Central Pacific Railroad Company: documents

KNOW ALL MEN BY THESE PRESENTS:

That I A.P. Stanford brother of Leland Stanford hereinafter mentioned for and in consideration for the sum of Ten Dollars ($10.00) gold coin of the United States of America to me in hand paid by Leland Stanford of the City County of San Francisco California have released and forever discharged and by these presents do for myself my heirs executors and administrators release and forever discharge the said eland Stanford his heirs executors and administrators of all from all and all manner of actions and cause of actions suits debts dues sums of money accounts reckonings bonds bill specialties covenants controversies agreements promise variances trespasses damages judgments extents executions claims and demands whatsoever in law or in equity which aginst the said Leland Stanford I ever had or now have or which I or my heirs executors or administrators hereafter can shall or may have for upon or by reason of any matter cause or thing whatsoever for the beginning of the world to the date of these presents.

In witness whereof, I have hereunto set my hand and seal this Then (10th) day of September A.D. one thousand eight hundred and seventy eight.

SIGNED SEALED AND DELIVERED IN THE PRESENCE OF

A.P. STANFORD (SEAL)

KNOW ALL MEN BY THESE PRESENTS that I Maurice Dore of the City and County of San Francisco State California United States of America do hereby assign set over and transfer to John Howard Smith of the County of Alameda state of California All my right title and interest in and to a certain conveyance made by Asa Philip Stanford of his one sixth interest in the Central PAcific Railway of California and bearing date the fifth day of September 1873 Giving and Conveying all the rights ofevery nature and description which I have o may have be cirture of said assignment or the power of attorney executed and delivered to me by George Earl Church in the city of New York on the 22nd day of Semptember 1876. Fully authorizing the said John Howard Smith to sue collect comprise or do anything in the premise as fully as I could myself in his name o otherwise as he deems beat but at his own cost and charges. Giving his the said Smith full authority to sign seal and execute all papers necessary to carry ou the foregoing.

IN WITNESS WHEREOF I have hereunto set my hand and seal this 17th day of December A.D. 1878.

sgd Maurice Dore (SEAL)

WITNESS

Line 26 page 1 the word "Smith" interlined before execution.

HOLLAND SMITH.

To the Honorable Rufus Blodgett

United States Senator From New Jersey.

Sir:

In accordance with the interview held with you I herewith present my views as to the present status between the United States and the Ventral Pacific Railroad Company with suggestions as to a fair basis of settlement for satisfying the Governments claims on the Company upon the maturity of the bonds loaned them and also one that will not embarrass the Railroad in discharging the same.

I address you in your dual capacity of a Senator of the United States sworn to protect its interests and as a Railroad Official of long years and high standing thoroughly conversant with the details of connecting a successful railway enterprise.

That the present arrangement contractor whatever it may be termed is an unsatisfactory one to both parties no one can deny. The United States through its officials and by the Act appointing an investigation Commission last Spring showed that they fear that when the principal and interest of the bonded debt becomes due the property of the Railroad Company on which it is secured will be insufficient to meet the Governmental demands.

The Railroad Company say that by reason of the restrictions thrown around them the frequent examination and reexamination of their books and vouchers the many different accounts and subdivisions of accounts they are compelled to make under the requirements of the present laws and the

instructions of the Governmental Officials they are hampered in their business have to incur a large unnecessary expense in the employment of additional force and owing to the uncertainty of the Government's demands their securities do not concerned as high a value on the market as they should do were some permanent and positive basis of settlement agreed upon; this last is an important factor to them as they are now largely engaged in extending their connections building branches feeders do and the value of their securities upon the market is of great financial importance to them.

The amount of the principal of the bonds issued to the Central Pacific Railroad Company by the United States is. . . . . . . . . . . . . . . . . . . . . . . . . . . . $25885120.00

That to the Western Pacific Railroad Company. . . . . . . . . . . . . . . . . . . . . . $1970560.00

Making a total of. . . . . . . . . . . . . . . . $27855680.00

The interest that will have accrued at the date of the maturity of the bonds will be as follows: Central Pacific Railroad Company. . . . . . . . . . . . . . . . . . . . . . $45783396.10

Western Pacific Railroad Company. $3402554.56

Making a total interest of. . . . . . . . . $49187950.66

Which added to the principal will give a total indebtedness to the United States of the two Companies amalgamated of... $77043630.66

The different dates of maturity of these bonds, together with a detailed statement of how the figures above given are arrived will be found in Schedule No.1 accompanying this letter.

instructions of the Governmental Officials, they are hampered in the business have to incur a large unnecessary expense in the employment of additional force and owing to the uncertainty of the Governments demands their securities do not commend as high a value on the market as they should do were some permanent and positive basis of settlement agreed upon; this last is important factor to them as they are now largely engaged in extending their connections building branches feeders [as?] and the value of their securities upon the market is of great financial importance to them.

The amount of the Principal of the bonds issued to the Central Pacific Railroad Company by the Unites States is. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$25885120.00

That to the Western Pacific Railroad Company. . . . . . . . . . . . . . . . . . . . . . . . . $1970560.00

Making a total of. . . . . . . . . . . . . . . . . . . $27855680.00

The interest that will have accused at the date o the maturity of the bonds will be as follows: Central Pacific Railroad Company. . . . . . . . . . . . . . . . . . . . . . . . . . $45784396.10

Western Pacific Railroad Company. . . . . $3402554.56

Making a total interest of . . . . . . . . . . . . .$ 49187950.66

Wich added to the principal will give a total indebtedness to the United States of the two Companies amalgamated of. . . . . $77043630.66

The different dates of maturity of these bonds together with a detailed statement of how the figures above given are arrived at will be found in Schedule No. 1 accompanying this letter.