The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-01

pete for the business enjoyed by the Union aud
Central lines. He explained that years ago. before
any the questions had arisen were thought OF IN
the settlement OF some local differences, he and
OF his friends of the Central had been per-
suaded TO 30 10 tho help OF the southern Pacific,
which then had hut hfsy miles of road
IN operation, and that finding they compelled to
build, under the law fifty miles a year At tho Colo
RADIO end OF the lire, and twenty miles year at the
end, he had repeatedly offered to dispose OF
his entire interest in it, and In 1873 did sell con-
trolling portion In the whole limo between the Colo
RADIO and San Francisco to Colonel Scott himself,
bat he never fulfilled his contract. Since
then good deal moro road had bcen
built, but he was now willing TO dispose OF II 10 the
United States Colonel Scott II he could be satisfied
that 1t would be used part OF direct limo to tho
Gull and Lower Mississippi cities. He claimed that,
instead Of building from Marshall, Texas, westward
on the main line not less than 100 miles year. as
the law required Colonel Scott has got IA devil FISH
OF a road' In the northeastern corner Of that
State struggling about GU the three sides Of
square to pick up some good lands; and that
II the same energy time and means employed 10 get
up conventions petitions and resolutions, aud in be-
sieging Congress Tor subsidy had been devoted 10
building the railroad, he might have had his track
across Texas, and would have commanded the CONT
dence OF capitalists to have gone on to con-
recton with the Southern Pacific Road his
company had pledged itself to do. Mr.
Huntington then his friends could build the
line between the Colorado and the Rio Grande, 600
miles, as cheaply as Colonel Scott and would guaran-
tee 10 put more money value into the road from
their mortgage bonds than Colonel Scott's party
would out OF their bonds by government,
and to build the road within five or SIX years. He
would not make this offer If he had not
6rgI IN q n
tho Rio Grandc by Texas roads which
deferred from action by the fear that Congress
might after all grant the national credit to njure their
property He also offered TO amend the bill now in
committee so rs to allow the same supervision and
restriction to construction and rates by Congress
the Southern Pacific, between its eastern ter
minus the Texas frontier and the several posts IN
Southern California, are contained IN the Texas
Pacific bills, SO as to place the two offers on an
equality, except that the former asks for no financial
aid while the latter asks Endorsements the rate OF
S25. 900 and $4,000 por mile. He claimed tina the
Southern Pacific route across California, between
Yuma and Los Angeles posts, was not only the best
to grades, but also more directly Ia the line of
through travel and ralc and could be mado
equally we'll to San Diego as branch line was
within ninety miles OF the harbor.
Ho thon referred TO the allegations OF the excessive
OF the $50 miles Of Southern Pacific road in CALI
fornia claiming that tho grading 1876 miles OF tho
liue north OF San Fernando had cost moro than the
entire 4i4 miles OF Texas Pacific road, for which the
Texas Construction pany had contract to receive
$4,000 mile In bonds aud stock, or IS for each dollar
put into the road cash. He challenged comparison
the cost OF the work on the Southern Pacific with
it or some of Colonel scot's other roads, mentioning
tho Baltimore and Potomac ut 500, 900 per mile, the
Northern Central at $144O0O per mile the Allegheny
Wall Z In tha Pam l,a naC Can
$500 900 per mile OF main line $780, 900 milo
of main line and branches or he would DO willing to
compare any financial arrangements with that Of
Colonel Scott Ia paying So 900 lease money
for ninety mile road and its dependencies between
Philadelphia and New York, which six per cent
represents q capital value Of $4,000 900, Tor
monopoly, whom competing line could
have been carried through for $780, 900 per
mile Mr.. Huntington then said that OF
all mon with whom TO entrust competition
for the benefit of the people Thomas A. Scott the
last The same man who alterDates his trips to Wash
ington to promise competing rar Dads out OF the
Treasury with trips to New York to patch up treaties
to prevent competition over roads where there are
more people and more tonnage passed IN one day
than crossed the Continent la twelve months. The
same who for months resisted the efforts
of competing company to cross his tracks at Hope
WELL In New jersey and who had torn up repeatedly
tho tracks Of west Of Pttsburg and who CON-
PEELED oil pipe limo 10 break its line In
ing his road and cart the oil over 1t, and who
was this day opposing tho FREQ oil pipe bill at
Harrisburg, was an amazing champion for railroad
competition. His whole hfc had been long effort
at combinations, rings and pools, and no never
sorted to competition, except when 1t was good
Tor Scott. Whenever he could do better
by combining the people might take their chances.
He further stated he had 10 believe that both
Memphis and V:oksburg had been promised by Scott
the oil tho Texas Pacific road, but he
was satisfied both places would be disappointed in tho
result II bill became law. The Southern Pacific
wanted shortest road to the cotton ports,
be able to carry tho crude silver of California and
Arizona to The ships, whence they would be taken at
low rates to Europe.
In answer TO certain stateincn made the other
side to the connection oil tho Central Pacific with
Southern Pacific, and The charge that the floating
debt reported TO tho State Commissioners, he read
from the same report, to show that there were de-
auctions made from the figures given of moro
than $lOtO0,t0O represented by cash, bills
aud accounts receivable, materials not in
shops and Investment notes Of permanent character
He then kilograms from the Treasurer OF Tho Con
trail Pacific Company, stating that the net floating
debt. utter deducling the cash on hand January l,
urer OF the southern Pacific Company, show
lag u balance of floating debt OF 81 2j0 900,
when was mainly due TO contractors and that
tue company I'd rails and ties sufficient 10 lay
track 70 Marlsapa Wells hand and The way, and
would be prepared to put 5000 men at work at
II Congress gave the signal 10 do So Tue argument
will be continued and concluded tomorrow, when
tho extension OF time of the Northern Pacific land
grant will come up.
PROCEEDINGS OF CONGRESS.