New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-31
1T LOOKED LIKE A RIOT
TREMENDOUS EXCITEMENT AMONG DEN
OCRATS IN THE HOUSE.

THE TROUBLE WAS ALL ABOUT LIMITING DEBATE
on THE PACIFIC RAILROAD REFUNDING
BILL-THE COMPANIES INDEBTEDNESS
TO THE GOVERNMENT AND HOW 1T
IS PROPOSED TO SECURE 1T.
(BY TELEGRAPH TO THE rRIBUNE.l
Washington. Jan. 30.-There was a lively skirmish
in the House Of Representatives to-day. In the
course Of which there strong symptoms OF a
riot on the Democratic side. and the Speaker pro
tenn was obliged call for the aid Of the sergeant
alarms 10 restore a semblance Of order and de-
corum Mcguire Boatner, McMillin and score OF
other Democrats their feet at once, gestcu-
latins wildly and yelling with all the power of their
capacious lungs The venerable Holman hoped
about In a frenzy and seemed to be quite beside
himself with rage when Mr. Catchings. OF Mssis-
sippi who was trying toeaddress the House. sternly
bade him "sit down and keep quiet" spectator
not knowing the cause of the tremendous excite
msnt would naturally have supposed that propo-
sition curta the personal liberty or threatening
the personal safety Of members OF the House at
the very least had been broached But 1t was moth
ing Of the sort.
Mr.. catchings had brought in and submitted a
special order for the consideration OF bill to fund
the Indebtedness Of the Pacific Railroad companies
to the United States and provide for the extinction
OF all liens prior to that OF the Government on the
roads. This Is simply and purely business ques
tion Inc raliroad companies owe tne 0oNeriiifehe
about NSooo.0e. security for which II holds
second mortgage on their property and franchises
The indebtedness 10 In the form Of bonds OF the
companies guaranteed by the United States. and
consists OF the principal Of the bonds together with
many millions Of accrued interest. small amount
Of the bonds matured within the present month and
these bonds have been and being paid by the
Treasury Department; A still larger amount Will
mature next year, and In the fiscal years 1897 and
ueS larger amounts still will become due and pay
sole. Besides their indebtedness to the United
Hstes. the railroad companies indebted to the
seal amount Of many millions account OF first
mortgage bonds. which a first lien upon their
nsets and this total Is far in OF the present
aAking funds or Of those which be accumulated
uuder the present law Such. In brief. 10 the situa-
uoa and the question therefore Is What steps can
" ought Congress to take to secure Its rights as
ueentor OF the companies?" This Is by no means
new question. but that has been before Con-
Sress u one form another for some twenty years
""nm that period law-known as the Thurman
~ '-nas been passed to increase the sinking FUNDS.
1"e provisions of this law were found to be made
suA.e some years ago. and in the xLIXth Congress
sn eaoorate bill was framed and favoraby reported
''om the House Committee on Pacific Railroads.
~"cn provided for the issue Of funding bonds bear
ms low rate OF interest and having a long period
" run This bill proposed to apply the same prin-
spe ana plan for the settlement and extlngush-
ent or the bonded Indebtedness Of the Pacific rail-
80 companies which had been adopted by Con-