National Republican. (Washington City (D.C.)) 1872-1888, 1881-06-27
Railroad Commissioner French.

Railroad Commissioner French.
umns of the New York Herald of June
10, in the comments of the stock editor,
dated Wall street, June IA, six p. m,, ap-
peared the following:
The great strength in Union and Central Pacific
had much to do with stifening figures generally
Regarding Central Pacific we print a telegram
sent by Mr.. C. P. Huntington, vice e-president of
the road at home, to Mr.. Leland Stanford, presi
dent of the road abroad, which reads as follows:
LELAND STANFORD care SPEYER, London:
Letter has been received at this Office for you from
Auditor French stating the result of his visit to Cali
fornia, which is in every respect satisfactory. He
states that he finds the Central Pacific is earning
sufficient TO pay all fixed liability the Government
requirement for the year, and least six per cent.
dividends In respect to the Southern Pacific lease
he states that he finds that its operations result in
aprotit to the Central Pacific, and that they promise
very certainly an increase in the coming unexpired
years of the lease He finds the near future full of
promise to the producing and other interests of the
Pacific slope. He would like to the Central Pa
cifc and the Union Pacific consolidated.
Those most intimate with operations
in stock will be able to estimate how the
foreknowledge by few that United States
Commissioner French would write such
letter caused the Central Pacific to begin
upward movements from 95 and small
sales on the 10th to 1923 and heavy sales
on the 18th. The Central Pacific Railroad
Company can, if they will, tell waiting
public and conhding Government how
it was that Huntington in New York
could telegraph to Stanford in London
on the 14h Of June the contents of letter
written in San Francisco tlUO days later,
viz, June 16, addressed to Stanford, and
signed by Theophilus French, United
States Commissioner of Railroads. 1t will
be observed that there can be no error
of the printer in the matter of dates.
The telegram of Huntington appears in
the Herald of June Is. 1t bears no date,
but could not have been dated later than
the 14th. 1t speaks positively of letter
from French, already written and re-
ceived at " this office" New York;. Mr.
French furnished a copy of that letter
here, bearing date June Is. And now we
organ, the San Francisco Spirit Of the
Times, of the 18th, received yesterday,
the sane letter, also dated the
18th. Another funny element in the
transaction is that Mr.. French ar
rived in Washington on the 18th. The
extraordinary transaction may be thus
summed up: On the 14tb of June, 1881, c.
P. Huntington receives at New York, for
Leland Stanford, letter written at San
Francisco on the 18th Of June by Theophi-
lus French, who arrived safe and sound at
Washington on the 18th Of June. This is rail-
road speed. Itplaces French Washington
two days after he had written letter in
San Francisco, and places that letter in
New York two days before it was written
at all. Stanford has gone to Europe, and
cannot therefore be subpenaed in a case
just commenced in California court to
discover the performances of the Pacific
Coast Credit Mobilier, otherwise known
as the Contract and Finance Company.
But for this absence of Stanford we should
feel sure that he had suggested the fol-
lowing in Mr. French's letter:
California is gradually emerging from its busi-
ness torpor; labor is finding employment at better
prices State politics are reaching more settled
and the near future is full of promise,
not only to the railroads but to producing and |
other interests of the Pacific Slope generally, as
evidenced by the largely increased business of
your company, &C.
This is almost word for the word the |
formula by which Stanford always gives |
notice that new turn is to be taken on the |
screw which squeezes out the final six
pence the producing and other inter-
asts had fondly hoped to retain as their
share Of the years work.
The apprehensions expressed in 1880 by
Mr.. French concerning the evasions by the
Central Pacific Company of their obliga-
ions to the Government must have
rested on slight foundations. We hope
his present confidence in the company's
good faith is based on more potent
yroundS.