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would once again haul the
lion's share of military supplies; that Congress would grant their claim of $494,000 in losses suffered in 1857 on the way to Fort Bridger, when attacking Mormons destroyed several trains; and, finally, that Congress would quit its interminable bickering and authorize a triweekly service over the Central Route, thus saving the Pony Express. None of these expectations materialized.
In the end, desperation led William Russell to traffic in stolen government bonds, money belonging to the Indian Trust Fund of the Interior Department, where they were held for the benefit of various Indian tribes. Russell "borrowed" the bonds to cover the company's losses. When he learned what had happened, President Lincoln himself insisted on an investigation. Russell was arrested in his New York office and jailed. Called before a congressional committee, he testified freely and frankly, at the suggestion of his lawyer, who knew that by a congressional act of 1857, witnesses who testified before Congress could not be indicted for the matters on which they testified. Although he was saved by a legal technicality from trial and imprisonment, Russell did not escape censure. In a letter to the attorney general a week after his inauguration, Lincoln referred to the matter of the stolen bonds as "the Russell fraud." Though spared the worst punishment, Russell was nevertheless disgraced, and returned to Missouri, where he died broke on September 10, 1872. He was sixty years old. The Pony Express had been Russell's great gamble, the critical turn of the cards, and it had failed.
"That the business men and citizens of Lexington believed in Russell and highly respected him is quite obvious," wrote the authors of Saddles and Spurs. "His record for more than two decades was without spot or blemish. During that time he was regarded as one of the town's most progressive citizens. Then, in the year 1860, in the far away city of Washington he, by one act, stained that shining record. Anyone who studies his remarkable life, including this incident, turns from it all with a feeling of intense sadness that a brilliant career such as his should close under a shadow."
William Waddell returned to Lexington and died there on April 1, 1862, at the age of sixty-five.
As for Alexander Majors, he moved to Salt Lake City, where he tried freighting, then prospecting. After 1879, he lived in Kansas City and Denver. Buffalo Bill Cody, then at the height of
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Robert A. Carter (Buffalo Bill Cody: The Man Behind the Legend)