TWENTY MILLIONS CLAIMED.

Gisborne Times, Volume IX, Issue 809, 26 January 1903, Page 3

TWENTY MILLIONS CLAIMED.

One of the most important lawsuits ever brought in an American court, from a monetary point of view, was commenced in New York at the end of November by Mr Walter Morsehoad Laudon, a barrister, representing the minority of the shareholders of tho Central Pacific Railway. The action is to recover £20,000,000 from tho estate of the late Mr Collis P. Huntington. Tho plaintiff's declare that the shareholders were defrauded of this sum by tho machinations of Mr Huntington, Mr Leland Stanford, Mr Charles | Crocker, and Mr Mark Hopkins, who wore once popularly known as “ the Big Four.’ Thcso financiers, all now dead, wore officers and directors of tho Central Pacific Railway Company, and planned to build over 1000 miles of new line. Tho company obtained a subsidy of £6,000,000 from the United States Government. It is alleged that Mr Huntington and his associates gave the construction of the work to certain companies which they controlled, and charged over 32 millions for the work, while tho actual cost was not over 12 millions. The main object of the suit is to compel Mr Huntington’s executors to give an account of tho money ho is alleged to have made while connected with the Central Pacific. Tho Southern Pacifice Railway now owns a large part of the stock of the Central Pacific. It is reported that an action will shortly be brought to prevent that company from proceeding with the issue of its collateral 4 per cent, bonds based upon the preferred stook of the | Centra) Pacific. .