The record-union., 1896-12-05

sion laws, some of which have already
been made public (notably those in re-
gard to the pensioners resident in Ger

many.
One hundred and forty million dol
lars is thought to be sufficient for the
payment of pensions during the next
fiscal year, unless pensions are in
creased " further legislation.
The s. retai reenl .mends that from
% to . : pei month be granted to all
| survivors of the Mexican war, who are
totally disabled and destitute.
The Indians, he says, now occupy
about 50, 1000, 900 acres of land, and they
should be protected from the sinister
Vaccinations CT unscrupulous men. He
recommends that the Indian Bureau
should be conducted by commission of
| three members, two civilians and an
army officer.
Concerning the bond-aided railroads,
the Secretary summarizes the recon-
| mendations of his predecessors and the
result of the litigation. He calls at
tention to the fact that the tables ne
presents clearly show that the Central
Pacific Railroad is in default to the
Government, or unquestionably will be
on January 1st next, when S2,4o2,Ooo
additional of it's indebtedness, together
with $50, 900 in interest thereon, will fall
due and must be paid.
On January l, 1897, Sc GAO, 900 addi-
tional bonds of the Union Pacific viii
mature, interest on the same, $l1,96O,-
600. will be then due, and if not paid the
Union Pacific will unquestionably be in
default The Central Pacific Railroad
was on June 30, 1896, in default to the
Government to the extent Of S2SS, 143 66
~, nd i,,fo q nd ito s.Sink-
ing fund" account.
He refers to the fact that the Act
chartering the Nicaragua Canal Com
pany requires the company to make
report on the first Monday in December
each year to the Secretary of the Inte-
rior, to be verified on oath by its Presl-
dent and Secretary. A preliminary
statement has been submitted by the
canal company showing that no work
has been done on the canal since Au-
gust, 1893. The company has not found
itself in a position to resume the work
of construction under it's contract
The Secretary wants an extension of
the building apartments for his depart
ments.
He closes his report by saying: 'I
| earnestly recommend that Congress i'm
mediately take steps toward the pur-
chase or securing of block or more
adjacent or near the Interior Depart
| nent building, and erecting thereon a
structure to meet the necessities of the
| country's resources. The area of our
country, the variety of it's products, the
diversity of it's interests, make it's in
ternal commerce of enormous magni-
| tude, and must from time to time neces-
| state enlargement of it's existing Gov
ernment bureaus and the establishment
| of additional ones. Provision for the
accommodation thereof should no longer
| be delayed
Secretary Francis gives the total in
debtedness of the several bond aided
railroad companies to the United States
on June 80, 1896, as follows:
Union Pacific Gncluding Kansas Pa
cifc)--Principal on bonds issued, S33,-
339, ,512, on which interest has accrued
to the amount of S57, OF ,757 46 If on
this there should be credited the sum
of S3S,611 ,0IO 53, applied to the bond
and interest" and sinking fund" ac-
counts and interest on the latter, the
balance of debt on the above date
would be So, 900, 1913 So.
Central Pacific Qncludng Western
Paeifc)-Principal on bonds issued
S2l ,S55,6S0; interest accrued, $46,5 ,593,-
AIS 9S; total credits, consisting of
bond and interest" and Sinking fund"
accounts, together with interest on the
latter SIG, ,167, 149 Sc; balance of debt
Gf these credits be allowed), S59, ,2S2,
900 40.
g. Dx~.
bonds, 81 .62S, 800; interest accrued 50. :
734, 3S7 90; credits on account of trans
portation. S246,659 40; balance of debt,
81, 116,017 60.
Central Branch Union Pacifc-Prin-
cipal of bonds issued, S1,600O00; ac-
crued interest, S2,77S,60S %; credits,
SG42. .SS4 IS; balance of debt, So, 735,-
123 IS.
The report of the Commissioner of
Railroads gives full information con-
corning the physical and financial con-
dition Of the railroad companies. He
reviews the legislation pending before
Congress for the settlement of the debts
of the Pacific roads to the Government
and gives a summary of the provisions
Of the bills reported to Congress and
not yet called up. After reviewing other
subjects the commission gives ii as its
judgment that it's much better for the
Government to accept a lump sum in
cash for its claims against the roads
The Secretary does not agree with
contentious of the Central Pacific that
their road is not in default to the Gov
ernment, and that IL ii were the lands
are not covered by the Government
mortgage and cannot be held to secure
the same. On this point Secretary
Francis does not agree with either
statement, and he declines to patent
lands to the Union or Central Pacific
roads except in cases where 1t can be
shown that the lands for which patents
are asked have been sold to bona fde
purchasers, and here the Secretary
says; "Inasmuch as the subsidy bonds
issued by the Government to aid in the
construction Of these roads are falling
due from time to time, and must be
redeemed by the Government as they
mature, while the roads are unable to
reimburse the Treasury for the amount
so paid, and for the further reason that
bill is now pending in Congress pro-
viding for funding of these indebted
nesses, l deem Ii the part of prudence
iol tIis department 10 retain Whatever
of the property of the roads it may have
In its possession or in its control until
there shall be an adjustment of the
amounts due the Government"
The report of the Government Direct
ors of the Union Pacific gives a COM
parative statement of earnings and ex-
penses for 1896 and 1895. from which
1t appears that the slight increase in
gross earnings is more than offset by
the decrease in operating expenses.