New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-09
FINANCIAL COMBINATIONS.

THE NEW TRIUMvIRATE - PANAMA, PACIFIC MAIL.
AND UNION PACIFIC-vIEw5 OF THE OFFICERS OF
THE C0MpANIEs-srATE LEGISLATION AND STOCK
JoBBING CANARDs.
The new combination between the Panama
and Union Pacific Railroads and tho Pacific Mail
steamship Company is regarded as almost an accom-
pilshed TACT Yesterday afternoon there was
an informal caucus OF representatives OF the
three corporations at the Pacific all
Steamship Companys Office Russell Sage and Geo. Scott
representing the Panama and Pacific Companies, and
active directors representing the Union Pacific The adhe
rents aud promoters Of these enterprises say that their
true interests VIII be subserved by equitable working
arrangement whereby disastrous competition will be
avoided No formal conclusion has yet been arrived at
but that the freight arrangement will be concluded is
regarded as beyond a doubt
Russell Sage, President Of the Pacific Mail Steamship
and Panama Railroad Companies, said yesterday that
the Pacific Mail Company about TO enter upon
new era OF prosperity without desiring TO reflect upon
any one, he would say lack Of enterprise exhibited
by former administrations Of tho Company had done
much to repe trade from their line. At the present
time there was large Of trade at the China end
Of tho line. which simply wanted attention to
became source OF great profit 10 the Company. The
same was true of the Panama Railroad great line
OF steamers plying along the South American
coast, "a in the aggregate, only needed fair
treatment IN order TO bring its business to the sthinus
and send it over the Panama Railroad. As 1t
Is now, owing to the fact that they connot
make equitable arrangements with the steamers
which ply on the west coast OF South America, on
obliged to 20 down the coast pass through the straits
come up again the east coast aud then pursue
their across the Atlantic to the term-
nus OF the line in England. This was literally
" doubling South America. 1t was absurdly
expensive and unnecessary. The Company desired TO
avail themselves OF the facilities of the Panama Rail-
a tariff. had not succeeded. Tue present Board OF
Directors would invite this English company 10
the railroad on fair terms If they concluded so TO
do, this would be clear saving OF many thousands Of
miles, and weeks time more on the South Atlantic
voyage Iaey could run their steamers 10 tne west
coast OF the Isthmus, discharge, and then
ship their cargoes over the railroad and
could receive the cargoes and take them to England
In addition TO this English company there was Ger
aud would be invited TO the Panama Railroad
The Pacific Mali Company was not jealous but
They were making arrangements to carry the Whole
China and Japan tea sr3p In % d9 dS' n ang
steamer CITY Of Picking would he ready in time
10 assist The Pacific Company had reduced the freight
eject OF bringing them large cargo of that
article. the ARRIVAL Of which in fne condition
all this the Pacific Company proposed further to
strengthen itself By attracting the business wich goes
ege transhppiug their goods on their arrival AT san
Francisco, either by rail or steamer. -...,.-
the Company proposed 10 enter into an agreement WIN
inc Union Pacihc Railroad TO carry freight on an
eouitable basis one that wOuld be eventually
satisfactory. rne matter had not been oncally
arranged but had been informally discussed, and the
representatives the three corporations were In favor
Of IT. A report having obtained circulation mat
IN was intended make change III the Presidency or
Inc Union Pacific Railroad by placing M sage at tne
head OF IT, AZ President, that gentleman when applied 10
said that there no truth IN tue rImor -
Sidney Dillon President OF tue Union Pdclnc RalIfOad
briefly sand in response the inquiries concerning tue
rrnp0sed combination, that tue representatives Oi
tne three companies had spoken IN an Informal
owner on the subject All regarded 1t as desirable
arrangement, and probable that the agreement
would be contaminated. ,, . 1891.
In view Of proposed extension OF facilities 10 out
side organza,ion George scott Will 20 to Europe at an
early date make arrangements with the EngsL ahd
German south Atlantic companies, win view 10 Dehe-
hitting the Panama Railroad Company.
Considerable interest seems TO prevail on tue Irouuc
Exchange over the continued advance in the p1lce o
lard The lard crop this last season Is short many mn
lions OF pounds. ThTecqndrters Of the Stock on mana is
held in Cincinnati and Chicago There lSa large suOrI
interest and the price has advanced about three cents
a mound, and there peremptOry symptoms or a
corner" The principal Western dealer is III
and ms presence the Produce Exchange has e1cltcu
much comment and conjecture.