The New York herald., 1872-12-23

Schell at his residence, "a West Twenty-nrst
street. yesterday morning for the purpose OF learn
ing his views OF the threatened suit by the Union
Pacific Railroad Company upon the Credit Mobllier,
which rumored suit has grown out OF the revelar
tions made In the HERALD OF Saturday.
Fortunately Mr.. Schen was In and greeted the
reporter very frankly. He was seated before a
blazing req fire In the cosiest OF paiiors and ap-
pcared to be in just that humor when the heart
opens to kindly emotions At the mention OF
Credit Mobilier he became very wide awake in
deed, and abandoned his dolce Jar nte7ate position
to resume one OF more earnestness and interest.
II understand,n said the reporter, "that you,
Mr.. Schel interested In some suit that is to be
brought against the Credit Mobiner What truth
may there be In this rumor ~
"As far as am concerned 1t is not true an. an.
swered Mr.. ScheN. "lf, as the HERALD yesterday
stated, $4,000, 600 had been robbed by the Credit
Mobilier, all OF which rightiuly
BELONGED TO THE UNION PACIFIC
consider It one OF the most gigantic frauds on
record. am OF opinion that every cent OF this
m ana 9%d DC na But
sonally not make any attempt to fight the Credit
Mobiler. l have been in six or seven such fights
before and am tired OF them.n
REPORrER-But have you any reason to believe
that suit will be brought against the Credit Mo-
Mr.. RICHARD ScHELL-Oh know there win.
was talking to q gentleman yesterday down In
Broad street, who told me that he was gong to
know by the temper OF the man that what he says
he VIII do. myself said openly IN Broad street
ta5 me IN ~ INV were
owners. can only see that the whole object OF
THE ESTABLISHMENT OF THE CREDIT MoBiLIER
earnings. The idea OF one company c0olly appro-
pratng to itself the assets Of another Is something
that beats ANYTHING have ever seen In the history
REPoRTER-Is the suit ofwhich you speak about to
be commenced by the officers Of the Union PacillcY
ID Ala.
they will do anything in their Official capacity 1t
will be by some one individual, who may be sup
y Gr may n1 nat 5s sS
ing on this matter as, you know my brother is one
ofthe directors OF the Union Pacific; and many
which may be brought in this way. But this would
be q mistake. ! have no idea what my brothers.
intentions are in the matter, and ! certainly have
trely separate in all business affairs. must con-
less, however. that when read the account in the
HERALD yesterday l was ast0unded. Ii was GER
tainy splendid 'beat," as newspaper men call 1t,
and made
ONE OF THE MOST DECIDED SENSATIONS
ever saw In the street. The amount involved
and the character OF the men interested made it
hit right and lett Otherwise than the general n.
assure you shall do nothing IA the way Of suing
'''R REroRrrRMHavc Won auv s,ason 70 believe that
any action has been taken tsaus far :
Mr. RICHARD ScHELIe-i should hardly think 80,
though understood % the gentleman S who told me, me
upon those whose names were mentioned in the
HERALD in the tabular list published. The
only thing to look at is that the Credit
Mobilier Railroad is accused OF having got
eighteen millions OF the money rightfully belonging
to the Union Pacific Railroad The best way OF
proving this Is to begin suit immediately, and then
what remains secret yet-that is, the manner in
which the fraud was perpetrated-will perhaps
come to light and will, no doubt, make q very In
teresting chapter in our financial history. But
there is another matter just now which begins to
interest us almost as much as Credit Mobiier In
Wall street. You perhaps noticed that, Q short
time since, Mr.. Fernando Wood introduced
RESOLUTION IN CONGRESS s4FH,
demanding an investigation into the manner In
which money was lent In Wall street and the rates
viii be the effect OF this Simply that ali the
money made by frms in Wall street over and above
the legal rate OF interest will 60 to the poor OF the
city. And you have no idea OF the rascalties and
robberes which will be then brought to light the
names OF high people who win be implicated.
send boys down into the street to bid for money
and send up the rate Of interest, thus bidding
against themselves but when the rate is thus
forced up lending money at usuriOus interest.
The beauty Of the law Is that IL enables the nvessl
eating committee to Mu0E ssee
80 that there shall be no means OF escaping the
punishment. BY law, you know, the penalty for
charging illegal rate Of interest Is that all the
money made by 1t ID to 90 directly to the poor and
have expectation and every hope that such win
be the result OF an investigation into this most
corrupt Of practices"
Mr.. Richard Schell was then silent for few mo-
ments ana the reporter rose to 90. Mr.. Schen aC-
companied him to the door saying
'"Ehat is my opinion, that every cent Of that
thereon. It's gigantic fraud. Good day; glad to
have met vOu.D