The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-03-11

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senting the ownership Of this addi-
tional mileage might be deposited in
the treasury, and If 1T maturity our
loan company was unable to raise
the necessary money to pay the gov
ernment off, it must take the conse-
quences. The government GOULD sell
out the securities representing the
whole Union Pacific system to the
highest bidder. In oil human prOOa-
bility no loss would be incurred while
an estimable benefit would have
been conferred on the community
which that system served. Such 1t
seems to me would yet be the true
business policy for the government to
pursue with this company. Congress
might impose any restrictions with
regard to the construction of aux
Hilary lines. It might insist
upon their securities of every
description being deposited in
the treasury, out for dozen years to
come before the Pacific loans mature
the people In the States and Terri
tories beyond the Missouri and among
the mountains, would have the ad-
vantage of those lines and thus what
is now q barren sinking fund, useful
to no one would be converted into
vhat seems to me the most beneficial
system of improvement which could
IS devised. This plan, undoubtedly.
CONGRESS has fully considered and set
asldea as impraoticable, l therefore do
not urge il. merely submit 1t as
the original scheme of the directors Of
Union Pacifi Railroad Company and
it seems to to-day from every con-
ceivable point of view it is wise
scheme and more financially sound
than any other which has been sug-
Qested. Meanwhile 1t only remains
for the Union Pacific to accept such
terms as are imposed on it. When
the Thurman bill passed the govern
ment practically took control of this
matter out of the comrany's hands.
The plan it's representatives had de-
vised for meeting the government
obligations at maturity was then set
aside and another, devised by con-
grees, substituted for it. The sinking
fund plan was substituted for the
auxiliary railroad system plan.
Since then the attitude of the COM
pany has been an expectant one. 1t
was waiting to see what rule
congress in lIs wisdom shall impose
and when that rule ls imposed will
live up to it. If upon fair trial the
burden exceeds the company's
strength the directors do not doubt
that in the interests of all concerned
congress will modify 1t. This, there
fore. is the view which the directors
now take of the senate judiciary bill
in the shape in which
understand m it has finally assumed.
The company is willing to accept
it and to Loyalty live up to it TO
the best of its ability. Meanwhile 1t
ia not responsible for it and II as
hope will not be the case the burden
shali be found to exceed its strength
It will be simply for Congress to say
whether II proposes to take the prop
erty or to modify the act.
There Is one other matter to which
I wish to refer, upon which much
stress has been laid in the discussion
over the different measures proposed.
It il q matter of some delicacy but 1T
seems to me important, and in such
case do not see that anything is
gained by not speaking out frankly,
or. If need be, bl1ntty. I have seen
it stated not only IN papers but In Ge-
bates in Congress that practically
the Union Pacific was still! managed
by Mi. Gould aud that [ had been put
forWard BY him % . 6gurehead In
order to allay popular feeling and OBJ
tain terms more favorable than would
otherwise be given. In justice to Mr..
Gould. as well as to myself, / wish to
state this Is IN no degree the case. l
was not Mr.. Gould's choice for the
position now hold. Moreover since
the 18th of June last, when I became
president of the Union Pacific Rail-
road Company, I wish to be held
solely responsible for whatever has
been done in the management OF that
company. In the conduct OF its al
fairs Mr.. Gould has bsen consulted
a. other directors have been consulted,
neither more nor less. Generally his
views and my own have cOincided.
Where they have not cOincided be
has invariably acquiesced In
mv concluslols, properly taking
ground that "a the responsibility for
the results rested on me 1t was
for me to finally decide what course
should be pursued. It is perhaps
we'll it should oe publicly understood
that the course IN this respect wnicn
has been pursued heretofore, Will
continue to be pursued 80 long as
remain - the President OF the COM
nanv. What is done will be done,
because after full discussion with the
1 think it Is the best ana
wisest thing to be done. If at any
time a policy is imposed upon me by
either any single director or q ma
iority of directors which does not
seem to me to be right, shall forth
with make way as President for
some one else more in sympathy
with that rolicy than I. Meanwhile
till I do 80, assume In advance me
full responsibility, If need be, TO tne
exclusion of every one else, for what
ever have done.
Truly yours,
oAA"DA' : President.
Grant Not 90 Ill ~ Represented.
NEW YoRK, Mach 6.-The Medical
Record will say tomorrow: In view
of the acknowledgements in General
Grapt's condition, the Records bulle-
tin two weeks ago, so largely quoted
by the press of the country, requires
some explanation. 1t is fair to state
that the facts at the time presenttd d
bv the Medical Record were founded
on the best authority, that OF Dr.
Fordyce Barker, the attending ply
:. 2a IA Dan Grant and this eXplan.