The New York herald., 1872-12-22

| Salvador earnestly Cuban independence will
not be long deferred, whether Spain comedies
| it or not.
A Bombshcn in tho Credit HIobiIier
Camp-ResponsibiIit OF Railroad
Directors.
The publication of the List of stockholders
of the Credit Mobilier in the HEKALD yester-
day fell like bombshell in the camp of the
magnificent and mysterious 'ring" whose
operations have recently been SO prominently
before the world Heretofore the Credit
Mobilier has partaken of the character of the
Venetian Council of Ten-dark, secret and
incomprehensible. As the workings Of the
Council were unknown until the bodies of
conspirators were discovered at daylight dan
Cling in the square of st. Marc, SO the doings
of the Credit Mobilier have been a mystery
until the innocent stockholders of the Union
Pacific Railroad have found themselves i'm
molated as victims on the shrine of the inner
ring, by means Of extraordinary legislation in
! Congress- Everybody has been inquiring,
Who are the Credit Mobilier2 No answer
has been forthcoming, because the records Of
the concern have been a sealed book, into
which none but the favored have been suffered
to pry. No wonder that the appearance of the
list in the HERALD should have created an in
tense sensation, and led to important results.
The present shareholders in the Union
Pacific Railroad Company who are the inno-
cent and bona tde successors of the original
'sring," now learn, for the first time, the ex-
tent to which that company has been victim
the names of the parties who have, as the
present stockholders claim, robbed the cor
poration for their own enrichment They
have determined to move in the matter
and to compel restitution. With the evi-
dence supplied by the HERALD in their pos
session they will direct their President, Mr..
Horace +. Clark, to institute q suit against
those who divided the plunder for eighteen
million dollars, or upwards, which they claim
has been virtually stolen from the treasury of
the Union Pacific, and shared between the
conspirators This will cause futter among
the persons whose names were published in
our list, as well as among those who stand
ruptions The suit WILL no doubt, compel
full development of all the facts for Cakes
Ames will be principal defendant, and when
his fortune is at stake he will not be willing to
stand in the capacity of ''trustee' before the
parties whose interests he represents.
The recent settlement made between Mr.
Jay Gould and the Erie Railroad forms an en-
ceSraging precedent for the action proposed
by the Union Pacific Railroad stockholders. If
the ex-President of the Erie Railroad found it
desirable to restore nine millions to Erie, the
Credit Mobilier will be likely to find it dis
Greet to restore eighteen millions to the Union
Pacific. Indeed, there are those who believe
that the Erie Railroad Company were guilty of
an offence in compromising the suit against
the old direction Of that road, and insist that
the matter should have gone before the Courts
in order to test the extent of the responsibility,
both morally andfnancially, of those who ex-
ceed their powers or commit illegal acts in
their fducary capacity. The prosecutors of
the Union Pacific Railroad suit against the
Credit Mobilier ''ring" can avoid this error,
and, while insuring the return of the money
dishonesty taken from the former company,
can test the criminal responsibility Of those
they charge with having robbed, them. The
developments will excite great sensation in
financial circles, and will embrace some of
our leading fnanciers as well as many Of our
most prominent politicians in their scope. If
the suit shall serve to bring the whole secret
history of the Credit Mobilier to the light
of day it will be good thing for the
country.