, 1875-03-10
RAILROAD NEWS,
A1r. James T.. Joy Replies to MIR.
Brooks Card.
Why It Was Necessary to Secure tue
River Roads.
Annual Report oil tho Union Pacific Directors.
e'he Railroad Fight.


MR.. j. F. JOY.
REPLY 70 THE CHARGES AuA1SBr Nis MANAGEMENT.
aTr. j. +. Joy haa written long letter ep'ying
to tho cilargea na1o againHt him In regard to
tho management Of tho Chicago, Clinton L. Du-
buquc, and Chicago, Dubuque 4 btnncsnta
11ailronds. Ho begins by Hayiug TINT The card
Of at, Brooks and othors, relatiyn to lilo rerort
Of tho COMMITTEES ia the matter of the aboye-
named ronds, Las not tho firm aud manly tono
which 1t should hayo carried. and which, under
ali tho circumstances, they all hal rieht to A.
sutno. Il vas particularly unjust tn Haying that
tloy oil acted so!ely upon tho judgment Of
Wcstern gcntloman Of tho highest probity and
tho largeet experience and judgment iu rail-
roads, thus allowing tho chief ce1,sure, whicl,
alwAyg comes from any mistakes 10 p]ans by
which they become unsuccessful, 10 fall u,on
bin alone.
,fr. Joy then takes Up tho history nf tlls NO.
gotatious. 1le Bho"s that, a. tie time the cou-
tracts for these roads were 1nade. ono Of tho OBJ
jectB was to prevent tie building Of the Chicago
l. lows Road from Chicago to Delloyicw % ,nles
Bouth OF Dubuque, which would If built, Iayo
taken away much Of tho business Of the CHI
cago Burlington i Quincy. lie dc.Rils the no.
goliations by which this project nns laid asiie,
and tho project Of the "rlrcr roads Bubhi-
tutcd for It, and shows that It waH not the In-
buQue roads n1one which wcre the subjects Of
confederation.
THE oDJRcT TO TIE AcC0Nr11aHED
WAS much larger, affcctiuG mauy interests, and
it could only bo dono by joint contracts Of thcm
all, which bad to bo approved by the respective
Boards. The success Of part bns been COM
.pleto. THO Chicago i 1ova was stopped at Att
so1a and Eorrestos, aud 1t tnltes both ihe freight
aud tho passenger business from tho Northwest
for tho Chicago, Burlington l. Quincy Railroad.
aered 9 to I'LL beeaso ho 81 bu5uae 4 roads 's sost Ut
.noro thRn it was estimated thoy would and they
should STILL in his Judgment, IL commanded by
tho Chicago, Burlington Quincy lsailrosd, aud
AgAD M1HTAEE
viii be nsado II this IL not done. In connection
with aomo road thoy will grow TIP INTO very i'm
pnrtaut lines. II thoy passed array from tho
Chicago Burlington 4 Quincy, section Of Its
road will bo Of little valu0. ~. would bo batter
Judgment, all tic money necessary to complete
tho road to Clinton, and tho Turkey Kiyer
Ulaucli, TO tho Iowa Pacific, UPON tho colo cou-
tition that It should retain tho buAincpB to aud
from Chicago in connection with t, rather tha'a
loso II forever, as will be tcse dubuque
roads paHs INTO tia control Of the Northwestern
or Illinois Coutral ConpnneB.'
1t iB evident that thiS programme must havo
occupied the attention Of severn! uacctugB of
tho Board, aud 1t wns unanimously paBsel upon,
Including 1ir. Forboa, uho has '.admiscd htH
{1oy'H) Integrity for period Of thirty yeayH of
intimate buslnoss intercourse aud wllero Ho
lsrgo plan was approved md voted for, It would
not quite do to plead that thoy did not attend to
examination and solely upon tho judgment Of
nuother n'an, however honest, able, aud expe-
rioncGd. lie was attacked by A1r. Forbes be-
CAUSE
AsIS0I.E MISTAKE
"as made in ono pait Of comprehensive aclomo
In the cost Of carrying 1t out to success, AMI bc
cause, for the purpoBo primarily Of controlling
the road north Of Dubuque, which could no:
othorwiso DO done; some OF the Board purchased
shares In tho Construction Company.
II would not havu required much than slesly
policy and good faith with regard to arrhnReucllts
rnao with ts 1ow4 lhtac, and revival of the Rc1-
bo hoped. to mako the bonds 1t tie River or Dubuque
Resds equally good.
Dubuque 10 secured In the why? will be asked,
Those who have followed thus far Will noto that tho
business Of tho 1oad passes between Chicago and Du
Illinois Contra! " miles, over tie Chicago i lowa
about TIC taie dAtAnco md 30 miles osss TIC Chicago.
lou Wg e csssS fnsse onsy ssr
tra!o conract for ~ ri1ea of road. make sch ie
in.nl There waa 10 adequate consideration, and, Il
demanded, It should he Tor the th5co companies
Ing tho ltncs which tho ItSil-sxs SHOULD pasa.
Ths denaud lii favor Of Chicago, burlington i
complied with. The only way open, therefore. VA
the purchase Of construction ttock thing With was
not Recommended for CA'eago, Burlington \ Quincy,
uoarl u II had been. Several iadlstduuis oi the
Board dtl units for this purpose, and nsado the pus
permanently 10 hnd tbs Chicago, Dubuquc r Mime
sota company 70 that 4 wenM 10 imloeA!ie at any
G4,rGt for II, though It MaA not supposed that the
lunoY Inverted would DO lost, has bcen The case.
lie would be ashamed. and 10 shuuld they
all, II, after having been 80 careful 70 bind thcso
roads anu their business up to tho Chicago
4, tnEtf
the Company loosc, 60 that tho Northwestern
could have picked 1t up aal defeated all their
efforts By sending the business over its own
road from Clinton to Chicago Had they not
Rotten tho door would hnye, boon left opon for
sucE MI invasion, Of what they 1ncans should bo
tho domain OF the CLicago, Burlington i Quincy
excluglyely,
In regard To ...-..
TIE CONTRADICTION COMPANIES Il
ThrI ars formed under tho lsw Of Iowa, and:sro =.
sonssneni nsAns ot vnllti!ng benz capital q he so
st%c1l. tut thsy y. hela y isw .tris.Iy 70 pay I'll
syo " cr M aSxon. s'' fly .na
sh!y lnais ,aoey by 'hcsr eata5prsso. They may also
y e xa' 1 Sa M Wy xs e F I'D
taster. ftc construction contract doea not in Any
eKfec ya5y Or change ~ liability enacted y to
form Of 1le contract has no meaning in Il,
Tho naulo Of Construction Company hai bo.
como oious, but certainly not because tbeso was
anything wzonR III them. Thsy woro approved |
BY law in many States, aud without such ~ ip-
stitnsion tho Union Pacific could not lave beon
built.
UNION PACIFIC,
ANNUAL REPORT OF THE DIRECTORS.
Spte1dt Dtspateh.to 7hf Chleaao Irttnu.
HosroNs Marcl 0,-Tlo annual report OF tho
Directors OF tho Union Pacific iailroad Com |!
ANY, to 10 submitted at tho annual meeting to-