Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1881-03-26
ORRGoS.
Iten,s from Pnriinn

PORTLAND, March 18th The weather is,
cool end showery.
Much surprise is felt and expressed at the
somewhat remarkable verdict Of the jury in
the Kalloch case. While the greater por-
tion of the public condemn in unqualified
terms the character of journalism maintained
by the deceased De Young, yet all agres that
the crime of murder was committed. and
that Kalloch should have been punished. A
few openly justify the jury, but the majority
of citizens believe that the law should have
been vindicated. The verdict is the subject
of very general comment.
A big landslide occurred yesterday en- the
Willamette river opposite New Era, Clacka-
mas county. An immense mass of earth,
timber and rocks became detached from some
cause and slid into the stream with noise
louder than clap Of thunder. The strong
current soon carried the obstruction away.
The real estate records show that during
the week there have been 80 transactions,
the total considerations aggregating over
$50, 600.
Transactions in wheat for the past week
aggregate about 2G00 tons, the lowest price
upon which Was 81 30 per GENITAL and the
highest 81 323 per GENITAL for small lots
Railroad Matters-Henry Willard Rises to
Explain.
PORTLAND, March 25th-The following
special dispatch has just been received here,
and will appear tomorrow morning
new YORK March 25th.
II. W. Scott, editor 0regOnian lou may publish
the following my signature in your paper: All
you have said in the OregoJidr regarding our OBJ
tanning control OF the Northern Pacific IS substan-
italy true For this purpose fund OF Sl2,o00,0Oo
made up in January, OF which the " blind pool
the newspapers have called it, contributed
$S 100000, the remaining 81 600 600 being provided
by loans to the pool. With 500 coo of this
trad If Of
and preferred stock, buying common from % up,
and preferred from 65 up. The outstanding
and preferred stock then $50, coo 000l of
preferred and S3l 100000 Of common, thus making
about $54 90, 900 absolute majority. l had in
addition irrevocable proxies from outside stock TO
insure an absolute majority, but u order to con-
ciliate existing interests | went 10 President
Billings told him frankly what l had done, and
invited him and his friends to come INTO the
combination with their holdings, sell out TO me
at their prices. he dec iuei TO do either.
Thereupon / gave him TO understand that would
have to make up absolute majority against him.
He expressed great anxiety to come 10 q harmoni-
Gus understanding with our interests, ssying,
among other things, that we ought to have an i'm
mediate representation on the Board. At the re-
quest of OF his Directors l prepared and
printed statement of our views as to what the
relations of the two companies should be,
which | viii send you for publication,
and which will show that the statement that we are
trying to prevent the construction OF a Cascade
branch is an absolute falsehoOd. This statement
was submitted to the Northern Pacific Board last
Thursday, and special committee, consisting OF
Potts, Ellis and Garrison was appointed to consider
and make recommendations upon the relations of
the two companies and our representation IN the
Board On Friday last, however, after the adjourn
ment of the full Board meeting, and the departure
OF most of the out-of town membeIs Billings called
the remaining members of the Executive Board
secretly together, and prevailed on them TO pass
resolutions directing the immediate issue of over
sS 00a, 900 of the sock sti in the hands
OF the company the object being of course to main
tain Billings and friend in power, as be and they
grabbed most of the additional issue uader pre-
tended claim growing out OF the organization.
No notice whatever of the proposed issue
was given to the other Directors three
of whom, including Ellis and Built, the
two Directors representing the syndicate teaaesa
b. Drexel, Morgan s. Co. and Winsow, LsTisa *
Co., which recently placed $40, 900 Of NcrSsl
Pacific bonds, have already denounced this prue9sS
ing officially as an outrage, which fact l a.teEz
lied to publish. Having been advised by n st eMB
nent counsel that the issue of stock Is ntterlg
illegal aud in direct violation Of th5 trust making
the guilty Directors personally liable, have there
fore instituted suit against them, and this morning
obtained an Injunction in the Superior Court pre-
hbitng the sale, transfer and voting of the stock.
Ny counsel have doubt that the grabbers Eill h
compelled to restore every share to the &C 1qeaS
Billings appropriated to himself 5000 shares IL
his confederates mmy thousands OF shares aaess-
You will receive full particulars of the case ts ma IL
HENRY YIL248sssts-