St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-03
POSSIBLY IT IS,
But the People Would Like a Clear IN
Outstanding of It.
MR.. STANFORD INTERVIEWED
He Claims 1t Is Nob0dy's Business How
Much Money They Have
Made,

NEW ORk, Jan. I'LL the course OF
an interview regarding the reports of
the Pacific railroad commission last
evening, Senator Sanford said that the
statement that over Sl00,000.000 was
made out of that S27 100000 of govern
ment bonds was of the SheereSt nom
sense.
IF we have realized S10O, 00O.OOO out
of the road" he said, lit is nObody's
business but our own, so long as we
have faithfully fulfilled our contract
with the government. But we could not
very we'll make S100,000,0O0 with S27,-
100000. We constructed the road at
more then double the cost of the bond
received from the government. But
whether four or 1000 men owned the
road, it makes no difference to the gov
eminent so far as its security was con-
cerned."
But you will admit that little cash
was actually paid in by the stockhoid-
ers, and that an immense quantity of
stock was watered?"
What difference does it make
whether 900 or 100000 shares are rep
resented? That would not prevent the
road from increasing in value, would it?
1t is true that not great deal of capital
was paid III by way of subscription, but
the road was built on stocks and bonds.
1t was of little moment whether or not
any money was paid in by subscription
SO long as the company observed all OBJ
legations. If we had had the good for
tune to be presented with an Aladdin'S
lamp with which the road could have
been rubbed into existence, it would
have been OF no consequence to the gov
eminent"
"How about the charge that you and
MeSSrS. Croker, Huntington and Hop
kinS directed that certain books belong
ing to your company should be destroyed
in order that the committee might not
ScrutiniZe them?"
That is absolutely false. do not re-
member to have seen these books. L
certainly gave no directions for destroy
ing them. The committee was afforded
every opportunity for gaining informa-
ton as to the affairs of the Central Paci-
fic company. l refused to answer but
one question, and that was with refer
ence to giving the names of confidential
agents. | acted upon the advice of cOun-
sci, who insisted that l was under no
more obligation to reveal these names
than would have been had some out
slider been determined to prosecute an
inQuisitOrial investigation. We never
denied the committee the privilege of
examining our books. There was not
bit of testimony during the investiga-
ton which in any way indicated that
any books had been destroyed. 1t is a
most violent assumption on the part Of
the committee to make such all aSSer-
tion."
"What services to the government in
your opinion has the Central Pacific not
yet Fulfilled"
Not one, in fact. We are supposed
IN yIyh1 St- of
until our contract expires. When
scientific expedition is sent abroad via
the Canadian Pacific IL Vancouver, and
when goods are sent through Canada
from the United States to reach San
Francisco, i'll violation of the interstate
commerce law, say when the govern
ment permits this, it cannot be very
anxious for our railroad service. And
yet such is the case. We have carried
a few troops, but the construction of
our road through the Indian territory
has done much to make warlike prepa-
rations unnecessary. We stand ready
to fulfill any obligation to the govern
ment 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?'
"What Will congress do with the com
mittee'S report?"
THAT'S more than | know. Pattison
insists that our charter shall be an
nulled. The other two commissioners
think mortgage scheme would suit
them better. Well, guess the job to
annul our charter will be big one. |
would like to have court appointed to
consider the equities between the gov
eminent and the Central Pacific com
pany, as provided by an act of congress
in March last, that declared that in
quiry should be made as to how much
less time ittoOk us to build the road
than required by the contract. As
matter of fact, we finished the road in
1869; the contract required us to COM
plete it before 1876. 1t was built during
war times, and at twice the amount it
would have cost us had we waited until
1876 before completing it. We. there
fore, saved the government S7,000,000
annually, or S49,00O.0OO in the aggregate.
l may be mistaken, but 1 hardly think
congress will coincide with the commit
tees recommendations. [ don't appre-
bend we shall suffer very materially
from the investigation"