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Show S. L S. V. & P. R. R. Er. Jacobs Tells His Sitlo of the Story over His Own Sigmf u.rc. j The Conditions of His Resignation. ; New YoiUv Cirv, April 2jI!i, 1S7L EdtUna ilera'd: I Kecogni.ing the liberal spirit which animate.) the management of your valuable journal, I ask permission to express through its columns to the people of Utah, sonic in term at inn in regard to tho management of the Sail Lake, Sevier Valley and Phx-he Railroad, and the menus used by which certain parties now prominently promi-nently identified therewith came lu occupy oc-cupy the positions which they iwuuio to fill. It is weil known to most ot the ' people in Utah that I was one of the originaloia of the enterprise, and that I devoted much time and expeiu'lid considerable amounts ol money to advance its progress. In July lai I was feting President of tho road, and under instructions from the directory, I received oreduut-als as Financial Agent of the Company, and came east lo negotiate the tale- of bonds ami to purchase material lor iu building ttnd constimtion, Notwithstanding the many obstacles that hud to be overconio in accomplishing the desired de-sired object, 1 succetded in purchasing purchas-ing 1,0U0 tons of iron rails, sufficient for the completion ot twenly-two miles ot the road, and in making sue-, cesslul preliminary arrangements fen sufficient money to dctray cost of freight thereon and to lay the same, I also had encouraging negotiations negotia-tions pending by which 1 hoped to effect in Europe the sale of the Company's Com-pany's bonds to the full extent of its requirements. At this iavorablo juncture junc-ture of my negotiations, Gen. Connor, then vice-President and Treasurer cf tho Company, and Colonel T. P. I at my rooms. Fifth Avenue Hotel, tiiis city, und, alter much general conversation, con-versation, General Connor stated lo me that there was in the directory of the Company much dissatisfaction, and that only by my resignation as President of the Company could bar-mony bar-mony be restored and prosperity of the Company be assured. Not wishing to bea hindrance to the advancement of an enterprise that so greatly concerned the general welfare of my adopted and future home, und not doubting the truthfulness of the statements and assertions made lo me by General Connor and Colonel Akers, I subscribed sub-scribed to the annexed letters of resignation, re-signation, and delivered the same to General Connor, accompanied by a letter of instruction (in pres'.nco of H. A. Johnson, Esq., whose allirma-tiory allirma-tiory note is appended), the following being a true copy: Fifth Avo. Hotel,-New York, August 1st, ll7-S. "Dear Sir: Hearing through various sources that much opposition has been arrayed against our railroad enterprise in Utah and it having been intimalod to me that some persons who (jppwe us, do so because I am the President of the Company, and feeling that the success of the Company Com-pany should be of tho highest consideration con-sideration to all concerned, I have detenuiued to submit myresignation, and I herewith baud you the same,-boping same,-boping thereby to remove ail discordant discord-ant elements and to restore har mony of purpose and action. My resignation is absolute in its terms, but 1 do not desire you to present the same unless you have satisfactory assurances from the directors that the Board will elect me vicc-President, as you are aware I have no business engagements outside out-side ot the Company and propose to devote my whole time in promoting its success, hence, as you and Col. Akers have suggested, I think it would vice-President be fixed at five thousand thou-sand dollars per annum. 1 have the fullest confidence iu the complete success of our Company, and I should exceedingly regret that anything should occur that would sever my active connection with its ailairs. Yours Respectfully, H. H. Jacobs. To Gen. P. Ed. Connor, Treas. of the fi. L., S. V. & P. R. K. Co. Tiic foregoing is a true copy, the original of which was placed in Gen. Conner's hanes, Aug. 1st, 1873. It was distinctly understood tn my presence between Mr. Jacobs and 1 Gen. Connor that Jacobs' resignation t should be held by General Connor, ! I subject to the conditions of this letter. , Col. T. P. Akers was also privy to the terms when the resignation was placed in Gen. Connor's hands. l. A. Johnson. New York, March 2nd, 1S74. Fifth Ave. Hotel, New York, August 1st, lb73. To the Board of Directors of the S. L. S. V. it P. R. K. Company, Gentlemen, I hereby tender my resignation as President of your Company Com-pany and beg that you will immcdi-utely immcdi-utely accept the pamo. Yours respectfully, re-spectfully, H. S. Jacobs. Upon the delivery of my letter of resignation, and its accompanying note of instruction to Gen. Connor, it was distinctly understood that only upon the eondit'ons named in tiic taller, would he convey to the board the, former; aud it was only upon his pledging his tolernu Word and honor that I snould be made vice-President of the Company, did I coi sout for the Company's supposed good to this i:litnttin eMhan .c nf position with (,'eit. Connor. Gen. Connor, after ol taii.ing my letter of resignation, immediately im-mediately returned to Suit Lake City. Tho board convened, disregarding his solemn pledges to me, and not heeding heed-ing the conditions upon which it was to be submitted, delivered my letter of resignation, which the board accept ed. In so doing, I submit that Gen. jet rayed the confidence I n-pvscU in 'tiin. The board, at the same meeting, meet-ing, elected Gen. Connor President of Lhc Company in my stead, and Hon. Heber P. Kimball, vice-President, ind thiid it rame abuiU that Gen, P. Edward Connor reached tho first joa! of his ambition, by becoming President Presi-dent of the Salt Lake, Sevier Valley and Pioche Railroad. The people of Utah are left to judge whether tho position he thus surreptitiously acquired by the violation viola-tion of his word ot honor, and tho betrayal be-trayal of confidence reposed in him, has not been more ornamental than USt'JUl. Very respectfully, II. S. JACoKS. |