Central Pacific Railroad Company: Southern Pacific Company

"It is very convenient to be able to borrow money sometimes upon approved security. We Are nearly all borrowers. I don't believe there is a railroad company in America that is entirely free from debt. I was never so myself but once In my life. " What do I think of the iron-molders strike? Well I am not conversant with the merits of the case but some times strikes are justifiable. Generally the best way in which to settle them is by arbitration."

Senator Stanford intends as soon as practicable to return to Washington and look after the interest of co-operative legislative. He will then avail himself of the earliest opportunity to go aboard for some months for the benefit of his health.

Huntington Is Here.

He Speaks of His Many Railroad Interests.

Collis P. Hunnington the millionaire and railway magnate arrived in the city yesterday and is registered at [the?] Palace Hotel. Mr. Huntington and party came directly from New York on a special fast train over the southern route reaching the city at noon. The Huntington party includes Mr. Huntington wife and maid; A.M. Huntington and Valet Miss Clara D. Huntington G.E. Miles Thomas H. Hubbard and Raymond Jenkins. Mr. Huntington was seen at his hotel by a Chronicle reporter last evening. The railway king is looking exceeding well and expressed himself as enjoying the best of health.

"My visit to California is nothing unusual" he said. " I have large interest here in fact investments of many millions and it is only natural that I should come out to the coast once in a while. We will have a meeting of the board of directors of the Southern Pacific Company on Tuesday in this city and I shall be present at the meeting as a matter of course."

When asked about the report that Senator Stanford intended to resign from his seat in the United States Senate Mr. Huntington said: " I know of no reason why Senator Stanford should resign. I first heard of this matter from the newspapers since my arrival here and I do not believe there is nay truth whatever in the report."

Upon being questioned as to his Congo railroad and other African schemes Mr. Huntington replied: " I have not interested myself in the Congo scheme and have invested no money in yje enterprise reports to the contrary notwithstanding."

"How about your Eastern railroads?'

" I am making few investments in the East and practically no railroad purchases. I have already sold much stock in EAstern railroads and propose to sell a great deal more."

"Are you Mexican investments satisfactory?'

"Very. Mexico is destined to become a great country and only needs development and American capital and energy. I am well pleased with my Mexican properties."

Speaking of California Mr. Huntington said: "I intended to invest still more in California railroads and other properties. In fact I intended to gradually dispose of my Eastern stocks and concentrate my forces in California. I am a great believer in the future of this State."

The Huntington party will remain here for a week or more. After the meeting of the railroad directors on Tuesday Mr. Huntington will inspect certain portions of the Southern Pacific roads and will then visit [Montrey?] and possibly San Diego.

Copy

First:

The following to be and constitute the Board of Directors of the Southern Pacific Company for the ensuing year.

Leland Stanford C.P. Huntington Charles F Crocker J.C. Stibbs W.E. Brown A.N. Toure Thos E Stillman S.T. Sage E.H. Miller Jr. W.V. Huntington Thomas H Hubbard

Second:

That C.P. Huntington be elected President for the ensuing year.

Third:

That an executive committee be appointed by the Board to consist of the following Directors: Leland Stanford C.P. Huntington Charles F Crocker and Theos. H. Hubbard with Leland Stanford Chairman thereof

Forth:

That the papers in possession of C.P. Huntington in reference to the Sargent matters be either destroyed or delivered sealed to the undersigned to be disposed of as they shall see fit.

Fifth:

That all the parties owning or representing interests in the property of the Pacific Improvement Company shall in good faith refrain from hostile or injurious expressions concerning each other and shall in good faith cooperate for the election of Leland Stanford as Senator to the next Term of the United States Senate

Dated N.Y. Feb 28th 1890

CPH LS} Initals

Signed}

T.E. Stillman Thos. H. Hubbard C.F. Crocker