Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-01-03
STANFORD TALKS.
What the Californian Sgys SDgard:ng
the Rsparts OF tbs Pacific
Railway Commission.
Nobody's BusineBs Eow Much Has Been
Made Out of the Rosd-The Story OF tho
Burning OF the Books False.

an lnrerVleW regarding the reports OF Ine
Pacific railroad commission LAST evening,
Senator Stanford said that the statement
that over 500, 900, 900 was made out Of
the 100000 Of government bonds WAS
the sheerest nonsense. "If we have resi-
lied 100000 out OF the road" he
added, SIT is no body's business but our
own so long as we have faithfully fulfill
ed our contract with the government;
but we could not very well
| make 500, 0o0,0 600 out Of $27,000.000.
We constructed the road at more than
double the cost Of the bonds received
| from the government, but whether four
or 1900 men owned the road, it made no
difference to the government so far IS its
security was concerned"
"But you will admit that little cash was
actu.lly paid by the stockholders and that
an immense quantity of stock was water
ed?"
"What difference does it make whether
1000 or lC0,G0 shares be represented?
That would not prevent the road from
increasing in value would it? 1t is true
that not 8 great deal OF capital was paid
F.! in by any of the subscriptions, but the
road was built ON the stock and bonds.
It was CT little moment whether or not
any money was paid il by subscriptions
as long IS the company observed all It's
obligations. II we had the good fortune
30 be presented with an Aladdin's lamp
with which the road could have been
rubbed into existence, 1t would have been
of no consequence to the government"
chow about the charge hat you and
| Messrs. Croker, Huntington and Hopkins
Idirected that certain books belonging to
fyour company should be destroyed in
Eogder that the commission might not
A.EcrutinlZe them?"
4 "Thet is absolutely false. do not re-
member TO have seen these books. Ger
tainly gave no directions for destroying
them. The commission Was offered every
opportunity for gaining information as to
the affairs of the Central Pacific Com
pany. | refused TO answer but one
question, and that WAS with reference
to giving the names OF confidential agents.
I acted under the ADVICE Of counsel who
insisted that | was under no more obiigs-
ton 20 reveal these names than I would
have been had an outsider been deter
mined TO prosecute an inquisitorial invest
igstion. We have never denied the COM
mission the privilege CT examining our
books. There was not q bit OF testimony
during the investigation which in any
way indicated that any books had been
destroyed. 1t is most violent assump-
ton on the part of the commission to
make such an assertion"
"What services to the government in
your opinion has the Central Pacific not
yet fulf!led?"
"Not one, in facswe are supposed TO do
he I1 acIyp -
contract expires. When g scientific expe-
ditlon is abroad vie the Canadian Pacific
and Vancouver and when goods ere sent
through Canada from tie Uaited States
to reach San Francisco in violation OF the
eminent permits this, it can not
be very a6xious for our railroad
service, and yet such is the case. We
have carried few troops, but the con-
stTuction Of our read through the Indian
! Territory has done much to make War
like preparations unnecessary. We stand
ready TO fulfill any obligation to the gov
ernmept 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, isIt nol!''
"Whst will Congress do with the COM
mission's report?"
"Thal's more than I know. Pattison
Insists that our charter shall be annulled,
the other two commissioners tbiuk bond
and mortgage scheme would suit them
better. Well, I guess the job to annul
our charter will be big one. l would
like to have q court appointed to con-
slider the equities between the govern
ment and the Central Pacific Company as
provided by en act of Congress in March
Ssast that declsredstnst en- enquiry should
be made IS to how much
less time it took US TO build
the road tnsn required by the
contract. AS matter of fact we flushed
the road in 1862 The contract required
Us to complete it before 1876. It wxs
built during war times and at twice the
amount 1t would have cost had we waited
until 1876 before completing it. We
therefore saved the government S7,O00,-
900 annually, or $40 100000 in the aggre-
gate. l may be mistaken, but hardly
think Congress will coincide with oil the
committee recommends. do not appre.
bend that we shall suffer very materially
| from the investigation"
| -1Dn.