The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-04-28
Jay ooULD AM UNrov Pierre.


To TIE FDiroR or THE SuN--SN. jay
Gould las been beaten padiy IN his ATTEMPT to
foi4t trc worthless lands IT the Union Pacific
II road upon the Government AZ rate f$"6O
p,r ere. and the urostects of the corporation
are al tl.cuo-t dismal character.
Tho schcu 90, when has been under considcra-
tion bv tic judiciary Committee. and which has
teen rejected Nv that lody, originated in the
fcriil. brain of jay Gpu'd, ana was designed to
be put through quietly, In order that he might
ind market for the immense gu nifty "
Union Pacific stock and bonds which he holds,
but cannot sell.
when GnuIi first thought ~ this scheme to
sell beck lands to the Government which were
so poor nat no other purchasers could be found
for them, he perceived the fact that any mention
Of his namo In connection with the project
would be fatal to ITS success. He therefore
made an arrangement by witch the Central
Pacific should appear as tho first suppliant for
national r. IT, Notwithstanding that II ~ app icA-
ton should Ds faVtfabiy received, 1t would he
dimcut Tor congress ~ deny the same arrange
ment t. the Union Pacific.
some little time, Therefore. after the Genital
Pdcnlc ltairoad had nude rs oner through
Huntington to -all back It's lands to tho Govern
mcnt NJ the rte Of s. 81 rer acre, the Union
Pacific put In similar proposal
The nds which the Union Pacific proposed
to sell are uited west Of the 1Oith mefi ian,
are mos, Of them absolutely WORTHLESS. and az
gtegate about 5,OOOOO of acres. II wa proposed
to place the purchase price f,bout $I2 $4,000 ~
the credit Of the road 2 a sinking fund.
with the amounts which yearly accrue from
Government transportation. aud with Interest
compounded miannunlly. the large sum which
tue road viii owe the Government in 1895 would
thus he iquica;ed AZ maturity.
A. soon a. this Offer was made bv the Union
Pacific ilrOad, Gould sent bis agents to WASH
iuLtuu with Instructions to do their best to IA
vorably IMPRESS the judiciary Committee with
the adv ,niagcs which would accrue t. tue Gov
ernnent by such settlement Of the veXed
questions. -
Ing characters Gould iesan to believe that tho
srnCuc would he carried through. and that he
W Vii be- en tulcd to induce d nig Gun spccula-
ton, aud unload his STOCK upon the street at
f. iu - To ~.
Tie judiciary Committee. however, looked
into the matter yer, carefully. and. az a % turu
Consequence discoveries that tue Govefnmc q
would Toe swindled in he most outrageous man.
Ter toy the acsclttnco OF tho propositions u
seduc i've Arguments 81 Guuids agents were
suipp Il Of thcir supnistfN, and Tue committee
rcruft 4 ~ Inst OuNing the lands.
Not only ths, out the Presidents OF the re-
spectivc railroad corporations were invited hy
| Il directors authOnz d t. prutiuc Tor tns taN-
ment ot the interc-t aud prnrtpal ~ the sums
advanced by the government u aid IN the COM
Gouil'- agents arrived in New Yorl, recently.
! ANA reported to MIN per- Jnall.. IL /. sid th4t
Tie interview was hot AT an l--Stlit
| one. and that the projected bul movement ut
IN Union Pacific has been indefinitely post
| poned The NEGOTIATIONS In Washington nave
| h 81 the effect Of causing a close scrutiny -
! every measure Ia which any jpD Is likely 10 be
| hidden. aud lavish tXpcndiluie Of money would
| be of no effect Whatever.
Il ~ sad that the Union Pacific. being barred
from any proposition booking to the trans fer NJ
| LANDS To- the Government IN set lement Of the
| S11OE.U O due IN 1875, will submit a proposition
The Government to figure its cl i'm for princi-
| pal anu iuterest up 10 the present time the
amount Is ABOUT S}5CJ1,UOJ The company VIII
| issue a mortgage upon the road ana lands Tor
| this am uunt. payable Ia thirty years, aud agree
t. kcep u the interest II released from the OBJ