Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1888-02-15

and samFw hat irritating. He would very
much ike to have it settled. He wished
to talk a little about the builders and
building Of the Central Pacific and to see il
an agreement could not be reached by
own and the company preserve it's prop
erty. He has been with the company since
it's organization. It's associates were all
neighbors OF his and came into the organ
~ization at his personal selection. He had
asked them, not because they we're men OF
large means. but because OF their integrity,
and he pnt in twelve hours a day on the
company's business from that day to this,
and none of the c%ompany's employees had
worked harder. Men who went over the
road in a palace Car said it could not have
cost much, but it had C, st q
GREAT DEAL OF WORK.
Huntington described at length the diff
~culties attending the construction OF the
road. Nobody knew Of the difficulties
except the men who built it and now we
are brought before the American people as
if we had taken something belonging to the
gize for" said he, ''there is nothing l want
changed and nothing l want to take back.
! do want a fair settlement made SO that
this matter san be taken out of Congress,
and we can know just what We have to
do. As to the matter of settlement"
the witness said, my impression
is that if We are allowed proper equities
land l believe the Government does not
want to make anything out OF the road in
the way of interest. but simply to get its
own, and they certainly do not need any
more money in the Treasury at this time)
put down what the companies owe, equate
the interest and fix the debt as OF a GER
tain day. say July LIST next, dividing the
total in $50 ~semi-annual payments, that
is an extension Of
EQUAL TO FIFTY YEARS
or thereabouts on the whole amount land
all great railroads in this country are in
creaslng rather than diminishing the |
OF their mertgages), and if then our
we're allowed, it would bring it in
where we could meet it," The witness said
of the road seven years ahead
of tire was one of the equities claimed by
the company, and he believed that a prop
er tribucal would SO consider it. Another
thing that might be considered as among
it's equities wal the fact hat the country
tributary to the Central Pacific had been
up W OUucT COuIpCUlCOIE.
The Chairman asked if the Central Pacific
claimed that it could not pay it's debt on
payments ia fifty years.
Huntington: You have a record of what
t is doing and it certainly will not pay.
There is nothing in sight.
Tracy esked the witness as to the
mount of the $50 semi annual payments
by him.
He said he expected to get something off
he debt on account OF equities, but he
stimated the payments would be little
hort Of 81, 900, 900 a year. ID
Collins asked if the witness believed the t
Ourts would allow the claimed equities :
UGH as franchises TO the Atlantic & Pacific
nd Northern Pacific companies, and the
act that the road had been completed +
years ahead of time. l.
He responded, Eyes" II
Having inquired whether Huntington Il
his proposition in his individual v
apacity, or for the Central Pacific Rail C
Dad Company, witness replied that he a
poke for the Central Pacific Company. I
he payments OF $1,000, 900 contemplate "
| by his proposition were based upon an b
sumption Of the cash value of the road V
b fifty mil!Ioa dollars. The proposition a
so cont@lnpt ted the payment of interest u
two PEE cent. a
Collins inquired if the pamphlet prepared n
' Conkling anf. Shipman and published III p
e New York papers did not set forth the Il
aims OF the road. "a
Witness could not say positively, but the "
who prepared it had all the in 0
rim stion he could give them. At the Il
Inclusion Of his statement Huntington II
reed to submit n written statement OF a
t credits claimed by the company and . &
OF his propositions as worked q
It. The Committee adjourned uptii to-
orrcw, when, it is understood, Charles
ancis Adams, President of the Union a.
lcific Company, will give his views upon III
e variors funding bille. -