The Bessemer indicator., 1894-10-06
WANT THE RAILROAD.
cALiFoRNiANs HAVE A PETi-
rlON.
They Ask tho Government to Take fos-
session of the Pacific Roads and Oper-
ate Them for the Benefit of the Pee

San Francisco. Oct 2.-The cam
paign recently instituted In this state
having for its end the control OF the
subsidized trans-continental railroads
by the government, is assuming very
large proportions. Petitions have been
circulated and very generally signed
by the business men of San Francisco
and other cities In California, who
have for so many years been held the
subjects and vassals of an all-powerful
corporation. The petition which Is
being signed reads as follows:
To the Senate and House of Represent
atives of the United States
The undersigned. citizens OF the
United States, residing in the states
and territories most vitality Interested
in the management of the subsidized
trans-contiucntal railways. respectfully
represent:
That the bonds issued by the gov
crnmcnt in aid of the construction of
the Central Pacific. Union Pacific.
Western Pacific, Kansas Pacific. Cen
tral branch and Sioux City and Pa
cific railroads will begin to mature on
Jan. 49, 1897, and will fall due within
the following four years.
That the principal of these bonds
amounts to S6I.623,512, and the inter
est paid by the government up to May
81, 1874, and not repaid by the com
panies TO S12,3ti2, ,22719.
That the companies nre under obli-
cations to repay the sums so advanced
rs the bonds mature; that these OBJ
legations are secured by second mort
cages on the road. but that there is no
probability that any attempt will be
made TO meet them.
That the roads have been so man
aged as to diminish the value of the
government security and furnish
plausible reasons for making such II
compromise as would leave the debts
of the companies TO be paid by future
generations of stockholders.
That In the words of the report of
Governor Pattison of the Pacific rail
way investigating commission, "a mere
creditor might assent to n compromise
which, In II sovereign dealing with a
dishonest debtor who had violated all
laws and covenants, would be repuc-
nant to public policy. 1t cannot afford
to cOndone fraud, to validate the in
iquitous work of the Credit Mobilicr,
the Contract and Finance Co. and sim
liar organizations. or to ignore the un-
lawful and outrageous determinations
and cxtortionatc charges and the Grim
inal conspiracies for controlling trade
which have characterized the admins
tration of these railroads since the
date OF their completion"
That to the people Of the Pacific
coast II is matter of imperative ne
cessity TO have an independent means
of communication with their Eastern
markets, that the allied trans -continen-
tai railroads at present constitute
high barrier TO trade. that any new
road built by private capital would
at once join the old combination. and
that the only trustworthy regulator of
rates would be line owned by the
public and operated in the public in
terest.
That the necessity of such line.
obvious enough before has Just been
isolation of California and the other
c0mmonwealths served by subsidized
roads. and the complete paralysis OF
business, caused by quarrel between
the roads and their employees. in which
the people had no interest; disaster
whose recurrence would be impossible
In the presence of an open government
line, free from strikes or labor diff
culties of any kind, as all branches of
the public service are.
In view of these facts we earnestly
beg that no extension of time. on any
terms whatever. be granted for the
payment Of tile Pacific railroad debts,
but that Immediately on default in
meeting the matured bonds the mort
cages be foreclosed. and the roads bid
in by the government and operated as
national enterprises.
And your petitioners will ever pray.
ptc