The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-02-16

/ to the attorney general. Referring to a
petition from London banking firm,
read as q part of MIR. Harris's remarks,
which contained evidence that there was
trouble between reorganization commit
tee and those whom they represented. be
said that when rogues fell out, honest
men were likely to get their dues.
THAT is a contamination devoutediy
to be.wished," exclaimed Mr.. Harris.
''When those thieves fall out perhaps
the United States will get its dues =
|, Mr.. Gear, continuing, regarded as the
greatest plume in the cap of the presens
administration the fact that IL reGeIveu
100 cents on every dollar OF the Union
Pacific Indebtedness. 10
"Then why is it willing to accept 40
cents on the dollar of the Kansas Paclnc
| indebtedness?' inquired Mr.. Morgan.
81 don't know that it is, /" replied MT.
Gear.
s'But if it is, it is perhaps because the
road is worth only 48 cents on the dollar:
| Mr.. Foraker of Ohio, discussed the slt-
uation as it had been viewed by the Ere
| sident The President asked Congress to
give him authority to enter the sale OF
The Kansas Pacific as bidder, but Con.
gress had taken no action. The final
/ Offer made by the reorganization COM
1 mittee, the President had evidently re-
4 garded as reasonably satisfactory. Sena-
tors might differ with the President as
| to the value of the property, but he had
consulted many well informed persons
and felt that in receiving the full amount
of the Kansas Pacific debt, less than
the interest, he was doing very we'll.
Mr., Gear moved that the resolution be
referred to the committee on Pacific rail
roads. Pending the vote on this motion,
Mr.. Turpie declared that an effort was
being made by the reorganization com
mittee 20 recoup out Of the Kansas Pa
cific sale what it was compelled to pay fol
| the Union Pacific main line In addition
| to what it had expected to pay. He main
tanned that the Kansas Pacific branch
was necessary to the owners of the malr
limo and that they were compelled te
purchase The branch road.
In view of this fact they ought to bt
| forced to pay the six millions of interest
due.
Mr.. Turpie then Offering the following
resolution and asked that it lie over I'M
4 til tomorrow:
'sResolyed, as the opinion of the Senate
! that the sale of the Kansas Pacific di
/ vision of the Union Pacific railroad made
4 today ought not to be confirmed excer
1pon the terms that the original claim
United States from said railroad com
many of the Kansas Pacific division b.
maid in full by the bidders"
Mr.. Gears motion to refer the resolu
ton to the Pacific Railroad company wa
| submitted to the Senate and the motion
was defeated 10 to a. Two verbal amend
ments by Mr. Chandler were agreed to
and the resolution WAS adopted withou
ldivision. On motion of Mr.. Chandle
the preamble was then stricken from tn
resolution. The resolution as adOpte,
read as follows:
Resolved, That the Attorney General
directed to inform the Senate II he ha
aut aorized the abandonment OF his OK
pressed intention to redeem the firs
mortgage bonds issued by the Uniol
Pacific railroad company, eastern d1yis
ion now the Kansas Pacific division o
the Union Pacific railway, and ask
rostponement of the sale thereof and 70
| the appointment of receiver therefor
in the interests of the government OF th
United States, and also il he has autho
rjzed an agreement by which said proper
ty is to be sold for the face value OF tn
subsidy bonds resulting in loss to tn
government of the amount OF six mil
Lions. six hundred and twenty -four thou
sand. one hundred and seventy dollars
and if the government mas agreed not
be- a bidder at the said sale.
| A bill making Rockland, Me-, sub
port for entry was passed.
At $50 D. m, on motion of Mr.. Davl
the Senate went into executive session.
/ After the executive session the repor
4 of the Attorneys General on the Harri
resolution was read. Several bills of mi
nor importance were then passed. Th
Senate at s. IS p. M, adjourned.