The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-12-25
WASHINGTON.
shori Session oitIe uonse.

ShuE& otNbAVh VI 2hc AAVhNOs
WAsHiNoroN, December 23.-The ses.
sion Of the House to-day lasted only
twenty minutes, and not more than fifty
members were present.. A resolution
from the Commerce Committee, making
inquiries with reference The Presidents
distribution Of the river and harbOr ap-
preparation, was adopted.
THE CONGRESSIONAL PRINTER
Has asked for deficiency appropria'
ton Of $350,0O0. The deficiency is due
to the printing Of the reports Of the num-
erous Investigations Of last session.
p Mr.. TILDES's "PoLICY."
The visit Of the Caucus Advisory Com.
niittee 10 New York Is for the purpose, il
is stated, OF counseling with Tllden, who
has prepared a policy which he wishes
them to consider. Precisely, what his
policy is is not known; but it is known
that he is strongly convinced that he il
elected President, and is determined to be
inaugurated.
ATwELyETHousAN DOLLAR ROBBERY.
A few days ago a package Of $4,000
was sent from the Treasury 10 a Chicago
National Bank, in exchange for fractional
currency. When the package was opened,
however, It was found to contain nothing
but brown paper. Where the robbery
was committed, and by whom, Is troub'
ling the Secret Service force just now.
THE PACIFIC RAILROAD DIFFICULTY.
The Government Directors Of tue Union
Pacific Railroad Company, in their re.
Fort Ifor the year 1876, say: The ire.
quency with which conflicts relative TO
the construction OF the Union Pacific
Railroad legislation have arisen has
brought the Government Directors to
consider whether or not some adjust
ment Of the whole case can be mutually
agreed on by the Government and Com.
pany, which shall put an end to all con.
troversy between them, and settle defnit-
" the manner and time OF the Govern
ment's re.imbursemenis. They say that
it Is not practicable for the company to
pay the Grst mortgage bonds and tho
S64, ,2G2, ,5l2 which would he due the Gov.
ernment at the end OF the thirty year
term. II would, therefore, seem to be
better for the Government and Company
to agree upon the establishment OF
sinking fund, which shall reduce the total
Indebtedness OF the company TO the Gov
ernment at the end OF the term to, say,
$25,000,000. This can be done without
arrangement OF the company's affairs
and leave sufficient earnings 10 provide
for reasonable dividends on the, capital
stock. II does not seem to be wise to reject
this element in the case, viz: that property
which returns an income on the capital
which it represents is always better cared
for than that which does not. II Con.
gress should authorize such an arrange.
ment as is here suggested it Ia believed
the company will concur and the result
will be that tho Government will
have all its interest refunded dur
ing term OF thirty years, and have
the principal OF the debt reduced So, 1885,
5l2. This would leave one road at ma
turity Of first and second mortgage about
$1,000, ,000,as bridge bonds will have been
either been wholly paid or for such bal.
ance Of said bonds as may remain unpaid
at the time, sinking bonds can be pro-
vided by mortgage on the lands, as
the land grant bonds will have been paid
of by sales Of landa. To provide
for tbe iffty.two millions Of dol.
lars Offset mortgage bonds and the balance
due the government let new mortgage
be authorized by Congress. Let S25,0O0,
900 OF the new first mortgage bonds be
placed with the government Us collateral
securities, to be redeemed as fast as the
company can sell them In the market at
not less than par, and the accrued'inter.
est for any one year be not lS@ than 10
per cent Of the amount, besides paying
the coupon bond rs it natures. There IL
no ground for reasonable doubt that
a first mortgage long S per cent
bond to the amount OF S25,000,.
900 would be an abundant, ssfe|
and popular security now, when the
practiCability and certainly OF the scheme
Tor securing return to the Government
Of every dollar which II has invested in
he Union Pacific railroad is assured. In
connection with the great advantage and
saving 10 the PostofIice and War De.
partments as following from the indirect
benefit that has resulted from the con.
Struction Of the road, it may be safely
said that no equal outlay Of money has
ever produced as profitable return.