Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1873-02-26
7HAs c. MORSE. EDITOR.
bsas 1sSfs, sE,lnfhth 5,Is7S.
-Tbc Wilson Committee made a re

port on lhurday. sifahing 81 the iioNH
contract. the comu'ilieo s7ylga iylcge
Of the Union Pacific ComI any were utter
IL disrcgarlcd. The COMPLETES do not
dOuo, rha, it MIJsAsirstely dolc.
They d,aw the conclusion. speaking in
rbViuGplFtsS fzn the facts asseriained
that the cost ofthc road was $50. 600 600,
which was wholly Reimbursed from the
proceeds Of Government bonds aud first
mortgage bonds, and that from the stock.
hsl SsaSt SOC ndfhsfs.Fm sNs
/ the builders received ia cash value az
least s28, 900, coo, as profit, being about
IS per ccui. on the entire cost Of the
road.
e'The tSShmiffse .htN TifeFcht amOab's
received o. various parties, aud say; II
it was impossible 70 build The ROAD ht-
oording to the atebf Con 4tcss, they had
rs tiaskito htaild0 4. bFiey could easily
have tSpdife'f 'hcir diftieuity to 6ugfess.
which has dealt sfPeF0ns!y with them
froa thesbeguips-5 4,way be that all
Existing sioekh51acrs shared ticsc'Prcf's.
SO thai what vas ~ fern a contract WA
in substance dlvtiend,s but holRing -
better sctH sAsih,in thai "a railroad eorpol.
alton has as 10 .fiahf.- as against it.
creditors or u minority of its stockholders
to distribute any pcrion Of It's capital n
dividends, and that Court of Equity
will interfere to prevent it; there can be
less OBSERVATION-DISCLOSURES elUsescdsJui
i money BORROWED. either of the Govenr
.mont OF ssSS.a fi i.a la ase bS,l;' Eqf The
.purpo g. .l.lailgul. s '.,,' ,i',.o.4
The Gpqwisoa deuol cPnsifef il tobc
sthcir ,ioty 10 .cxprcss eutodorms an oPin.
ionsassio tie degis. 81 moral Blame that
attaches 70 beisqitsdSsssf.Iht 80 cans
aGlsns, except so4t 7r+'1 ,Isr right SqI
affec. the exercise ofthe discretion # Con-
gress in dealing with their franchise.
The report concludes as follows: We
have a case .of a corporation which is a
trustee in the mapagementPf persons Sho
have divided the trust funds among th9R-
.seKes, svhe'hateppomiscd iolsy,ier7ils
scaritai stock,iiG casa Which. Iropjae .lhey
have 4aiot'GePs aud on WHICH. ta&RR arc
ssatiifimbfiec sand which t sSt i.Si65IPorAid
neeiects-;o cuiofcc,.' aid who have 'lhSje
contracts with themselves in reference TO
the mast find, Tie ffoa,sJof. , W. 'aeon,
ractsthey Ga yhtip eqatNaqeount Jor to
saie tsagf9uhd. fUfhis fhe most simple
-priacplesoflyegHlyia. sui eppishei maln'
,taiuef4hy lsny. tes2mi qaeittp to compel
the collect lob of ltl,ase asssls,s iaqd ibat
FSeTiaistets setll 4iotfihem hereafter as
80 pant Of tine rus, prpneFiy,gauL t,l,r5
%, 1t WIFI nc no'huswer TO this, statcn,cnt
tossyI that hadultimatss Sespity aof The
iUdi4ed states has net ubeen ''imrh'red.
This is far from being true and ip ifqctif
IT weEsb rhe tho peite,l 7states'sw6ul ID
have -riglfulaakas thc security which
they stipulated iori ,eycaTF il te mPFe
than is II cessaty FOwt'ar5 = 9iSag lin
thu, opil66a, fhcrelis,n5l reneay except
jby lresossing. \ 20 itAs'Axt&me, power of re-
pealids thysaet!. tArhosc 4tesaans iirc ja-
neutrality-suspicious. sCAsS WEI haso saits'f~e
propose simple rnstlndqof Graislng aud
determiniag t0an1'tone suit; of secur,
llnls., 60 rsyffs @c1ean, the, ,,adqkniSStraiop
of, the, fund sc.oislinr tosthsa taw III the
s,.tphffdw ,ksiss fast vfav sdi z5i sWx 81
tuiare.sBp taesss 81, .nU1 7rrI ehi ~ 'Tl Esds
,.llFhs Committee +itaep end that ahsGe arc
;u sF ssspSqtisa5s,taasE ggtbaatha Credit
Msbi!jsr 9olaiHg s,helaqS IA ss,,ttre cor
tew9lstcd by tie .9rsler ofaithco House
rSsS;'a 'ffs si sit 4A sbteie sg9
fibI#4 Rk valde-bstaiA Procure I bHe b,
same ilegaI'y3MafMh0 not recommend
that Ii ted States rslpRSe1 ttop Ply y 'hsfS
bOds 5 sle sSr 1E EsssSp4 q ''oH'''r'
tapping lhe i9ss Is565pS 90 'a aata 50
-asay-pe.sens bold the fist mortgage
bonds of he Union Pacli, Railroad IL
good faith and fsx, value, ,hat the Said
mortgage onsAs aSsl 0.As Sa asideA We
rppe3 tsrfaets NasSfo,eIr clietse,er of The
orsspisptisa ~ i sas gAYlie y AlF tI
The eoaaoiieo4bepsiis ll1er to -ihe4csti
mduytaeassbsfss 9lgdS Committee
anasuanila fft;la recsi'lnsnd itsIpas-
age. 49, ~
1Ehgiratifsssions4f 'AAiff21giilhlS al tPF
lows: s~ststu vsItds u FgoE9 sdi ,ysiisa 81
Ths.aiaafueu Generalasball cause a
suit in equity to,cbe Aissstfta'ad,a in esthe
name of tffssU,iited' States cagairat ahe
Union Pacific Railroad Uonifiay and
against ins tt IN persons sHs MO may III tiefF own
Il namee mr. throuoh any AGENTS have sub.