, 1876-05-12

was oil built and completed at cost not
exceeding 1856 900 mile.
The memorial asserts that from the
moneys acquired by them in their frauau~
lent contracts with themselves IN bunu1nB
said road, md from the earnings Thereon, Inc
managers have built the California y oregon
Railroad, the San joaquin Valley kall-
road, large part of the Western faclt-
ic Railroad, and the San Francisco Bay
Railroad, all within California, and also
large part Of the Chesapeake s. Ohio Raul
road in Virginia and West Virginia Iha5
from tho same funds thus fraudulontly oo-
tanned they have purchased the California
Pacific Railroad, the San Francisco u OAK
land Railroad the San Francisco j. Alameda
Railroad, the Los Angeles & Son Pedro Kali
road, the San Francisco i San Jose Railroad,
and number of stcamboats. That the
managers have issued bonds upon tho SAID
railroads to the amount of $1S,5o0,o00, and
have divided the proceeds among these four
managers.
That nearly all these railroads have been
consolidated with tho Central Pacific Rall-
road, and these four persons have named
themselves as managers. That the capital
stock of the new corporation is 500, ,oo0,ooo,
and the managers have issued to themselves
$54 ,000, 900, for which the memorial ayers
they have not paid cent +" "except tho same
was paid for from money fraudulently and
dishonesty abstracted by them from the
funds of the corporation"
It is represented further that these four
managers, out Of the dishonesty y-acquired
moneys obtained by them, IRE now building
the Southern Pacific Railroad, and claim to
own said road that they also claim to own
personally oil depot grounds md town sites
along the limo Of the Central Railroad
The memorial makes many other charges
and accusations against the managers, all
containing the averment tha these men have
continually robbed and plundered the Gov
ernmont for their own personal aggrandize-
ment, and that they havo used their wealth
and power to suppress anti prevent oil exam
ination and Investigations into their conduct
in the management Of the property and af-
fairs Of tho Central Pacific Railroad Com
pany. The memorialists pray that Congress
will intervene; that it will appoint CON-
mitteo to investigate the whole affairs Of the
Company, and tins protect the rights and
interests of the stockholders and of the
United States, which are now threatened
with destruction.
This same Company is now before Con-
gress with memorial that the United States
buy back from the Company the land that
was granted to it as subsidy, and that the
United States pay the Company therefor at
the rate of $32 600 per mile Of the length of
the road.
While the infamous Credit Mobilier opera
tions have been pretty thoroc ghly ventilated
and exposed, nothing has ever been made
public concerning the operations on the
other half of the line. The memoria1ists,
who represent themselves as stockholders,
aver that the Credit -Mobiher outrage was
even more enormous on the Central Pacific
part Of the road than On the western end,
and there is probably some truth in the mat
ter. The chiefs in the management seem to
have piled up personal for tunes Of magni-
tude rarely obtained even in California