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Domestic News February 7, 1873

The Portland Daily Press

Portland, Cumberland County, Maine

What is this article about?

On Feb. 6, Gov. Dix denies advancing funds or negotiating loans for the Union Pacific Railroad during his presidency there, and states he had no connection to Credit Mobilier. His son-in-law Charles P. Blake recounts urging Dix to sell shares amid director dishonesty, and John J. Cisco affirms Dix's integrity amid committee statements.

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NEW YORK.
Gen. Dix and the Union Pacific
Albany, Feb. 6.-An Albany despatch says that Gov. Dix states that when he was President of the Union Pacific Railroad, he advanced in endorsements and notes for the road large amounts. His salary was $5000 per year, $3000 in cash and the remainder in bonds. His representative in New York, while Dix was in Europe, settled up his affairs with the company. Gov. Dix denies he ever was employed to negotiate a loan for the Union Pacific, and never was connected with any such transaction. He never was directly nor indirectly connected with the Credit Mobilier.
New York, Feb. 6.-Charles P. Blake, son-in-law of Gen. Dix, states that while Dix was Minister to France, he (Blake) discovered that Directors of the Union Pacific Railroad Company were not acting honestly by the stockholders, and one of them having sold his shares out at par, he wrote to Dix, urging him to do the same, and also demand from the company the money due him. Dix wrote Blake to do what would be best, saying he ought to obtain a proper price for his stock and services. Blake thereupon went to the directors demanding par value for the stock and the accrued dividends which ought to have been made had the road not been swindled right and left by those men. The directors offered $5,000 for Dix's salary, and the price of his shares, which was between $15,000 and $20,000 less than it ought to have been. Dix knew nothing of the Credit Mobilier transactions. John J. Cisco said that as President of the Union Pacific road, Gen. Dix's transactions were perfectly fair, honest and marked by strict integrity, and that no one who knew him or had been associated with him would attach the slightest importance to the statements made by Bushnell and others before the committee.

What sub-type of article is it?

Politics Economic Legal Or Court

What keywords are associated?

Gen Dix Union Pacific Railroad Credit Mobilier Financial Scandal Governor Denial Committee Statements

What entities or persons were involved?

Gen. Dix Charles P. Blake John J. Cisco Bushnell

Where did it happen?

Albany, New York

Domestic News Details

Primary Location

Albany, New York

Event Date

Feb. 6

Key Persons

Gen. Dix Charles P. Blake John J. Cisco Bushnell

Outcome

gov. dix denies involvement in union pacific financial advances, loan negotiations, or credit mobilier; statements affirm his integrity and dismiss committee allegations.

Event Details

Gov. Dix, former President of the Union Pacific Railroad, states he advanced large amounts via endorsements and notes, received salary partly in bonds, and had his affairs settled by a representative while in Europe. He denies negotiating loans or any Credit Mobilier connection. Charles P. Blake, his son-in-law, describes discovering director dishonesty, urging Dix to sell shares at par and demand due money, and negotiating with directors who offered reduced amounts. John J. Cisco praises Dix's fair and honest transactions.

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