New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-05-27

Government toward securing reimbursement Of the
amounts paid for interest and the several acts Of Con-
gress on that subject It also refers TO the various suits
the Supreme Court the United States the Court Of
Claims and the United States Circuit Courts in Massa-
chusetts, Kansas Iowa. and California and saws:
Before proceeding 70 inquire whether Congress can
ADOPT and enforce any new LEGAL remedy Tor tue Untei
states which shall be eccual to protect it against nt
mate loss under the decision of the Supreme Court that
the interest naid by the United states not renhrs-
aole until 1898, may be well to inquire what amounts
transportation moneys and the per cent OF not earnings
without any further legislation by Congress The Union
Pacific Railroad COMPANY has furnished ronr committee
with statement Of the amounts which the Company has
charged 10 the Un"d states for services rendered from
of these nine years is S7,290,25o 80; average
yearly amount earned in nine years. Ssl0,02s 10 or
Oh %. TO this add five per cent o the amount OF which
TIE Company limits arc net earnings, by declaring y
1861 10000; dividend, $29s 900; five per cent upon
lied up0n from the Union Pacific Railroad Company,
T5JOOl4 %. No statement has been ,c"ived from we
Cenlral Pacific Railroad Company as To- Tue amounts
the statement presented TO the Secretary OF the Treasury
some weeks showing the undsnuied annual amount
be relied the Central Pacific Railroad Com
pany To he S;S20,i96 II.
report declares that 1t IL apparent that from
tie above sufficient cannot be realized
toward the reimbursement of the principal and interest
the bonds issued by The United States In all OF the
companies ana it evidently desirable that some new
and additional method Of providing for the Government
Indebtedness should he discovered and put IN operation
either by mutual voluntary arrangement between the
railroad companies and the Government, or by act OF
CONGRESS- enforced upon the companies against their VIII
in the OF the act not satisfactory to them The
report then discusses the power Of Congress to Obtain
from the companies against their will amounts
in addition TO the haftrauspOItation moneys and per
cent OF the net earnings The propositions made by the
companies 20 surrender certain lanl at - 80 per acre.
TO be held by the UIiteI states "a sinking funi, &C.,
are next referred 10. and the report says:
After tho most careful examination and consideration
Of the subjcc in all s BEARINGS wnicI have ntcn sI-
ested the COMMITTEE has concluded To report bills for
settlement wC the two largest companies when 'hi-
the rctrtnsfcr tine OF portion OF
the lands granted 10 the companies IN aid -! tue cor
strucon of their roads, credit upon the Indebtedness
reduction thereof Oi the value of the lands rccoNeye
at - % and the pJ} mont 10y the companies OF
such scmi-lnnual into the treasury WILL with the
sinking fund sufficient Ia iuiatc the balance oi the III
dcbe1uess the maturity OF the bonds Every dy that
such dement, l. dccrr makes II more dli1 MT OF
accomplishment, and the terms discussed may be
sires OF the To- ayUid cOuiinunlis litigation aIh
assaults upon them tnan of Intention 10 luly pay
their debt TO the Government.
In conclusion the report says:
The new agreement being the whole advantageous
for he Companies " is fair prrsum, tnat they VIII be
both anc aud wi ing TO carry 10 LtO execution iiith-
fully SIou.d they not be ac, however, the Govern
have received all the payments wlirn VIII nave he'n
made OF tine d.lirc OF che companies. ana
its second mort gage Fn which hth been ia
way waived Cancelled, or Released except &" the
with winch tue latter in any extent entitled to be
credited