Rensselaer Union, Volume 5, Number 19, Rensselaer, Jasper County, 30 January 1873 — The Credit Mobilier. [ARTICLE]

The Credit Mobilier.

The Credit Mobiler is a sort of ring, company, corporation, or monopoly of Trench parentage. The particular Crtfdit Mobilier which is attracting so much attention at the present time, and the revelations of the officers of which are such an onslaught upon the repitta-' t i o n s o f in an y p rdin the n t pol i t i c i a u a, "as incorporated under an act of TifTt llll s y 1 v ah i-a 1 cgi si at u re, i.s de scribcd by Dr. Thomas C. Durant, one of us members, in an affidavit* P .s follows; “ When the Union Pacific road was under construction a ‘Ting” was formed inside the direction, embracing, as such a combination always does, the shrewdest, most active, and least pulous of the Roardj for tiie -oruohmaking large fortune*- ' - purpose hers in an illegitim-' ... tor its memcost of tiie roa<' .no manner, at tiie ing stockd ~ and of the unsuspect.ruction contracts. Through the votes of-the “ring’’ the work was to be awarded In a lump to some dummy contractor, at a price double or more than double the cost with a fair prolit added; for, as a great many capacious appetites had to lie satisfied, an ample margin was inccessary. The contractor was then to make over the contract to the “ring” directors, in tiie eapae--Ity of stockholders of the Credit Mobilier, tiie pretense being that the Credit .Mobilier had the means to push the work vigorously forward, and would be better aide to do so than any single individual. In pursuance ot this conspiracy—-for it was nothing else —the contract for tiie construction of a large portion of the road at fifty tholisaiul dollars a mile was awarded and duly assigned to tho “ring”—a price which, according to £>r. Durant’s i statement, j&is more than double the: ' legitimate <-i»t of the work. This, however, was not enough". By tiie votes of t he contractors many miles of road which had already been constructed and accepted by the United States government as complete, and which had nearly all been paid for by tiie Union Pacific Company,'were included in the contract of fifty thousand dollars a mile, and thus an enormous amount of money was taken bodily, as it were, out of the pockets of the stockholders, without a shadow wf justification, and transferred to the greedy grasp of the ring. The shares of tiie Credit Mobilier were thus made tH, imee.Worth from eight tb-teif ttihes tiieir face value —that is to say, a single thousand dollar share was worth from eight to ten thousand dollars each.”

The -Kent!and Gazette stays a new depot building yill certainly be erected in that place during the coming spring. Th c Banner says that filial Germans at Ligonier are shipping pork and beef liy barrels to their parents in the Fatherland. "The Star shys that Lowell is fast becoming a first-class horse market, and that inusquito bars have gone out of style up in that muekshaw region. A New Hampshire paper pubj lishes a list of seventy-three persons | who died in that state in 1872 over the age of ninety years. The averge age was 94. years and 9 months. It is reported that the new owners of the Louisville, Xew Albany & Chicago Railroad Dave determined to spend one million of dollars in repairing the road as soon as, the weather will permit, l _ ,»•- Mr. Willis ofßenton county, recently sold fourteen head of cattle that averaged 1,700 pounds each. Three of the largest weighed 1,900 pounds each. Twenty head of two year olds averaged 1,310 pounds each. The interest now manifested in the building of the I. 1). & C. It. ft.,- is greater than it ever was before, and is daily increasing. Energetic efforts are now''.being put forth to give prominence to the enterprise, and elicit cooperation and aid, and these will not bo relaxed until crowmed by success. To determined and energetic men nothing isTtlipossiblc. Our motto is “keep the ball rolling.!’—Montieello Herald.