The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1884-08-01
The Subtitle Power Welded by
Senator Edmunds Over the
Gould Syndicate.
Corporation Which Had Defed
Governmental Control and Repudiated
Its Obligation, Brought to Terms
Wonderful Concessions Made to Secure a
Little Respite from It's Sena-
toIia! Nemesis.

NEW YORK, July 3l.-The Times this
morning prints an entire page Of Wash
ington dispatch giving history OF the
Union Pacific legislation to secure the pay
meut Of the Government dues. 1t gives
Mr.. Edmunds the credit of having had
more to do with drafting the Thurman
bill than Senator Thurman, and says that
last winter his bill calling for scmi-an-
nual payments by the company, to the
Government brought Gould to Edmund's
feet and led to the hasty substitution OF
Chas. Francis Adams, Jr,, for Mr.. Dillon
as the President of the road. The propo-
sition which the directors agreed to was
as follows;
First-No more dividends to be paid
until after Congress again meets.
Second-All moneys due for Govern
ment transportation to be retained in the
Treasury
Third-The company to pay forthwith
into the Treasury, S7Is,sl4, tine amount
claimed under the Thurman act for 1853.
The surrender involved in these prop.
osilions was wonderful For the first
time since its Incorporation the company
was brought TO terms. This plan was
submitted to the committee June II. 1t
was accepted but in terms not consoliug
TO the Railroad people. \
resolution was adopted that
upon these terms the committee
would defer further action on the SUBJ
ject until Congress meets again. The
directors passed the dividend, accepted
Dniou's resignation, aud elected Adams
In his place. The S7ls,Q0O was deposited
with the sub.trcasurcr ut Boston 1t was
a strange proceeding. a Senate COM
miltec is not authorized to enforce laws
nor 10 make agreements with corpora
lions whereby they promise not to act
upon any subject. The Union Pacific,
under ordinary circumstances, would
have said to Mr. Edmuuds: "What
authority have you; We can only be
reached By the courts" That would
have been safe answer to make, con-
sidcring how easily courts aud law
officers have treated the Union
Pacific. Instead of that Mr.. Edmunds
lays down terms aud the rail-
road yields what no law compels
1t to surrender; places in the Treasury
nearly a million dollars, and only pro-
cures in return Mr.. Edmunds' agree
ment TO keep his hands off for five
months. Would the railroad people have
surrendered so completely unless they
knew they were at some ones mercy'
Meanwhile, in the House the Pacific Rail
road Committee had taken this thing up
in earnest All through the Spring they
struggled against delays caused by the
railroad company's attorneys on and oil
the committee. They suddenly found
opposition withdrawn, and the House bill
was allowed to pass without q dissenting
vote because by the Senate committee
agreement it was certain TO be killed in
the committee when the ill reached the
Senate. Van WICK moved its reference to
the Railroad Committee, on the ground
that the Judiciary Committee had entered
into au agreement with the Union Pacific,
which debarred it from acting. Edmunds
and IIoar defended the committee on the
ground that its action had ayertcd panic
in Wall street, which would have been
caused by the true condition of the road
becoming known, unaccOmpanied by the
postponement OF Government action.
Finally, Van WICK consents to the refer
encc to the Judiciary Committee, and it
was not alluded to during the remaining
two weeks of the session. Just what
Mr.. EdmundS intends to do with the bill
next session, no one knows. The COM
pany has put itself in his power. He
only fears it will be unable TO pay and
will into the Governments hands.
To prevent this is his aim,
while securing payments to the sinking
fund He does not consider the stock
legitimate lien. The company owes al.
together S232, 100000, which sum would
build three such roads, yet yearly the in
tercst on its stock and bonds has been
paid, and no man in the Government eX-
cept Thurman and Edmuuds has taken
a step to prevent it; despite the fact,
too, that much of the stock was illegally
issued. The companys earnings are de-
creasing through competition, and
Gould seems willing to throw the wreck
aside provided he can escape legal penal
ties for the failure to pay the Govern
ment. Much of the stock has been got
rid of by its former holders already.
This is in brief the history of the case.
The strange actions of certain public
men in connection Herewith will make
even more suggestive reading when writ
ten up.
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