The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-01-14
THE PACIFIC ROADS.
Huntington and Adams Lobby
ing in Washington City.
THEY WANT DEBTS REFUNDED.
A Strong Party in the House VIII Fight
the Proposition to Extend Time
Of Payment Of the Bonds.

wAsHIxeroS CITY. Jan. I3.-fspeciaLf-C. p.
Huntington stsiked about the corridor of the
capitol today, penetrating the committee rooms,
shaking hands with representatives and sena-
tors, and holding brief consultations with the
friends OF both bodies OF congress. His arrival
at Washington City and his presence 81 the capi-
tol Is regarded forecast of great agitation in
governmental railroad affairs.
Charles Francis Adams is also IN the city, and
there promises TO be gathering of the leading
men in the Pacific subsidized railroads for the
purpose of putting through the bill reported at
the last session OF congress deferring payment
OF the railroad Indebtedness 70 the governments
fifty years and reducing the interest 20 ~ per
cent
But Mr. Huntington and NJ Adams will not
have plain sailing. The opponents OF the meas
ure showed their teeth the moment the visit OF
the railroad nsguates was known, and yess Wig
orous means win be adopted 70 prevent the bill
being called
Congressman Anderson OF Kansas, whose an
tagonisn TO subsidized railroad schemes Is well
known, said TODAY:
The bin comprises one OF the most audaci0us
pieces of work ever brought UP In congress- and
while know of no ones intentions, know one
man az least who will put every obstruction IN
the way of legislation that would be considered
brazen and criminal by the people. Hunting
ton and Gould and stanford have mortgaged
their properties 10 the limit They cannot
realize another cent, and noy they want the
United States TO extend loan OF si0.oa0,oo0- due
in about nine years, reduce the interest 70
debt on the shoulders OF those who viii follow
them. The lifting OF the obligation VIII not
concern them during their lives, ii they succeed
In their remarkably bold scheme. And what
securities do they ofeT2 Worthless railroads
tina. are buried deep under mortgages for i'm
meEse sums"
Mr. Anderson is intensely earnest in his oppo-
sition 10 the plans of subsidized railroad man
ayers, and he has a large following in the House
The plans OF Nr. Huntingdon and senator
Stanford widely divergent. and 10 Is said that
10 this difference Of opinion is largely Que the
GOODNESS that now exists between them Hunt
ingtons ideas are II accord with the provisions
OF the bill. He wants the government TO extend
the time of payment of the debt that il viii be
left 70 pos-erify TO wrestie with Senator stan
ford wants the debt paid 10 the government be-
fore he dies. His plan Is first 10 ascertain just
how much the railroads owe 20 the United states.
Then there are certain considerations which he
calls equities 20 be reduced 10 dollars snd cents
and deducted from the Indebtedness. These
equities consist in part OF the claim that when
the Central Pacific was projected and operations
were commenced, IL was understood, and even
promised. that the railroad should extend from
the Pacific coast 70 the Missouri river; but the
government went back On its agreement and
gave the Uuion Pacific its start in life, thus en-
croaching upon the Central Pacitics ground Il
is also claimed that the building OF the Pacific
railroads made Ii possible for the United States
10 convey its train loads OF mail for less money
than was required 10 haul q small armful OF let
tiers in boat or stage coach before
To make these computations Eve or six years
viii be required, and then il is proposed 70 60 on
due by placing 8 blanket mortgage on all Pa
eifc property, treating all alike and binding
them by some agreement.
senator Fryes committee on Pacific railroads
was called 20 order today 10 hear further argu-
menfs on the bill already reported from the COM
miTtee TO secure payment 20 the government OF
the Indebtedness OF the Union and Central Pa
cihc Railway Companies. The Union Pacific
Railway Company was represented BY jeremiah
Wilson, who said in substance that at a recent
reorganization OF the company the management
now found itself unable to accept the terms for
merry agreed TO by il and embodied IN the bill
The reported financial condition and future
prospects of the Union Pacific would not
rant itin obligating itself TO meet such heavy
payments as were proposed. Wilson concluded
with the statement that the company would ac-
oept proposition to refund its debt at ~ per
cent. interest. payment TO be based upon term
of 100 years, instead OF 3 Per cent. and fifty
years, as proposed in the bill.
The Central Pacific Company was represented
by President Huntington. He said. that mas
much as the Central Pacihes earnings and pros
poets were below those of the Union Pacific, II
better terms were granted that road. the Central
Pacific debt, fixed IN the bill for loo years and
per cent interest, should be favored in a cor
responding degeee by further reduction OF in
teresf and an extension OF time II this were
done he would Be willing 70 apply part of the
earnings OF the Southern Pacific railroad 20 the
repayment OF the debt OF the Central Pacific