The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1897-02-04
SOUTHERE REPUBLICANS.
Gibson OF Tennessee Says They Are
Not Fairly Treated.
AN EXCITING INCIDENT IN OTHER
WISE DULL DEBATE.

---~ObAOh
The Pacific Railroad Problem Under
Discussion in the Senate--Mr. Villas
Opposes Nicaragua Canal Bill.
Warrington, February 3.-7he Senat
took up the resolutions looking to the de-
lay or prevention Of the judicial sale Of
the property Of the Union Pacific railroad
company. Mr.. Thurstnn said the entire
first mortgage Iisn on the 1899 miles Of
the Union Pacific railroad was over S36, =
000.000, and that sum the United States
would have to pay before 1T cpuld sake
the property. The United States was
promised that there should De bid on the
property if sold under foreclosure, sum
that would pay to the government a
little over $45, 900, 600. That included
the sinking fund of the company. SO the
net amount to be paid into the treasury
would be about ss9, 600, coo Tie amount
of the original Indebtedness was about
S2S, 600, coo. The interest paid by the
government on those guarantee bonds,
made the whole Indebtedness to the
government about S55, 700, GOO.
Mr.. Smith, Democrat of New Jersey.
manfred whether ths amount stated as
interest included interest on the amounts
paid from year to year. Mr.. Thurston
replied that it did not and no department
of the government had ever held that it
should. Mr.. Smith insisted that the
Government was entitled TO il, and that,
if allowed, would make the indehtedn ess
$50, OOO, 600. Mr. Thurston said the offer
made to the government would amount
to aome SO or 81 per cent Of its entire
claim and the question WAS whether 1t
would not be better to accept that offer
than nay SS6, 600, 600 for 1889 miles of rail-
road, in order to go into the railroad
business. MIR. Tburston stated the legal
status of the several foreclosure suits.
He said that he had serious doubts
whether Congress could now create new
federal corporation to operats the Union
Pacific railroad. When the original in
corporation was made the road was to
run through the territories of the United
States. Now all those territories were
sovereign states and in some of them at
least. there were constitutional prohibit
tions against ownership of land or opera
tion of railroads by any other than do
mestic corporations.
Mr.. Stewart, Populist of Nevada. asked
how that would affect the government
ownership of the road. MIR. Thurston
replied tina. hs did not believe the people
Of the United STATES would be ready in
his lifetime to enter upon the govern
ment ownership and operation of rail
ways.
stMr. Thurston was still speaking
when the morning hour expired and un-
finished business, the Nicaraguan Canal
bill was laid before the Senate Mr..
Lodge, Republican of Massachusetts,
said he would ask for action tomorrow
en- the conference report on the immigra-
tion bill.
Under the rule the Allen resolutions
would have gone to the calendar. but Mr.
A Hen asked that they rem ain on the
table. IL was we'll understood, he said,
that no other business but appropriation
bills would be transacted this session.
The consideration of the Nicaraguan
Canal bill WAS proceeded with Mr.. Nor