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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.
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