud hundreds OF miles. as easy 10 build as
| the flttc VALLEY portion Of the Union Pa
| clffic upon which only sls 900 per mile II
| Government bonds we're receiycsiO Il man
aged to obtain $50 600. Each company
| was authorized 10 issue it. own first mort
gage bonds tor an additional amount per
| mile equaling the subsidy, 50 thl. llf- renee
| mnst be doubled.
Thus tn. Central received sl7 .O0O more
| per mile. or sl2 600 900 NOR. for ts en-
tire go miles. than did the Union Tor the
same length OF track and It's road milo
mill. trh. hs-r
Commissioners had cost little, II any more
than the Union Pacific. Nor i this all
The Central obtained further donations of
| 1000 from san Francisco, 500 900 from
| California. 30 acres OF land valued AZ 500
900 In the heart of Sacramento. and heavy
subscriptions from several interior coun.
ties, all in gold. Nobody ever received
such munitcent gii,s except the Young
vagabond Aladdin and Edmund Dante.
the Count OF Monte Christie. None Of the
five Sacramentosus were rich at the out
set. though Stanford. Huntington and Hop
kins we're IN easy cireunst Now
one who has re.Iovcd TO New York owns 4
magnificent uptown residence and NJ.
private stables ARE like first class dwell
Inc. Another who remains Ia Sacramento.
illustrates admirably What til. road has
done for then.-t' pom one corner of hi.
| large lot - a frame cottage a story and 4
half high, which probably cost 200
tasteful, cosy liule home covered Wit
trees. vines. and flowers. but very humbl e
inits pretenuons.-There The owner had
| lived Tor years whea the company orgau-
izcd. Now, In the center of the san,e To-,
he has nearly completed a new residence
which looks like the greatest marble fort.
iesrion on Filth asenue.-Ii might b. u.i>-
| taken for an opera house or coliseum for a
| Peace Jubilee. IL ~ ii5 feet LON. and
though frame building, will cost nearly
500 900 In gold. IL fairly challenge. the
passer-by. Look upon this picture. and
| on this ~
One who thinks he knows assures me
| that the six owners OF the Central have
divided sso.oO.oc0 in profits upon con-
| struetion ms - no exaggsratlou. Count
ihg the hrst mortgage bonds not yet out,
but available at any moment, as the Law
authorizes their issue. their surplus ON
construction may be moderately estimated
at $4,000. In addition to this stapendous
| ac' Emulation, they owr the land grant
| which possesse. considerable value. and
| nearly all the stock Of the compauv
amounting TO $1,000. 900 or sll go .ODO
already subscribed. and susceptible of in
crease. under the law, 10 Sl00. O0O. 900 II
| The line becomes remuneratiye ii will IN Ike
| them SIX OF the richest men on the CONT
| nent.
| Nobody objects to this They went into
the enterprise when few people believed
IN H. They siakei their every dollar upon
| II, before they corld receive any govern
| meat subsidy. and when money Ia Cali
fornia sometimes commanded three per
eest month. There were periods when
they hardly knew where TO 20 for a hun
dred dolaEs. In starting up the Sierras
which are really very formidable, and look
hundred times more difficult than they
are. they showed q daring which would
nave been waadeefulin a corporation. and
which 40 conservative business men was
almost miraculous. They alone had faitl.
at the unpromising seed-time: thew are
fairly entitled 20 the rich harvest.
But there are just two practical ares-
ton, which apply equally. to them aud to
the Union Pacific
l.. Have they kept faith with the Gov
eminent? have they built and are they
composing such road as they agreed To,
In geaeral terms. Yes.
III. Now that their line is open. are thew
operating it with reasonable fairness and
hberality toward the publics This question
Is less easy to answer. But 1t Is one of The |
utmost importance. for they now have
much Of CALIFORNIA; aud all Of Nevada In |
their power. and they are graspny every |
new line, and proposes to own and control |
The entire railway system OF the Pacific |
Coast.
The Central Is already theirs They are
building road north from Sacramento TO |
Oregon. Its immediate business will not
he heavy. but Its land grant Is worth more
than the entire work will cost. And that
Is the route by which Northern Pacific
road. from Minnesota to Puget Sound.
must connect with San francisco. They
own franc ise. too. covering the 81 n
Joaquin Valley, which Southern CONT
neital line must inevitably follow 10 this
city. We are sure to have three Pacific
railways and these six men seek to ows the
California ends Of all Of them. Ii they
succeed e Will Be monopoly unmatched
on the globe. Its little finger can be made
thicker than the loins Of Camden and
4 mboy.