Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1895-02-26
THE FOUR ROBBERS.
HOW THEY BUILT THE C. p. RAILROAD
AND STOLE $15o,0oo,ooo.

swindled tho Nation. the State Of Califor-
mia and Several Counties-High Handed
Thievery Practiced by Means Of Contractv
Awarded to Themselves.
The Central Pacific railroad as at first
built was begun Feb. ~, 1868, and was
completed May 10, 1869. 1t extended
from Sacramento, in California, to near
Ogden. in Utah, where it joined the
Union Pacific read. Its length was 900
miles. In 1870 it was consolidated with
the Western Pacific road. 10. SO miles
long, from Sacramento southwark and
westward to San joss. This consolidated
road-860. Sc miles long-is tho road as
aided by the United States. which has a
lien on it accordingly. Since that time
it has boon variously enlarged, but the
engagements are not subject to that lien
This road was built and has been wreck
ed by Messrs. Coils P. Huntington, Le-
land Stanford. Charles Croker and Mark
Hopkins, who are often called the big
four, and WHO will, for shortness, be
called in this paper the four. It is the
road whose debt Of not less than So.
900, 900 to the United States began to be
due Jan. Is Of this year. An outline
Of the financial history of his road can
be given in a very small space:
Four men - Huntington, Stanford,
Croker and Hopkins-built the road.
They received in trust for this purpose
and to pay its debts from the United
States, California and four counties in
it over $l85, 900, 900 in money and prop
erty. They were allowed IL years to
build tho road and 80 years to pay the
debts The 80 years are beginning TO
expire. The four of their estates are
worth unknown amounts, variously es-
timated at from $50, 900, 900 to $780,
600, 600 each
This money they took from the Gen.
trail Pacific road. By using the money
Of that road they have also built new
road, calculated to take away the bust
ness of the Central Pacific road, which
new road they own. They have made no
effort to pay tho debts of the Central
Pacific. And the road is bankrupt, And
now they ask tho United States to take
this bankrupt road off their hands, to
lose ali its advances to the road and
to pay the debts Of the road besides.
The steps of this remarkable wreck
ing operation extend over moro than 80
years, beginning in 1862. The story,
in a somewhat fuller form, is as fol-
lows:
The wrecking machinery was very
simple. 1t consisted Of an arrangement
by the four to be three parties at once
wrecking trinity, so to speak. They
arranged to be (n the stockholders and
owners of the road; (2) the directors of
the road; (S) the contractors for build.
ing the road. AS contractors they ap-
peared successively under four names
viz, Charles Crocker & Co., organized
Dec. 20, 1862; the Contract and Finance
company. organized December, 1867;
the Western Development company, or
ganized Dec. 10, 1874, and the Pacific
Improvement company, organized Nov
2, 1878, which last is still in operation
The transparent nature of the pre-.
tense that these machines were really
separate companies is sufficiently shown
by one fact. No money was paid in as
capital to any of them; when money was
needed, the four stockholders either ad.
vanced the cash or Endorsed for the ma.
chine to the required amount
The first 81 miles of the road east
ward from Sacramento were built by
several outside contractors bef.re the
wrecking trinity was invented. On Dec
rs, 1862, this machine was first set up.
Two days before Mr.. Croker resigned
from the board of directors aud organ.
lied the contracting firm Of c. Croker g.
Co. The other three of the four (the Eve
dummies who were for time nominal.
~ directors along with them need net
be even named) on this Goth of Decem.