The Pacific Roads

Washington, Dec. 31.- There are two reporta of tho Pacific Kaüway Commission now in the hands oE the President, one signed by Commissioners Anderson and Littler and the other by Commissioner Pattison. The majority report is 130 pages long-, and is largely a history of the Union Paciflc railroad and the perversión of their trusts by Gould, Sage and other directora of the Union Pacific, and Huntington, Crocker and Hopkins, of the Central Paciflc. The principal recommendations are as follows: That the time tor paying the Government 'debt be extended to llfty years, and that the roads shall execute a formal mortgage to the Government, that the debt üe funded at three per cent. payable annually to the United States Treasury, but that any part of the debt may be taken up in advanee: that the President be empowered to appoint one trustee and the roads another, who shall control the investment of the sinking fund; that a sinking fund at one-half of one per cent. shall be provided, and that the Law Department of the United States be vested with power to bring any suit, criminal or civil, in bebalf of the roads. CENTRAL PACITIC'S REPLY. Washington, Jan. 3.- Al most simultaneously with tho publication oï the majority and minority reports of the Pacific Ilailway Commission a book, or, more correctly, a brief of 134 pages, in defense of the Central Pacific railroad, has made lts appearance. Koscoe Conkling and William D. Shipman are its authors. The brief asBume only to discuss the testimony and exhibite broughtout by the commisaioa It attempts to exonérate the Central Paciflc, praises it as a public benefactor, and argües that the questions at issue should be referred to a judicial tribunal for settlement It is claimed that owing to the faet that the Government , insisted upou an early completion of the road the bonds were sold at $7,120,000 less than their face value, and that the company should not now be compelled to pay that sum. The argument is made that interest should be deducted, making the total deduction about $20,000,000. Another claim is also made that since the road was completed seven years in advance of the contract time the Government was saved $22,000,000, and this should be also deducted.