Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1876-06-03

ARMTIwXk N Dan kI8UOl000s F0IUOuB IN t00l
city hayine busiasss With this ofics are 70.
auosts1 70 eomDunicsts with hin
ALI, cHARrz d authorised to receive sub.
eoe3ptiops fer the SHNfIHIL and collect foy
She sams In this town. All persons II Eu-
Ysks ewing for subscriptions Will make
payment 10 him..
oEUAr0B EDMUND's CENTRAL
PACIFIC DfLf.
On Sunday last We gave . short syn
spsis Of the facts Of the present rela-
lions Of the Central Pacific railroad
with the General Government. We
explained the existence Of first mort
gage upon the franchise Of some $780,
00o, 900 and the nsture Of the Govern
msn mortgage Of some S2s 900, 900, sub.
jsct to the drst lien. We rehearsed
the "Iows cass.,reoently decided by the
oupseme Court, wherein il was ruled
that the company wss not required to
pay interest until the maturity OF the
bonds, that ID until 1890: 1t which time
the company would b indebted 70 the
Unitsd states in seine 10000, 900. We
is.ended to resume the subject In our
next issue, but were unable "a do %.
Not long since Senator Edmunds. Of
Vermont, introduced, measure Of
compromise proposed BY the Central
Pacific, . bill, the intention Of which
10 70 secure the Federal Government
IN its claim against the Central Pacific,
and 1t the ssme time enable the road
70 continue In operation. The provis-
ions OF this bill are substantially -
follows.
First-The railroad to return 70 the
Government oil of the land granted to
the railroad In the State Of Nevada and
Territory Of Utah. These lands con.
sist Of the odd.numbered sections for
twenty miles on each side Of the line
OF the road. about 4,500,0 900 acres.
They arc 70 BE- computed 1t the same
price that the Government asks set
tiers for the adjoining sven sections,
that IL 70 say, e 30 per aero. Where
the railroad company has sold any Of
the lands, oil sums received for them
Ia excess Of g 50 Per aero. are also to
b paid into this sinking fund.
Second-TheYe IL further I o be cred.
tied TO this fund the cost Of
transportation Of mails. troops. public
stores. etc., which has been retained
from the road under the act Of March
., 1873, and II ON . settlement, this did
mot on the 3lst Of December, 1875,
equal 1000, 600, the railroad company
u 70 pay into the United States Treas.
uv~ an avunuut That uill nnakA L. ANAL
thai sum.
Third-The railroad company IL
further to pay into the sinking fund,
semi annually, in money or bonds Of
the United States, On amount which,
added to the value Of the lands and
the sum found 70 BE- due for trausporta.
tion, shall b ~suficient 70 pay the
bonds and interest, on the day the last
bonds become due that were issued In
aid Of the construction Of tho road.
rourth-The creation Of this sinking
fund shall not release the present
m0rtgAge lien, which the Government
now has on the road, but IL il TO con-
tinus In full force until all the bonds
and interest : fully paid.
This whole matter Of the relations al
the Central PaSiic u the United States
II Of vital importance 10 the material
interests Of Nevada, and . considera-
ton Of this measure II demanded u
the hands Of . Journal devoted to the
interests OF Nevada. In considering
the matter we premise that va will be
- briss - IT. importance permits, snd
that We will regard the matter solely
from . point Of view cslculated to pre-.
vent In their true light the interests d
the people and mines Of Eastern
Nevada u adsstsd By the measure.
There exists. and for years has existed
. general feeling In this state that the
Central Pacific u . monopoly which
BY unjust discEiminations In fssightl
and fares has imposed great burdens
upon our mining interests. Whether
such opinion BE- or b not we'll founded
It il plain that In . matter Of buainesl
sfeseine our future al sentimental
Ism should b laid aside, and We should
consider the proposition solely -
matter Of businass.
Let Il b borne In mind, then, thsl
provided no Law b enacted establish
Iishing some such compromise - !,
contemplated BY the Edmunds bill
the Central Pacific will 1t the date o.
the maturity OF its second-mortsagl
honda b Indebted 70 the Unitsd Stste,
IN some ga, 900 900, and that to secure
p~ossession under foreclosure The
United States must first pay In coir
some ga. 0oO 900 to extinguish the prior
lien; that h, the property will stand
the Government in some 49o,000,0 900
Now. no one believes that this franchise
at that date will be worth ons-half thai
sum. We all hope that before twenty
years ara past there will b q leas'
three iron trsns-eontinental roads IL
full operation. and each n will ID.
minish sOmeWhak the value OF The