The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1881-11-18
TELEGRAPHIC NEWS
RAILROADS AND 8TEAM.
BRIPS.
The TroubIe Between the
Overland and the Ooean
A1WG6


New York, 1.-THE Tribune has the
following details: Sidney Dillen, pres
ident of the Union Pacific, resigned his
position as director Of the Pacific Mail
steamship Company at q full meeting of
the board to-day. Nothing had been
done al The meeting toward q reconcilia-
ton with the overland railroads, and Mr..
Dillon offered his resignation after stat
ing that the railroad companies intended
to put rival line OF steamships on the
China route. His resignation was not
accepted, bat committee consisting Of
Russel Sage, Henry Hart and President
Houston WAS appointed to confer fur
Their with officers Of he overland roads.
It is understood that the railroad compa-
mics insist upon the privilege of buying
the Pacific Mail steamships now On the
China line, the City of Toxic and the
City Of Pskfn fo- which they offer .
large price and that on this condition
alone they will consent TO new agree
ment allowing the steamship company
full cGrgoes and rates. II 10 estimated
that this would reduce the monthly al
Iowa ce freR $4,000 month to about
S55, 900 or $50, 600. The Monthly pay
ments to the Panama r. r. Company,
however, amount to $4,000 a month,
and Of this SUN about $50, 900 is paid on
California freight. A director of the
company said this evening that this ulti-
matum Of the overland roads meant
simply that the steamship company
should de The through business for
nothing sftss having surrendered line
that brought in more than one half of
the net earnings Of the company. At
the same uRs, he said, it was difficult to
see how the company could do much
better for the overland railroads had re-
fused to make better terms and the
Panama r. 4. was rather desir.
Gus that the Pacific Mail should
terminate the contract with that COM
phny, SO that it could put on line of
steamers OF its own. While the resigns-
ton Of DlllSn was not accepted, and that
Of Huntington, OF the Central Pacific,
was not even offered, although it had
been written before the meatiag Assem-
bled, 1t 10 understood that the companies
will at once place steamers on the China
route IN opposition to the Pacific Mail.
Dillon 10 reported to have said ct the
meeting that If the railroad companies
were obliged to enter on q fight with the
steamship companies, they might as we'll
do it along the whole line.
The Tunes says Jay Gould and g. P.
HuntlngtoH have concluded to end their
southern railroad war, and a compromise
agreement is to be executed day. The
Gould party signed the contract yester-
day. The Huntington roads affected by
the agreement are the Central Pacific
and Southern Pacific; the Gould roads
are the Texas Pacific, New Orleans
Pacific, Missouri Pacific, the old St.
Louis, lrsa Mountain and Southern, the
Alssouris Kansas and Texas, with its old
International and Great Northern. The
6itterest 81 the fight has been carried on
between these interests of the competing
Iines as tAe roads do at important points,
out 0y the terms If the agreement lust
reached, all pending litigation is to cease,
and hsRSAferth arbitration is to be
the rule en- all conflicting matters.
Ike contract provides that the Texas
Pacific Ahsll stop construction at the
present point of junction with the
Southern Pacific, about eighty miles from
FL Paso. The road between this junction
and FL Paso is made subject to the per-
petual joint use of each party to the con-
tract. The cost Of maintenance, repairs.
etc., being equally divided between the
two interests, Huntington acquired the
right to iAterseet the Missouri Pacific
eighty er 100 miles from New Orleans,
and thus secure perpetual joint rights Of
use to New Orleans on terms the same
as accorded to Gould. Another combi-
nation is that all roads effected by the
contract shall constitute one continuous
line, with pro rata mileage, division of
earnings. The business between New
Orleans and Galveston is to be divided
between the companies.
New York, 17.-Directors Of the Han
nlbal and st. Joe elected VIM. Dovd
president, John r. Duff, vice-president,
John a. hilton secretary, w. j. Hilton,
treasurer.