Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-01-18
ESTABLISHED MARCH 80. 1885.

and three mililon CollarB ElOTo GDAu tuo az
tual cost OF that portion of the road which
had already been built, paid for and accept
ed by the Government. 5 rst
The Chairman asked, was it not TACT
that the difference between the cost OF the
two hundred and thirty-eight miles of road
and the amount for which it was let under
the OAkes Amss' contract constituted the
assets out of which dividends were declared
to the stockholders of TIE Credit Mobiiior.
Answers was.
Mr.. Hoar-If that money had not been
thus divided, would it not have been the
property of the Union Pacific Railroad
Company (? So the Trustees took the prop
erty of the Union Pacific Railroad they had
on hand, and divided 1t among the stock
holders of the Credit Mobilier.
Witness said that such was The effect.
Witness said the contract could not be
made with Ames to build the road without
giving him the benefit Of portion of the
road already constructed and paid for by
the Railroad Company. The stockholders
of both the Union Pacific Railroad Compa-
| nv and the Credit Mcbilier were the same,
| with few exceptions, these not represent
ing more than four thousand or five thou
sand dollars stock OF Union Pacific Rail-
road Company.
By Mr.. Hoar-Suppose the road was
| built economically, aud without unusual
haste. and the capital stock had been sub
scribed for and paid in cash, would not the
amount of the Government loan Of S27,-
| 600. 900 and the capital stock Of So, 900
amounting to S64, ,OOO, have butt sud
equipped the rosd without reference 10 the
| land grants.
Answer-Hardly, at the time the work
was commenced, tut it might be at present
with the facilities offered, for, l think, $685.
| 100000.
Question-Do you know Of any person
holding the Office Of Government Director
in the Union Pacific Railroad since its
original establishment who has been inter
ested directly or indirectly, so far as you
know or have been informed, in the Credit
Mobilier, or in any contract with the road.
Answer-I know of no other gentleman
than James Brooks. | am subscriber to
the stock of the Wyoming Coal Company.
Contract with this company and the Union
Pacific Railroad Company was entered into
July, 1868. The Wyoming company was
organized in a subsequent act under law
Of the State of Nebraska. The directors
are Oliver Ames, President of tie Union
Pacific Railroad Company; c. o. Godfrey
| and Thos. Waddell. The capital is $780,
600. The railroad company virtually OWES
the coal company and have had all the
| benefits from it. The receipts OF the mine,
according to the treasurer, have been barely
| sufficient to pay expenses, the coal being fur
nished at Si.S2 ton. No dividends have
been declared. Did not know of money
having been paid to any commissioner ap'
pointed by the Government to inspect the
road, but he thought 5000 had been paid to
Mr.. Snow. Had heard Wendell mad beer
paid, but on ssking the President and
Treasurer of the company, they said snci
was not the fact. 1t was reported that a:
high as $50 900 had been paid, but he knew
nothing about it. he never paid anything
on that account. He had never teard any
thing said among railroad people tha
money vas paid to Government direction
in excess of what they were entitled to un
der the law.
Committee adjourned until tomorrow
Deficit in tie Eew York C0IIectOr'
Office.
Special TO the Cincinnati Commercial.
WASHINGTON, Jan. 15.--The report
current here, from what appears TO be
trustworthy source, that there is shortnes
amounting to about $4,000 in the &C
counts of Gen. Arthur, Collector OF New
York, and that Treasury officials have bee
to that city and asceTtained the facts. Th
deficiency is said TO be in the stamp az
! count. 1t is understood that Arthur make
an explanation that relieves hin, and say
that Congress viii undoubtedly relieve hin
from resp )Dsibility for the amount.
The Pay OF Contestants.
Among the amendments that passed th
House with the Appropriation Bill was q
important one by Afr. MCCreary, Of Iowa
which provides that hereafter no mona
from the Contingent Fund OF the Hons
shall be paid to a contestant for = seat
the House. This viii have the double e
feet of stopping, in a great measure, th
growing habit Of cOntesting seats IL Coz
giess as q business understanding, and OK
tanning an allowance Of several thCusan
dollars fer EXPENSES; and also Of saving
large amount of money annually to ID
Government. The cost of these contest
i.st year was SIO5,0 600. Contestants in d,
serving cases will dou btless be paid herea
ter, but the money will c)me from regI
lar appropriation Of the two Houses, wit
tha sanction Of the President, and not frol
the Contingent Fund Of the House, whel
there is 10 accountability.
Regulation of Railway Rates.
Hon. j. B. HswIey, of Illinois, delivere
ali argument before the House Committe
on Commerce, to-day, in support Of bi
recently introduced by him, providing Il
the appointment, by the President, of
committee to collect statistics Teg2rdir
railroads, their rates Of fare for passenger
and freights, the condition and manner {
operating the rolling stock with Teteran'
to the safety and convenience Of passel
gers, and to recommend such uniform rat'
as their investigation may demonstrate ;
remunerative, to be prescribed by law
,, Congress, to be charged for the transports
ton Of passengers and freights. The con
mittee has not yet formally considered IL
question. All the four different bills to re
nllte freight and passenger fares are befol
them. They expect to do go, however,
aaplyy dav