The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-11
CENTRAL pACIF1o.s DEBT.

MIR. Huntington Proposes am Extension of
Time, the Road to Pay Low Interest.
WASHINGTON, Feb. 10-By appointment, Mr..
G. p. Huntington, vice president of the Central
Pacific Railroad Company, appeared to-day be-
fore the House committee on Pacific railroads to
give his views upon pending legislation touch
ing those roads, aud to explain the resources of
the Central Pacific Railroad Company. The
hearing did not occupy the full time set apart
for the purpose, owing to Mr.. Huntington's fail
ure to appear at 10 o'clock. In fact, it was just
III o'clock when he entered the committee-room.
He said he did not come to make a speech or
gument but only to have talk with the COM
mittee. This 1.-THE settlement of the Central Pa
ciic debit was n very old matter, and somewhat
irritating, and he would very much like to have
it settled. He wished to talk little about the
builders and building Of the Central Pacific, and
90 see If an agreement could not be reached
by which the government could come
into its own and the company pre-
serve it's property He bad been with the
road since its organization, in 1860. His
associates we're all neghbors OF his and came
into the enterprise at his personal solicitation
He had asked them, not because they were men
of large means, but because of their integrity.
He had put in twelve hours day on the COM
papy's business from that day to this, and none
of the company's employees had worked harder.
Men who went over the road in a palace
said it could not have cost much. But it had
cost a great deal OF work. MIR. Huntington con-
tinued at some length. and went over the same
ground he did when before the Pacific railroad
Investigating committee in New York,
months ago. In conclusion, he made a PROPOSE
ton for settlement of the debt of the Central
Pacific on the basis of semi-annual payments
running through period of fffy-two years, with
interest at 2 per cent. Mr.. Huntington
asked if he made his propositions individually
or from the Central Pacific railroad.
''Well," replied Mr.. Huntington, II have no
doubt that whatever here propose would be
fulfilled by the Central Pacific Company. /
have been its vice-president ever since IT'S organ
izAtion."
Mr. Huntington frequently referred to the
equities of his company, and said he was willing
to haye them determined by a court He be-
leved the government owed the road.
Mr.. Weber-H you could build this road for
less than you owe the government. it would be
money-making arrangement to give up the
road TO the government, would it not2
Mr.. Huntingdon prefer to pay the govern
mont and keep the road.
Mr.. Weber-And willing to let you do
IL.
Mr.. Collins-Why not let the So, 600, 900 of
your money now in the treasury 60 the debt2
Mr.. Observation-Disclosures it was earned by
the branches Of the road not subsidized
Mr. Outhwaite--Mr Brotherton, representing
many OF the stockholders, made q proposition to
the committee to
Mr.. Huntington-Well. Mr.. Brotherton is a
good man, but his propositions the prin-
ciple of let the devil take the hindmost"
Mr.. Huntington promised to lay before the
committee. not later than thirty days hence. a
definite and authoritative proposition for the
liquidation Of the Central Pacifcs indebted
ness.