Gould-Huntington

Chicago. Mar. 10. 1887 Abritrators [Arbitrators] Riddle. Midgley - Vining

"John C. Brown." [underlined]

Ask for ab. in Jan 4. Formal notice in Feby [February] —

files notices given "Feb 8. 1887" [underlined] "No date" [underlined] — served Feb. 10. 1887

Reads letters "Feb 24. 1887" [underlined] from J. C. Brown to ab —

"J. C. Stubbs". [underlined] [illegible] to notice of Feb 8. 1887 served on Stanford shows that it was complied with as speedily as possible.

Reads his letter to the abitrators [arbitrators] dated Feb. 26. 1887.

"John C. Brown"[underlined]

Reads the admission of facts.

Reads the Agreement of Nov. 26. 1881.

To the Chairman El Paso to the Juncture 90 miles.

"The option in Sec 10 was taken."[underlined]

Reads Modified Agreement of Feb 26. 1885.

[top right corner:] 2

Sub. A. "Inl' Decree" of 2 - Dist [Distance] of Ariz. [ Arizona ] T. P. of [illegible] Plaintiff

B. Final Decree of 2 - Dist [Distance] of Ariz. [Arizona]

C. Inl. Decree in Dist [Distance] of [illegible] of N.M. [ New Mexico ]

D. Final Decree " " "

E. Deed T&P [Texas & Pacific]. to S. P [Southern Pacific] of NM [New Mexico] of way and rt of way

F. Indenture T&P [Texas & Pacific] to S P. [Southern Pacific] of N.M [New Mexico] of Arizona Los An [ Los Angeles ] to S. Diego [ San Diego ] of franchises of T&P [Texas & Pacific] under act of March 3rd 1871.

G. Con from T&P [Texas & Pacific] to G. H & S A. [Galveston, Harrisburg, & San Antonio Railway] of rt of way

"Sec 6" is no pooling contract — it is more — reads 1st par. in Stubbs letter of Feb 26, 1889

The T&P [Texas & Pacific] party with 18. 000 000 A of lines & the right of Co to build a railway across the contract

Sheldon. The abitrators [arbitrators] are to fund the amt due

Stubbs. "What"[crossed out] The abitrators [arbitrators] are to determine "gross earnings"

[top right corner:] 3

Taken at construction given to gross earnings ---

Loss E. used by RR [railroad] as contra [illegible] to NA Earnings

What cons passed to the T&P [Texas & Pacific] for this manificent property

[left margin:] Note To use the 70 ads as one line and to obtain a pooling contract.

B. It has none of the features of a pooling contract. Division of gross earnings.

The object of "the Trans" [underlined] C. Assn [Trans-Continental Association] — [illegible] are of doing the business — same Salaries -— What cons' passed to the T&P [Texas & Pacific] for the [mvd?]" NY bus"

cost of doing the business. 68%

[left margin:] Note that was all the risk H-line's took

Recess. [underlined] [right-justified]

Mr Stubbs [double underlined] Letter of T&P [Texas & Pacific] of Feb 24 to Board .-— Matter of accounting = How other roads Treat pooling balances Income account Equitable Const. of gross earnings claimed by Brown True? after opn [operation?] lines. they arose a cliff as to Sec 6. Freight org. at N. O [ New Orleans ] for El Paso & vice versa.

T&P [Texas & Pacific] agreed when the earnings of the G. H & S A [Galveston, Harrisburg, & San Antonio Railway] should be Copy "El Paso & N.M. Pool"[crossed out] N.M & Ariz. Agt. [ New Mexico and Arizona Agent ]

[top right corner:] 4

[left margin:] Pool Sec 7 Agreement that Sub F to Pac M shall be bound by the various parties to the agremt [agreement]

Agreement with John Rosenfeld & others

[left margin:] To the Chairman. Trans. Trans pool includes all freight passing 97 [degrees] meridian?

Letter of Ms Bird

Gov Sheldon [underlined] The scope of the argument Am not a Traffic Auditor — Question one of construction — Stubbs talks about equities Legal fee pending in NM & Ariz [ New Mexico and Arizona ]: SP. [Southern Pacific] const [construction] on right of way of T&P [Texas & Pacific]. -— a very grave question Who did the T&P [Texas & Pacific] part with — lands & franchises What did the T&P [Texas & Pacific] get —

Equity relieves from mistakes _ How long before they will bury us in debt [left margin:] Note How long before T&P [Texas & Pacific] will take the whole 40% Dont care whether the Trans Cont. [Trans-Continental] was made before or after the mod. [modification] of Feb 18.

"Construction of agreement or statutes" [underlined] by common sense Reads Sec 6. in original.

[top right corner:] 5

Read [double underlined] the preamble stating the purpose of the formation of the Trans-Continental pool.

Then reply to the positions assumed by Brown in his letter.

Sustain the position of Stubbs as the true positions.

Who are the parties to the Gould-Huntington contract "names them" [underlined].

The same persons who are interested in the pool from New Orleans to El Paso are the same as control the Missouri Pacific and its connection, and who although sharing in the traffic brought by C. P. Huntington from New York on the Morgan steamers and delivered to the pool at New Orleans seeking to divert a portion of such traffic by taking freight at New York or San Francisco on the trunk lines to be delivered to the Missouri Pacific at St Louis and then delivered to the S.P [Southern Pacific] at El Paso and in this case keep such traffic from the Gould-Huntington pool.