The evening times., 1896-12-17
PACIFIC RAILROADS TANG[E
Commissioner Wade Hampton
Has a Plan Of Settlement.
WANTS A BOARD OF CONTROL
Full statement of the Existing Debt
tothe United States and the Credit
Against It-Congress Too Busy
to Examine Technical Points-The
Years Report.

The report of Gen. Wade Hampton, Com
missioner of Railroads, was issued from the
Government Printing Office today.
1t states that Cperat ons of all railroads
together for last year show an increase
OF the volume OF freight, but owing To low
rates the gain in net earnings was small.
The bond aided lines, in spite of smaller
gross earnings, 81 ow an improvement, due
to reduct on in operating expenses.
A complete review OF the condition of
these last-namcd reads is given, and their
relations to the United States. The CON
troversy between the Treasury Department
and the Central Pacific, OVER the amounts
credited to the company for transportation
and OF the per cent OF net earnings, is
given briefly, also the acton of Congress
at the last session in attempting 10 effect
a settlement with the companies.
The general portion of the report closes
with the commissioner recommendations.
The controversy between the Treasury
and the Central Pa,iic was referred 10 the
Attorney Il General, who gave an oTinion, hut
the matter is not yet fully adjusted.
TOTAL DEBT TO GOVERNMENT.
The total alindebtedness OF the several bond
al ied companies To the United States on
June 80, 1896, was as follows:
CEion Pacifis, including Kansas Pacific,
principal of bonds issued: S33, ,639 ,512, ON
which interest has accrued 10 the amount
Of S5T ,O7 ,I57.46. ON this there should
he credited S3s s,611 ,OT3.53 applied to the
bond and interest and sinking fund ac-
counts, leaving the balance of debt on the
above date S52 900. 1888.
Central Pacific, including Western Ia
cific, principal OF bonds issued, s.. $685.
$50; interest accrued, sac ,593 AIS .9s;
credits, SIC, 161 1895, balance OF debt,
SOS, S2,Oo9.42.
Sioux City and Pacific, principal OF bonds,
81 ,62S,3 20 interest accrued, s., 81 ,3S7.o9;
credits on account of transportation, S246,-
659.49; balance of debt, S4, l 1904 go.
Central Branch Union Pacific, principal
OF bonds issued, 81 500 900; accrued inter
est, $2,T7s ,60S.26; credits, sea-, ,sSf.SS;
balance OF debt, So, ,735, ,723.3S.
This makes a total for all the roads OF
Sis, ,l33, ,97S.33.
Against this debt there is held in the
sinking fund under the Thurman act, mostly
in bonds OF the compa MES which have u
prior lien upon the road, a total OF S19,-
ga, go. For this fund there are due and
unpaid So, ,432, 900 from the Union Pacific
and $643, 900 from the Central.
COMMISSIONERS VIEWS.
After telling fully of the recent efforts
to secure the government money now held
by the companies, Gen. Hampton says the
biiis VIII bS iSdthVu Soiis hiiS
session. As the debt to the government
is rapidly increasing. settlement should be
reached soon. He continues:
II adhere to the opinion expressed by
me in my first report, and renewed in sub
sequent ones, that the best and most prac-
teal way to Teach settlement with the
is through "a commission, TO be
appointed by the President. The vain ef-
forts of Congress for years to arrive at
an adjustment would seem to justify the
belief that it is useless for SO large a
body To continue 10 attempt To settle
the matter.
Members are always pressed In the dis
charge OF the duties OF their respective c"uI-
mittees, and but a very small proportion
OF them have ever fou nd time To devote to
n consideration of the problem involved in
the determination OF the best method for
the government to pursue. The question is
of vast magnitude and great Importance,
a nd involves so many interests and techni-
cal details that it is almost impossible to
place its every aspect before Congress in
such a ma nner that Intelligent action could
be taken thereon. The commission to be
appointed should be vested with fun and
absolute power to settle the question by
any method which seems to item best, their
action to be subject to the approval of the
President. They should be empowered 70
compel the attendance and take the testi-
IN ony of witnesses, to administer oaths md
to cali for all papers and documents needed
in the course Of their negOtia tions ~