Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-02-03

then proceeded In committee OF the
whole under the special order to re-
sumo the confederation OF the Pacific
railroad funding bill. An attempt was
made TO secure an agreement to con-
tinuc general debate until . o'clock,
but II failed, and the bill was read for
amendment under the i've minute rule.
AIR. Boatner Democrat. OF Louisiana
declared that some OF the sections OF
the Bill were faulty and in his opinion
II the companies filed their written ac-
cept,nce OF Its conditions the hands
Or the government would be tied FOR
nifty years.
Mr, II. Hepburn. Republican, OF iowa
contested this, pointing out the LAM
guage OF the stipulation and the COM
pulsory payments the bill enJoined on
the companies.
An amendment was adopted making
the debt due tho United States bear
per cent interest.
Mr.. Mcguire, Democrat. OF Call
fornla, challenged the statements OF
Mr. Kyle, Democrat, OF Mississippi
that the bill authorized the govern
ment to retain In It's treasury all
moneys due for mail transportation and
apply them to the eNtinguishment OF
the debt
Mr.. Grosvenor, Republican, of Ohio,
paid high tribute to tho late Senator
stanford, one OF the men who were
being constantly denounced In connec-
tlon with these roads, but admitting
fraud in the past he contended that Il
was now the duty of the government to
adjust this debate so that IL could
realize as much IA possible.
Mr.. Mcguire denounced bitterly the
method pursued In this debate which
had excluded from participation except
under the Ave minute rule the MEM
bers from the Pacifc coast who had
given more attention TO the question
than any other. He mclntained that
the pending bill contained no provis-
Ion for the payment OF the debt but II
ala discharge ali the debts OF the
incorporated pirates who had raided
the treasury OF the roads during the
last thirty years.
long controversy followed over the
question as to whether the blu would
eNunsuished the debt In nifty years.
Mr. Reilly, who was standing close
to Mr.. breckenridge was so emphatic
In his gestlculatiOns that some of the
/ members crowded about the galleries,
craned their necks thinking they were
TO witness a repetition OF the Heard
Brecldnridgc alteration Of yesterday
An attempt was made to extend de-
eain on 60 bill until Monday or Tues
day The leaders on both sides agreed
that II was necessary to the Intelligent
understanding of the bill, but Mr..
Lane DemocraD OF Illinois objected
and Mr.. Lockwood Democrat of New
York demanded the regular order.
Mr.. Mcguire accordingly proceeded,
devoting most of his time 10 the dis
cussion of the frauds by which he
claimed Huntington. Croker. STAN
ford and Hopkins as directors turned
over TO themselves as stockholders
sG2.0OO,0OO of profits.
The time was at hand when these
men or their estates could be reached.
Fifteen millions of Huntington's money
and fifteen millions of the estate of I.o-
land Stanford could be secured. Fif-
teen millions of the estate of Stanford
were now tied up to satisfy statutory
obligations. The main object OF this
bill was to release that properly by
| operation of the law.
Mr. Weadocls Democrat) Of Michigan
in reply reiterated the assertion
made previously In the debate that the
bill reserved all the rights and rene
dies against tho "Blg -Four" The
bill. he said, presented reasonable
and business-llRe method Of collecting
the debt due from the roads.
Mr.. Terry Democrat of Arkansas
offered an amendment occurring 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.. Lacey offered an amendment to
that OF MIR. Terry requiring the writ
ten consent of holders OF the first
mortgage bonds to tho conditions i'm
posed by the government.
Mr.. Swanson tDcm) OF Virginia
called attention to the fact that the
stock OF the Union Pacific had risen
$l.5O a share since debate began, on
the prospect OF the passage OF the bill,
The third and fourth mortgage indebt-
edness also had value. yet II was
admitted that the stock would not DC
worth farthing II the governments
mortgage was foreclosed. What did
this mean? Only that this bill would
in some way permit the roads to avoid
their obligations. The amendments OF
Mr. Lacey and Mr., Terry were lost
Mr.. Hudson pop) OF Kansas said IL
this bill passed this congress would
go down into history as doodle"
CONGRESS- influenced by corporations
aud under the domination OF money
kings.
Mr.. Cannon Rep) OF Illinois favored
tne Dill ptSEuse ~ phHl'u "a SfytNVNfsSN
guarantee that the road would live up
TO It's conditions.
Mr.. McRue CDem) OF Arkansas IA
vored an amendment providing that
no dividend should be paid 20 the
stockholders until the entire debt was
discharged.
Mr. Mcguire Dem) OF California pre-
scented 10 the house the concurrent
| resolution protesting against the pass
age OF the funding bill, adopted by tho
| California legislature.
Mr.. Hepburn, Republican, OF Iowa
| challenged the good faith Of the CALI
| fornia people In support OF his state
lnents he produced telegram sent by
| Mayor Sutro of San Francisco TO the
| president which said that history would
| record Mr.. Cleveland as the greatest
| benefactor of the human race If he
| would send a special message to con-
| Eress recommending the foreclosure OF
! me Pacific railroad mortgages. The
/ telegram added that the government
| ought not to operate those roads, but
| should hold them as great national
/ highway, on which all American roads
/ could run trains.
The Pacific coast. Mr.. Hepburn con-
tended, opposed this bill in It's own
selfish interest.
nTr Narilre offered an amendment