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Sign up freeThe Charleston Daily News
Charleston, Charleston County, South Carolina
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Commentary on potential government action to recover millions in interest arrears from Union Pacific Railroad, exposing Credit Mobilier scandal where funds were diverted for dividends to shareholders, including legislators who suspended claims, enriching insiders at public expense.
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The government seeks to recover arrears of interest from the Union Pacific Road, revealing motives in Credit Mobilier manipulation where management used government dues for shareholder dividends, influencing legislators to suspend claims, allowing large profits while the government bore the costs.