The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1896-12-30
Pacific Railroads IangIee.
Commissioner Wade Hamp-
Ton has a Plan Of S7t-
element.


Office to day /:
1t states that operations of all rail-
roads 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, show an Improvement, due
to reduction in operating expenses
A complete review of the condition
cf the last named roads is given, and
their relations to the United States
The controversy between the treas
ury department and toe Central Pa
cifc, over the amounts credited to
the company for transportation and
of the per cent. of net earnings, is
given briefly, also the action of Con
gress at the last session in attempt
ing to effect settlement with the
companies
The general portion of the report
closes with the commissioner recon-
mendations
The controversy between the treas
ur7 ard the Central Pacific was re
ferred to the Attorney General, who
gave an opinion, bu; the matter is
not yet fully adjusted.
The total Indebtedness Of the sew
eral bond aided companies to the
United States on June 80, 1896, was
as follows:
Union Pacific, including Kansas
Pacific. principal Of bonds issued $685.
$50, 9,5i2, on which interest has ac-
crued to the amount of S57,07l,757.
A6. On this there should be
credited $3S,61l,o73 SO applied to
the bond and interest and sinking
fund accounts, leaving the balance of
debt on the above date S52, 000,198.-
90.
Central Pacific, including Western
Pacific, principal of bonds issued
S27 855 $50 Interest accrued S46,-
593, ,47S.93; ; credits SIG, ,167, ,149.5 Sc f;
balance of debt $5S. .282, ,009 AZ
Sioux City and Pacific, principal of
bonds Sl,62S 800 interest accrued
S2,734, ,3S7 % +; credits on account of
transportation S24e.659 40 ; balance
OF debt S4,116,o47.60
Central Branch, Union Pacific,
principal of bonds issued 81 800, 900 !;
accrued interest S2,778,60S 26; cred
it's S642,8S4 SS; balance of debt
SO. 1856, 1928. SO.
This makes total for ali the roads
of s11s.l33,970 So.
Against this debt there is held in
| the sinking fund under the Thurman
Act, mostly in bonds Of the com
panies which have prior lien upon
| the road, total Of sl9.624 $50
There are due and unpaid So 432,-
coo in the Union Pacific and $685.
600 in the Genital Pacific fned.
After telling fully Of the recen, eff
forts to secure the Government money
now held by the companies, Gen
Hampton says the bills will probably
be reached early this session. AS
the debt to the Government is rapid.
ly increasing, settlement should be
reached soon He continues
Il adhere to the opinion expressed
by me in my first report, and renewed
in subsequent ones, that the best and
most practical way to reach settle
ment with the companies is through
commission, to be appointed by the
President The vain efforts Of Con-
gress for years to arrive at an adjust
ment would seem to justify the be-
lief that it is useless for 80 large q
body to continue to attempt to settle
the matter.
"Members are always pressed in
the discharge of the duties of their
respective committees, and but a
very small proportion of them have
ever found time to devote to con-
sideration of the problem involved
| Id tue OCCCl LII lilidtIpI VI tuO cNos
methods for the Government to pur.
sue. The question is of vast magni-
tude and great Importance. and III
wolves so many interests and technl,
cal details that it is almost impossible
to place its every aspect before Con-
gress in such a manner that intel
ligent action could be taken thereon.
The commission to be appointed
should be vested with full and abb
solute power to settle the question By
any method which seems to them
best. their action to be subject to the
approval Of the President. They
should b. empowered to compel the
attendance and take the testimony OF
witnesses, to administer oaths aud to
call fer all papers and documents
needed in the course of their nego-
tations"
Don't te persuaded into buying linimen's