The morning times., 1896-02-15


ern Pacific, and the Texas Pacific, and
many other roads participating with them
in this transcontiDental business. In short,
the question before you, gentlemen, is
whether this road over the desert between
the eastern base of the Sierra Nevadas
and the western base of the Wahsatch
shall be used as a bridge for all the roads
reaching Ogden from the east, or used
for only one.
FARES AND FREIGHTs.
''As for the rates of fares and freights
on the Central Pacific, | am quite sure
they are lower than those of any other
road in the word operated under the
same circumstances. The Central and
Southern Pacific west OF Ogden have no
great tonnage. While the fruit products
are fairly large, the miscellaneous freight
is not large, as, say, west of the Tooth
meridian lies more than one-half of the
acreage of the United States, with not over
100000 OF people, while east Of that line
oD the same or less acreage, there are
probably $4,000, 600 of people today The
Chesapeake and Ohio Railroad. some few
years ago, transported, in twelve months,
5000. 600 pounds of freight more than
vas handled over the, say, 5000 miles
OF the Central and Southern Pacific west
of Ogden ard New Orleans. Notwthstand-
.ng this light tonnage, the average rates per
passenger per mile for 1894 were 946
cents, or less than . cents The average
rates per ton per mile for 1894 were
LII cents, or less than / 2 mills. For
the ten months ended October 81 1898.
the latest date to which we have this in
formation, the average rates were .054
cents, or 10 - mills. which. considering
the vast mileage and the high cost of fuel
and labor-in fact. almost everything that
enters into the operation OF these roads is
much higher than in any other part of the
United StateS-iS phPnOmenally low ard
the roads cou.d not live unless those con-
trolling them We're exceedingly watchful
and practiced a rigid and intelligent econ
Ofny, keeping their rolling StCck-aiad per-
manent way In the very best condition,
for these are the tools by which the rail-
road makes its money.
But / have Detained the committee too
long, and VIII hurry my remarks TO close.
These debts are soon coming due and [
hope you win Cffer us something. the re-
quirements Of which the company can
meet. | have been in business for myself
sixty years, lacking : lly Il few months
and have always pad 100 cents on the
dollar. While this is not q personal debt
OF mine, yet ! take as much interest in
the matter as / would if / were the sole
owner aud responsible for the govern
ment claim for the Central Pacific is
the first railroad that l ever built ard
no farer or hCnester work has ever been
done. l have nothing to take back ana
nothing TO apologize for in that under
taking, and ] do not come here asking
equities or eulogies. / only ask on behalf
OF the Central Pacific Railroad Company
that you treat the question OF a settlement
with the government on business principles.
If these are observed I have no fear of
the result. | would recommend the company
10 pay as much interest currently as he
road cOu d earn ever its fixed and Oper-
atinS expenses. other than the government
claim, as all other than the government
claim is perfectly good. there being little
or no floating debt, and pay into the
Treasury OF the United States every six
months Il fixed sum until the whole in
debtedDess, both principal and the interest
that has accrued in the past, is pad. As
these payments are made, the principal
amount due the government will be stead
ily diminished. while the property will
continue naturally to increase i'll value,
for every house that is built upon or near
he.line Will bring d new patron, and every
acre pIowed win briDG additional tonnage,
SO that the security viii be unqueStionably
good.
1--WE had hoped that the government
would take - per cent interest on the
great debt owing to it by the Central
Pacific and require n certain fixed sum
paid on the first day OF January and the
first day of July OF each year until the
whole amount comprising the original
principal of the debt ard all the BACK in
-terest had been finally and fully liquidated.
In doing this. l should be satisfied th..U
We had done well by the governments
considering the fact that the road had
received so little from the government
business sent over ii compared with what
il was expected, when the acts OF go
and "a were pasSed, that the company
would get. Up to the Time OF The paSSa re
of those acts, the government had been
paying vast sums for policing the immense
area of country between the Missouri and
Sacramento Rivers. When the Pacific
Railroads were completed and in operation,
the government might well say We have
buildtd better than we knew, even If we
get no interest upon the money loaned
towards the construction of this great
work: fer il was done seven years before
the time allowed to the cCmp3 Dies for the
completion Of the undertaking. AID in
those seven years the government saved
more than all the money leaned 10 these
ORGANIZATIONS So Well was it for the
government, shat IL gave freely to the
Northern Pacific and TO the Atlantic ard
Pacific land which was of greater value
than the bonds and lands granted TO the
pioneer roads. The government must have
realized that in doing this it was delib-
the security it had on the Central line,
because il was taking away from it much
OF its earning power. from (which alone
the government could expect a return CT
the money loaned, ard such was. in fact,
the logical result. Yet, who doubts t dry
that the wisdom OF the statesmen CT that
time was amply justified when the mag
nificent development OF the great West,
due to the onward march Of the worlds
piViliZpT-tbR FlilrDaI-.S cOuSid-
cred? For, from the moment OF their
completion, these reads. Ike the Central
and the Union Pacific, have thoroughly
policcd the wide eXpanse of territory which
they traverse, without cost to tie govern
ment, aud have made it possible to settle
up the arabic lands along their lines
But We shall have to leave to you gentle
men of the committee the methcd OF this
proposed settlement, and l have faith TO
believe that in the proposition You lay
before Congress you VIII not put upoS
the Central Pacific Il burden greater than
it can bear. Speaking on behalf of that
road, | assure you that we viii . all we
can, and no corporation or Individual can
do more than that. Further than that,
it is my belief that no other men, or set
of men, can do as much for the Central
Pacific in clearing off this ObbligatiCn az
its builders can. The record OF the read
is clean and clear, despite the cries OF
the noisy few, who. like jackalS, howl
along its track, and the great mass of
the people of California know and appre-
ciate the greatness and the value of the
work that we have done. l personally
am proud of the record we have made,
for we have never failed to fulfill all
our contracts with the government, with
States, and with Individuals
UNCLE TOMS CABIN