Omaha daily bee., 1896-03-12

Totals ..................Sl2 Sl26 300 900 SiS44O 900
He further stated that the government
land grant to the Central Pacific amounted
to about 100000 acres, but most of it was
in western Utah and Nevada, and was of
but little value. The company had realized
less than $S,OO0,000 on the land grant and
this, he said, as well as the proceeds of
the securities, was used in building the road.
1.-The building of the Central Pacific rail-
road," he added in explanation, twas the
dearest piece of railroad work ever done
in America" An impression has long pre-
vailed that both the Central and the Union
Pacific were pretty dear pieces of railroad
work and that they cost a great deal more
than like work of that period which was
done without government aid.
Perhaps no one 10 authorized to express
doubt as to the correctness of Mr.. Hunting
tons statement in regard to the proceeds of
securities But one cannot help suspecting
that the bonds brought more on the average
than go cents on the dollar in gold. Gold
was quoted In those days in the neighbor-
hood of 1870, which would make greenbacks
worth about II cents on the dollar The
bonds alone sold at par for greenbacks may
have produced over $51, 600 900. And Mr..
Huntington taxes credulity somewhat when
he asks us to believe that the stock brought
only the equivalent of Sc per share in gold.
1t will remembered that Mr.. Huntington
told the committee some time ago that the
records of certain construction company
which, as he admitted handled all the pro-
ceeds Of securities had been destroyed. The
company had accomplished its mission and
| Mr.. Huntington could see no reason why
its records should be preserved. Besides,
| the room they occupied was wanted for some
| other purpose. Perhaps If those recorSl had
| been preserved Mr. Huntington might have
refreshed his memory regarding the prices
| realized for bonds and stocks. He might
| have been better able to account for the
wealth Of some people connected with the
construction company.
In yiew however, of a recent decision OF
the supreme court curiosity regarding the
secrets of that company may not be legit-
mate. 1t Is presumable that Mr.. Hunting
| ton has felt much more comfortable since
| that decision was handed down. Perhaps
he is entitled to sympathy when he grieves
because government has destroyed the earn
| ing power of the Central line by aiding
| other lines and because "nearly thirty years
after the work has been completed the rep
resentatves of this great nation of some 70,
100000 should be asking the builders Of these
| roads to answer the charges made by prob
ably as worthless a set of men as ever un-
| dertook to block the wheels of commerce or
dog the heels of an army Of war or a great
industrial army like that which works within
the ranks OF the Central Pacific Railroad
company" This docs seem hard" or
rather, it would seem hard If the repre-
sentatives of the people were in fact dog
ging the heels of an industrial army oil
doing anything in this connection excep
| trying to find out why a road which has
| enriched a considerable number of people
Is unable to pay what 1t owes the govern
ment some time before the middle of thu
| twentieth century. This would seem to b'
| legitimate subject OF congressional inquiry