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Commercial October 21, 1871

Alexandria Gazette

Alexandria, Alexandria County, District Of Columbia

What is this article about?

Ex-Senator E. D. Morgan of New York and Rep. Oakes Ames of Massachusetts, trustees for signing Union Pacific Railroad's first mortgage bonds guaranteed by the U.S., received payments: Morgan $5 per bond totaling over $30,000, Ames $1 per bond totaling about $20,000.

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OCR Quality

95% Excellent

Full Text

Well Paid.—It has come to light that ex-Senator E. D. Morgan, of New York, and Mr. Oakes Ames, a member of the House of Representatives from Massachusetts, who were made trustees to sign the first mortgage bonds authorized to be issued by the Union Pacific Railroad Company, the ultimate payment of which is guaranteed by the United States, got very well paid, to say the least, for attaching their signatures to these securities. It will be remembered that both these gentlemen were members of the Pacific Railroad Committee in their respective bodies at the time these bonds were authorized to be issued, and it turns out that the then senator from New York charged and was paid $5 for each bond signed by him, amounting to the sum of $30,000 or more, while his colleague in the other House from Massachusetts was content to be paid $1 for each signature, or about $20,000 for the same service.—Washington Patriot.

What sub-type of article is it?

Railroads Stock Market

What keywords are associated?

Union Pacific Railroad Bonds Trustee Payments Congressional Compensation

What entities or persons were involved?

E. D. Morgan Oakes Ames Union Pacific Railroad Company United States

Commercial Details

Key Figures

E. D. Morgan Oakes Ames Union Pacific Railroad Company United States

Notable Details

  • $5 per bond for morgan, totaling $30,000 or more
  • $1 per bond for ames, totaling about $20,000
  • trustees for first mortgage bonds
  • members of pacific railroad committee

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