The Indianapolis journal., 1896-02-19

and Mr Huntingdon Senator Morgan inti-
mated that ne. believed the papers We're
burned .or the purpose OF destroying the
proof OF the individual liability OF the
stockholders. but Mr.. Huntington insisted
that they had been destroyed for the pur-
pose OF cleaning out room and because
been organized was closed. He said that
he had suggested TO Mark Hopkins that
the books be DESTROYED; but oid not re-
member that there had been any reference
IN his conversation with Hopkins to the
cia lse in the California Constitution regard
ing the personal liability OF stockholders
been referred to the legal department OF
the road.
senator Morgan asked: 'Did any lawyer
advise you to destroy these papersy
Mr.. Huatington-I think not II was a
mere casual matter. We did not regard II
Mr. Morgan-It becomes serious here.
should like very much to have the books
here now.
for you TO have them. but, in view OF the
fact that they are not In existence | do
not see how I'm the world you're going 10
get at them.
Reference being made to the CALIFORNIA
memorial Mr.. Huntington said IL had ema-
mated from the Sutro meeting. but ne de-
clared that IL was not half as earnest as
was Sutro, when he (Sutro) told him (Huat-
ington) that he would fight him III he did
not build line out to his tSutro9 - place
where he had saloon and gambling resort.
He said that these people who were fight
ing him in California were ABOUT az un-
canny a crowd as q farmer ever 1ouhd IN
his hen roost-" The examination was tnen
turned into an inquiry as TO the payment
OF the Contract and Finance Company IN
the construction or the Central Paclnc ana OF
the organization and operation or the vest
ern Development Company and the Pacific
Improvement Company, composed largely
of Central Pacific men engaged In Duiiding
other roads in California. At one time our
ing the progress OF this branch or the In
Quiry, when Senator Morgan sought 10 con-
fine Mr.. Huntington's replies to denni.e ,ne
lines, Senator Frye interfered TO say that
the witness should be allowed TO answer IN
his own way; II want nj, n,m 10 a, answer; : =,
10 conduct this examination exactly to my
taste until the committee stops me- The
questioning in this connection devei6peq at 6,s,i
three other roads In California connected
with the Central Pacific and had bought
about twelve which had failed Mr.. Hunt
ineton said that the roads built had cost
about $4,000 per mile and the construction
companies had been paid with bonds at tnat
cifc Company.
Replying to an assertion made at mass
meeting in San Francisco that he tHunt-
ington), Stanford. Hopkins and Croker
rad acc,rmuIated a combined fortune of
100000, Mr.. Huntington SAID IL was
lie" as was the statement that they nad
received from the city; county, ,,nt S1ase anS of
the cost of building the roads. AS TO the
charge OF extortionate freight rates, Mr
Huntingdon said the peop.e IN Ne" 90 JersSs sSs
competition of California fruit because OF
the low rates made by his roads. That, he
thought. was sufficient refutation OF the
Senator Morgan asked Mr.. Huntington
how much money he had put into these
roads which he had not made In railroad
ing. This did not bring out a direct an
swer. but Mr. Huntington told In this con-
nection how he had made great Geal OF
money in the Chesapeake & Ohio, the Big
Sandy ard various roads in Virginia, West
Virginia. Kentucky and Tennessee. all of
which he had taken when they had been
abandoned and which he had built up so as
to make large sums OF money. He had put
all these profits into California and the
West into stocks, none of which paid him
any dividends. He thought he must have
been worth a million dollars when he began
his railroading career, but he was poorer
when the Central Pacific work was COM
pleted than when he began because s' o, 1ne
lated Mr.. Huntington stated that the
Southern Pacific company had agreed TO
pay 81 per year Tor tne lease OF tne ae
some years on this line had not been equal
TO the rental. and the contract was
chsnged so as to provide tnat the amount
Senator Morgan tried to show in this
connection that the railroad business which
would naturally have gone over the central
<nis contract to the Southern Pacific SO as
10 diminish the Central Pacific earnings.
Mr.. Huntington said competition was
very close. He stated, however. that the
business of the two roads was managed by
one man. Mr. Stubbs, who was the freight
agent for both roads, but while this was
true shippers were allowed TO select the
road over which they should ship.
Senator Morgan then asked IL II was not
his ambition TO throw all the business ne
could over the Southern Pacific. Mr..
Huntington replied he had tried especially
to build up q business between California
and Europe, and he had directed his enorts
10 that end. The Senator also tried to de-
velop the fact that Mr.. Huntington, being
more largely interested in the Southern
Pacific than In the Central Pacific, would
naturally have required the joint officials
OF the two roads 10 exercise their offices in
behalf OF the Southern Pacific line. but Mr..
Huntington parried the thrusts and did not
acmit this to be true.
Have you ever really expected the Cen
trail Pacific could be prosperous when its
builder and guardian was 50 largely inter
ested in and the chief executive officer OF
its principal rival?" asked Mr.. Morgan:
II believe" replied Mr.. Huntington., tnat
the Central Pacific has Jared as well In my
hands as IL would have Jared In the hands
OF any other man. i have never directed
any Of the active officers OF the road TO
divert any business from the Central Pa
ci.ic to the Southern Pacific"
he hearing will resumed again next