Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1888-01-04
THB CENTRAL PACIFIC.
INTERVIEWS WITH SENATOR STAN.
FORD AND G. 2. HUNTINGTON.
The Report of Investigating Commits.
sion-All Contracts Fulfilled on
the Part of the Company.

NEW YORK, January 1st.-Senator STAN
ford said to-day he had not read the report
of the Pacific Railroad Investigating Com
mission, but to an interviewer he said !:
''By accepting the Act of Congress of 1862, we
became contractors with the Government
to build road from Sacramento eastward,
and the Government loaned us $25 900, 900
in bonds. Upon the completion of the
road from Sacramento to Ogden, we bound
ourselves to return the obligation, partly in
cash and partly in service. The Supreme
Court has declared this to be contract.
We have paid in our cash and service. The
obligation has yet several years to run.
There has never been any question but that
we have performed every obligation we owe
the Government, nor has the Government
intimated that we have not"
THE CONTRACT FULFILLED.
But how was it that over 800, OOO, 900 was
made out of $27,000,000 for which the
Government has received, as is claimed. no
satisfaction ?"
That is the sheerest nonsense. If we
have realized 500 ,000, 900 out of the road it
is nobody's business but ours, so long as we
have faithfully fulfilled our contract with
the Government but we couldn't very
well make $l00000O0 out of 1927. 000,-
900. We constructed the road at more than
double the cost of bonds received from the
Government. 1t is true that great deal of
capital was paid i'll by the way of subscrip-
tions, but the road was built on the stock
and bonds. 1t was of little moment
whether or not any money was paid in by
subscription, so long as the company OBJ
served all its obligations"
THE CANADIAN PACIFIC
"What services TO the Government in
your opinion, has the Central Pacific not
yet fulfilled"
Not one, in fact. We are supposed 10
do what the Government asks of us until
our contract expires. When the scientific
e2 petition is sent abroad via the Canadian
| Pacific and Vancouver, and when goods
are sent through Canada from the United
States to reach San Francisco in violation
of the interstate commerce law, | say when
| the Government permits this, it cannot be
very anxious for our railroads service. and
yet such is the case. We have carried few
| troops yet the construction of our road
through the Indian Territory has done
much to make warlike preparations I'M
| HSCCScdly w lcduy " lulllll any
obligation called for in our contract. If it
continues TO see fit not to ask anything of
us, why our service is fulfilled just the
same is it not?"
THE COMMISSIONS REPORT.
What will Congress do with the Com
missions report?"
THAT is more than l know. Governor
| Pattison insists that our charter shall be
| nj tUrn q 10,
think the bond and mortgage scheme
! would suit them better | guess the lob to
annul our charter will be a big one.
would like TO have a court appointed to
consider the equities between the Govern
ment and the Central Pacific Company. as
provided by the Act of Congress of March
last. As matter of fact, we finished the
road in 1869, while the contract required
| US to complete it before 1876 1t was built
during the war, at twice the amount it
would have cost had we waited until 1876
before completing it. We therefore saved
| the Government 100000 annually. or
S49, 900 900 in the aggregate. Imav be mis-
taken, but | hardly think Congress will
coincide with all the committees recon-
mendations. do not apprehend that we
shall suffer very severely from the investi-
CATION"
| REMARKS OF MR.. HUNTINGTON.
c. P. Huntington was also interviewed,
and said, referring to the severe criticisms
of the Central Pacific Railroad I" 1t should
| be remembered that the Government
offered certain inducements to anybody
who might build railroad across the con-
hnent. The statute expressly stated what
the Government would give, and am not
| aware that we are charged with taking
more than we were entitled to. We did
not take everything the statute gave us.
The Government is still indebted 10 the
company. The cost of the road to us is
nobody's business. We engaged to build a
road according to the offer of the Govern
ment and we built it. Another thing
ought not to be forgotten, Mr. Hunting
ton continued, "the Government afterward
gave to aid other lines, one north and the
other south, more than it gave and loaned
altogether to us. 1t must have known its
security on our property was not improved
by this action. l personally urged promi-
nent men at the East to join US in building
the Central Pacific. They refused so great
a risk. We built the road, and if it was a
profitable undertaking other men might
have done the same thing if they had had
the courage"