Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1888-03-24

,.,o,,t ,-o,,-xo-.o,;o,, - - :x :.
ntelt tIans anu tnen, II at the enc Oh
the fYn;,ad States bad pot rnoid POI s'Dn VI,
$780, 81 ra;bsaay, Ae ~, q sun sun
;tt \ ~ - ~. L;' tne ooHSlu!iS q
~ rao,,,,r AZ 5., SUN wy
~ - ' .sIo r1ss s.t ~ -, !. ueiIo. SCI
s.e tot,u' pus .ns 1os lishs tnte1 upon
anu taAe P45sessi9i u sne Loau aHu holu II Ioi
t +; i Hnu W IN ~
oo,, 10 m la ny ioL ueD
. ~ uP q .ioi '5eiSo .ii' Ieso tIltt'
~ ~ an 90 Pm 70 repay
ueo., ~ 70 ny .as, lnt
, aSS i 20! .SSe o., ~ y? ~ sIcn
fbat r. tha- Il 10, IN .h "a
&C. -, 80 az 10 -, 30 - &c - eti o =;
ShSe " pa! tle ueot' anu tIete - in
W as ..r =. tio uDt go " " ny ptI, wy
~ Us ias eii.ei upoI anu tihe poesessspu
has 'ii"' 'iii' 10 'iie oiiS AeHieuS He
,,-
"hAi MAJ hE poNE'
so the case stands, and we are now consider
ing the legal rights OF the company and OF the
United states. II at the end OF the thirty years
fIn;ted tats ~ :, ~ IA ~, ~
conditions on lis part, may enter unon and take
possession of the road
No one denies that we have huilt the road
No one denies thst we have maintained and
kept it in order and repair. Oursis tbe election
at the end of thirty years TO retain the road OF
to surrender il to the United States and whom
we make thar election. if we surrender il tn The
Government, we are under no further ohligo.
lions To give the Act a different construction
WOQl1 I I
the Government should ioreclose the morfeaGe
und soil The road me rnrnl, nsar ,,,o,15 80 :,
relieved from ali obligations To the Goyernmept
and the main intent and purpose of this Act
would be defeated That this is trne thar Con-
gress never contemplated any other consttue.
ton is proved by The fact that when the TTnitcd
States in 1864 amended the Act and author
lied u mortgage for the first time to be made
unon IN road tbev nrovided tbs+ ~. 49,
gave should be snperor to the lien of the Inited
States They Above ed that mortrape to he fore.
closed they allowed the rosd 10 he cold unjer
it. But they expressly provided that that mort.
gage should be subordinate 10 the preat nI1rnoSe
OF this Aet-subordinate to the Government,s
right to control and maintain this road for Tho
main purposes for which n was buiIt The Oh
LEGATIONS then assumed nv the coTnnar,- Ir, 70
build the road keen il in repnir To nsv : nor
cent of the uet DrnceedS 10 alfnt, no Gown,
ient TO retain the cost offs own frarsnortatfoi
and at the end Of thirty years. if any balauf e
Meig uuS tne government, TO pay that or TO sur
iSLiei 'Io io"u'
MUTUAL CONDITIONS.
But that contract WAS not one-sided II non.
tanned covenants and conditions which ,[r ~
be performed bv the Government Of tba T-5,iIad
States IL was contrsct restin NO, ,,S,,,,
and depends upon mutual and Senendeni c",,i
ensnis, and tbs. Government if If has olsted
the conditions on its Dart cannot enforce tbe
conditions to be performed nv ms ''-0
1t is an elementary rule Of law hot ono ,yb,
seeks redress upon a contract Containing mutual
and dependent covananis me- te5 ~. a.i
succeed. perform ali The covenspfs o hi ie ,[
TO be performed
If at the end ofthirtv wears rve sbould r.r,sa
to pay the balance. and the Government shouId
bring its action 10 recover nosSeSSion of mo
DroDertv We sho,,ld ba,,o y =, VI sLIe
action by saving 10 the GoyerIment W., ba'le
not performed the conditions on Iour nart ard
therefore Won cannot avnect ,,o,ti,,,,' - So
u.s." '--
This would he a connleto onev,ar 10 q, ,,.io,,
at law. If the Government shonld nrnceed in
equity then, before il could recover onVthinr
from us the Chancellor would reonira n ejthaT
to perform all of the obligations oftbat contIact
toward us or If those obIipntions ,vera inconaJIe
OF specific Derformonce 10 cornnarsat, ~ ~
damages. II il should ever come Ia thar we
feel very confident that The amount if snv
which the Government could recover would ~
SO small that it would not be beyond our reach
to make the navment - -e'0-A
rr.,,,- ,,,-,,,...,,...
sold =, .ho
chow tha ~, ~ pe4iiiIls tlat WouIu not only
as tr,s,' i9u pei iollileu al OF our duties
Oh sr,.I Drt W0ulu snow thst we hsd dis,
he 81 vi tlat contract toward
~ III tile same spirit III which the
ca sIaluan 70 discharge any obli-
II e. "a '- 10, ~ "eii " C.
e,rast is 80 a.; ti'ls tlie government mace
nav Snecit;c 49, ~ ~ Ing .nIs company 70
- . sPSNAlC sum anu III not recurring TINS
,S lti W PIot luy d siA Iuuu 10 olscharge
he '' :; iiear on every size that
,hSsa a. iI! 10 III i"ull oecause II mas not done
fbinL Tba co,-o-,,,,o,,. u.,.-,.. 4.
Ill ~ - ~ eminent OuSHt " DC pretty
he obi;ati 70 ~ az! ooutiactoI VINO performs
W. Us '. e'l, -; " ms cIltIaCt,
"a, ~ %! N compete answer 10 All these
bnnd y 'i''' II was Ho' 81 nominated III the
II hoe b,,,, cot, tI,,. ,,-, ...
1 I - nvGi ,ttiu tIst we INTENDED 70 detTaud
$50 tb 49, ~ ileis ma ueel no houI from
ioVJ, 'le uate oi the completion OF TINS road, on
IN tIAl II tue directors OF TINS
wreck this road and entirely dastrov ~ 60 70
They had but TO make n ,lefanIt in he nayrcanr
Of interest on the frstmortt,aea bonds y-,,
foreclosure and n sale and hafora Gdno-las
could have acted or made nm Observation-Disclosures, -
he proper time had been seIectad for brino, .,
such a suit and MAKING a sale tho titIa - ~
purchaser WouId have Vested ana hec-,,Sa -
ute and the second mortGaSe Womb haI,e LooJ
inherent ~
WHAT NIGHT pv
,toro .t,, ut. g. go
So 49, -, ,b ~ o.N's VI SailloIIa from
no, tj ~ IN Pi s ~ INT Hdu leF6cu tax
- " - "a tliIs Cpin Pahy. 90 Iar as
~ a. aGiilG hellIoau CoinpaIs mas any
- % kt'iT W ~ Is GeINeu from the Gov
-, -, Va ~ SittJ nv STATES mat iIailchlse
ar S 10 ei AZ ,,1a a. a. eat me Dl
u ,o,,, ~ " a. " -. y! 4uleti! anu
~ ~ ny NIs tlese questions TO go
80 tanlLi ~, ~ PoPSItS " Dc solC' lhcIuulhg
,otb h anu 70 Dlu ~ IN anu undercut
pt - go 90 az ny seooiiu
h. oo,,,,D, 10 - go ~ HoIS, IHc couIse VI
~ LII tI+ IS Laie'iui " tIie government
iieil .nt mas peen iaiSe 70 them
"a -! Leais'S 81 'lL!s aluIing palt
be =, S1h[eS S 'lS LlsnS 70 collecI
-, 80 "a H. :. vas eue ulitS vi lle directors To-
,iH ~ .le E ~, !HilehS VI tle OnlteQ states TO
,,s eie ile;It VI any Douy 10 impair the
- H. 80, "a ny III 'Sreste VI tls Oll.eu states
ne,, ond az fai,Sst1 80 pou. ~. as hon9rdple
ia If go '-N''SS' W w ~ ohu theS
-N ~ .,, - - 49,
"llHsIooD ihsFIAIloN'
Yet at one time, when their course was mis-
III California there was such a
torm raised that the Legislature was convened
n extra session ana political parties were rent
twain over this very act Aye, more than
nat, when this company Il few years ago stood
the Supreme Court OF the United States and
alu 10 that Court that the franchise which the
government gave to them, the interests which
he United states had in thar road could not be
he subject of State taxation, that no State could
axe from the United States its right to contract
nd manage the road and sell it Mt public auc-
ION lor taxes, the company stood there in the
althiul discharge OF its duties, while the At
of the United States represented
ne otner size, ana the whole power which this
government could command was welded
galnst It's interests and against the security
'hich 1t had. We had but TO be silent in that
our TO have closed out forever the interest
lhlch the Government otthe United States had
q this road, and no man knew it better than
ne Directors of the Central Pacific Railroad.
AS they then stood faithful to the trust which
he United States imposed upon them, they now
tand faithful to the trust which the stock
olders of the company have imposed upon
hem, and will resist TO the utmost of their |
over any assault maze upon their rights, come
We did what the Deople who gre assai1ino ne |
av we ought to have done We did eStahI7SSb q
mixing fund. We estabIisbed and bovc ,,,ai,'
he debt which constitntes the rst pS on
hir rood E,.r,, fl(iIar "a .s.,.s1.,. - 80. W.