The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1873-02-08
A STRANGE STORY.

John C.Fremont is to be investigated
Why, is related ne follows in the Now
York SUM
We have been panied NJ rumcrs circu-
lated during the past three or TOUR years
accusing Gen. Jvun 4. Fremont of dis
honesty In the sale in France of six or
eight millions ot bond. issued IN behalf OF
The Memphis and III Paso, or, US 1t was
more commonly called, Irans-CJntinenta
way. SUITS have been Instituted III
the French cour,s, which Will bring the
matter to "A test OF judicial investigation.
These transactions occurred nine or ten
years ago, when the government Of Louis
Napoleon was stu III possession OF de-
optic power. There were circumstances OF
most remarkable nature connected
with the affair. The managers OF the
undertaking, whoever they were, gained
by some means u surprising hold upon the
French ministry. They secured for their
bonds admission TO the Paris bourse, n
privilege which cannot be accorded IN
France to any foreign Railway securities
without express authority from the gov
eminent. These bonds were put upon
the market and under the sanction of the
official guarantee they were advertised in
the journals and u special weekly news
paper called the Trans. Continental, was
established to commend them to favor.
1t was even represented in this paper
that the United States government had
guaranteed the payment of these bonds.
Another suspicious incident was the
| presentation ~ the bourse in Paris OF II
| certificate signed, sealed and apparently
certified to with every necessary legal
tormality, stating that the Trans-conu-
mental bonds were regularly dealt in, and
sold in the New York stock exchange
this being the contrary of the truth and
all the signatures, seal and everything be-
ing torgeries. Gen. Cluseret, at that time
II French citizen, published attacks upon
the scheme, ana he was ut once
summoned before thu minister Of
the interior, and by way OF
punishment ordered to quit France with
IN "a hours. The Courier Etdts URis, a
journal long established and of high re-
| spectability, likewise venturcd to crllicise
| the project, AND the result was that 1t was
Immediately excluded from France and
deprived OF the important benefit of cir
culating in the French West India colon.
les. 1t cannot DO supposed that all this
Was accomplished without payment of
brides 70 an administration So corrupt as
that Of the second empire. What the
brides were Las never been precisely as.
certained, but it Is notorious that
the Trans-Continentsl bought IA large
quantity OF iron and u supply Of locomo.
lives from Mr.. Schroeder, the great manu-
iacturer of Creuzot, who was then pres.
dent OF the French legislative body, pay.
ing him enormously. The nominal value
Of the bonds sold TO the French amounted
we think to between seven and eight mil.
lions of dollars, netting perhaps five mil
lions. How much o. this money was
spent In France is not known, hut what is
certain is that not mile of the proposed
| railway was ever constructed,
and that when the concern went
into bankruptcy in this country the re-
ceiver found no available assets except a
quantity of iron and French locomotives
rusted and comparatively worthless,stored
at Now Orleans. These are the general
outlines of one OF the most remarkable in
all the list Of fraudulent and untorlun ate
railroad enterprises. We presume that
the approaching trial 10 Paris will develop
all the facts in this strange and romantic
story.