New-York tribune., 1873-02-21
REPORT OF THE WILSON COMMITTEE.

THE RECEIVERS OF LARGE DIVIDENDS 10 BE
FORCED TO DIsGORGE-A CHANCE FOR THE
GOVERNMENT TO RECOVER ITS DUES.
lBY TELEGRAPH TO THE TRGBUNEI
WASHINGTON, Feb. 20.-The Wilson Committee
have agreed upon plan to force the directors and
stockholders of the Union Pacific Railroad who
mortgaged the road and pOcketed the proceeds, un-
der the thin disguise of the Credit Mobilier diyi-
dends TO disgorge their unlawful gains They re-
ported this plan. to-day. in the form Of bill, which
directs the Attorney-General to bring suit against
all persons who took the capital of the road and did
not pay for it in full required by law OF who. as
directors OF stockholders unlawfuly received stock
as dividends, or received any profits from
any contract for constructing the road,
OF any money stock, bonds, OF lands, which
ought in equity to belong to the Railroad
Company or the United States The money received
on these suits is TO be paid to the Railroad Company
OF to the Government as the Court may decide it is
equitably due and stringent provisions are made
for attaching the property Of the defendants and for
the execution Of all wrts issued in the progress Of
the suits The bill also prohibits the road from in
curing any new debts without the sanction of Con-
gress and makes it penal ofense for any director
OF officer to be interested in any contract
An able report accompanied the bill, in which the
Credit Mobilier scheme of plunder is thoroughly
posed No action was asked on the bill to-day. Mr..
Wilson will probably call it up on Saturday or Mon
day.
THE HOXIE CONTRACT FRAUDULENr-THE UNION
PACIFIC COMPANY UNFAIrHFUL TO ITS
NEUTRALITY-SUSPICIOUS. UNDER WHICH
THE COMMITTEE LABORED-A MINORITY
REPORT-A RECOMMENDATION TO BEGIN
SUIT AGAINST THE COMPANY.
GENERAL PRESS DIsPATcHl
WASHINGTON, Feb. 20.-The Hon. jeremiah
NJ Wilson made report this afternoon in part relative
TO the affairs Of the Union Pacific Railroad Company, the
Credit MoDiier and other matters specified in the
solution OF the House The report enters elaboratey
into the history the Union Pacific Railroad and shows
the act Incorporating 1t was not passed to further
the personal interests the operators, for the
advancement OF commercial interests, for the
convenience Of the great public alone But In addition
to these the interests present and future Of the Govern
ment such we're TO be subseryed. The Committee
also give history the Credit Mober In connection
with the Union Pacific Railroad, based ON the testimony
already made public.
THE HoxIE CONTRACT.
In speaking Of the Hoxie contract the Committee say
the interests OF the Union Pacific Railroad Company
were utterly dsregarded. The Committee do not doubt
that il was deliberately done. They draw the cOncu
son speaking In round numbers from the facts
ained, that the cost OF the road SOOoOoO which
was wholly reimbursed nom the proceeds OF
the Government bonds and nrst mortgage bonds
and that from the stock, the income bonds
and land gran, bonds, the builders received IN
cash value at least s73 900 profit, being percent
age about per the entire cost Of the road
The Committee show the different amounts received by
various parties and say: II impossible 70 build
the road according TO the act OF Congress- they had
night to build it. They could easily have represented
their d1culty Congress, which has dealt generously
with them from the beginning. IL may be that all e1
stDg stockholders shared these pronts 20 that what