New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-02-08
RAILWAY INTERESTS.
PACIFIC RAILROAD COMPROMISE.

SECRETARY BRIsrow's REPORT To TIE HOUSE.
WHAT SIDNEY DILLON AND MR. HUNTINGTON
PROPOSED AS TO 4 SINKING FUND-rHk IDEA
F.yORED ny THE SECRETARY.
WASHINGTON, Feb. THE Secretary Of the
Treasury to-day responded Senate resolution OF me
26h ult. requesting him to submit copies OF any prOpo-
sit made by the Pacific Railroad for the creation OF
sinking fund for the redemption OF the Government
mortgages together with statement OF tho action OF
tie Government thereon, and Of the reasons there
for. flo transmits copies OF communications ad-
dressed to him In February OF last year by Mt.
sidney Dillon. President Of the Union Pacific Rail
road Company. and Mr. G. p. Huntington. Vice President
OF the Central PaciAc Railroad Company. containing
their respective propositions for settlement or the nif-
trcnccs between the Government aud those Companies,
and says thcse the only communications received by
him from Of the Pacific Railroad Companies IN re-
gard to the matter in question. Ihe proposition OF the
Union Pacific Railroad Company was, in bfef, as fol-
lows:
First That the Covcrnmcn shall retain in the United
states Treasury the amount estGiaed at about SoOOOOo
then claimed {" j" due 10 the Company Tor tfhHpoith
ton ana mai service, and that thT sum ,ogeler n
interest AT six per cent, ~ be- compounded every six
months should constitute sinking iund 20 me ore Oh
S,rond That the COMPANY should pay into the United
STATES Treasury 100000 every SIX months dltlnS
period oi len years. beginning July l. 1879 sJ1JOpo
eycrg six months during the succeeding ten years and
until THESE pIy,nis together with The interest on chem.
COMPOUNDED scintanriay, added 10 The rest OF the
iull amount 0f The G"irrneut mortgage rc'hOheu ~
simple interest 80 the date.
Ihtrd: That the Government should l'tdlh tlp year,
and credit to the Company account Ui me q ore aid
due Size Company Tor me trdhrp"id
ZION and mail service, the Company 10 MAKE 5o"u ANY
driit ffucy.
four'h That these payments shoui bc In iuil scc-
mont ~ al claims aud demand, by or ON bchIi Oi the
Government against sa!d company.
The proposition Of the Central Pacific Railroad Com
pluy wa3 Identical with tho foregoing. except that u
ialdrI semi annual payment nf *lUCoOO or SiOOo'o
var Tor the Whole al ~ sukin iund. secretary
Brlsiow says. with reference - .hc,e proposition:
No definite ac.i ion was taken Icy In the matter. partly
for tho Congress about 10 udjOuru, ana
partly on account ir nIirquA"y OF the SHES ulo-
posed ly COMPANIES ~ Ur paid ana retained ~ nc
rrasiiy 70, a siruu. 'Gnd. Ia COMPROMISE ui o." claims
ui the Government against Item. i seemed to me- 10y"
ever tia, ., r'h' to reach an a istieut WIcit-
hy ti- leNdtuu, differences wihrn had long prrprNtd
and largely aNcciV he rrrtiit, Ii nos
pruafpitF Co. tur com an!rs. 'inuh hr MANY c''A-
paced "a reaching sir SAT- n - op' io''y Tor me
Iuri.-t pi both .tI rriay n Gu,taitf D., MT an
airIu.r:.rnf s.D'll be- made by when astd annual
ur -.ni-luuua. shuu!I be paii by la" cohpuic',
nat wen as. PRINCIPAL of the debt becomes uir td'
Government uiy boil 40 ~ trtiSi ii - sin 80
t,-tfIn to tlc tAiiu-tisllnI ~ az otht ITO" ana n}
what means. In whIt hliuF, aud lbs what periods tn
m.. suDiiI b. obtained and applied i, for Congress 10
bU - we lteciY'irn % place colpoldl'a5 under
. definite ant binding ohiHtilOI. WIN th''i
cunsrni. ti'irt nDm "a a sri ~ 49,!
nruiu-. and deliver tdc Cove nn'li r"r'u able ul
aAt % II their iudiAf'r' MGhi constantly ZEE
tie pre- az ,, duty upon t"I elves. ana I'i e
permitted 90 tr' % - mater 10 br i''Ll !" ~ u'
distant fuluic oI ~ -Ucrr"u ny Board Dt O.Ir"F'
u To ~ q AZ . =