The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1884-01-10

kES YoRE, jan l-rhs Northern Pscl
&c directors were in SESSION TO-DAY, Tn
following trom Henry Willard Was read:
To the B0Nrl OF Directors OF the Nor,hsrn "a
sihc Railway q mpany
GRsrLIHEN-l nsr-by oilsr my r,ssns
lion AZ president II your board, | Zoe
constrained 10 take this step for ssvers
reasons. One q that ] am suffering iron
nervous prosiTation, which renders me n,
longer capable OF properly discharg'ng mi
official duties, aud MY physicians adVs,
sssOlate abslentinn from all active en-
plcyment rs \ condition OF the recovery o
my health and ny other rsadon Ii thai
In my oSn opinion, no l,I thar
in that OF M perhonal and business friends
the interests OF the olmpsry call Tor ssT
erance otmY connection Win ~, ~ ~ d
reelection that SUCH should be tina minus
result of the esrs OF severe labor and oOu'
sumins anxsty which hara spent in my
ondeavOr TO serve The company conscis u
tiousy aud 10 the best OF my ability, b5,
nv feelings shEu not stAy In tbs Wsy oi
tho welfare Of no at0ck notices | am con.
sllsd BY an abiding confidence that the ~.
ture will completely Vludiosto sll that |
have done. / msr - Don IS my health
permits me, ask iht privilege of sRbaiLtine
to you sum iaary OF sly adm mis- ration
Of the oompany's sifairs. Allow nae to eN
prsss TO you, IN conclusion, my siscers
thsnks for the cordial support aud sppre-
s,atlvs sympai by you have at all times sr-
tended me,
[slsnedl II WILLARD.
The resignation was soSsptsd.
Hossrs. Morgan, Billings, Cheney, Bull
lit, Harris end Belmont we're aPpointed Il
COMMITTEES to CONSIDER the action to be
taken by the boa d, owing 10 the rstir0-
msnt OF Willard as president. Wizards
resignation as dirsc or sss laid On the table.
.,,N. lraz 10 all
special nesting for the election OF a .prssi-
dent The di sctors adopted resolutions
complimentary to Willard, ana voted Sl0,-
600 for the year for his services while presi-
dent OF the company.
WILLARD MAKES Az AsBIGEN2Nr.
New YoRK Jan. 4.-Henry Willard made
an assignment to-day tor the benefit af
creditors to WlliSm Endicott, Jr., anu
Horace Wnite OF New York. He trAnfors
10 them his properly and Ona mansion on
Madison Avenue, with Instructions to dis
pose Of then at public or private sale aud
aEnly the proceeds: hTst--to ths payment
OF the interest GU mortgage Of 500 600
upon mis- property; second-to carry out
any existing contracts TOR The completion
OF the edifics Provision is also made for
the payment of any indie btedness of Willard
! to the Oregon Rsilrosd & Navigation COM
pany. The instrument further recites that
the residue, after the entire iDdeb ,ednels
IL disposed Of shall be turned over to his
wife, Mrs. Fanny Garrison Willard.
TIE NEW paoLs.
CHIcAso, Jan. 4-fhs Cnicsgo, Buring-
ton & Quincy declines TO sntsr tie New
Western railroad alliance on the terms &C.
>,epted by the four other roads. This is q
result OF two days conferences between su
the roads 10 the interest, which closed in
the afternoon. The session, to-day contin-
ned frem 10 &. IA. to up. IN; sill the roads
being represented by their general MANA
gers. The proposition sdvenesd to the. Bur-
hngton was that i. should join the nsw pool
on the came ter@s rs the Northwestern;
but this General Manager Potter. OF tie
Burlington, said be was prepared to abse-
lutsly decline. This emergency had
apparently been guarded sgsiuat
and the Burlington was requested
to state on what terms 1t would negotiate.
A counter proposition was then suggested,
that in order to maintain tho rates NO Ci8-
tinct pools should Ge formed, covering all
com petitive business on the limo of ths
Union Pacific rad AZ far west rs Denver.
Tho Union Pacific and leo four present al
lies, via: the North western, Rock Island,
Milwaukee & 81. Paul and Wabash fogm
ing ops pool aud the Burlington and ita
branches forming second To thia this
Burlington was not prepared TO rs.urn en-
answer and an adjournment Vss taken to
tbs 17th instant, to receive the Burlington's
ultimatum, in case the Burilr etal should |
decide TO negotiate on the terms outlined. !
1t il stated that it's negotiations With the
Union Pacific will necessarily be pro-
longed In visw OF the numerous
points tosched by tho two lines, az dirtc!
ompetitors. AS result of the conference
It IL now deemed that the positive fixed pol |
Icy ofthe Burlington management is against
forming q part OF the new alliance and |
signing the twenty-five years' compact |
In this view there 10 q possibility Of the |
boards of directors of the New York and |
Wabash failing to sanction the entry OF
their respective roads, bat as far as it has
been possible to ascertain, it is not deemed
probable that any of the four roads now in |
the alliance will withdraw. The likelihood
OF the Burlington entering Into any COM
paot with the new alliance, even on the |
proposal tor separate pool, is deemed |
very uncertain rs far as official expression |
goes. The Burlington in the event the
new alliance is maintained, will pursue 4 |
policy independent OF any compact or
pooling arrangements whatever.
REPoRT DENIED.
CHICAGO, Jan. 4.-The st Paul dispatch |
stating that the Illinois Central was the
real hacker OF the Minnesota & Northwest
srn road, which Yesterday was granted
valuable right of way by the city of st.
Paul, and WIS also the hacker OF the Wi
mona, Alma & Northern road as well as of
other roads which connect with the above
two, is denied. The officials of the Illinois
Central this afternoon stated that their road
Rad nothing to do In any sense, with the
roads mentioned and declared 1t not likely |
that any of the roads mentioned in the
They admitted possibility of their being
connected with the Illinois Central in tho |
future.
RIPoRT ABour THE READING.
NEW YORK, Jan, This Posts Philadel-
phia special says that President Gowen, of
the Philadelphia and Reading railroad
lunched with Twombley, Wander
bilt's son.in-lsw, to-day, and rumors are
revived that on his withdrawal from the
general solicitor of the whole Vanderbilt
system with special supervision of the
Reading and New Jersey road. A gentle
man closely allied to Gowan in the Rsad-
Ing company, says that Gowen had re-
peatedly refused to give any hints as to his
future, he believed this to be what he had
decided. He would not, however, assume
as he had arranged to sail for
Europe with his family soon after the an
nuai meeting on the 18th and would not
return until June
UNION PAcIrIo's EARNINGS.
BosToN, Jan. 4-The earnings of the
Union Pacific railroad for the eleven
months ended Novem her S0th were $27, 1884,
10, q decrease of S45l PAP. The expenses
We're $l4 $3.50 ,2s2, en- increase of $242, 1854.
REDUCING RATES.
New YORK, Jan. Am order was pre-
,pul gated by Commissioner Fink authoriz-
ing further reduction of freight rates in
10 lsequence Of recent developments in rate
cutting. TIE changes are as follows; Chi
cago to New York, eighth class, to bass of
20 cents ner 100 mounds: seventh class to %