The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-02
Il AIHRoiD,S coroSS4L Drnr.
jay Could ATTEMPTS to Deceive Wall street
nnd the GOV r niVnt.


To THE EpIroR or The SUV-Sir: Tho ten
DAYS which were given to tho p c nc raiirn ds IN
waich 10 mike y ropo-ition to the Ju iicl nv
C1mn toe ofthc Ifous. hooking 20 y sc.'iomc nt
Of he immense debts which they owe the GOV
ornmcn'. VIII Lave a p~od with the rf' mt
week. Inc L i'm Faca' IN II esrs art c.loci nv
active in the preparation cf re- l. to the Chair
man OF the committee, n their 20 nts are te-
inr instructed tp vofk vigorously IN Washington
that the promo III N my b accented.
Jiy Gluid be-i1s to re- ~ the + t that tho
propositlors which have been already made
through II iney Dillon stand no chance what
ever Of acceptance. n' ! that much more favor
able offer must lie made on the part of the COM
pany. Lyen yet he does not fully appreciate the
peculiar danger OF his position, ana 1t Is said
that the screme which he will pres Mt t. Of
nature wuch cannot meet the requirements OF
equity.
1t IS interesting to watch his enleavors to get
the Dttler I c"ner,s- anu ne people an u
note Q DIN renee b tween his statements to
ieeisla we n'oie' ana those ~ The investing pun
lie ana Wall street s'erulators
In Nall street he c uses tho most So luctive
repgrtS To De circulated concerning the nnlnciu
condition ct the Union Pa iic Railro d. and Is
niihual advising his ri nds g. inv, st IN Its
Stock and bonds. lie has ngures On txhiDtiHn
the same as iciurcs ~ IN art gallery. by Whicn
he argues that the road ealns mpie than eight
per cent. upon ITS stock ana that Il Is the hest
ms Ictcu. co ippt u, regulated, ana located
line In the world.
In Washington he appeers with entirely differ
en- statcmcns. Ia tat city his agent, button.
hole infuenia l parties and ring the cry Of pnv-
efty INTO heir ears. lhcv pre- the acceptance
OF ridiculous propositions on the % ri II the
company urging that tue concern Is q nation
enterprise, and { 10 Is no. lenieutly dealt with
gre II wrong VIII be penetrated, aud the stock
holders r,bbed of their investments. 1t Is also
argued IN by tie saving to the Government In
the matter f tr inspur ri ton aero the plains
bcnt1t ccfues. which should be considered In
ehcctinR COM rOulise.
The pl.in iacts Of the matter are that Gould
is attempting wdtcdle bJtn Wail street and
TIE Government. lio wants Wall street to buy
his stock and bonds az high figure, aud the
q lvernmcnt 10 consent to some pfeposter1us
scheme Oy which he can make a market to sell
out on. 81 he profits of his bear c.mpagr ON
other stocks have to 10 constantly applied 20
the purchase Of Union P.chc, and to taxing
care Of ans maturing iron blocks OF tnis
"sccuritv" which the leaders refuse to renew
His chief anxiety, Therefore, Is 10 get Congress
t. consent to some proposition especially fdvor-
able q Union Pacliic; or, # 1t does not do his
steps OF compulsory nature, which II has a
f,eht to dc y the provisions OF tue Oh rter Of
the c, rporation. He wants eitlDr to get tho
best SIDE - tue bargain, o. to slave on Congress
siondl elton until n xt We r.
lhe ofhci-ls of tue Union Pacific Railroad adj
nit that the con ern Will owe tue Government
ST1,OOOOU0 IN 1885. They profess to he anxious TO
make arrangements by which 1t shall be pad.
IL they do not pay 10y iustalnents, according to
sidney Diltou's letter to the secretary OF the
lrea ury tue road will be unable to meet the
obligation. In nileteen years The amount WIN
be dLe. SuppOsin. then al the Union Pacific
makes SUBSTANTIALLY thus PROPOSITIONS:
10 p.y up IN one or two ars, from time to
time, the arrears u iniCre {. which amount to
$7,OOu,0OJ or $s,Oo0Ol0. Then to REIN bur.e the
Gov rhnient Sc .ni-lunualh for tue interest pald
out upon the currency SIX :. This uounts to ST.
b3i,hD per aunuul BE ldes ths, to pas % certain
sum into tne Ubitcd states iicisury semi iinu-
ally which suall re sum tent, win com OuuCing
at the &c Il six Der cent. yer atnum, to wtle
out the lrincip.i. S21a.3j.ji2. in lss5.
some Na'ittiOn more tJNo!aOtc to the road
MIGHT De made IN tnu time aoT the p.SIeut OF
tuc interest In arr arr. but otherwise SUN a
flupusi,tun cannot he Con-lde eo as unfair to
Uutu sues. !. l. not re.son bic or jIst that
lnun iarthc should be paving clgut Ter G ut.
dNuendS 1. It's stoc~hoidr.s when no PROVISION
- tDau" Tor paying back the money winch has
been loaned 10 IL hY me Government. l. mus
be b rue IN mind mat toe amount II $1lJU 100,
Nhicu l i al united the road VIII owe tne Gov
ernmen, il 1915, viii DC for unuy actually paid
out To take 4. r. Ol the ia crest aud erm the
bOnds at IN tuilts. IL i clear then, t1at Con-
gfvss viii not acc tpt any Proposition which does
mo- ptoNide Tor prOu.pt aud iuii rep lyment Of
the sun 5 wuicn will Lave been advanced o. il
tue road should nave the favor ot com ouhutng
iittr IL sCtnt-annu-lIy Is Ia UtoNI.lhg 4 the
Iay ct oI the p.incpa, S@.,-jjji3, due III ls9j
VI Cuur- The road T. unuei 10 lhitgaiipn to . v
tuis until maturity. ANA a siukiug fuud To wipe
Out tue ptiuolpai snOuid Ue Increased uy interest
se al uuu ltN.
l. S lIc ,o predict that no propsltion Of this
nu utv VIII he maize Dy GoHld nor Supported by
his uewsl aver. j he Union fdc he itdiirold Is
III ne utre COnd III ~ to lts DDli- atoms %
the GOVernnett either ~ ins,alments or Ia
lcO tnan the Tribune Is to begin tns public alton
81 lilile sheets, OF 20 put up Tue remainder Of
It's ridiculous building. The hOpo OF tue
tribune Is from some Presidential candidate ot
facihc IRON Congress, watch Jay Gould thinks
he can man. ulate ANA wheeulc. SriRABOUr.