Carson daily appeal. [volume] (Carson City, Nev.) 1873-1877, 1875-06-17
THE ILL-NATCRED MISREPRE-
SENTATIONS OF SENATOR
JONES' FINANCIAL OPERA.
TIONS.

Francisco Post which has been looked on,
doubtless with good reason, as a sort of
business organ of Senator Jones,-has
presented the facts concerning his re-
ported loss of money through the sharp
ness of Jay Gould. in specializing in
Panama railroad stock. 1t is not al
together the most generous spirit which
displays itself in readiness to credit the
story of the taking-iu and doing-for of
one of our most prominent Pacific Coast
citizens, and to jeer at him for foolish,
presumptuous fellow who took his pro-
vincialism to the metropolis and got the
hay seed combed out of his hair. Better,
We think, to stand up for our fellow
Coasters and believe them sharp and
lucky till some evidence of our own
proves them green and gul!ible. As to
Mr. Jones transactions in Wall street.
we believe we are authorized i'll saying
that instead of losing money there, he
made money-made il, mainly, in specu-
la.iDg in gold. As to his deal in Pan
anna railway stock, he and his associates
did purchase largely and did not sell TO
advantage. But they die not sell at all
nor seek 10 sell. They found
that Panama was Jay Gould's weak
place He had secured control of the
Up line of railroad and the Pacific
Mail Steamship line; and if he had got
a control of Panama he wouid have been
able TO dictate fast freight terms 10 the
people of the Pacific States As it is.
Panama is the key to the situation.
This key Jones and Park and their as
sociates hold in their own hands. And
now as to Mr.. Gould having caught
Jones in q trap: How did ne do it? In
order to have been bear" in Panama
and Jumped in the market, he must
have owned a good deal of Panama
stock. The fact is he did not, nor does
ne own a share OF it. Jones & Co.
bought their stock TO hold and they hold
it yet and mean to hold If. If Gould had
held it or could &c. il he would not part
with it. even for the fun OF doing Jones
out of 500, 900. The probability is that
this story of Gould's sharpness origina-
ted in one of his many organs. He
wanted to sustain his reputation for su-
peyior shrewdness and so this romance
was invented. 1t is romance and the |
people of the Pacific States have reason |
to be glad of it. Says the Post reporter: |
PANAMA RAILROAD AND PACIFIC MAIL.
Eeporter-What were the negotiations |
between the Panama road and the steam
ship company, Mr.. Jones?
Senator Jones-The fact is that before |
we got control of the Panama road it |
was but tender to the steamship COM |
pany, managed by the same Board of |
Directors, and forced in everything 10 |
give way TO the interests of the steam
ship company, although having the mo-
nopoly of the Isthmus carriage. it really |
had control of the situation. After
our purchase l found that the
Union Pacific Railroad had control of
the Pacific Mail through Jay Gould. In
stead of being our allies, which they ma
turally should be, the mali company had
joined the ranks of the opposition. After
the combination with the railroad the
natural instinct would be TO throw all
the traffic they could that way, and thus
cheat Us cut of our legitimate business.
OF course the main object of the over
land railroad companies in combining
with the steamers was to raise the rates
of freight. These advanced rates will
increase their revenue about S., 900, 600.
Now We had a direct interest in this, as
by our contract with the steamers GER
tain share of this freight which was thus
diverted overland belonged to the Pana-
ma Railroad. II they put up the rates
so that nothing would come our way our
contract would amount 10 nothing. A
meeting of the Trustees Was called to de-
eide whether We should continue the
contract. l offered resolution dis
solving 1t, which was passed and
We gave the required ninety
days notice to the Mail Company
Mr.. Park and myself were chosen to re-
open negotiations with the Pacific Mail
Company. We said to Mr. Gould that
in his attempt to control all routes from
the Atlantic to the Pacific he had for
gotten one important factor in the cal
culation, to-wit: The Panama Company,
of which we had control; and that the
control of the Pacific Mail Steamship
Company was BY no means the control
of the route NOBODY has a MONOPOLY