The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1879-10-21
Last NIGHTS Dispatches.
wAsHIHGroN

WASHINGTON, Oct. 20.-The Suprem.
Court gave decision respecting the con-
stitutionality of the Pacific Railroad Ac
t'of May 7th, 1878, known as the Thurmar
act Owing to the great pressure of bust.
ness neither the majority of the court mol
the Justices who dissented. were able te
prepare written opinions. When the de-
cision was originally made Chief Justice
Wait read az opinion of the majority oil
the court sustaining the constitutionaity
of the act in question. and dissenting
opinions were delivered by associate Jus
tices Bradley sStrong and Field. The
opinion of the Chief Justice which deals
especially with the case of the Union Paci-
| fc and is in substance as follows:
The precise point TO be determined iu
the opinion of the Court is whether sta
tute which requires company in manage.
ment of its affairs to set aside portion of
its income as sinking fund to meet its
subsidy bonds and other mortgage debts
when they mature, depIives the company
of its property without due process of law,
or in any other way improperly inter-
! feres with the vested rights. The court
holds that the railroad company is subject
to legislative control SO far as its business
affects public interests; that by the reser-
walton contained in the chartering acts of
1862 and 1854, Congress retains full power
to make such alterations aud amendments
of the charter as shall come within the
just scope of legislative power. In so
doing it cannot undo what has already
been made, but it may provide for what
shall be done in the future and may direct
what preparation shall be made for the
due performance of contracts already
entered into In less than twenty
ha
will become due from the Union Pacific
Company about $80,00OO0O, secured by
first and subsidy mortgages, besides capi-
tai stock representing 100000 more,
with the exception OF land grants. 1t
anything except the earnings of the Com
pany can be depended on to meet these
oDiigations. when they mature, these earn
lngs, the company after paying interest
on its own bonds had been dividing from
time to time among its stockholders. With
out laying by anything to meet the epor-
nous debt which is soon to become due.
Thus the stockholders of the present time
are receiving a share of the dividends
which those OF the future may be COM
PEELED to lose The United States occupy
towards the corporation a two-foId rela-
ton; that OF sovrcign 20 and that of creditor
In their relation Of sovreign it is their
holders don't appropriate to their own
use, that which 10 equity belongs to 9TH
ers. The legislative regulation which does
no more than require them to submit
their just contributions toward the pay
ment of the bonded debt. cannot in any
sense be said to deprive them of their
property without due process OF law The
Court held, therefore, that the legislation
com mplained of, may be sustained as a rea-
sonable regulation of affairs of the corpo-
ration. 1t is also warranted. under au-
thority by way of amendment, to change
or modify the rights, privileges and i'm
munities granted By the charter. The
judgment of the lower court is affirmed
WASHINGTON, Oct. 20-In the forth
coming annual report of the Paymaster
General the policy of increasing the pay
of the principal non commissioned officers
will be strongly advocated, as will also
the proposition to pay the brevet officers.
under certain circumstances the pay Of
the rank TO which they may be breveted
The subject Of 5ounties due to colored
soldiers will be treated at considerable
length. The receipts Of the department
for the fiscal year were SIS 35S, 600; dis
bursements $l2, 100000; balance on hand
So, ,658. O00