New-York tribune., 1873-05-27

since.
Paragraph Thrd-The sections OF railroad and tele-
graph constituting salt Companys lines, were from time
tO time and successvelY as built reported the Com
pany the United States completed, duly
amined on 6enaif OF the United states Commissioners
appointed by the President, and accepted,
Internationally others only Professionally witn specified
tons the part Of the Company for making the work
more complete and satisfactory according to require
ments Of acts OF Congress- tnat the conditions ana
ulatiUns for making the works complete in
forming with said acts OF Congress been per
formed and complied with the satisfaction OF the
United States On April 10, 1862 President the
United States appointed Board of five eminent citizens
not interested in said railroad, 10 and report
upon the condition OF and tue committee appointed
Oct 90 1869, reported numerous deficiencies the
construction thereof requiring further expenditure OF
t5S6l0O " supply tne deficiencies aud maKet conform
" law.
Paragraph Four,h-At different dates beginning May
"a, 1850, and ending July a. 1870, the United states
Issued said company bonds due 30 years
provided Tor Dy acts OF Congress- 10 the aggregate
amount OF $21 G6,5l2 which bonds sold by said
Company has failed aud refused to pay the interest
when has accrued aud accruing aud the same has
been paid 6Y the United States II fell due alter de-
Quoting from amount Of interest paid by the United
States the amount for Government transportation
bty OF said company 70 the United States
on said interest account remained Oh the first Of Janu
ary 1873, OF the amount OF fo06709 H. making 'he
gate liabilities OF the that date United
States bonds issued "a the C0bany, principal aud in
erty OF the Company OF k3J435 IT, Tie balance 80
existing by reason OF the OF inerest by the
Paragraph FIth-On the 1st November, 1885, the said
Union Pacific Railroad Company entered into deed Of
tldenture with EIWin ID. Morgan and Odkes Anes,
trustees 10 secure the paymentOf first mortgage bonds
10 De issued under the tenth section OF the act OF 1865
which deed conveyed IN the way Of trust aud mortgage
10 sald trustees the survivor Oh lne ana 10 thelr sue
successOra, the railroad aud telegraph OF said
Company from Omaha 70 the western terminus. con
strueted to constructed with all its lands,
mems, neredents, rights OF way, ana easements re-
CURED be acquired for the purpOse of right Of
Ior single dOubie, or other track ralSoad and telegraph
line, aud for depVts, ennenOu5eS ca houses &c, AMI
purpose VI building and operating SAID railroad
and telegraph, aud also the rails, depots, &c,
aud also the goods ana chattels OF sald company
necessary to said railroad and telegraph line or ruunlDg
aud operating the same, SAID conveyance contained on
the part OI said Company among other covenants 70 take
advantage O me extension LAWS OF applalsenent Jaws
OF the States or Terri ores aud for frther assurance
aud at different date or since tue execution VI SAID
deed said Company ISSUED ia hrst-mOrtgsge coupon
bonds payable ~ years from date, bearing SIX per cent
interest, payable semaInnnay, and disposed OF them
10 the Aggregate amount OF s9IlJloO sald bonds being
dated bearing interest from tner sales. Tie whole
amount Of THESE bonds is outstanding against theiCOm
pany ana unpmd except as interest," wnlch has been
UNPAID BONDS
Paragraph Sxth-Oa the 10th day OF April 1867, the
Union Pacific Railroad Company entered into a dee OF
indenture with Cyrus Ii. Mccormick and John DuG,
trustees and defendants heren in the OF trust
mortgage, to secure the payment OF land grants,
called Under said deed Of trust and mortgage the Union
Pacific Railroad Company ssed Its socalled Land Grant
Bonds to the amount OF s1OIOoooo, bearing various
dates from the 18Th OF April, 1867, to the 1st Of
April, 1869, with interest at per centum from
their dates down to Jan. l. 1879 The Company
sold lands covered by said deeds Of trust aud
mortgage to the extent Of 6Jl59s acres the prcs o.
which sales amounted $2.S57.55a. Part Of this
applied 10 the redemption OF bonds issued, Ddl
there remains OF said bonds outstanding ami unpaid
1881 OJO Said Company intends u selling said
lands and claims tue right 10 sell them aud Apply tne
proceeds the redemption OF the land grant bonds 70
that exhaustng the security OF the Ued States
for the repayment OF tneir bonds .
rqfpr tn M
bonds. AL these bonds are outstanding ana
paragraph Eighth refers the q 200 bridge bonds and
mortgage. Tne amount OF said special Oridge OInds
now outstanding Is S2,46S,OOO.
Paragraph Nintn refers 10 the sinking fund bonds TO
Psraraph Tenth refers to the floating debt Of about
s2OOJOOO The Company also issued certificates for It's
sOcK amount OF at least $J, 1880 all Of wAch
stock is outstanding aud in the hands persons clan
lug the gnt by of 1t to take part IN proportion
TO te amounts held In the management OF the ComDany
Paragraph Eleventh refers TO the Godfrey and Ward
well contracts, and claims that the lease Of the
Company's coal lands Is illegal.
THE TELEGRAPH AGREEMENT FRAUDULENT.
Paragraph Twelfth refers TO the agreement with the
Atlantic aud Pacific Telegraph Company; rectes that the
Government is unable without the aid OF gal proceed
ipgs to discover the OF between
the Union Pacific aud this Telegraph Company are In
formed and believe that the managers Of the two COM
pauies part in the whole the same, ana that
their arrang cement is fraudulent device TO make for
the managers more profit than they could lawfully
make and TO deprive the United states OF its lawful
security and advantage from said telegraph.
Paragraph Is refers 10 the arrangement with the
Pullman Palace Car Company and rectes that is an
arrangement between the stockholders and managers
of the Union Pacific Railroad Company with said Palace
Car Company by which the car company oDtalns priS
eges and profits from said railroad NOT Ior
interest the company 10 give. ana Dy when the man
ayers ana stockholders of said railroad company or
some OF Them frauduenty obtain for themselves prOnts
for the Of the road which IN equity DeonH " tue
PaTagrapn IA refers to the agreement with the
Omaha Bridge Transfer Company, ~Aich also cnarac-
teriZes as fraudulent
THE UNION PACIFIC COMPANY NsoLvESr.
Paragraph Is claims that the Union Pacific is inso
vent; that the Of the railroad and telegraph line
was considerably less than One-ha the represented
by the aggregate OF stock and other pretended Liabilities
OF the company outstanding that the larger part OF the
stock aud bonds Of tbs company before mentioned was
isssd the OF the company by its managers not
in the interest tbs company but TO enrich the
in manner and for purposes unauthorized by law.
large majority Of the stock habually voted upon
"A of right In eecng officers aud controlling the affairs
OF the company stock issued IN manner not author
by law which was never paid Tor IN esn OF 10 any
other thing Of an equivalent value 10 the company
large part VI it's income Is used baDtuauy IN Ptyne
its managers high interests on Tue oonus iSsusu a1
quae consideration. The earnings nave not peeh sum
cent to the accruing interest on s noang ueD anu
SOODOOO OF It's income bonds 50 far called VIII oe uue IN
September, 1874. out no funds have been po'ue1 or o
aecumulAtng for either ties aud rails or the pay
ment or said income bonds Toe interest on the bonds
ssued TO the company alO To accumulate without
payment As before stated, the company IL lnsoVent
and ged depend temporary loans to save lt oD
nsatlons and PROMISES from dishonor. Its principal
managers treat it depending theiI personal eret
20 save IL bankruptcy. and make pront Dy oanng
A. money for hIgn interest and commission.
Paragraph l6 refers 70 early transactions OF the
Union Pacific Railroad Company and the intent OF lts
managers.
Paragraph IT recites the bylaws and officers
Paragraph refers ~ the Hoxie contract and claims
that the prices excessive.
Paragraph 10 refers TO the Credit Mooier Corpora
ton ts charter, organization, stockholders ana man-
agemeut in much the IN the report 10
the Congressional Committee.