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De Soto, Jefferson County, Missouri (Missouri, United States) (search for this): entry credit-mobilier
Credit Mobilier, credit on movable personal property, a name given to a great joint-stock company in France in 1852, with a capital of $12,000,000, which was sanctioned by the government. Its object was to carry on a general loan and contract business. In 1859 a corporation for this purpose was chartered in Pennsylvania. It was organized in 1863, with a capital of $2,500,000. In 1867 its charter was purchased by a company formed for the construction of the Union Pacific Railroad. The stock was increased to $3,750.000, and soon rose in value to a very great extent, paying enormous dividends. In 1872 it was charged that a number of members of both Houses of Congress were privately owners of the stock. As legislation concerning the matter might be required, and as grants of land had been made to the railroad company, Congress ordered an investigation. The Senate committee reported the innocence of several who had been accused. The expulsion of one member was recommended, hut