Monopolies -- United States; Railroads and state -- United States
In addition to the road from Sioux City to Omaha, and for the purpose of
getting all the land and money possible out of the government, the
conspirators organized another company, under the laws of Nebraska,
to-wit: The Fremont, Elkhorn, & Missouri Valley company, and built a
road running from Missouri Valley to Fremont, in Nebraska--about fifty
miles,--and these two roads, from Sioux City to Missouri Valley, and
from Missouri Valley to Fremont, are now called the Sioux City &
Pacific. We do not know who were the incorporators of the Fremont,
Elkhorn, & Missouri Valley company, but we find among the present
directors, John I. Blair, D. C. Blair, and ex-congressman John B. Alley.
The two companies are consolidated. The grant of one hundred sections of
land, and bonds to the amount of $16,000 per mile, with the privilege
of issuing first mortgage bonds to the amount of $16,000 per mile,
altogether comprise one of the most remunerative jobs ever conceived and
consummated by incorporating, stockholding and "direct"-ing congressmen
in the companies receiving the aid. When it is remembered that the
actual cost of the construction of the road was less than $30,000 per
mile (as shown by the _Railroad Manual_), and that it is of no value to
the government because of its course, save for carrying local mails (its
entire earnings for government transportation being less than $1,000 per
annum), it will not be uncharitable to conclude that this _fat_ little
slice of the Pacific railroad job was put through congress, and nursed
and petted by government for the exclusive benefit of congressmen, their
friends and relatives.
Public-domain text, read in full here on John Shaqi.
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