The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-30

and willing to be for the sake profit His hair is
white, but there Is sort of dirty streak in IT. the
only sort OF resistance In his face is that or resist
ance to compromise and to generous Impulse ior
the forgiveness Of his debtors. People from MS
district have told me that he possesses the best
establishment In the town Of Lynn, and that MS
your age had $4,000, and andy you haven't got any,
Is possible for such man to inspire anybody with
ms example-lnto ardent youth.
Oakes Ames Is proved to have been nearly recip-
Iocai ~ times with congressman and others VINO
uiu MIN Iavors, ana In one OF his letters he SAYS
I'm view OF washburne's movement towards in.
full; and the only opposition to it comes from John
Is. Alley" The facts were that Alley had sold his
Boston, and expected to be able to take up stock
from some OF his confederates in New York for $780,
When he got to New York and found nobody
as trustee to oppose any dividends until Durant
gave him written paper-what is called a stock
Option-Ofering to sell him $50 shares. When Alley
got this paper and was satisfied that dividend
would be to his advantage, he immediately
changed tune, and made motion that the same be
declared 1t Is the unanimous opinion of all per-
sons who have watched this case that all the mo-
ney Of which John b. Alley may ever be possessed
will be dearly purchased at the price OF the reputa-
ton he has gotten during this trial. lie mas all the
cowardice OF cripple, and knows that nobody
will give him castigation because of his infrmity,
and he therefore hired lawyer in Philadelphia, by
the name OF McMurtrie, to prepare a long screed,
dnll Of inuendoes lbels and lies lies about Mctomo
per to be read by this old man. He said that an
eminent New England jurist had told him that II he
He was under oath when he made this remark, and
Judge Merrick asked him the name OF that New
trie. McAurtrie has never resided in New England,
and is native ofthe Quaker City. SO perjury No.
began the evidence Of John B. Alley, OF the town
Of Lynn. Every Winter this person comes to WASH
ington city, and creeps into the House and hobbies
over the floor. although ne has not been member
Of Congress for quite WHILE He has been stand
ing candidate for Governor Of Massachusetts, but
we apprehend that hereafter he will have some diff
dculty In being made an Alderman.
ORIGINAL SHAREHOLDERS
The following Is the amount OF stock taken in the
Union Pacific Railroad by some Of the persons now
$500 600; oliver Ames $3.50 900; John Dun $4,000;
Cakes Ames, $15o,oOo; G. H. McCo rmick, 100000;
siooooo; BUSHNELL slcoooS Henry sH' s. M cco%n,
100000; Samuel Hooper, $50, 600; James Grimes,
$4,000; John B. Alley, $4,000; James Brooks,
In eight years In the Union Pacific road. Mr..
Brooks $4,000 is charged to have brought him
about $500 OOO The dividends In the Credit MObilier
ground nOOr'' gave above 1900 per cent.
THE STOCK SUBSCRIBED
to the Union Pacific Road amounted altogether to
only So, 260 O00 had 1t been called in not only eighty
miles OF the road might have been built, but then
the government bonds would have built eighty
the price OF the stock in the market, 30 that it
would have stood above par all the time, and made
original subscribers Interest could thus have ave
been kept DOWN, income bonds would nave been
unnecessary, and the stock would have made 100
per cent per annum so that share which cost
but 500 would have been worth ST. 900 when the
road was completed According to the estimate
e to have heads one in sars K
advanced to $1,000 than ten shares worth $1,000.
According to Alleys testimony the income of the
Union Pacific road is IS, 900 per annum of which
nehalf il profit. The interest on both the first
mortgage and the government bonds amounts to
s., 400, QUO year-a respectable profit of nearly
So, 000, 600 per annum.
THE RIVAL INTERESTS.
the e. Ames and Dillon interest own 10000 out Of
present assets Of the Credit MObilier consist of
81, 100000 Union Pacific income bonds, worth
eighty-four cents on the dollar, several hundred
acres OF land around Omaha and Council Bluffs,
and q large claim against the Union Pacific Rail
road Business men who have been watching this
investigation are unanimous in Affirming that so
far from Cakes Ames and his friends having
shown such abilities in building and handling
the road as to entitle them to immortality
they have been habitual blunderers and their in
sincerity and dupliclty disquaiy them from being
at present no practical control OF their own road
and cannot issue free pass over it. In order to
give the corporation more character they have
been compelled TO call In successfully as President
Thomas Scott and Horace +. Clark paying the
large salary oifrom twenty-five to thirty thousand
dollars per annum. One has to look by way of
contrast at the Central Pacific Railway, which is a
Western extension OF the Union Pacific. TO see how
vastly superior were the business qualifications of
THE MEN OF SACRAMENTO
to the railroad men OF Boston. The former held To-
gether showed sacrifice, geniaty and sagacity,
par and their bonds above par while the Union
Pacific stock has been down as low as 0, and at no
time above 81, while its bonds stand at only So. At
the same time there has been very extensive
emigration on the line OF the Union Pacific and It's
rich lands in Nebraska have been occupied for
two hundred miles or more west of Omaha; while
the Central Pacific, owing to the distance of the
country it traverses from the great reservoirs OF
grants of relatively little advantage. It
Is not Clear however, that the Central
hnQ
been OF different character. 1t pays the election
eering expenses of senator's and congressman
from oregon, pays its lobby the whole year round
and does no dckering Of the fve-penny bit char
acter, such as Ames undertook with impecuni0us
members OF Congress. There is large and grow
ing antagonsm to the Central Pacific corporation
on the Pacific coast; but it always manages TO con-
troll q majority OF the representation from the
Pacific States These contracting companies,
such as the Credit Mobiler, are now ia vogue in
nearly all the new railways, and at least two of the
Northwestern senators are charged to have stock
IN the Northern Pacific contracting company.
The name of the Credit Mobilier OF the Texas
tracing Company" II decision were rendered
against the legality Of q contracting company
within corporation, parasitical in It's charater
and preyng upon the earnings OF the larger body
there would be an end, probably, or these corrupt
concerns. One of the Ames party was illustrating
the other day the easy virtue OF these big specu-
lators and contractors in the case OF Durant of
whom 1t was charged that he would borrow money
when in straits at usurious rates. and then cooly
call together the lenders and remind them tha6
they had violated the law and were entitled to no
interest whatever, but that faith would be kept
with them il they would grant such extensions as
the dasning debtor demanded. This might be
called 'whipping the devil around the stump"
THE AMESES.
Cakes Ames Is sui generis He has all the shrift
or New England, and boards In this city at a Sl3
tavern chewing away at beelsteak which might
break the jaws of an alligator. Yet he appears TO
digest It. OF a like toughncss Of texture are his
sensibties. He has no spirit, aud will take any
number of hard names. lilo Is not Indifferent about
friendship.
the poor rats IN Congress who nibbled at his bait
In part by Kindness and partly also because his
imperfect sagacity could not quite see whether he
himself would lose or gain by the disclosure. But
nobody doubted rom the first that II he were to
lose any point whatsoever he would tell the whole
taic. The brother, Oliver Ames, is admitted to be
man OF more senslbility and worldliness. cakes
Ames has been cropping throughout this entire inves-
tgation and utterly unable to decide upon a course
oil action III his own defence, leaving the pro-
grainme to James Brooks and John b. Alley Alley
has some cunning and q GOOD deal of niliness.