Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1888-02-16
PACIFIC RAILWAY FUNDING BILLS.
President Adams Wants the Restricting Feat
ures Eliminated.
Adjourned

President Adams Wants the Restricting Feat
ures Eliminated.
WASHINGTON, Feb. 13.-Charles Francis
Adams, president of the Union Pacific
Railway company, appeared before the
house committee on Pacific railroads to-
day, and explained the attitude Of that
company toward the funding bills pend
ing before the committee. He generally
favored Outhwaite's bill, with few slight
amendments, intended to relieve the re-
stricting features.
81 did not come to make extended re-
marks for it is an old story, gone over ad
nauseum," said MIR. Adams. He would
simply refer the committee to the volu-
minous record which exists. eff you
will give Us a chance" said Adams, ''we
are willing and able TO pay the gov
eminent and it only remains to
be seen that the load is so ad-
iusted that we can pay it.
He had gone with care over the bills pre-
pared by the commission and Cultivate,
and had prepared statement showing
how they would have worked if enforced
during the four years of his presidency
of the Union Pacific. It was also assum-
ed that the requirements of tbs Cultivate
bill had replaced those imposed by the
Thurcan act. Had it (Outhwaite biIl)
been enforced the company would have
been able 20 meet all its fixed charges,
including its payments to the govern
mept, and it would have had a surplus
over and above, applicable to other pur-
poses, amounting to 81 500, 900 or 21a per
cent. on the capital stock. He dis not
think il would be wise to pass any of the
bills without removing some of the re-
strictions. If they passed, he would
! try to show what policy the company
would pursue. This constant agitation
of the subject, this constant questioning
by the papers and congress, as to whether
the company was honest, had such njU-
rious effects upon traffic that is made the
life of the railroad president like that of
the London policemen, depicted in comic
| opera mot happy one" After all this
il furious agitation and challenging of
its honesty and integrity of purpose, he
was free to say that if the bill
was passed by congress based up
on the general line of the Cultivate,
or commission bill, with such modifca-
tiOns as be should hope to see, and that
if the burden was anywhere within the
company's strength to carry he would do
all that he could in the form of recon-
mending, to induce the stockholders to
accept it, and he believed that they
would.
Mr.. Grain remarked that Huntington
had asked thirty days time in which to
prepare his proposition and he inquired
how much time witness wanted for that
purpose. Adams replied he would submit
it within forty ght hours. His company
was ready and had been ready for four
years.
WASHINGTON, Feb. 1.-THE senate spe-
cial Pacific railway committee held pre-
liminary meeting this morning and voted
to enter first upon an investigation of the
Union Pacific matters. It decided to be-
gin its hearing February %, and to invite
the Pacific railroad commissioners, and
General johnson, commissioner of rail-
roads, to appear on that day. It will
bring the commission bills bsfore the
senate on Monday, in order to have them
provided for the use of the committee.
Charles Francis Adams, president of the
Union Pacific, was before the committee
for short time by invitation, and stated
the wishes of the people he represents;
that the questions involving their inter
ests should be treated in a business like
way and brought to q final settlement.