Omaha daily bee., 1895-12-08

liens prior to the said liens Of the United
| States affecting the properties above re-
| referred to. including the power to take as
signments Of any foreclosure DEGREES or mort
cages securing such prior liens II necessary
| Third The entire railroad property af-
| fected by said government liens, extending
| from Omaha to San Jose, shall, under orders
| Of court to be entered in the suits to fore
! close the said liens, be forthwith sold, under
| the direction Of the secretary of the treas
ury, to such purchasing committee or cor
| poration authorized to take title to the same
| as will sgree to refund the entire amount ad-
vanced by the government for the discharge
| or purchase OF prior liens and Of the inter-
| est on the same and an amount not to be
| less than a sum limited by congress as to
| the minimum to be received in satisfaction
| of its claims against the Union Pacific Rail-
way company and the Central Pacific Rail
way company.
"If at such proposed sale no committee or
corporation will bid the minimum price so
fixed, 1t shall be the duty Of the secretary OF
the treasury to report the facts to the next
session Of congress for such further action
in regard to the minimum bid as congress
may think proper to take.
1.-THE purchasing committee or corporation
purchasing said railroads shall have power
to possess, control and operate the same, and
to complete construction between Sacramento
City and Oakland, shall not be allowed to
consolidate with other transcontnental lines
tions as to freight and passenger fates."
The object Of the proposed bill, ~as stated
by Mr. Coombs. is to realize the intention Of
congress in extending aid in the construc-
ton of what was expected to be uniform
transcontinental system from the Missouri
river to the Pacific ocean.
A violation of this understanding Is, in
his opinion, main cause Of the present de-
plorable conditions, the Union Pacific being
absolutely at the mercy Of the Southern Pa
hp
leased and Of which 1t is under full control,
compulsion being brought to bear upon ship
pers who wish to ship by the Central route
to the east to compel them to ship by the
Southern route.
The result desired and the object proposed
by Mr.. Coombs can only be reached, in his
opinion by efectng reorganization Of the
main lines Of the Union and Central Pacific
railroads, and no settlement should be ef-
fected which does not include in Its terms
a settlement with both companies
He declares that this demand should be
insisted upon by the government, even to
the extent OF foreclosing its lien, II 1t can
not be brought about by amicable arrange
ment.
GOVERNMENT BONDS ISSUED.
Reports Of the commissioners OF railroads
show the bonds issued by the government for
the aid OF railroads to be as follows;
=, Union Pacific Od dRailroad-Maturity Of o bond; ID
tsnaaayy tEeenaayy iss4 ssiS siSSSS
January !. 1898, Observation-Disclosures. l5,9195i2
January J. 1899 Observation-Disclosures. 3,l57, 900
Kansas Pacific Railway-Maturity OF
November /, 1895. .,,.,..,..,...........s $4,000
January !, is9G ....,...,............. i,4to, 600
Central Branch. Union Pacific railroad
Maturity of bond:
nsry }snSsry ! s. siSSSS $$
Central = Paclac MISUNDERSTANDING Of
bond:
January l6. s5,.,....,......,..,...,,s2 2ss2 600
January l. lsgS; .'.........'''.....'.,.,. l,t0geo
January ], Ss7'........',...,.',...., 2ii2'0o0
January L. 1888 .,,'.,'..''..,,.,..,.. lOblf, l1O
Western Central Pacihc Railroad~Ma-
turity of bond:
January /, 1897. $4,000
Sioux city & Pacific; MISUNDERSTANDING :H
OF bond
january 1, l62S. 80
These bonds. issued by the government
under the act OF July /, 1852. CONSTITUTED a
frst mortgage on the whole line OF railroad
and telegraph, together with the rolling
stock, fixtures and property OF every kind
and description" But the act of July 2,
1864, amended tha act OF July 1, 1862, SO as
to authori2 the issue OF first mortgage bonds
by the respective railroad companies "to an
amount not exceeding the bonds of the United
States, and OF even tenor and date tims OF
maturity. rate and character Of interest with |
the bonds authorized TO be issued TO said |
railroad companies respectively"
FIRST MORTGAGE BONDS.
The lien OF the bonds issued by the United