New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-25
RAILROAD INTERESTS.
Union OF PACIFIC RAILROADS.

CONSOLIDATING THE UNION PACIFIC, KANSAS PA
CrFIC AND DENVER PACIFIC RAILROADS.
The consolidation of the Union Pacific, Kansas
Pacific and Denver Pacific Railroads was perfected
Yesterday by the unanimous vote OF the directors
of the three companies. The union of these roads
has been contemplated for a long time. 1t was
proposed last Fall, when the Wabash and the st.
Louis, Kansas City and Northern Railroads were
consolidated to place them all under one manage
ment The project was abandoned, however, on
account Of tho opposition of some of the
largest stockholders of the consolidated Wabash
company. 1t is still believed by many that the
union of these systems which controlled by vr-
tually the same owners will be accomplished
finally.
Nearly all the directors Of the three Pacific rail-
roads were present yesterday at the meeting which
was held at the Union Pacific Office There was no
opposition to the proposed consolidation. large
majority of the stock Of the companies
was represented by the persons present at the meet
ing. A paper which was prepared after the ad-
iournment of the meeting for the approval Of
the stockholders of the Kansas Pacific Company
received in q short time the signatures
OF the holders Of more than twO-hrds OF the stock
of that company. There is no doubt, therefore,
that the consolidation Of the roads will be ratified
by the stockholders of the companies
The stock aud funded debt of the companies will
NOT be changed in amount by the consolidation.
The new company will issue stock to the exact
amount of the combined capital Of the three
companies, and the bonded debts will
remain q lien upon the divisions of
the road upon which they were originally placed.
rhe capital stock Of the Uuion Pacific Road is
$50. 762. 300 and the funded debt. exclusive of
United States subsidy bonds amounting TO
S27. .23G.512. is $50 1SS, ,0O0 The road was opened
4 tvho ri ioD
was made with the Central Pacific. which was COM
pleted on the same day. Besides .he main line ex-
tending 1854 miles from Omaha to Ogden, the
compauv controls branches over 500 miles
in length The Kansas Pacific Company has a
capital stock of 80 ESQ $50. and its funded debt
consists of the consolidated mortgage of
10000 600 which was placed on the property OF
the company on its organization III May, 1879. OF
| This issue S2i 900, 600 were reserved exclusively
for the conversion of the outstanding funded debt
! except that due to the United states. plan was
made for the exchange OF bonds according to scale
from par to 30 per cent OF some, and 30 per cent on
others. The reduction in the securities
! caused some opposition, which it IS
| understood has been conciated. The Kansas Pa
ciGc extends from Kansas City to Denver with Il
! short branch from Lawrence TO Leavenworth. The
road was completed in september, 1870 and il
1873 the property was placed IN the hands of receg
| rrs the company having dctaulted IN the payment
of interest on it, funded debt 1t was TcorgauIZcd
| m Nav. 1879. The Denver Pacific. extending from
Denver CIV TO Cheyenne fO6 miles. connects the
| Union and Kansas Pacific Roads. IL built
| under the charter of he Kansas Pacific. which was
/ then known as The Eastern Division of the Union
! P.cifc The road wos opened IN 1871, lis capital
stock il ~ 600 600 and the funded debt, according
to the latest statement, j. $2,2 COO. Tie capital
stock of the coHsoli lilatel company will be therefore
| $jO,ij2,25O. -.
! Railway Company, and the officers chosen
vcstcr,lav we're the former officers of the
! I'u'1n Pacific: Sidney Dillon, president;
! Elisha Atkins, vice-presdent and Henry Nc
Farlaud secretary and treasurer. The directors of
| tnc new company arc FretcrcN /. AmoS,
! Eo.ton: Carlos :. Greeley, ST. Louis; Ezra
| n Baker Elisha Atkins and L. Gordon
Dexter Boston; Sidney Dillon. G.. NJ. Dodge, Russell
! Sage Jaw Could Soon HumpaTevs DAVID DOWs
! and Thomas +. Eckcrt NeN-lOrk; William J..
| scott. Erie. Penn; :. II. II. Clark Omaha, and
| Inbu sharp, salt Lake City OF these, twelve
! we're directors ot the former company Carlos
| : Greeley who WAS a director in both the other
| conpatits 10 VI. Doda who was director IN the
| Kansas Pacific. and Thomas /. Eckcrt president OF
| fine American Union Telegraph Company. take the
| places of james Il. kecnr, Addison Cammack and
! ", 4. H. Rowland Sidney Dillon aud Jay Gould
| were diurciors in the three companies.
| The Directors yesterday expressed great
Measure al the result of the meeting. In
! rrgnrd to the reported claim of Henry :.
! Dakin for the trans. cr to nm OF stock
1ssuel by the KausasP Pacific under its origlna name,
| II was sad at the Office of the company that the
/ stock would be good If it had not been wiped
/ ont"