Rocky Ford enterprise., 1896-10-08
HUNTlNGToN,s SCHEME.
Wants the Government to Walt 1oo
Years Longer.

Wants the Government to Walt 100
Years Longer
The case Of the Central Pacific rail-
road is one that justifies the govern
ment control Of railroads. The rela-
ton of the Central Pacific and the
government is thus stated by the
Twentieth Century:
'The Central Pacific railroad COM
yany Is bankrupt. It's immense iu-
dcbtedness includes round $SO,000,-
900 to the United States government.
This sum represents principal and in
terest of 6 per cent bonds, payable in
thirty years from date. issued by the
government to the builders of the Gen.
trail Pacific road at different times be-
tween 1865 and 1872. Tho original
sum total of them all aggregated about
s2S, 100000. The first OF these bonds
became payable in January, 1895, and
the interest during all those years. not
compounded, came to $50 per cent OF
the face value of the bonds. The re-
naming bonds fall due at intervals un-
til 1902. Now. the sole survivor Of tho
four men who built the road Is c. p.
Huntington. and he is responsible for
the bills that turn up SO persisteatly
in congress.
Mr.. Huntington wishes congress to
decree that the railroad be granted
100 years longer in which 20 pay this
debt. Interest he says should be per
cent, and the United States govern
ment should become responsible for
both principal and interest of these
new 100 year bonds. The bonds now
existing are to be cancelled when tho
new bonds make their appearance. and
the railroad itself shall be freed from
Its present Indebtedness altogether.
The railroad proposes to pay principal
and interest of the new bonds In in
stallments. the last one falling due in
1897. rH.- .ts
That Is very interesting scheme.
II it succeeds Mr.. Huntington will be
the most famous money maker that
ever lived. For these reasons:
The Central Pacific railroad exists
under California laws. It Is not in
corporated under the national govern
ment. Its charter expires III 1911.
Its affairs must be wound up then.
Should 1t pay It's debts It may REIN
corporate. II not, 1t goes into re-
ceivers hands. Under th, laws of
California the four estates Of Mcss-s.
Huntington, Stanford. Croclser and
Hopkins the men who pushed the
road through are liable for the IN
debtedness. But when the govern
ment sued the Stanford estate, Mr..
Clcveland's attorney general failed to
carry the case to the courts on its
merits, and lost before the supreme
court of the United States. No jns-
tice changed his mind on this acca-
sion. The corporation disappears in
1911. Suppose the government took
possession OF the road. 1t would get
two s.reals of rust and a right of
way" Huntington's scheme, defeated
in the last democratic congress. and
revived in the last republican one,
grants him immunity from all lil5ll
| ity. Uncle Sam hands over his secur-
ity to Huntington, who giyoE MIN back
a valise Uncle sans security repre-
sents S65.OOO,oo1, plus SJ5o0u,fg0 prln-
cipal and Interest respectively on the
entire Pacific doht, plus $2'0Oo.6Oo Of
sinking furd, plus millions mpre for
| costs and interest. Huntington's tallse
rourerents corporation that dlsap-
. pears in 1911, and two streaks of rust
and right of way. s,.'
Huntington pursues this game Of
his by means of bills introduced irto
congress from time to time, The en-
tire business of the house of represen-
tatives has been blocked by these
measures" .r.E
The single gold standard brings
nothing but disaster to the people of
This country, IL we except few all
powerful bankers. There are in this
country more than half n million men
cut of employment in the cities alone.
Post, Denver, Colo. tl
Jefferson once said: Tell me what
| England wants and that is what we
do not want" We might add: "Tall
us that Wall street wants it and we
do not want it." Wall street wants
the gold basis. VIII you vote for it?--
Industrial News. tnf
The republicans have entered vc-
bemeut protest against the assertion
thnt the next president will be tho
hired man of the people," They pre-
tend to think he will be the hired
man OF Mark "Reminiscences City
Time.
,.,.,,,,, b,, +Y.-fne nc many olecto-