The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-03-13
THE PACIFIC GOULD.
Prominent Financiers on the Subjects the
Union Pacific to Become Another Eriel-
Gould Not Controlling Power in the Di-
rectcry- How He Voted Himself IN
The Probable Future of the Road.

The Probable Future OF the Road.
The excitement In Wall street over the election
Of Mr. Jay Could as a dire otor OF Union Pacific con-
tinues to increase 1t may not perhaps, be prop
eriy called excitement but 1t certainly ID feeling
OF interest, doubt and insecurity among bondhoid-
ers which may be productive Of some change IN
the status OF the road Though foreshad0wed IN
the HERALD, this election was viewed with great
dOnbt even by men who believed they had the
"inside track" on all matters pertaining to Wall
street news To the very moment OF the election
many OF these did not believe Mr.. Could could snc-
coed IN his project, but they found themselves
amusingly deceived when the moment came. The
whole election Is stated to have been controlled
entirely by the coalition Of the Ames- Gould inter-
est at least as far as themselves ana their par
tisans were concerned. People in Wall
street are varlOusly affected by this cleo
ton, though none OF the prominent men
seem to care to give their opinions TOO
frankly upon the subject They appear, on the
contrary, TO rather wish to be left alone about the
matter. and express no opinion until they find how
the land lies. Some believe that the election Of
MIR. Gould will exert a baHeu influence upon the
road, while others think tnat the effect will be
neutral. None go further than this by openly stat
ing that they believe the influence win be for good.
Messrs. Morton, Bliss & Co. are the financial
agents OF the Union Pacific Railroad. reporter OF
the HERALD called upon Mr. L. P. Morton yesterday
with the intention Of ascertaining his opinions
upon the new DEAL and also as to the statements
about his declining election to the directory be-
cause Of Gould's presence among them. The views
OF Mr.. Morton are all the more important IN
consequence of his being the representative here
and the mOuthpiece Of the house OF Morton, Rose
b Co., Of London, the financial agents OF the road
there, and whose interests are greatly centred In
the road.
VIEWS OF MR. L. p. NORTON
Mr. Morton said that he wished 1t to be distinctly
understood that he had not In any manner op-
posed the election OF Mr.. Jay Gould to the directory
Of the road, nor was he to be counted against Mr.
Gould in any manner. He said
'My interests as banker would render It un-
wise for me to be a partisan In the matter. ! had
stated in Boston ct the meeting that did not
wish to be in the Board because had too much
else to attend to. People may draw their own in
ferences of my action in the matter"
"Opinion seems to be pretty general" said the
reporter, "that the influence of Mr.. Gould in the
directory will be for the bad OF the road. Is this
your opinion ?"
at Is not, I DO not think that the fact of Mr.
Gould being o director will hurt the road In any
manner People who LABOR under this fear may
reassure themselves from the TACT that of the
twentyone directors Of the Union Pacific six are
government directors, and Of the fifteen others
only five are IN the direct interest Of Mr.. Gould.
With five In twenty-one he certainly cannot con-
troll the policy or the counsels OF the road. Should
he wish which Is not probable, to run the thing in
bis own particular interest, he would have q
majority of eleven to overcome, six OF whom are
directly in the interest OF the government direc-
tors II Is not possible for Mr.. Gould to overcome
such majority az this. But, besides, am OF the
opinion that Mr. Gould sincerely has tho interests
| OF the railroad at heart and that he Will not
attempt to run the thing as ne has done other in
situations. am a frm believer III the theory that
Mr.. Gould purposes to
PURSUE AN HONEST CAREER
| and give up his former ideas. He sees. we all
see, That the future OF the Union Pacific is great
one, and that properly managed 1t has prospects
surpassed by none. But. as say, even did he
less to do anything"
''Was it not general surprise that Mr.. Gould
succeeded SO well In his design to become power
IN Union Pacific ?"
"Well, the matter has been affirmed and denied
lions were generally known. He has been buying
stock for some time, and his strength may be
imagined by the fact that he voteu on 10000
shares OF stockthat Is TO say, the controlling in
terest IN the road. OF course 1t was impossible to
! resist this; nor was tnere any attempt to do SO.
| Mr.. Ames and Mr.. Gould had q consultation before
| the meeting, and whatever was done may be at
| tributed TO one as mucn as to the other"
"rhe statement then, that you refused 10 serve
| in the same board with Mr.. Gould Ii without
| foundation 7"
Mr. Morton nesitated moment before replying
al do not say that he answered. II refused to
be q candidate, but do not say 1t was because Mr.
| Gould was director. Outside OF the Gould inter-
the directory Is composed Of the most respect
able men IN BostOn-men who could not in any
wey be induced to subscribe to measures which
were not IN every way cOrrect-and the President,
Mr.. sidney Dillon, Is man we all know and would
trust Taken altogether, believe the directory
| to be very good one. Az Tor MIR. Gould person.
| ally, no man understands himself and the business
better, and he Is able to put IT, with the assistance
| OF Others In better position than 1t has ever
! been in.
| WHAT MR.. A. s. HATCH SAYS.
Fisk Hatch are the financial agents OF the
Central Pacific Railroad, the combination OF the
| Mr.. A. S. Hatch, of this firm, was called on by
the HERALD reporter, and his views asked for on
the question which is agitating Wall street just at
Mr.. Hatch seemed to be more willing to give his
| opinion on the subject than the gentleman who
! preceded him in the succession OF Interviews The
! conversation which took place between the re-
porter and the banker ran as iollows:-
| KEPORTER-What has been the erect OF the cleo.
| ton Of Mr.. Jay Gould as member Of the Union Pa
MIR. HAron.-rhe effect has been or rather was
at trst to deprcclate the bonds and to put up the
| stock, the bOndhoders, VINO are the owners of
! the road, seeming 10 be afraid OF the new man in
! the stock as q compliment to HIM. That there Is q
| feeling OF uncertainty as to the new management
| can hardly be denied, and the want OF confidence
| has been expressed in many quarters. STILL the
| fact OF Mr.. GOulds having
FAR FROM A'CONTROLLING POWER
| In the Board Is probably reasSuring to o great
| many who lear his having the same control here
that he formerly had IN Erie. STILL OF course, a
railroad is like everything else, you can't prevent
a man becoming owner OF 1t If he can and viii pay
| for it, Mr.. Gould paid his way into the directory
Of the road Tor himself aud his friends and he has
an unquestionable right to do 3d. What he pro-
! poses to do with the property l of course cannot
| say. 1t would seem as II he could not bring IN
many Of his peculiar tactics In the lace OF q large
majority OF the directors who are not in hls IN
terest.
''rhere seems to be, however, prevalent opin-
terest OF the roadYo
at IS quite possible" said Mr.. Hatch, "that he
intends to refrain from his old practices and II he
does II is all the better for the bOndhOders. But 1
have opinion on this subject. 1t has been known
for some two weeks In Wall street that he was
I'm ng IN tho stock and the imnreasion tho p