, 1869-05-07
TIE SIOUX CITY AND PACIFIC
RAILROAD.
How the Company ygas Formed
Claims Of a S9ockhofdcr.

PFo'n tie Sfs Fork Journal II Commerce. NayA
SurHEME couKr, SPECIAL Txax~-EIers Mr.
.Ja.tiee Rgn1rd, 4ay yA7cAar1. 4. LanhaId a7atn-t
John I. 6tair 1nd otaevA-The plAlnu6 asks to
have himself declared to At LEAST one-n,ntn, and
possibly one sixth, ol the Il, ,ooA,o on atock OF the
ng q Psa Gaea e,f2 s
vi. Crocker. the President Of the Cedar RAris
railroad Company, were in Warrington, not In :
'ps p.se j. q I'll as
I.aliaay. should aid :hem il extending tae cedar
understood hat vst.oas Inte,sss were to be e con-.
suited, among them three os the Iowa Congress-
,1 men, md = tn:5 nna!ly eame 70 % understanding
shaEe n the scheme Congress ultimately amend-
ed the Union Pacific Rzllrpaa bu - Is 70 acconu-
Plsn tae!s pTrpose and tnefs ' .ssc then con
signing Of artscies Of incorporation sn1 ne sub
Ths essese Vas .; staua M t iii lssa s. i's when Il
Mna asEanscd that ~: Batr IS Pfrat!ens Of the
.9Hs q, &c SontIaennE E e. Gop@ny, saoun mhsI.oe
ill., Iamos1d. snoaid subscribe si1o,ooa. si ii isss
Mr. Lanhard vent 70 Europa and arranged with
before he vent, After this, t2.ooo, no more Of
mock Nas suhscthe,1, and Nj. Laatard called ou
ea t. e. stfs s; R r. qnnSn Of r.
Mr. D1tT refused to DO 81 The government
granted aid to the extent Of t1s,ooo per mile, and
IambaI thinks the romTany ,nuss have about
ssue, ,uno on hand for dStz1haron- He nas received
one-tWcith OF the stock allotted to thu Canstsuc-
subscribed at ihe kame time nnd the urM $1,000
Hunser1ptnl. II III $lp1, 900 OF stock hut he claus
one-uinih Of the Liter = ~. eco Endcr the orlGt
nal Arrangement and Ar. Batrs promise TO pr1-
ment
The engineer Of the read stated that it was now
N running croer- There were, tocludtag some
1unctloEz iOGh niles Of gpad, but the Cnttcd
ssstes had alleEed them hut lo1;.s miles tie
sass 81 pot tsa esnT ILL., sa s ' a
states Commissioner had held that S;V1, ,ooo must
be expended before tho road was property com
pletetl he bad r.omttted rpon nx1ns the coat
Of the rpad At T. a6s u, but that estimate lnclud
Cd btidge orrr the Mississippi estistat7i nj H.
doe to tseoeo pcs miIe to cons1ac, snd eSaip, ssy
need Of 4oooo xo.rh Of additional sollng stock,
round houses which woaid cost 3saoo0, Ecam-
boata IN pisce Ct she bridge por which they had
"a e1sE kss SepI proshy 1a nua,a c
the law required tnem to haliaH the sosa with
mica wouu cost S'od ooa, aud to substitute stone
pien where the PIER: wste now rood: this would
tended 10 ballast whh stone. The de1e1ency Of
I1eo go reported X shs ,Gni.ed sssses conn!s-
John I. EI&lr testified that he tnew nothing of
any Arrangement about ntnths, though really nine
nru hsd signed TIC atftcies and nine h2d made the
nrst subscription Of :. .o@ each; tacrr had oeea
great deal Of t!k Abaat the tine Of the Paxsae Of
amendment but no real agreement; in the later
part Of 1858 he had become rather disguised II tue
sa srt sa "a sos Il &c
thea sanserbed slnaoo6 ior 1imself. md rid eoa
The purpose ufnaking Areport 10 Con21eA4, but At
&c sas1e tine they EHe bana fdk; he considered
1a mmself I'd d NJ. Y Amea wno ne koev vonld adopt
he had = conversation in New ToFk It which Nj
Lalnbsrd wRa present, though he {Blsi harlly took
os MI of 1s.s :. sot oes e
lows and tSere saoseaned hoos.ee5 for the iors
saa tes ssa,e ssneaat fof alsi IL. Anes, M aad ae
thought for MI. LArnbaEd and some others zi1n n
- nh n e tse a & M .s 70
port to the government that r. 900 ooo Of Euhscr1p
ne1s ~ osen 1aae s.9 es1e, 90 wsS Eos ns
TO ne solvency oi soue meneers: In 5aet CHekeE,
| and one, i not Two otaess nxd s1sgetsd that
called On lie W steek i he IL pstd up ID d. own
aAsessment. He dld not rcmetaees tae s1aet :
be Knew that he tvtness3 had only Intended 70 say
th.s Mr. 1Arnhard shc1ld not on any technical
tasa % who had sassroed: s % airaout raaoey . nste
aea q resren,ieiity fn y. I'D d PROPOSED e ias
and % they hal T reieEh It q Il. =.
ecu,&e Cornnitlee. Ths Exne1.tIe Cu1nn1tttee
| consisted Of rve, liz. La1ahard being one. VII.
1eas had 3, once opened me boots fur the ntw
subscription Of Il, oc6, ,on- Toele had bee7 no for
mA meeting Of the Executive CaMmlitee auihor-
txlug II, brt witness had. ncted IN accudance Win
| the SeneEA 1ee!tn4 uf the meeting. &c had r.
eaiye1 Got2e leiaH, or cnpteA a{ Esse9, from MI.
LamhaYu or ht9 dGt, or from NJ. WllA1nA, u
Nj. LamberdB AGENT den1Andi1G Khe prfEde2e Of
subscription. nrt ttd taEe1 10 notes os them, as
: he Md NOT c71rtztr Mr. l1mhA1d reSponEoae
pe,Bup Thur had hesa 10 formal meeting al the
| Etecuttse Committee to close the pookk. Af:ee
he SUBSCRIPTION was tlIsd he hid kept the books
! OPEN only 70 allow transtea and The eo!npletnn
| q pavNeQcz bJ subsrubeEA W!tneas bad. during
| Nj. 4uhatIs ahsencc, tAkEn bat -, 900 of ktock
tEaH OF tha stock subscribed bI the Constr 1etio1
tompt1Jl and MI. .ADaa h3d taken $laa.1o1 OF the
ZANE stoek the other 1000 being tAkcu BY mi.
| oUs persons. He would hare been Wiling enough
TO naya given HI. IA1,taard his ons-utnsn Of soA,
- 9oo bot for the charges be had pTeteHed AgAtns
ntm, Witness hkd now about $s0l 900 Of the iuuts
Of he oompany-Abous X, ,oo0 eAsh, about rs no(
Cn1ed st1tes bonda. ~, 600 IN note Of JessupS
and tlaAepo IN rsote Of ANes'. The company
! h4d not yet ME1ed their MT nepste1xo bonds
| They were printed. He did not know that ther,
vas any ldea u dividing these bonds among III
| stockholders He kneX soms of them we1e h1n
g1y. but there Has good deal to be done on -
| Toad. They might Ntn h11M tic bridge IN
| Cn3red St1te1 CummtastmAe md called ior roo,
mo tur:nsr expeutssUN NVntQe that nc ~