The sun., 1873-07-23
The Central Pnrific Ring.

sacramento
Senator Carpenter is credited with " a
great contempt for the press" We do not know
on what particular thing lac founds ths great
CONTEMPT but supuuse Ii to be- the storm raised
by the press last winter when the Credit Motilier
wa up, and after the back salary grab had
pas. ed Congress. Tie contemn' those journals
which exposed these public outragcs, or pre-
tends to, but II Is more than probable that his
contempt originated IN "a knowledge that :, me
ot the journals only came out n i"Nor oi justice
after II had become apparent that invcstiSati ~
could be no longer defeated. Anc In truth
sucn papers are nothing less than contenptihIe.
There Is a large number OF them. Ihcfr l. "A
lar,cr number tnat while affecting 10 serve the
popular will for the sake of popularity. really are
at wo.k Ia the interest II frauds us great a.
tnnse which have Been partialiv exposed.
For example, we have many papers IN this
state, clnnoruus against the lnipn faciiC
COmpauys credit Mubller, that have ueNer I'D
word against the Central faclLc's Contra /
ana Finance Company, save Ia iraisr ui II ;
though 1t l. generally conceded that thcy are a.
side ON the .aurc car. The Credit Mob Her was
an inside lnuy ot the Union paciuc sipckholdcfs,
for the purpose OF specializing on the GuNern-
meut and the outside stockholders IN the COM
struction uf the road hy uNcrVhar.es IN con
tracts. The Contract and Finance, Company W a
a ltuE composed uI Stockholders ut the Central
Pacific Cumuauy for like purpose. That they
succeeded a. well IL clear, from the fact that
tal- Ring at not more than eight or ten p"r-u u
now own the Central Pacific road, and are all
immensely rich, though they were all In but
moderate circumstances before the King was
formed. and from the other fact that ~ one
outside oi the kins ever made cent 10y divi
deudS on his STOCK and that no dividend has
Ia fact ever been declared.
Al the overwhelming wealth Ot these mem
bcI- uf the luus cauc from their iisidcad, ui
10" contracts awarded by themselves 10 them
selves and their cuuiedcratta.
am ih, Hutfort C0pr mt
After the disclosures OF last winter, In relation
, the construction ut the Union Pacific Raj
road aud the swindng profits uf the Credit Mo
bllcr, II viii hardly occasion surprise To- know
that slmLar a, ,cusdttuns are made against tht
managers Of the Central Pacific road. Both
ruaus were constructed Il he same time and In
the same manner, and it Is at least probable that
qulriug imAcu-' fortunes Tor "A small King.
IuE Sun, which hr-t made publ the Credit
Muhlier iIauQS Ia, now uCLNu AL assault uDOn
what IL calls the tentrh Pd,iiV iiu-. II ali, Los
uuuL the A .tAHrlty 81 TIE super. it"r- Of Placer
county, tdiiutnId, that the company has been
gigantic swluuIe, bts luC which LuV rev, ht ions
CONCERNING the eastern portion Of III" ioad
dNlndlrd almost Ia iu,iGnliCdnCe; that over
S4hiuhtuN n.l, been golhlcd hv the road, chief,
thruugu "Ip" Contract ana Finance Company,
concern of the Credit MOblllur sort, beIn- 4
combination among the mal.a-or- 10 s."al tAl
pr"l u' tue road, it- Land grants, and Govern.
m"ut aud stale bUuus.
IL IL alleged also-and who will doubt il =
that large sums have been spent IN " tshin-toi
to secure favorable or prevent uldNorahl,
legislation. Ii is evident another iuNtsiisduuI
VIII Ice called for ncA winter al IL VIII he
matter for great rejoicing II some more brilliant
regulations uud PROSPECTS are uot blasted.
OF one thing We may Toe tolcrHhly confident
the terrible warning of the Poland lnNc ugdtiul
will not he forgotten, and (ou.rrts men viii no
make haste to deny their connection with th,
road, until they know how much evidence hdi
been secured against them.