The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-03
After IA Spirited Debate B~Oatner's Mo-
ton TO Put the Measure to Sleep
Was Carried by 1s7 to 1OS.
EQUIVALENT TO REJECTION
OPPONENTS OF THE MEASURE JUBI-
Ian OVER THEIR BIG VOTE.
Appropriation Bills Considered by the
Senate-MantIe sworn In-Denocrnts
Now Without n Majority.

WASHINGTON. Feb. 1.-The Pacific rail-
road funding bill was -recommitted to the
committee on Pacific railroads late this
afternoon by a vote of lit to 10S, showing
an unexpectedly large majority against the
measure. Although the drift has been
against the bill from the inception of the
debate. its advocates were not without
hope, even to-day. The extent of their de-
feat was a great surprise to both sides. The
debate to-day was of a brisk and lively
character. Only three of the eighteen sec
tions of the bill had been read when the
hour for taking the vote arrived. But the
substantial amendment ito prevent the pay
ment of dividends on the stock until the
government debt should have been fully
discharged) was adopted. Mr.. Boatner's
substitute to foreclose the governments
mortgage in case of default was cut out by a
parliamentary maneuvei, so that when the
voting began In the House he moved to re-
commit the bill, a motion equivalent to it's
direct defeat. A proposition submitted as
an amendment to compromise the debt lag
gregating $130, 000,000) for $75,000,000 was de-
feated, and then, as stated above, the bill
was sent to It's doom by an overwhelming
majority. The opponents of the measure
signalized the victory with shouts of jubila-
tion.
When the House was opened for business
a bill called up by Mr.. Cultivate, to tenn
porarily revive the rank of lieutenant gen.
eral of the army met with some opposition
from Mr.. Gillett, but it was passed. The
purpose of the bill is to authorize the pro-
motion of Major General Schodeld to that
rank.
The House then proceeded. in committee
of the whole. under the special order, to
resume consideration of the Pacific railroad
funding bill. An attempt was made to Sc
bate until 2 o'clock. but it failed, and the
bill was read for amendment under the five
minute rule. Mr.. Boatner declared that
some of the sections of the bill We're faulty
and, In his opinion, III the companies filed
their written acceptance OF It's eonditions
Mr.. Hepburn contested this, pointing out
the language of the stipulation and the
compulsory payments the bill enjoined on
the companies.
debt due the United States bear 3 per cent.
interest.
Mr.. Kyle that the bill authorized the gov
eminent to retain in its treasury all mon
eys due for mail transportation and apply
them to the extinguisnment OF the debt.
TRIBUTE TO STANFORD.
Mr.. Grosvenor paid a high tribute to the
late Senator Stanford. one of the men who
were being constantly denounced in connec-
tion with these roads. but. admitting fraud
in the past, he commended that 1T was now
the duty OF the government to adjust this
debt so that it could realize as much as
possible.
Mr.. Mcguire denounced bitterly the
method pursued in this debate, which had
excluded from participation. except under
the five-minute rule. the members from
the Pacific coast, who had given more at
tention to the question than any other.
He maintained that the pending bill con-
tanned no provision for the payment OF the
debt. but it did discharge all the debts
Of the incorporate pirates. who had
a long controversy followed over the
tinguish the debt in fifty years. Mr.. Reilly,
who was standing close to Mr.. Breckin-
that some Of the people in the galleries
craned their necks, thinking they were to
witness q REPETITION Of the
ridge incident Of yesterday.
At this point an attempt was made to ex-
tend debate on the bill until Monday or
that it was necessary to an intelligent I'M
Outstanding of the bin, but Mr.. Lane OBJ
ular order. Mr.. Mcguire accordingly pro-
ceeded. devoting most of his time to the
he Claimed. Huntington. Croker. stanford
and Hopkins, az directors, turned over to
themselyss and stockhoiders ss2 Q 600 Of
men or their estates could be reached. Fiji
teen millions of Huntington's money and
Stanford could be secured. Fifteen millions
OF the estate of Leland Stanford were now
1na M main IN , OBJECT toS this BIT w Ssa to re.
lease that property by operation Of law.
,e M5; W made prs IN rs1,y' in re tSs deeat tine tS ast
the bill reserved all the rights against the
big Four" The had presented
a reasonable and busineSs-like method OF
collecting the debt due from the roads.
Mr.. TERRY'S AMENDMENT.
Mr.. Terry offered an amendment requir-
Ing the holders of the first mortgage bonds
to waive their priority in favor of the
United States when the companies make
provision for the payment of first mortgage
bonds as required before the companies
shall have the benefit of the act.
Mr.. Reilly denied the assertion that the
amount OF payments by the Reilly bill did
not equal the interest ON the debt for fifty
years at 5 per cent.
Mr.. Beltzhoover replied that the effect os
the bill was to extend the debt fifty years
at s per cent. and release. the corporations
from paying. the principal, The govern
allow it to compound a felony in its capac-
ity az q sovereign.
Of Georgia sspliy Mr.. Reilly said that there was
danger that the government would lose ev-
ery dollar IL some adjustment was not made.
II this happened Congress would be reSpon-
Mr.. Lacey offered an amendment to that
of Mr.. Terry, requiring the written consent
OF holders OF the first mortgage bonds to
the conditions imposed by the government.
MI. SW1nson CdilC tClitiO y lit ldCG
that the stock of Union Pacific had risen
81. 20 a share since debate began on the pros
pect OF the passage OF the bill. The third
and fourth mortgage Indebtedness also had
. value. vet Ii was admitted that livestock
would not be worth a %farthing If the gov
ernmert's mortgage were foreclosed. What
ala this mean? Only that this bill would
in some way permit the roads to avoid
THE amendments of Mr.. Lacey and Mr..
Terry were lost.
Mr.. Hudson said If this bill passed, this
Coupress would go down to history as a
Poodle Congress-, influenced by corpora-
tions and under the domination of money
kings. -.
because ii offered a $780, 600 guarantee that
the road would live up to its conditions.
Mr.. McRae favored an amendment provid-
ing that no dividend should be paid to the
sfockholders until the entire debt was dis
charged.
Mr.. Mcguire presented to the House the
concurrent resolution protesting against the
passage OF the funding bill adopted BY the
California Legislature.
SUTRO'S MESSAGE TO CLEVELAND.
Mr.. Hepburn challenged the good faith of
the California people. In support of his
statements he produced a telegram sent by