The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-04

no money was used to grease the way Of this char
ZEIoLER-Not cent In the first place, we cor.
porators we're all poor and had no money to spend
!or u and In the second place. there wasn't any
you see. l don't actually think that three men
ever put through legislative bill by better or
we three did that Fiscal Agency bill / am sure
Dun Green thought more Of the glory and profit to
the nation that might come from 1t than anything
ban had did you do with the charter
IN the office OF Oliver Barnes, under the Pennsyl-
vania Railroad Office in Philadelphia, ana elected
business on grand scale. Big alotments OF stock
were made all around; $50 900 was assigned to me,
put thaS was ws ataer sce as cent to
distinguished services, they voted me thirty shares
Of paidup stock, and that thought meant busi-
ness
THE THING DON'T WORK WELL.
REPORTER-What did you do them
ZEIGLER-Well, the thing came to nothing, not
opened books. but little stock was subscribed. In
fact, the project was evidently premature. Ine
OF asking Congress for help, you must understand,
never occurred to any OF US; The idea grew
war Da Green was soutSern and State
rights man. His idea was to get the States espe-
cialy those along the line Of the proposed road, to
aid the scheme. So he went to the Southwest IN
1850 to work up Texas, Louisiana, Arkansas, Mis-,
sissppi, &c. There the war caught him and penned
don't know whether he ever got back. am afraid
he Is dead have not seen or heard OF him since.
Poor fellow II he Is dead, ! hope he lived long
completion OF the Pacific Railroad, and not long
enough to see into what frightml slough Of cor
ruption his pet idea "taken from the French" has
REPoRrER--Did the rest Of you drop the project
when Green left
ZEIa1ER-Ne, not Immediately. In fact, we went
to work rather actively. Part Of the plan was TO
.'develop" the resources OF Texas. Old Governor
Porter moved to Corpus Christi right away, and
figured around the various operations there. !
invested $4,000 in Washington county sheep and
sent them to Texas with couple of shepherds.
When the war came on, the 'rebs" took all my
sheep and conscrIpted nay shepherds-One OF them
was killed in the battle before Richmond. lost
every split hOOf of them. The war swallowed them
and our magnificent scheme.
RAISES STAKE ON HIS STOCK.
REPoRTER-And so that is all you ever got out OF
ZEIaLER-Wel, not quite. The scheme kind of
died out at that time, ard for four or five years
had pretty much given up all thought Of it, till one
day was In Philadelphia. and Charley Hail. who
was one of the corporators came up to me, and, in
the course OF conversation on other matters,
said, "By the way, Jake, have you got that Fiscal
yes" said I, 81 suppose I have it somewhere.
'Why," said he, 81 can make little something
for You g; out Oft can s27S for 1t from
'Well, Charley" said I, 'Ir sell for that, and
glad to get anything out of it, am sure" SO
sold my thirty shares and got my s275, and that's
all | ever did get.
REPoRrER-Are you not sorry now you didn't
hold on to it?
replied the old politician): wouldn't object to
some of these big dividends. don't know exactly
what my shares are worth now, or were worth two
or three years ago before this investigation COM
menced, but Lew Hall, who was attorney for the
State to recover the taxes due from the Credit
MObilier corporation year or two ag0-yOu re-
member that 100000 suit, don't you S-decided
against the State by the way-Lew went to New
York and examined the books. He told me that
m yVar ink
that was an exaggeration, but know they were
very valuable.
HOW IT WAS CHRIsTENED "CREDT MoBILIER."
REPORrER-YOu haven't told me how the company
got back the name that 1t was laughed out Of
Credit MObilier.
ZEIGLER-Oh, that was done in 1854. Bv that
time the name was quite familiar in this country,
and didn't sound so Ridiculous. The name simply
means company for the mobilization Of credit"
and the members OF the Pennsylvania Legislature
had got this through their hair. SO during the
session OF 1864 they got me to 60 down to Harris
syvania Fiscal Agency" to "Credit M0Diler OF
America" which did without trouble.
REPORTER-What do infer when you say "theyf"
ZEIGLER-Why. Barnes and Hall, think
REPoRrER---Did you know what their object was'
ZEIGLER-NO; thought that it was in order to
give the company less Of local and more of a ma
tonal character.
REPoRrER-In order to dispose Of it out Of the
State?
ZEIGLER-That is what was led to suppose.
REPoRTER-Was this before or after you sold your
shares to Hall.
ZEIGLER-Indeed, sir, can't remember. My
knowledge in that respect is on par with some Of
those congressman before the investigating CON-
mittee.
REPoRTER--It was about this time, was 1t not,
that the charter was taken to New York;
ZEIGLER-Yes; think so. dOntknow how that
was done either. l suppose Barnes took the
books over bodily and delivered them to the New
Workers, who organized the Union Pacific Rail.
road ;but what he got for It or how he got rid Of
the Pennsylvania stockholders is mystery to me.
The Supreme Court decision, declaring the Credit
Mobilier owed nothing to Pennsylvania for taxes,
because 1t was mo longer PENNSYLVANIA corpora
syvania corporation, under q Pennsylvania
charter, what was it,
STORY TOO THIN.
REPoRTER-What about that $500, 900 story
ZEIGLER-Well guess have told you all know
about the matter that anybody knows, except
swimming around the investigating Committee at
Washington, but which no bait can tempt to the
surface. That story which appeared in the NEW
YORK HERALD about the New Jersey Legislature
refusing to pass such charter for $3.50, 900 and
the New York one refusing 100000, while Penn
sylvania did the job for $40, OOo is not by any
charter was bought it was when Barnes and Hall
moved to New York. though whe Their they sold 1t
can't say. know nothing about it after 1t left
Philadelphia.
NAME THAT SHOULD BE on THE LIST.
81 hope to heavens" said the old gentleman,
continuing, "that they'll make them produce the
books at Washington and publish the stockholders
list / think Jacobs name ought to be among
them. have notion at times to go on myself to
Cakes Ames and strike him for something, on gen.
eral principles as original corporation; but
don't know; perhaps II is best not. My connection
with the Mobflier has been an honorable one. am
proud oft and guess Will not get myself into that
1,5Oo per cent dividends that have been dying
around"
Having received from the genial old gentleman
all he knew OF the origin Of this nevertobe forgot
ten company, which has worked such tremendous
good and evil results for the country, we babe him
good evening.