, 1876-04-25

vcstmonts Of thia kind woro fatally pom
Mar. III common With. hundreds =, of
ps.s of sSs oonn boshs aoo es Of ss
bonds. not 1oIy largo amount paying tor thaEn
ut prcciasly tho aamo raso that others paid. I
nover hoard, aud 10 not believe. that tho Littlo
noek Company, which I know Is controlled by,
70 any rorsop except st Tho regular price a1ed
entity very pronatng. proved unsuccessful. AZ
dd 10 many Similar ptojects about thu samo
tt1no. loHt considerable sum of money,
OVER TWENTY THOUSAND DoILAfs.
by my Investment, aud l prcaume Nov En-
gland mado net losa Of $2,o00,000 In
combating that road for Arkansaa. nj eho
turca Weet and South within tho laat
twelve years. In addition to my Investment in
bonds. I unised With othors In rstsing aono
money for tllo Company Whon 1t met lta first
ing in t,o United atntos Circuit Court In ArEan.
aaH. to which l. am party Of record. for rclm-
bursemant OF tue monoy 90 advanced. All tho
bonds which egoE purchased continued to
in 1874 exchanged tilem for stock md Ionda
III tho now concern, which AtflI own. Ny wlolo
connection with tho road lan boon open aB
day. II thcFo had boon nnsthing 10 conceal
about It nevor should have toachodi 1t. Whe.,-
v'sab'o; md do not know any better tcat to
apply TO tho honor and fairness Of buBncss
transaction.
An to tho question Of. rropr!oty involved In 4
nefnbor Of Congress- holding All Investment Of
this klotl, It must be remembered tho fands
Woso granted to the State Of ArkanEa4 and not
10 tho Railroad Company, md That tho COM
pany derived its lfo. franchise, and yaluo who'll
Ii amenablo md answorab!e, and IN no ser.se 10
CongrosB Since purchased tue bonds but one
act Of Congress has paasod in any WY touching
tho nubjocs, and tGas was msroy to ractify 4
any security, from 9ovcrl!1nent bonds to town
scrip. in offered A. public Bafo to any one WHO
can pay ffr 1t,
EyEAY AMERICAN CITIZEN is FREE TO HUT.
II Yon exclude Representative from lie In
Vostu,out on tho ground tlat In secondary OF
romoto way tue legislation OF CougFcas las af-
fccted Of may affect tho yao OF tho artc1o, then
you exclude evory man On this door not only
from holding Government pond OF ahaso in q
National Bank. but alto from owning flock Of
Bheep, or d field Of hnmp. or tobacco plantn-
lion or cotton mill, OF an iron furnacs. for all
tlcs0 interests vta1ly affected by tariff legia-
la.ton on which We vote at every session. and on
which nu important measure IL cvon now pond-
ing In Committee Of tho Whole.
In tho Reyon intervening ycass sincn tho Litt]o
Nock d Fort Smith bonds nese placed OH the
market, know fow Investments Tint have not
been moro Affected by tho legislation Of Con-
gresa. But thia case docs not require to DO
shielded By anv such compariBonB or citations,
for repeat tho Littto Rock load derived all 1t
had from tho Htate Of Arkansas and not from
Congress. Il was In tho discretion Of CongrosB
to 9lve or withhold from tho State, but 1t WAS
so!ely in tho discretion Of tho State to give or
Withhold from the Little Hook Nailtoad Com
pauy. When the Ltt!o Rock Road fell into tic
financial troubles OF which laye spoken, thora
wore certain interests connected with 1t that
wore unaor
REGULARLY 1MrHEssfY1 ENnAnnAssMENTs,
md that t'neoded roliof. Thoro had boeu. at dit-
fosent times, worry considerable talk about In
ducing tho Atlantic + Pacific load, which, on lib
southern branch. was to DO q couuecting limo
cast and west with tho Lltt!o Rock 4 Fort,
Smith and Missouri, KnnsAs l. Texas 'Hoadt,
which would bs . connecting limo both north
and south at q point OF junction, to atd the
Little Rock ! Fort Smith enterprise BY saking
<pme Of ita securities, q PRACTICE very common
waa oopo compilation OF tho L!tt'o Rock Road
tn tho ppriR gtSs1il Hi, 'TaR9rtanoo. Accordingly
boon passed BY iho 1attle RocK ono coupon bad
| sorios OF its bonds, and mono pnas.y on QUO
other, md whom theso wah . saugutno hop5'n
| atlantic Il Pacific Company took $4,000 Of
tls bonds and 8l00, 900 OF is stock for tho gross
sum OF e70,000, and the Missouri kandas &
To1As, 1t ren,ombor correctly. took half tho
amount at tho aau,o ratio. Thi8 WAS dono
mol for tho corporation itsolf, but for all
intoroat largely engaged In the construction
| OF tho road. With tho clrcnmstances attending
tho negotiation with tho Atlantic j. Pacific load
| WIS 00G1tGIy IHIulilnT auu VIII dtfGE&l u ltb
oflcors ! havo long boon vol acquointod. I
also know Of tho negotiation With tho Missouri,
| Kansas l. Ta1as 1toad, though nevor 10 my
knowledge saw any Of ttB offlcors, aud mover had
An iatorview with any Of them on any subject :;
but in case OF both roads desire to say thni the
bonds sold to thom did not belong to mo. nor
did hayo ono dollars pccunlasy intoroBt In tho
who!o transaction, with otthor company. Tho
infamous tpHinustion mAdc in certain qnattora
that engaged to lao my Influence In Congress
for ths Atlantic l. paciao Noad. and also for tho
Missouri, Kansas l. Tc1as in consideration Of
thoir purchasing theso securities.
HARDLY htEu1Ta NOTICE.
Tho officers Qud Directors OF both Companies.
10 fnr az hayo known ono aud heard Of otiiorH,
nre high-tonud, honorable Eentlomcn, and thcy
would hAyo justly Bpurucd mo from their pros.
cncn had been willing to submit al ot1er II
tiislonorablc ard mutually degrading. had nj
hnyo loyed lmfamYsfor iufatny's sake Ind bar.
tered my personal and official honur In tllt
transaction mud am sure that oyery nhn cou
noctcd with either Company would terel tho dig
lloportng suggestion na warmly rs do myself
Tho whole affair had no moro connection Will
Congressional! legislation than any ono OF tct
thousand similar transactions that ar
constantly occurring H. r,,a1 tho ,x,' n''Spas .
insinuatlon Inas anawerod is that which, IN II
irresponsible ard ano,ymouB way. attomptH u
cotit,oct tho ownership OF Little ltock i For
Smith bonds with tie legislation OF taat Tlntc
+ respecting tu0 DtAL4 t0fBEuuclk "
rbero arc aome nccnanstons Which 1t ts d,tlicu!
to ropol with sufficient force, because Of tl'c
mixture OF absurdity, dcpraylty mud, falsohood
. ] never hear! thia Btupld a'andor until within
fow days, asld venture to say there In not . r.
sponBiblo man IN the country OF tho Hllghtae
. aunao who eau discern tho ronotcat 0onncot}o
between two things that arc allogod to ha7a q
Intimate mud Infamous relation.
sUMM1S0 TT.
Lot mo now+ htr. Bpeakcr brlef}y Gummarlz
ulIat have proHontod: ......
F,rst-That tho story Of my receiving s6i, ,00t
| or any other sum nf money or 0th0r thing c
!, yalue, from tho Union Pacific liallroad Cnmpan,
directly or indirectly. OF In any form, III abst
, | lusoiy asprovod BY tho most conclusive tost
, mony.
Secoui-That no bond OF mIno VAS aver sol
to the Atlantic l. Pacil!c or tho Missouri. KanBs
Il ToxtA Railroad Company, and TINT mt
single dollar Ut money from either Of theso con
J panea over went 10 my profit or honatlt
, Ihird-T4at inBtaad of recotylug bonds OF til
! Little Isoek i ros& 6ntl, Road VI \ gratnty,
:. 1oyos had ono except at tho rogulhs mark
, price, and That tnstoaA Of mixing largn fostur