The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-04
GENERAL WASHINGTON DISPATCHES

SeNStuSA- vvSoTttN9i Wv OGST6l SVGSs
WASHINGTON, April 3, 1870
TEE cxNTRAL PACIFIC RAILROAD PRoPosI-
TIoN-suBsrANcE OF THE BILL
The bill introduced to-day by Senator Edmunds to
sinking fund for the liquidation of government
bonds advanced TO the Central Pacific Railroad Com
pany embodies proposition submitted to him chair
man Of tho Judiciary Committee by Vice. President
Huntington in behalf Of that company, substantially
folows:-
The company is to convey and release to tho United
States all the unsod lands hitherto granted It In the
State OF Nevada and in Utah Territory and the sece
tary the Treasury hereupon TO place to the credit
Of sinking fund for tho company the value OF these
lands computed at 81 50 per acre. Tho company will
also into the Treasury for account of this fund the
proceeds Of any such lands hitherto sold by to the
extent OF the excess II may have received over and
above 81 so pcr and the OF surveying. Tho
third section OF the bill directs the Secretary OF
tho Treasury TO carry 70 the credit OF this sinking
fund all amounts due the company for government
transportation up 10 the LIST day OF last January,
which If not amounting at said date to 81, 600 600
shall DO made up TO that sum by the company The
fourth section requires the company to pay semian-
nually into the United States Treasury such In
money in any United States bonds securities at
par SHALL with interest thereon hereafter pro-
vided DO sufficient when added to the other sums to
the credit or said sinking fund TO pay on the govern
ment subsidy bonds with six per interest thereon
from their respective dates up TO maturity Interest
all sums placed TO the credit OF said sinking fnnd
must be credited and added thereto scmannually ut
tho rate Of six per cent per annum. The payments
thus in lieu Of all payments other require
n,ents from the Central Pacific Railroad Company
under any act Of Congress in relation to the reim-
burscment to the Of the bonds issued to It
and 10 the Western Pacific Railroad
THE EMMA NINE INvEsrIoArToN-LxoN 81
vERELY oATRcHIzED.
The cross-examnation Of James Z. Lyon was con-
tinued before the Committee OF Foreign Affairs to-day
He desired to make explanation concerning his
testimony Saturday Instead OF visiting Salt Lake
in the spring OF 1870 It about the 1st Of September
the last Of August subsequent to the preliminary
examination before Judge Brady which was in July,
1870 therefore ho did know tho value OF the mine
until he visited Salt Lake, and the working Of the
lode In which be previously claimed interest This
explanation, he said, made his testimony perfectly
consistent
Mr. Chittsnden, Of counsel for Schenck, said that
since Saturday they had communicated with Salt Lake
and received telegram in reply that Lyon arrived
there the ed Of May. 1870 Mr.. Chittenden asked
whether this Information was correct
Mr.. Lyon answered that no had telegraphed TO the
St Nicholas Hotel ~ the he Loft there 70 20 TO
salt Lake. and was informed that IL was the 18th day
OF August
MT. Chittenden-Have you any recollection that you
arrived q: Salt Lake about the ed day Of May
1870 A. do not know.
Q. Then you will not answer that you were In Salt
Lake early as May, 1907 A. think vas there In
the spring, but ! do not know positively.
Mr. Ivan In eha ofth
was INTERCEPTED length about what he had hereto
fore stated concerning transactions in Emma mine
shares In London by General Schenck Park and ohers
Hc believed the Emma mine business was fraud on
tho British public; but he took means to inform
them OF the fact as that was not his business.
O Did you swear before this committee that Park
ever told you Of his giving shares anything else to
General Schenck to induce him become Officially az
ISOLATED With the Emma Mine Company A l nevor
stated that Park said that he had given Schencx
shares to become director; do not think he used
that language 10 me.
Q Did you at any timo have conversation with
Park and II 70, when tho subject Of tho arrange
ment" with Schcncks You having testified before
the New York Court that Stewart you that such an
arrangement had been aud your answer then was
sNo, sir; don't think had" Do you repeat that
answer nows A have recollection OF his telling
mo plainly.
Mr. Chittcnden asked Mr. LYON, who had referred TO
conversations with Colonel Baxter, whether he ever
had word Of conversation with Baxter his life.
Mr.. Lyon replied he had had than converse
ton with him. On one occasion IL about the
patent Of the Emma mine. He wanted to know Of Mr..
Chitlenden what the "catch" .'rick" waa Mr.
Chittendcn replied the patent there. Mr..
Lyon said no believed he IL there. He called 10
satisfy his curiosity 10 the way the carried
person than himself was present when Park ALLEGED
spoke TO him adversely OF the Emma mino. Mr.. Lyon
answered he believed that both Stewart and Park
present when tho question about satisfying tho
English shareholders why taken out Of the
mine. Stewart, on that OCCASION said they could
represent that work could not be during the
winter account Of heavy SHOWS and that there
money enough In hand 10 pay dividends for
months Park intended sell out on tho strength OF
that
q Did you not positively swear In New York that
no one present during that conversation but Mr.
Park and yourself A. believe both Park and
Stewart was present, but four years having passed
could not be certain.
ended
Senator Stewart for Mr.. Lyon in his litIga-
ton concerning tho Emma mine in the spring OF
1871. was examined by Mr. Phelps, aud testified that
when IN Utah tho more they learned about tho mne
the they became convinced Of its value up tho
time the stock was placed tho English market
When Stewart wrote letter 10 Mr.. Lyon saying that
in certain contingency they would be lighting for
worked-out mno he did not Lyon interpreted It,
mean that ths mine was worked out
The committee adjourned Till tomorrow.
THE PROPOSED TRANSFER OF THE INDIAN BU-
REAU.
Tho House Committee Military Affairs unani-
mousIy adopted the report this morning transferring
the Indian Bureau from the Interior Department 10
the War Department