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Status: Needs Review

potential to have formed any definite judgement. But I am convinced that the interests of the stockholders of the Central Pacific requires fuller consideration than they have so far received: the all important matter to them is not what the Government will be content with, but what will be their interest in the property, after the proposed settlement is effected: on this point your report for the year gives no information, nor have I personally ever obtained any satisfactory assurances from the Southern Pacific board. At present the Company is tacitly pledged to accept the [Frye?] bill as some modification of it, which in my opinion will in a few years again plunge the Company

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