New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-01-30
PACIFIC RAILROAD BILLS.

sVFTCu OF THE FOUR PENDING IN TIE SENATE
TEXAS PACIFIC PROBABLY sHELvED IN THE
HOUSE FOR TIE SESSION.
fly TELEGRAPH To THE TRIBUNE.l
WASHINGTON, Jan. 29.-The old controversy
nout the obligations of the Pacific Railroad Companies.
on account of the interest and principal Of the bonds
loaned them by the Government, came mp in the Senate
today Mr. Mitchell made long speech on behalf Of
be compromise. There are four bills pending before
the senate designed settle this vexatous question
First there is the House bill, passed last July which
rofses 10 put the the companies to tho fun
extent Of the power OF the Government II requires them
10 nav as sinking fund, besides five per cent OF their
ret earnings and all the money earned from the United
states the following annually for 10 years:
Union Pacific, S75O,0oO; Central Pacific, s5GS2l0;
Kansas Pacific $500; Central Branch S2+,297 Sioux
CITY and Pacific SEQ 723 After 1oyeais these amounts
are TO increased onefourth until the obligations are
fully DISCHARGED.
Committee on the Judiciary, which has a sinkngt fund
faturc like that in the House bill 1t allows the roads
10 keep half Of their earnings for Government trans
pcrtaton. however and fixes the annual payments in
The fund as follows: Union Pacific, S1500OOO Central
Pacific 81 $4,000; Kansas Pacific, S35OOOO; Central
Branch 5000 Sioux City, 100000 The half o, the
Government earnings together with five per cent net
total earnings is not with the above sums TO exceed 70
per cent Of the whole net earnings of each company
The third bill is that Of the Railroad Committee. re
ported BY Mr. West 1t allows the Union and Central Com
paue each 10 sell TO the United States S600O000 of tie
land which il got as Gift take credit Of $60O0OCO
toward vayng their debt In addition each TO pay
s35OOOO year in cash The companies are also to get
credit OF 81 100000 apiece on back transportation ac
count.
The other bill by Mr Gordon, and comes back from
the Railroad Committee with amendments. 1t gives
credit for the back transportation claim and requires
each OF tie two companies to pay S1JOOOO annually mo
a sinking fund. A curious feature IN the orig
inal bill was that forced the Government
To send by these roads all freight destined
for points between the Missouri River ana the
Pacific coast This has been modified by the addloh on
the following saving clause whenever such IIeISht
can be so transported place OF destination nj rates
not exceeding the cost ~ which 1t be carried 10y any
Of transportation" The consideration OF
these various bills will occupy good deal OF te time OF
the Senate heurefOrward IN
The promoters Of the compromise Texas and Pacihc
ard Southern Pacific Railroad bill We're greatly dlsap,
pninted to-day al failure suspend The rules ana
bring that measure before the House for lts cOnsdcr
tiOu. During all the morning they thTOnged every
corridor and turned out the motion oi MT Dur
ham filled almost every vacant place the floor. Each
secmed have special duly assigned Bnl ara
ali were extremely busy consulting members with whom
supposed 10 have influence making sngges-
tOns 10 10 the best method or procedure
and demonstrating with others not to oppose
the motion fix day FOR the consideration OF the blI
the measure at the foot OF the calendar ana me
prnsDpc of reaching il before the end OF the session
without suspension of the rules Is hopeless one II
The rules could be suspended and the BIZ advanced so
that il could be reached there is little doubt tla II
would he passed. tie combination OF interests which
has been effected by locroIlng the Texas ana racine
the Southern Pacific and the different branches provided
for all into one bill would probably give decided ma
iorv Tie failure 10 get possession OF the bill to-day
probably defeats the scheme for this session.