Huntington wanted to make sure that Philip Stanford did not get a 1/6 share and that all the securities were kept together.
Report of the Commission and of the Minority Commission of the United States Pacific Railway Commission (Washington, D.C.: GPO,1887), 69-70.
Bain, Empire Express, 129.
Mark Summers, The Era of Good Stealings (New York: Oxford Univ. Press, 1993), 50-51.
Fogel, Union Pacific, 66-73.
According to the best estimates of accountants who later examined the Central Pacific's books, Crocker and Company had received $13,657,624.70 in securities and cash, while the Contract and Finance Company had received $32, 615,452. These figures represented the discounted value of stock. In the case of Crocker & Company, the par value of the stock was $14,701, 710.22 and in the case of the Contract and Finance Company $23,726,000. The discounted value of the Crocker & Co. stock was $5,121,609; it was all turned over to the Contract and Finance Company. The accountants put the discounted version of stock held by the Contract and Finance Company at $8,889,452.
Thomas Canfield, Northern Pacific Railroad, Partial Report to the Board of Directors,May, 1870, p. 55, Graff 573, Newberry Library, Chicago.
Pierre Berton, The National Dream: The Great Railway, 1871-1881 (Toronto: McClelland and Stewart, 1970), 60-65.
There was a charter for a railroad of 165 miles linking the oceans at one of the continent's narrowest points at the Isthmus of Tehuantepec. There was a British line from Vera Cruz and a charter for a road from Vera Cruz to an unspecified terminus on the Pacific coast in Oaxaca, Guerrero, or Michoacán, and another linking the Gulf Coast between Tecolutla and Tampico to the Pacific Ocean somewhere between Zacatula and San Blas.