Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1885-03-07
WASHINGTON.
- f,.a, prrsIdIenI Adams.

49, fr.grn the President Of the
psss6e Railroad Company % SEN
"a nsrtioDed in the Senate re-
49,. Mas, February 9. las.
i - y. Hear, United States 5ss-
4 Ts,E,aofSa.-AY DE1E eTz: The
y - seust, Judiciary CSmmittse
ho..S b VOC regulating future pay
- = made By this company 10
er-is.d state, Ia settlement OF it,
ss.,;sua. has TOW some days been in
1870. AZ ytn are aware, the repre-
1870 Of tbs. company were not
- IN regard 10 this bill while Il
-. r-euarssion, s5T were they per
80 b sse Is until "a had been report
- ssusts. As the UaiSr Pacific
- n he corporations interested. IA
- ri Be car II i..sis5 f1f me. nov
sbsnce for considering the meas
- hssn afforded. 70 state 10 you a.
49, 3 gay be, the conclusions 70 be
49, h regard 90 it from directors
80 q view.
= srleiuaily reported the bill vas
.ss,.ad A eon,leliaug the company
1870 semi-ann1al payments amount
= about $4,000 each, with In
- fran the fist payment forward 10
\. fzgh. % that n round numbers pay
- darjng the hrst year year would
- amocnted tn about $500. 900, and
- during the Goth year would
- sscqanted 70 about x2,500.0OO. Az
s'esaseutly amended annual paSmesis
80 he beQinnitg we're TO include In
sras % the eatl.e amount Of tie IN.
81 dehs. Thas h, payments for tns
r. ysar would have been $500. 00o,
sssaa usald have regularly decreased
Z ~ rate Of abort $4,000 per amman
: ~ dshs was piid, until at the Goth
-, ~ payments would have amount
4 . bot absns 100000.
|. he shape In which the inca snFe Ia
.sv Isft payments, as ! understand IL,
!. saa sIizsd throuRh the entire period,
!. Insluding the Central Branch, they
"A b about 9l,b00, 600 year. Is Il
s.ssly necessary tor Ene TO refer to the
. Ias, piAns-that Of annually iR-
sussinr payments and that Of equal
"a paymenis. As respects the FIRST
4 thsss too plans. that Of the largest
avnsnts at dFst, arm Obliged 10 say
"A DO not think that under the pres
~ basinssa conditions of the cssuntry
~ Uaioa Paeife would be able 10 meet
4 squiTsmeuss, however it might ha We
10 undsf the conditions watch have
lsxsofore existed. IL IL notorious that
rslhss the Union Pacific nor the other
ni!resds IN the ctantry at the present
eas are pfOspertns. Business IN Ian
elshine; receipts are falling OF, and
~ future 10 uncertain. Nor are these
ambitions adverse conditions Of q
sstsly passina nature. There are nov
islr ifansoontineiltal routes IN place of |
saa and the Unioa Pacific meets severe
ssspstition In its most valuable local
isf1tosy. IL remains 90 be seen how
~ ihs Increase Of traffic vi.l conapen-
-, for ne subdivision, consequently q |
I'D which few years ago might have
Ass1 safely isssuma,d. 70 nor dangerous
h heayy. II you expect tho hofss TO |
"a The load, i. u not veil 10 hiteh TO |
10 load heavier than he can pull. |
VA d true phys cally of the horse. IL |
~ financially ef the Union Pacific,
!xn my present knowledge OF the |
ssnny's system of reads and existing |
ianess conditions, I am obliged 10 say |
81 an annual requirement. Of $500,
10 90 the part ~ she United States
sosld % cripple the Union Pacific that |
lsee1ld be unwilling 10 assume any re-
feasibility for the losa.
Al respects the second scheme, I am
sdslnsd that equAlized payments, in
sading thoee for the central branch,
soaId amount 10 ssbout $500 year.
fhses 10, think, fair and reasonable
Fospeot that the company could carry
Die burden. do not pretend TO spe1k
nth confidence, f,r even thas lead IL a
sssy one and the future Of a railroad
Rhile the Government oompsis the
lnion Pacific 10 meet competition In
rder 70 retain iss traffic. ID has by It's
lEislation 20 tied up the hands Of this
empAny that 10 cannot meet ita CON-
,sisiors ON equal llermE. cannot bat |
xnaider the poliiy Of late years par-
sa With this otanpany by tha United |
sktts % economically = faalty one
treul ny pciRt of view. Il In mot 70 tho |
pteFess OF either the Government or
10 people to fof0e the Union Pacific 10
take thfee large snms oct Of |
d Haisk capital and look them no la |
'As dvsrfiowine National treasury. The
pnipn Peuific serves six States aud four |
tsfliiories. There is net one of these |
siates and Territories that Is not today |
laIline for railroad development, which.
! b could be provided, would nos only
leofd whale communities sorsly needed |
laslnsss facilities, bat would add large
y 70 The trafae and income Of this |
sopp4ny. Every dollar, therefore,
shheh is taken out Of its business annu-
ely, 70 % much which could be APP
piis3 10 the development Of the
a1antsy, nc. oaly % the great |
advantage Of the Union Pacific, bat 10 |
De Increased ssotltity Of the Govern.
msrt. 90 FAR a. ita debt Is concerned.
kzsh request sof these additional fssili-
hes which noU reaches me will have 60 |
y met with the answer that the money
tAat would have sufficed 20 supply 10,
~ been paid into the national treas |
~. The Government has taken from
= and NE communities We serve tass 80 |
ecoh frnetifyiug capital. The Union |
fsei6e DOW has Ia ths Thurman ast q |
kakinR fund, bringing less than .hree
= esak pei year, OF some ave million
eellan That I've million would easily |
nasfeel and equip no miles Of rail. |
lsht xhoes SD miles Of railroad
foglt bring the lJnion Paeaflc system
frdlztly Ten tirpss the net income 81 |
~ a4kinR invtatmAnts. The hrsi
@aitRaRs securities, repfesantia9 the |
eFrsrship Of thin additional mileaae.
e<hi b deposited In the treasury, and
y Tie maturity NJ our loan the com
s&7y vas unable ~ raise the necessary |
nsxlef 10 pay thi, Governments OF, ts |
nais 'ake che eoaseqaeneex. The Gov.
s'ainsnt could sstl cot securities repre-.
ss1lins The whole Union PaeiAc system |
2 " highest bidder. 10 all hasnAn
Eeeahility no loss would be incurred.
slrs 40 iseatimable hsne6t sould be |
salisfsed ca the communities which
~ systsm ssrveel.
eaea, u seens 10 mo. would be she
~ haeinsea policy for she 0ovsrn |
ssnt % parene With this cofnpany.
ssf2f<ss might tnipose any restrictions
aMw % m regard TO the conssruelica
y Summary linel, bus for q d0Een years. /
= sume. before she PActne loans nature.
~ peepie 10 tho STATES and Territories
Stsssa the Misssari and she monnt- |
80 voaid have lie advantage Of those
last snd thus THAT Is now q barren
ahlnR fund, Useful TO no ona, wonid
eoctsFted inaei shat Ia the raost
ssLsncsai sys.enn u compensation which
s.saa % devised. This plan undoubt-
~ Vonefses has fully considered and
assda 40 lnpFas tiea bic. I, thersfogs.
- efRe d. ! haefsly submit 10 - 81