Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1892-08-18
Railroads, Whgse Debts Were Secured,
Given Away or Sold For a Song.
DAMAGING EVIDENCE PRODUCED.
How the Pacific Directors Paid SI92,O
For Legislation by Which the Company
Got s6.OOO.OOO For Nothing
The North Missouri's Debt of
S1,OOO.OOO Released For
&aOO.OOO-warncr's
speech Ana
lyzed
from the Kansas City Tines. l

Mi Warmers speech at Sedaiia has been ac-
cepted by his republican followers as the for
snai declaration of issues upon which they shlu
make their tight this year 1t was the deiiber-
ateiy prepared plea of an attorney whose con =
rsngcnt fee is the gubernaioriaI Office, IL he
shall win his case before the people of this state
for his Clis 1t, the republican party. 1t might
not. perhaps. be urged as objection TO the Sc
rtOus consideration of the present argument
mat this same attorney in an earlier day has
taken fees from the other side in the controycr
-. and. perhaps. it would he unfair to quote
has leading home republican organ the Journal
AZ ats many statements to the effect that he Is
Grader. "trickster.' "a windy patriot" "a
democratic 'possUm," 81 doer of dirty work,
spr IS one who received more than his proper
share Of the champagne fund The Journal in
IFS day has recorded imperishably compressed
testimony OF this character as to the leader o!
SITS party III this year of grace.
Accepting Maj Warmers speech, however,
The deliberate expression of party opinion and
the serious, well considered enunciation of the
ISSUES OF the campaign from the republican
standpoint, an analysis of the several issues
rendered At Sedalia by the party exponent can
Dot be considered untmely, however false they
may be in themselves their conclusions Ii
Il IHanifestly impossible TO shear down at
single cut the extensive field of misStatements
which Warner stood up for Missouri in i single
bot day. but the errors can not run so fast but
that the truth will catch them
To-day the Times presents the complete refu-
fesring TO the railroad debt of the state. Maj
Warner charged in his Sedalia speech that
The most reckless partisan will no. have the
hsrtiihood to claim that the republican party is
rharEeable = 18th any part of the debt" The
whole responsibility for the railroad debt is
charged upon the democratic party. The sta.e
rs declared to have been victimized and the
acts OF the republican state admins tration in
ssuendering Tor about si,oooJU the states
item of approximately S3G,JJO0D for principal
Ard interest on bonds issued in aid of railways,
- defended as a master stroke of finance
This. in substance, is Maj Warmers cam
gsigR charge. What are the facts:
Railroads Built BY the Democratic Party.
In ISL there was not mile OF railroad in
operation liz the state and the democratic
party. keeping step with the progress OF the
age, lnlrSu-a.td system for aiding in the con-
sirucuon % five trunk lines by loaning its cred
at to the corporations taking a first mortgage
On the property. including the lands granted by
Congress to the respective roads.
Under various acts of the general assembly,
from 1851 t. Is 9. the state pledged its credit
for the payment of bonds TO be issued by the
roads. follows:
Pacific. Southwest branch.....-... 45O0O0O
Hannibal & St Joseph ---...--...-.-.. 3.OJJ.0J0
North If isSsour NEUTRALITY-SUSPICIOUS.. 551O,00J
St Louis & Iron Mountain .-...---..- 100000
.afio q ulton- -----------.-----.-.- oooOO
Platte County. NEUTRALITY-SUSPICIOUS.. 10000
Total. ss4, $50, OOJ
Maturing interest not having been paid on
bonds, under provisions of an act of 1857, LIB.
co. of the bonds granted to the North Missouri
and $4,000 of those granted to the St Louis &
Iron Mountain were not issued The amounts
xctually issued are hereby given. the two tables
being set out in full that the omission OF one
may not give occasion for the application of ia-
sincere criticism by republican jugglers with
figures:
Poetic S-o,o ooo
Pacific. Southwest branch. ........ 800 900
Hannibal & St Joseph =. 3 0O0. 900
North Missouri Observation-Disclosures. 1850 OO)
st Louis & Iron Mountaiu ......... 3,5I1, 90
Cairo & Fulton Observation-Disclosures. go 900
Platte County. ...... NEUTRALITY-SUSPICIOUS.. 10000
These bonds all bore per cent. interest, ex-
except s., 91l0D of the Pacific southwest branch
Esyuds, which bore per cent.
In 1873 the property of these corporations. on
which the state held first lien security
against loss. was worth more uhan The amount
~ the states lien. The value was estimated at
the time to be from 49,, OOO,OO0 to as, 600 COO
How tie republicans protected the interests of