The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-03-17
PLAN TO SEIZE PACIFIC ROADS.
How the Debt They Owe the Governmen


Is to Be Collected.
Washington, March 16.-Mr. Hubbard
OF Missouri, a member of the committee
on the Pacific railroad, has prepared a
bill looking to the settlement Of the in.
debtedness Of the Pacific roads. The
measure directs the Secretary of the
Ire asury to ascertain the exact amount
due the government by the roads up to
and including July /, 1896. When this is
| ascertained, he is to demand of all the
| roads to which subsidy bonds have been
issued, that the bonds be paid July /,
next. In case they do not pay on the day
named, he is TO take all their property
| real and personal for the benefit of the
government. On that day he is to offer
the property for sale at the Treasury De-
par tment. In case no one bids, the
amount of the government debt, the at
| torney general is to bid the property in
| for the government.
In case purchaser is found, third of
the purchase money is to be paid within
| thirty days and the balance in ten years
| in an equal amount each year. In ca SO
| the property is not sold the President is
| to appoint three government trustees,
| after which the employees of the road are
| to form an association and elect three
trustees to represent them. These trus-
tees are to manage the roads, A portion
" oAAO Oes1h h1AS5o ehl0 W Uo bcU tSlu6 Luz Uu6
benefit OF the employees, and the net
profits to so towards the liquidation of
the debts of the corporations All public
lands not patented or subject to patents
granted the roads, are to be returned to
the public domain.
Railroads Subject to State Taxation.
Washington, March 16.-The Supreme
Court to-day in an opinion read by Chief
Justice Fuller, affirmed the decision of
the Supreme Court of California, to the
effect that the franchises, capital stock,
etc.. of the Central Pacific and Southern
Pacific companies were taxable under
the laws of that state. The opinion
declared that railroad companies were
not federal corporations, although hav-
ing received their franchises from the
federal government. In this respect they
stand upon the same ground as the
Union Pacific company corporation of
Kansas, whose franchises were decided
to be the subject to Estate taxation, by
Chief Justice Chase. Justice Field and
Justice Harlan dissented from 4 the
Judgment of the court
Maine Man Seeking an Appointment.
Washington, March 16-Colin Mao
Nichol of Eastport, who arrived in Wash
ington Friday, is believed to be seeking
appointment as special agent for the
Treasury to dlsplace Convers J. Smith,
Republican, stationed in Boston, and
befriended during the Democratic ad-
minisJration by B. B. Smalley. national
Democratic committeeman from Yer
mont. Mr.. MacNichnl is brother of the
late Archibald MaoNiohol, formerly
member of the congressional campaign
committee from Maine. He says he Is
only asking an appointment as assistant
inspector.
To Effect An Honorable Settlement.
Washington, March 15.-Confrmatory
OF the statement made to Parliament to-
day by, Under Secretary Curzon, that the
United States had proposed settleme ent
OF the Venezuelan matter, it is learned
here upon undoubted authority that
Secretary Olney has within the past two
weeks, made such a proposition through
Ambassador Bayard and Great Britain
has consented to discuss it with view of
effecting an honorable settlement,