The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1895-10-21
PROBABLE CONGRESSIONAL &C
TON RELATING TO THE DEBTS
OF THE PACIFIC RAILROADS.

cisco contemporary formal interview
with Mr.. c. P. Huntington on the sub
ject of the debt, in part due and to be-
come due, of the Central Pacific Railroad
Company to the Government. This in
terview was apparently produced. as in
terviews should be, by carefully formu-
lated questions responded to by written
answers. This is the only species of in
terview which may be deemed accurate
In statement or valuable as an expression
of private opinion.
In his answers to the questions pro-
pounded by his interrogation, Mr.. Hunt
ington has adopted that conciseness OF
style, vigor of expression and perspicuity
of thought for which he has long been
distinguished. A perusal of the ques-
tions and answers, which, while COM
pleteIy covering the ground over wide
range of consideration, occupy less than
two columns, will afford the clearest idea
of the relations between the Central Pa
cific Railroad Company and the Govern
ment ever presented. The questions are
direct and simple and go to the very
meat of the matter. The answers are
equally direct, unequivooal and disin-
genious.
The first is: "What legislation do the
Pacific Railroads propose to try to OBJ
tain from the next Congress" To this
Mr.. Huntington answers in his own terse
style: simply such an ACT as will settle
fairly and justly the debt of the Central
Pacific Railroad Company to the Govern
ment." True, he elaborates this in some
twenty lines, but the above is an exact
quotation and covers the ground COM
pletely, and yet there is vast amount Of
information in the statement. 1t dis
closes the fact that the Pacific Railroads
will ask Congress to pass an Act which
will place under way an adjustment de-
signed to settle fairly and justly the
debts.
The second question asks Mr.. Hunt
ington in effect what his opinion is relat-
ing to the probability of the passage of
the measure, including a bill allowing
the claim of the Southern Pacific Com
pany for Sl,S0O,00O. To this Mr.. Hunt
ington answers in a straightforward and
simple manner that be does not know
what Congress will do. but has right TO
presume that it will do what is fair and
Just between the Government and the
railroad. He declares his Willingness to
have any examination made of the rela-
ton between the company and the Gov
eminent from the beginning of the con-
struction of the road to the time Of such
examination; declares that whatever
competent experts will declare that the
company is able to pay. or can pay, and
at the same time take care gifts other in
debtsdness that has priority of claim. he
and other persons interested in the Cen
trial Pacific Railroad Company will be
willing to adhere 10.
In the third question he is asked what
he thinks of the probable vote of the Sem
stors and Representatives on this point
While declaring that he did not know how
the vote on these questions viii stand,
be says that in this, as in other matters,
all that is necessary for legislative bodies
to do is to know the right and have the
courage of their convictions.
In the fourth instance he is asked what
he would regard as fair adjustment of
the Pacific Railroad debt. In answer to
this he declares that he would recon-
mend the company 10 pay all 1t could
beyond what is necessary to pay for cur
rent expenses and the fixed charges that
have priority of claim to the Government
lien, interest. taxes, etc. In the answer
to this fourth question he takes occasion
to say that the Government has saved in
the expense of policing the country which
the road traverses very large sum of
money, and that if the Government OBJ
tanned nothing it would still be largely
the gamer; but this is not proposed as
basis of settlement He also takes occa-
sion to refer to his personal relation with
the construction of the Pacific Railroads,
and says that he would not do the work
again for ten times the money made out
OF the venture.
In the fifth question he is asked: "If the
funding bill should again be defeated,
would the first mortgage be foreclossd ?"
In answer so this he confesses his inabil-
ity to give any information as to what the
holders Of the first mortgage would do.
He says that those who built the road
were compelled to sell the shares SO as to
be able to pay the debts contracted in the
building Of the road. He claims that
there are twenty thousand stock mol ders
interested in the Pacific railroads who
have invested more than fifty millions of
dollars in these shares.
In the sixth question he is asked why.
after the failure OF the Reilly bill, the
Grst mortgage was not foreclossd. His
answer 10 this question is perhaps one of
the most significant of the whole series.
It is quoted in full rs follows:
81 cannot answer this, as l have not
now and have not had during the last
thirty years any of the first mortgage
bonds.n
the remaining questions go to the heart
of the subject. and their answers will re-