New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-11-22
THE PACIFIC RAILROADS DEBT
COMMISSIONER TAYLOR'S REPORT ON THE
BILL TO REFUND II.
He sUGGESTs AMENDMENTS IL THE PROVISIONS
OF THE MEASURE AND ADVOCATES

Is PASSAGE
Washington. Nov. ai.-The special report OF H.
\. Taylor fhe Comm,Sio Of Railroad relative ="
senate bill No. 75l providing for the funding oi 'Ne
debts OF TIE Pacific RalIoai5. which b." mas maui
part OF bis annual report has been received ny Se'I
ary Noble. The report shows that There were bonus
Issued In aid Of thcse roads in The following amounts
Union Pacific, S35 OLE; Central i1cilc, T-''0oo'
$50 There las been paid Iy thc In.tcd states III
interest on these bonds TO December 81, lool' III
excess Of payments made by the companies III rem
barssn nj, FOR Union Pacific s2o3jo,34"; ior len
tTal Paddle, So 2;3,432. Total amount due lhe
n.d states December 81. 1901, from Mon PACING
$4,000 Jo from Central Pacific. $j5,oo9,ll2 Inc
subsidy bonds bean to fall due Jannay ~. l-o5. and
the last due January /, 1-09. The average date
OF maturity l. a')u' July /. lso7. lirs; mortgage
bonds have also been issued these roads, "hcn
constitute a lien prior 10 Tat OF the United States
amounting on tn Union Pacific 10 $50. 'o".Uoo ana
on the Central Pacific TO 7.s53,OO) The hrstmo:t
gage bond, mature at prcticlily Ia" same dates Us
tie subsidy bonds.
The COMMISSIONS reviews the pending measure al
length ana suegcs.s am andmcnts follows:
/. Change the method Of computation in ascertain
ing the present worth o. Tie oruts b! oYYmpoIhnr3
the maturity Oi Ia" supslG, bon a. h'"I huduy a.
stcaG o. win W. rest Only, as p.oNldec IL 'h'
: Make the rate Of Interest pcr ccntum from the
start. .,.,nx
3. Insert special pr0yis3 III section =, r''Ihlms
the Union PaCNc halfway Company TO assign Ia we
Government all IL, rights titles, interests ana quite
I'm crilan mortgage, bonds -tocFS, notes aIi O-l
sDcuIlt.' OF any description. he'd In trhS ~ prA',
Morgan j. CO.. trustee, To secure the payment "
crain notes sIytE III settlement OF the hoatns deps
L. section > providing, i'll case Of dehah b.
said comIqnic, 10 im.e ANY Of Ihr plyments Pr y,
TIE United -ates shall immediately The eHpan mshtHt'
proper proceeding, IN q proper court for The appoint
mem o. re, cigcr- /, u.ncIded ly Inserting after TIE
90. NIL e. "
sccIla. the word upon tue request Of The Pe'i'h
>. Emcnd Section 20 by adding at the end Of
~, section the wo-i,. "tubjeOt however. To thr
prior Zen 0. the mortgages 10 The United states herein
provided To-.
Tao General purpose Of the bill Is the extension
NJ the del. 10 100 years With Interest al per cent
and q certain portion N the prnciph to BE- paid
~ fhe cNmratioa Of each six months during th"'
hue =, iha, al th' end OF tae ~" year 'hc
,r,.r. delf VII. have bcca cx'insui-h'd. The ILL.,
=. aruc,leG t.c Coumis siJncr bcll"'ea. would. Il
enacted int, law fall, protect tn m''rc-t, Of the
G,,enrl.n ard s,cme the hnal payment 70 II Of
al f.. money. pancPa, and Interest. Ga" from The
lo,d,4 rod, lie doe no b'h,vr that any mraaare
GNins ,hartc. poupG Of payment or higher rate
a. ee viii Be- a.c"pIed BY TIE railroad companies
lie say:
It /, usclc,, FOR the Government 10 ln,i,, u i,i
form; q settlement that "a" railroad cuUlihl"' VII
not az ce to. and foll' fr inc ,omIan", a. .r.,IJ
10 condition, moi warranted by their p".rm hhni'Hu
cam accrue e. either pirtf b, ne on imp >ins or
"a, other NJ TO coldlil"h' iDml VIII '" ,
oh",,ld h. mud. 10 pay rapidly a. They ran
rca,nnab, b. expected T. earn O." m'nrN To pay
VIZ H. raj. ~. Government l. compelled 10 p"
uuar it, o COTTON. y present. -'cuiit n ~ p"
ne ned M, ,'l ro-D,, Ga,c # in ihsr power to fve
IP'n th-at c'nat "a. .. ro!h rr".i ucompanic,
qrd tac Government.
Al fin, c.,rnual feature, % the bin are cN