New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-29
RAILWAY INTERESTS.
GIVING HONps For 4 DIVIDEND.


THE TTJUNCuON AGAINST THE CENTRAL PtCIfiC.
temporary injunction was granted by
Jni. hJate ia the Cmt,d states Cr:Tit Colr yestcr'
Day. against the Central Pacific RmlrOad Company to
restrain IN directors from paying TIE dividend oI 3Pr
cent which h-s been announced. The papers were
presented by D;-tgct-Aitor1ey W0,li"rl TIE sIt Il
b7oui ht against the Central PL'jd. Rdr5a COMPANY
AID Leland stanford Charles Crocicr. e. f. Crocker. h.
". Hopkins. l. Il. Miller. ir. and W. " innung'on OF
SIN Francisco, an {. p. Huntington, OF this cry.
To complain; Which TIC injunction was granted
alleges that hn Central Pacific EdlrOal Company il
corporation existing under charter gwen by the StaI"
IT California buf having principal Office at No Mas
saust III this city, and tht the other defendants con
strutr its Board Of Directors, Mr. Stanford being the
president; M Hopkins the treasurer, aud c. J. HUNT
mgton first viccpr, Sid'nt that by virtue OF certain
legislation by 1862 and 1854 specially re-
ccd in the preamble TO the Act OF 1873 the company Is
indebted to the United states for and on account OF
United Sacs bond, issue to to ait in the construction
of the road, to amount which, upon
June 80 1873, was Sl3O33227 90. and at
present is considerably larger, out which,
owing TO unsettled matters cannot now be stated with
precision The debt however IA no. now payable Du,
together with such interest may hereafter accrue
thereupon Will be the year 1887 that by sections
l. . 3 and OF the Act Of 1873 II Is provided tha'
the whole amount OF compensation which may become
due to the railroad company for services to the Govern
ment shall DC retained by the United states and 'ppeu
by them one-haf thereof presently to the interest pau
Ivy the United upon the bonds so issued anu the
other half to sinking fund to be established In the
Treasury OF the United States. and TO lie credited Oh
February In each year not only with that amount but
also with IL 200 900, or much with per cent OF
the net earnings OF the road ana the ABOVE
named compensation shall amount 10 - per cent OF the
whole net earnings Of the company tor the year ehulg
December 81 next preceding meaning by net earnings
rs is expressly provided, the earnings less the
Ic pail
operating the same and Keeping the same in repair; amt
also the sum paid bg 1t within the year In discharge Of
interest on s frsmOrtgagc bonds having lien prIor
to that Of the United States that the act provided That
all sums due the United states from OF the eonpa
shall br lien upcn all the property granted OF con-
veycl by the United States.
The ri further sets forth that the capital stock of the
company amounts TO so 800. and Is divided into
shares 500 each thai about the first day OF the pres
cnj month ;he company declared dividend upon the
capitn stock at 3 share, or, all, OF $l.11s.2C1; ana
thit on the Il it i4sucd pubic notice thar snch
dividend would rr nail either IN NcwYoik or san Fran
cisco FrDruIry l. l~Sl that for tie pa, H"s "l Pb
ins the dividend company has on deposit TO 'he
credit of g. T. Huntington ~ Ob0uOO, ~ other IarE
amount, winch l. Cndrgcdhe with thc len N FAVOR "l
! the United states; mat the pr"po>"l payment OF u
dividend Is not use aud disposition 0 the properly anu
asset az the cnuuiy tHc "dnary. proper hud law
u conrsr ot III current huSllcss III to'u il'h i n
for VT ulnr consolidation. vivian tnr meaning "I ne
| law rui = rxtraordiinry, improper "n uh'aW ini
disposition OF such prop,ty ana a',ri,' ana - N'''
u,I ~ r lien created 10 favor If tho Iiliri r''l :
upnn such property and .,s- that from ih' r"ri~ "i
tl. cnmpl, since ID rrtuhrr 81 ~1~. instead - 'ui-
! plus tHtrc ~ % drno for DIVIDE pnrr So ~ fl'
| treasury tho Cpupa.y annuliirg lo f'j' 80 o.
| tll- aggregate surplus t'dtnrd ia lH'
cnmpaiy', port- IN" uI~' two and haf wears i-
.21Ul.5Gl o. 'ha from ms amour" tl'ir -""Hi p
! -u,,ru..d -uu. retained 10y thr TINTED ~t.',- for
TRANSFORMATION ,ir. nud - per cent hr '1rng, "i
| tine cn.utr,.y dur ihr e. ,Ncrunc g, Amounting o.
=; o., 1 Ivirc "a d ilrt % NOT t. ruHir th"
comma , fh ray a dividend. Al injunction was there
ip!c asked iui 10 Ic-tf.un Tie Cuml,n' 'l0 pl ug t"
! OI',d-IuI - prr cru,.
Bonds were nrd 10 the amount OF S1'o.u'O :" az ~
81. % o.. f.ffrf D.
Cur.c. Gro, 'i ot san Ful-ro, ana C. T. HIhi4HEton'
ul tins city. hrftnr tin rnf"''r'