The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-28
THE SIOUX CITY FIRING"
A Budget Of Fragrant Facts for
the Poland Committee.
HISTORY OF THE LITTLE GAME.
How Lambard Sues Sioux City
and What EnsueS.
The Powers Of Congress TO Be In
duStriCuSly Invoked.
THE THREE INTERESTS.
Two Iowa Railroads and the
Iowa congressman.
THE THREE AtlES AND THE FOUR BLhIRS.
IagO Hoax "Not Inclined to Figure
ConspicuOusly."
HE WILL "REFRESH HIS MEMORY" NOW.
A Plot 'stO GObble Up All the
Little FellOws.o
Complete List of Directors, Off
IagO Hoax "N0t Inclined to Figure
Conspicu0usly."
HE WILL "REFRESH HIS MEMORY" NOW
A Plot ''tO GObble Up All the
Little FellOws.''
Complete List of Directors, OFF,
GERS and Shareholders.
CONGRESSMAN LARGELY REPRESENTED.


The action OF the House of Representatives, on
Thursday last instructing the Select Committee
on Credit Mobilier, OF which Judge Poland, OF YER
mont, is chairman, to inquire into the doings OF
the Sioux City and Pacific Railroad Company
especially with reference to the pecuniary obliga-
tions OF that corporation to the government Of
the United States, is attracting additional atten-
ton to the Congressional bribery scheme OF our
railroad giants. Indeed, q distinguished railroad
contractor and builder, who has already figured
very extensively in the mysterious complications
OF the Union Pacific and Credit M0bilier stated TO
the writer few evenings since that an nvestiga-
ton into the transactions OF the Sioux City Com
pany will unve more startling record OF Con-
gressional corruption and bad faith to the govern
ment than the Credit Moblier has yet developed
The land grant to the Sioux City road was con.
tributed by Congress in the same patriotic spirit
and with the same liberal hand which charac-
terized the aid to the Union Pacific Company
There was however,
VERY MARKED DISTINCTION
made in favor of the Sioux City road, with refer
ence to the usual governmental supervision of in
vested national interests in subsidized corpora.
tions. That distinction consisted in the extraor-
binary fact that while the appointment of govern
mental directors was provided for to look after the
lands given to the Union Pacific, none were deemed
necessary to superintend the disposition OF the
lands given to the Sioux City Company. 1t is
given out that powerful combination precipitated
itself upon Washington and wrought wonders in
favor OF this corporation in the legislative and exc
cutive departments of the government. In view
OF these rumors, and the advance already made in
the House upon this government-fed corporation,
brief history Of the Sioux City and Pacific Rail-
road Company is given below-being chiefly alb
stracts and extracts from certified records of the
transactions OF the corporation.
THE "sTOUx CITY AND PACIFIC RAILROAD COMPANY
is a corporation formed under the general laws Of
1860 OF the State Of Iowa, pursuant to an assoca-
ton previously entered into by nine persons,
namely PLAT Smith, L. B. Crocker, NJ. X. Jessup
John l. Blair, James F. Wilson, A. W. Hubbard,
Charles A. Lambard, Frederick Schuchardt and
William b. Allison The articles oil Incorporation
provide that the company is organized to con-
struct, maintain and operate railroad from Sioux
City, Iowa, to such point at and upon the Union
Pacific Railroad, or the Iowa branch thereof from
Omaha, as may be hereafter selected, under the
provisions Of an act OF Congress, entitled An act
to aid in the construction or railroad and tele.
graph line from the Missouri River to the Pacific
Ocean, and to secure to the government the use of
the same for postal military and other purposes
thereof that its corporate name shall be
as quoted above and its principal place
of business at Dubuque, Iowa, until otherwise di-
rected; that the company shall commence business
August l, 1854, and continue for a period OF fifty
years, the capital stock to be SIX millions of dol
lars to be divided into shares OF one hundred each
and may be taken by individuals or corporations,
&c. that the officers OF said company shall consist
oil nine directors, who shall have the management
OF the affairs OF the company, majority Of whom
Shall form quorum for the transaction of bust
ness, and any director may vote by proxy; that
the nine persons named the first article of incor
poration quoted above shall be directors until the
hrst Wednesday OF August, 1866 and until their
successors are elected, and subscribe for at least
ten shares OF stock in said company; that the di-
rectOrs shall elect President, wee President,
Secretary and Treasurer from their number the
two latter to hold their ofces at the pleasure of the
Board; that the Board OF Directors shall appoint
AN EXECUTIVE COMMITTEE OF FIVE,
TO include the President, who shall possess such
powers as may be delegated by the Board OF
Directors, and which appointment may be revoked
at any time that at all elections for directors each
stockholder shall have vote for each share held
by him. the vote to be cast In person or by proxy
under such rules and regulations as said company
may prescribe provided that each director shall
hold at least ten shares or stock; that at no time
shall said company subject itself to an Indebtedness
or liability exceeding the sum OF s400O.ooo; tnal
the private property OF the officers and stock
holders OF said company shall be exempt from cor
porate debts; that on the first Wednesday in
August 1860, and annually thereafter, meeting OF
stockholders for the election OF directors shall be
held and for the transaction OF other business
shares OF stock subscribed, to be transferred by
the President and Secretary Of the company at the
optlon OF the holder thereof.
July Il, 1854 the stock subscriptions to the Sioux
CITY anu Pacific Railroad Company consisted or
zen snares each TO the Ane directors named above.
Inc record SHOWS that in November, 1885, the books
OF the corporation were opened for subscription to
lts capltal STOCK, alter due publication had been
made thereof In the State OF Iowa, the terms and
conuitlons OF SUBSCRIPTION being an agreement for
the purpose oil aiding the Sioux City and Pacific
Railroad Company to construct railroad and tele.
graph line ren Sioux City 10 the Iowa branch OF
the Union Pacific Railroad, for value received he.
tween each subscriber, for himself with the dlrec.
tors OF said sioux City and Pacific Railroad Com
pany to pay to them the par value OF 500 Ter each
and every share OF the capital stock OF said com.
pany, under direction OF majority OF the directors
or the Executive Committee, and In a manner 10
be designated by them, in instalments, as NAV lie
required In the progress Of the work. but not to ex
coed twenty per cent the par value OF each share
subscribed In any one month
ON the 18th Of June, 1868, II was officially an
nounced, in legal answer In suit brought IN this
city against the company, that, subsequent to the
10th day OF November, 1896. more than one hun.