Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-03-02

to make the first connection with the rail-
road system of country extending 5000
miles north and west, and virtually
making the terminus of the
Canadian Pacific in Minnesota.
Should his company be burdened and
hampered in its endeavor to accomplish this
magnificent object? The company was will
ing to recognize the equities, when established
in the supreme court, of all in interest in the
past. He assured the committee that next
session would prove all these promises to
have been fulfilled, if the company was per-
mitted to go on with the road untrammelled
by past issues or doubtful claims.
In referring to his company, Mr.. Hill had
Mr.. Clough-May | ask the gentle man
whom he means by ''we?"
Mr. Hill mean those who are associat ed
with myself in the recent purchase of the
bonds of the Dutch bond-holders.
Mr.. Clough-What proportion of those
bonds have you purchased!
Mr. Hill-Seventy-t three per cent. at pres
ent, but we hope soon to purchase tho whole.
Mr.. Clough- you actually purchased,
or have you only contract or some sort OF
an understanding whereby you can acquire
the bonds under certain conditions.
Mr. Hill-The bonds are positively pur-
chased, and are now on their way from
Europe.
Mr.. Clough-W When did they leave?
Mr.. Hill-Some time about the Goth of
this month Probably meaning last month,
February.
Mr.. Ciough, excitedly-I have information
since then that such is not the fact.
A member of the committee-Who are we
to understand you are?
The chairman-That is Mr.. Clough.
Here Mr.. Clough left the room, and, as
tleman ran down to the Governors Office.
Mr.. Fisher, superintendent of the St. Paul
and Pacific can cOrrObOrate MIR. Hills
statement as to the purchase of the bonds.
Mr.. Ed. Rice And SO can I, most en-
phatically, as man of honor and as mem
Der of this Legislature.
Mr.. Galusha-As the attorney for the new
purchasers, I can corroborate Mr.. Hill con-
corning the purchase of the bonds. Moth
ing but the sinking of the bonds in the
| wide Atlantic can prevent their reaching
| New York in few days, where
and when they will be Immediately met by
the first payment upon them, and then turn
ed over to the new company.
| At this point Mr.. Clough edged his way
back into the crowded room.
Mr.. Clough, still apparently excited
understand the Governor has received tel.
egraph dispatch from Europe stating the
bonds had not left, and the committee would
be assured of that fact by waiting upon the
Governor.
Mr.. Clough then continued by saying i
was absurd to think that these new purchas
ers would, if genuine holders, sink the none,
they had invested and abandon the lines il
they did not get the 100000 acres reserved
to pay DeGratf & Co. It looked as if tn.
purchasers were spectators expecting t.
gain by securing legislation.
Mr.. Galusha and Mr.. Hill, in reply to Mr.
Clough, explained the nature and quantities
of the lands pertaining to the Sank Vale,
line and the Crookston extension, showing
the necessity for keeping intact the 2OO,OOl
acres for those roads, but which are now re-
served for the payment of the DeGraff
co. claim.
Mi. McCrea, member of the committee
suggested q compromise as a means of pre-
venting delay and strife in the House durin
the few remaining days of it's session.
MIR. Edmund Rice called attention to tn
act pending in Congress which, if passed
would relegate all the lands, and, then, VIVA
would become of all these creditors? Th
underpinning would be knocked completed
away from all. and everybody would loo
J very silly.
The matter was then disposed of by az
pointing conference, to be composed of a
parties i'll interest and the Legislative delegs
tions from the districts along the lines und,
( discussion, of which Mr.. McCrea was mao
chairman; the report to be by bill to Il
l railroad committee.
Speaker Gilman move Mr.. Rice be adj
ed as representing the railroad interest.
Mr.. Rice-I represent the interests of Il
public.
, On motion, Mr.. Rice was added to Il
committee, and an adjournment was had.