The Placer herald., 1873-01-11
OdactGI Paper of Placer Count!
WHAT PLACER LOST.

always contended that Placer county was
entitled to one or two millions of dollars FOL
our interest in the Central Pacific railroad
the county owning s250,OOO in full paid
stock in the company, and that we pressed
this fact upon the attention of the people, ,and
especially upon the Supervisors, in our edi-
torial columns week after week and year
after year, from the completion Of the road
until our stock was sold, or fooled away.
These editorials gave facts and figures flom
the company's own reports showing tie vast
amount due the county On our stock. These
editorials were copied by other papers, read
in the legislative halls and by all our officials,
and after all this we lost all our profits on
the stock through weak, or worse than
weak, Board Of Supervisors, aided by men
yet in the county. We failed because we
had loyal fools for legislators and Supervi-
sors and county officials, aided by traitors to
the beat interests Of the county. The fact
now comes out, by an Article in the Bulletin
Of Monday last, that we failed to get what
others got for their stock by about 81 ,6S5,-
600. Brannan, Lombard, Mrs. 7. ID. Judah
and others holding stock as we did, sued the
company, and rather than have the rascal
ties of the Contract and Finance company (the
Credit Mobilier of the Pacific COAST exposed
by bringing the books into court, Stanford
l. Co. settled with these stockholders by
paying them in coin STA per share for their
stock, making $500, 600 for GAG shares Of
stock. AT this ratio our stock, =, 800 shares,
would have brought us within small irac'
ton of 50 100000. Thus, while we got
500 per share for our stock, others got S|'4
per share, and even this was not the full
value of the stock, lut the above parties ac-
cepted it rather than follow the matter
through the courts fer years. Lombard
Sam Brannan and others invested S64, 600
in Central Pacific railroad stock and drew
out with $500, 900, thus clearing $435, 400
more than doubling their money seven times
while Placer paid in principal, interest, etc
$3.50, GOO, and quasi secretly in the night
by her officials, sold(D out for $3.50, 600
Honesty, brains and ordinary business ca
pacity on the part of our officials would have
given this county at the same rates Brannan,
Lombard and others sold for, within frac-
ton of, $2,712,5OO. Thus Placer lost by
the action. or for want of proper action, OF
her Supervisors, Van Vactor, Kinder and
Pratt, about 81, ,462, 500. This enormous
sum was absolutely in reach of our Supervl-
sors, as now proved by the Bulletin, while
with an energetic prosecution of the company
and its inside wheel the Contract and Finance
company, we could have secured from five
TO seven millions dollars, and at the same
time exposed to the world the grandest and
most monstrous scheme of vllainy ever un.
earthed to mankind But taking the same
sum pro rata that Brannan and others got,
We would have had, after redeeming all oul
railroad bonds, 50, ,462, 500, sum which
if invested in Government six per cent. bonds
would bring into the county treasury yearly
$147 $50, a sum more than adequate to pay
all our county and State tores .forerer, and
thus have relieved our people of ALL TAXES
IN all the future. Let every taxpayer OF
Placer think of this when he is raking his
hard earned change together to ray his tax
es; let every delinquent think of this when
he sees his name published as defaul'ine
taxpayer, and let him then curse the day
that ever Stanford ruled this county by
officials suited fer his purposes, and then OF
that day and hour let him vow that religion
and politics of whatever kind or name shal
stand in the back ground until Stanford ane
bis officials and minions in this county are
over,hrown, whipped out and driven from
all place and power. Affect slavery or in
dependence is again, this coming Fall, pre-
sented to the people of Placer county; whicl
vii! they choose?
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