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Failed To Get Money

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Parent Issue
Day
5
Month
March
Year
1897
Copyright
Public Domain
OCR Text

San Francisco, March 3. - Campbell P. Berry, assistant treasurer of the United States stationed in this city, started out on a qutst a day or two ago for $9,605,210.06, but so far he has failed to make tho collection. Under instructions frcm the secretaryof the treasury, bearing date of Feb. 17, Assistant Treasurer Berfy was instructed to demand of Isaac L. Requa, president of the Central Pacific Railway company, and of the treasurer of that company, the sum mentioned in order that the government's case might not be prejudiced in the futuro by failure 'to formally demand the exact sum claimed to be due from the railway company. The government did not expect the demand to be met, and was not disappointed. Vvithm a few days the raihvay comI.any, through its resident attorneys, will raake a detailed reply to the government, setting forth the offsets and counter claims. Has Many Judgments. It will be maintained on behalf of the road that it has many judgments whioh affect every department of the government, ar.d that the aggregate of these claims more than counterbalance the flemand of the United States. The demand is the result of the sale during last month cf a block of twenty mortgage bonds of the railway company held by the government as security for subsidy bonds. An act of congress, passed in 1S78, prescribes procedure where the bonds were sold, and by its terms implies that a specific demand Is requisite to the g-overnment's role of "angel" to the railway Corporation. AVhen sold, the railway bonds did not yield the amount of the bonds issued by the government. The deficit is the amount for which the demand in question was made. The sum claimed by the government includes intérest money, and it is said that the railway company will base lts resistance to the demand upon the acts of congress regulating the relations of the government and the railway, and providing that no interest shall be deemed to be due until the entire indebtedness is determined and adjusted. President Requa Is Interviewed. President Isaac L. Requa of the Central Pacific was seen at nis Piedmont home. His own knowledge of the situation was meager, he said, inasmuch as only a formal request for the mous sum mvolved in the matter had been received by him and filed for consideration when the officials of the road should assemble. "I was notiflcd on Saturday last," he said, "by the assistant sub-treasurer in San Francisco, that my road would be expected to pay over nearly $10,000,000. When I received the notification I simply placed it in shape to be considered when we next gather as officers of the road to handle our regular business, and I passed the Information, of course, to those best entitled to know it. I am compelled to deny you any detailed explanations of what we may do in the matter, but only for the reason that I, myself, am not aware of the course we shall pursue. There is no telling what will be done, but it is safe to presume that the road will accept the eituation as it now stands, and by no means antagonize the government. I have absolutely no views to express in the matter, and know that no one else connected ■ith the road could teil any more."

Article

Subjects
Old News
Ann Arbor Democrat