The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1881-01-20
qalfsrElIamenMs.
THE CREDIT MoBILIER STORY
SOme Things that Citizen Train Did when I'M
Demons Had Control Of hlm.

Same Things that Citizen Train Did When the
Demons Had Control Of Elm.
Here are some more solid facts about
Credit Mobilier and Union Pacific.
Dillon, Director, had one-quarter OF
the track laying contract with Gen. Case
ment. Tony Drexel declined to be d.
rector when offered him the chance,
He was then busy buying the Ledger for
Childs. put in Augustus KountHe, the
banker, instead of Drexel, who, later on,
begged me with tears in his eyes to make
place for him. 1t was too late.
Tne day before Dix and Cisco were
chosen, offered Moses Taylor the Presi-
dency of the Union Pacific. Having no
idea that l held the power, he declined
I then offered it to A. A. Low. He, too,
failed to take in G. F. So by vote OF
$4,000 900 out of 1920 600 900 my ticket
killed Ogden. Ask Tilden if 1 didn't run
the machine at that meeting of two hun
dred million capital.
At that time Jay Gould was buying 100
shares of stock through his TiOga county
friend Bush, to whom l showed the list
ofPacihc directors that would be elected
next day. And they were.
What astounding changes! l offered
the Oakes Ames contract to Jay Cooke,
Clews, Duncan, Sherman, Belmont, Je'
rome, Garrison, Vanderbilt, Stewart, Gar
rett, Morgan, William B. Astor, and half
a hundred other capitalists of my aC'
uuaintance. They all declined, They all
said it was the widest scheme ever at
tempted by man.
William H. Macy Of the Leather Manu-.
facturers' Bank, whose son SylVanus was
nv sroomsman in 1901, William II. Gui-
on, who established his Liverpool house
when did mine in 1850; Glidden & Will
liams, and NiCkerson q Baker gave me
nv first Credit Mobilier checks-S25 600
each. These men should have monu>
ments for their great judgment enter.
prise, and faith G. F. 7.
One special point made in the act of
Congress was the road should be built of
American iron. So should our ships be
built of American iron.
Huntington offered me 2 900 shares
Central Pacific for my Congressional
work. ] didn't consider it worth &C.
Cepting. Its present value is perhaps
$500 600.
gave Cyrus H. Mccormick and Ben
Holladay their 100000 interest in Cred
it MCbiier. BY the way l worked on
Durant in 1862 for six months before
got him into the U. P.
On the day when Thad Stevens and
Garfield tried to kill the Union Pacific
bill in Congress-in order to strike for
more stamps for their Ring of forty Re-
publicans- Washburn gave me full cred
it for my share in the enterprise. "Who
is IN this great enterprse?" he asked,
"The capitalists of the land2 No. The
railway kings2 No" Then, looking at
me as | sat in the gallery beside DuraHt
and Huntington, "lhis mammoth under.
taking is in the hands of such adven-
turers as George Francis Train and Sam
uel Hallett p Loud applause from the
Radicals. Where is Washburn now?
And where am l ?
To show how little faith shrewd busi
ness men had in my Pacific Railway
sheme in 1864, let me mention that my
father in.aw, as trustee for his daughter,
sold Sl2 600 Credit Mobilier stock which
l gave her for Christmas present, for
eighty cents on the dollar. The pur-
chasers must have received 100000 in
dividends.
| discovered then that our railway
kings were as small as our statesmen.
Some of our men of smallest brain are
miIlionaires in Wall street. Once under
way ANYBODY can sign a check. After
the first million, Topsey gro Vs." Com
pound interest does II.
I hawked $4,000 600 first mortgage
bonds of the Union Pacific all over Wall
street to try to get capitalists to advance
seventy per cent. on them. No million.
aire would touch such security. The
idea of putting rails over the Rocky
Mountainsl Seth Hale vas the only
man bold enough to lend nae $50 900 on
Union Pacific three months note, with
these first mortgage bonds as collateral,
at sixty. At the same time | lent
Mellias, financial editor of the World
500 900 on telegraph stock to enable
Marble to buy World shares Of Belmont
and Cranston.
In order to boom the bonds we paid
Shattuck $25 900 salary to spend half a
million in brbing the press; and 80 we
succeeded in getting stamps enough to
build the road. It was curious to see how
anxious the Republican urnals that
had been abusing us were to be seduC
ed.
saw Alley and the Boston set pay
over 10000 600 in the front Office as a
bogus subscrp ption to get control, and
then saw chem get the money again at
the back door.
Abraham Lincoln was offered 100000
to veto the Union Pacific Railroad bill.
But he wBs not thaD kiGd of man.
GEORGE FRANCIS TRAIN.