The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-01-03
SENATOR STAMFORD INTERVIEWED.


turned against the parties and warrants
were issued for their arrest.
SENATOR STANFORD INTERVIEWED.
What He Has to Say About the Pacific
Investigation,
NEw IoRx, Jan. 2.--ln the course Of an
interview regarding the reports Of the Pa
ciiic railroad commission last evening, Sen
ator Stanford said that the statement that
over 500, 600, 900 was made out Of that 81, ;.
OoO, 900 Of government bonds was the sheer.
est nonsense. 1--WE have realized $780,.
0Oo, 900 out Of the road" he added 1T il
nobody's business but our own, 50 long us
we have faithfully fulfilled our contract
with the government. But We could no,
very well make 500, 100000 out OF S97,.
100000. We constrlAted the road at more
than double the cost Of Che bonds received
from the government Bnt whether four
or 1900 men owned the road IL made no
difference 10 the government 10 Ear us liz
security was concerned
"But you will admit that little cash was
actually paid In by the stockholders and
that an immense quantity Of stock was
watercd?"
"What difference does Il make whether
1000 or 100000 shares arc represented?
That would no, prevent the roal from in.
crcasing In value would ~ II IL true that
not great deal OF capital was paid in by
way Of subscription, but the mad was
built ON stock and bonds. II was Of little
moment whether or not any money was
paid in by subscription, 10 hong Us the
company observed all obligations. II We
had had the good fortune 10 be- presented
with an Aladdin's lamp with which the
road could havc boon rubbed into exist.
oncc, II would have been ol no consc-
| qucncc Ia the government"
"llow about the charge that YOU and
Mcssr-. Croker, Huntington aud Hopkins
directed that certain books belonging To
your company should he destroyed IN order
that the committee might not scrutinilc
| thcm?'
THAT is absolutely false. do not n.
member 10 have seen these books. Ger.
tainly gave no directions Tor destroying
them. The committee was afforded every
opportunity for gaining information M Ia
the affairs Of the Central Pacific company.
! refused 10 answer but one question, and
that was with reference To giving the names
of confidential agents. acted under the
advice Of counsel, who insisted that was
under no more obligation 10 reveal these
names than ] wouhl iiiir been had some
outsider been determined 10 prosecute an
inquisitorinl investigation. We never lie
MED the committee the privilege NJ exam.
ming our books. There was not bit of
testimony during the investigation which
IN any way indicated that any books had
been destroyed. II IA q most violent as
sumption on the part Of the committee In
make such an assertion
what services "a the government, In
your opinion, has the Central Pacific not
set mlilllcdY'
"Noi one, IN fact. We are supposed Ia
do what the government asks ol ~ until
our contract expires. When q scientific
expedition is sent abroad Win the Canadian
Pacific aud Vancouver, and when goods
are sent through Canada from the United
States 10 reach san Francisco Ia violation
Of the interstate commerce law, say,
when the government permits this, II can.
not bc very anxious Tor our milrOnd Hcry.
Ice. and vet such IN the case. We have
" NV AlhRltHf NNA wv fhllNNNfNlNl
Of our road through the Indian territory
las done much a. make wnrlikc pVpari.
lions necessary. We stand ready io fulfill
any obligation Ia the government called
Tor In our contract. II Il continues to see
III moi Ia ask anything Of ~, Why oursory.
lee IL fulfilled Just the same, u Il not2"
what will Congress do with the com
milicc's tcportY"
That's moro than know. paitison In.
sisis that our charter shall b. nnnulled.
The other two commissioners think bond
and mortgage scheme would suit them
better Well, guess the job 10 aunul our
charter will BE- n big one. I would like Ia
have n court appointed 20 consider the
equities between the government and the
Central Pacific company ~ provided hy an
act Of Congress In March last that declared
that inquiry should bo made ~ Ia how
much lees time II took VA 10 huili thc road
than required by the contract A. mat.
ter oi fact. We finished the rad In 1850;
the contract required us a. complete Il
before 1875. II WIS built during VAR times
aud NJ twice the amount Il would have
cost M had We waited until 1870 before
completing II. We Therefore saved tn
government 5000, 900 annually, or SiD,-
100000 In the aggregate ! may bo mis-.
taken, but ! hardly think Congress will
coincide with all the committees rcom.
mcndations. do not nppchcnd that We
shall suffer very materially nom the In.
ycsiigation."