New-York tribune., 1876-02-01
4 UNION PACIFIC PROTEST.

SIDNEY DILLON'S LETTER To CONGRESS.
The COMPANY NOT TRYING To EvADE IFS REsPoN
sIBIIIrIEs-WIILING To ABIDE BY DECISIONS OF
TIE CoUKrs-AN OFFER OF The COMPANY NOT
YET ACTED on.
WA,uINGToN, Jan. 31.-Sidney Dillon, Pres
idont OF the Union Pacific Railroad Company, has ad-
dressed a letter to Senator Edmunds, Chairman OF the
Committee The Judiciary, in which he says:
SIR: Various bills have been introduced n;o the Sen
ate and referred to tie Committee on tho JudNlary
hostile to tho rights OF this Company ana IN
plying u charge of unwllngnes. on IL
t.oycrnmcnt. Allow me, therefore. TO call yonr
attention the Tact that all differences between t1c
Government and that company, IN respect u the llEns
aud duties Of he latter under the contract contained ia
he ort. 81 l,t;J and ,6t under which the Pacific Rail
road was butt, were, by express provisions OF TIC act7
u r1,,rp.d to tbe C"urts of tue United states
for final dec sion Unlo the act of March 3, 1873. the
claim Company that the Interest paid py the United
s,,ie. ON te bombs ISSUED by the Unlted the
aid construction Of tne road aud secured by
second mortgage lien, Is not 10 Do relpuistu .! u'
company until the maimiy Of the bonds
themselves. except by laf the transportation
uIon-y or Government business. ana that The
otncr haif of is to he paid to tue Company
u cash, has been uiiy argued and consd-
oicd before the Court vi CdimS anu oi apeil peole
he supreme Court Of the United -iate'; an hg claim OF
the Company fully and finally allowed and ah'Ined by
pdr the act of Je ~ 1874 the claim of the United
ior hy per cent o. tue alleged az 'arnng' oi ih,
road. Oylug various doubtful Questions 9i iac ii ol
law. la, b. cn put ia sdlt III lho plolcl i"'eu .
,nir; and 1t is unnecessary 10 say hat. tu tir bha
iu that suit tin Company VIII in"ri Nuh-lN
pany submiticd to tao SECRETARY OF the
treasury positions Tor the substitution IN place of Inc
,oubtmi aud luctultng payments derived ~ "llhhOi
ing transportation moneys, and fr"n . per c'ht
OF the nct earnings OF tho road, ot tine payment
Us tu. Company of large definite annual sI!n.
t1 be carried 10 the sinking Fund for account Oi
I t,OyetnIlcnts second mortgage; SucD annual pay
mrnt To be, continued until liz u redemption. The prii-
cipc tho,' propositions was Us tho Company under
stood, cordially approved by the Secretary OF the
Treasury aud the Executive. IL was deoIned
advisable for both parties, anu ,espe.idiy loi
payments should take tne place of uncrrian
and variable nts and the propositions ouly faled
Con by reason Of the tCnr,s OF the
session aid tho unHiluSncss OF the Executive 10 nitro
necessary nn extra sr-sOn The foregoing op @iionS
IL Is to be mimi, were made b. tne COMPANY al
time when It's clahls-that the INT rest pal ~ th
Government on its bonds could hc reclaimed
nly Al the maturity was disputed and In litigation and
wlibi spOrdtlOn moneys were OcS itt.lbi ~
tho United states. since which time the csIl hic pl
tie toupAny brcn sustained 10 the lutst extent u!
the Courts OF tie United States, To when Congress
directed lis reference. 49,
IN Wow all these facts, to full and candid consde-
alton whicn the attention Of yourt Nteu
the COMPANY sensitive TO- and drptcjt"S any atlcpt
G. impression IN tui.-tcHa OF Miu th
publc, that IL svtks TO eNadc any ol itS lrSai
Obligations under the contracts made Win IL
hy the acts OF lS63 and lS6i. Those OBJ "a
tons. they may ceaIy appear, OF az tatS ma!
a nnay driued tli iIod by the courts, the Company
will rucay0I faithfully ANA fully 10 carry out un!"7s
modified or changed by agreement between TIE parties
To tLe contract, and iOr the mutual ad'ahtd5'
Company il wiling T. enter into AZ any time contract
win the proper repTes natives OF the GoFeihL'ht
Meantime it entirely certain that the United states
a second m.rtgaee creditor OF The Cm amy, iS more
than any other person corporation. YtHl interested
in protecting the Company and maintaining It's cfedll
aud financial STANDING.