St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-23
UNION PACIFIC CHANGES.
Probable Retirement of Gould From
the DirectOrship and Clark From
General Management.
Efforts to Divert the Texas Cattle
Trade From Chicago and st.
Louis to Cincinnati.
Western Roads Figuring the Amount of
Emigrant Traffic to Come to Them
This Season.
An OrtOnville Enterprise-Strength of Omaha
Bridges-Electric Brake Test-Items
Personal and General.
Proposed Union Pacific Changes.

Proposed Union Pacific Changes.
| Special to the Globe
BosToN. March 22.-At the annual meet
ing of the Union Pacific railway company to
be held on Wednesday, Mr.. Gould's place on
the board of directors will be taken by a Mr..
Cook of New York, who has been closely
identified with him in many interests. AS
regards other changes to be made it is now
known that there will be but two, one, Mr..
Sage, who will also be succeeded
! by New York man, the other,
election of Mr.. Galloway as successor of Mr..
Clark, change which was understood would
naturally occur when Mr.. Clark retired from
the position of general manager. President
Adams, who has now been carefully over the
accounts of the company for 1884, says that
they show the earnings to be above all
charges and government requirements to
have been in excess of per cent. on capital
stock. The preliminary statement of the
business of 1884 to be presented to the
stockholders at the meeting is completed,
| The retirement of Gould from the direc-
tors of the Union Pacific is likely to cause a
| break in the stock Of the road. At present
| there appears to be a fair bear point on
| Union Pacific. as if it breaks the contract
with Pacific mail it expects quite a fight on
! through rates. Some say the Union Pacific
is doomed, but decline to enter into elaborate
particulars. Stockmen say they like to see
| the stock sell down on short sales. The Union
| Pacitic's contract with the Pacific Mail
is one entered into between the former COM
panY and the Pacific Mail Steamship COM
pany, by which the roads pay the Pacific Mail
| company S95, 900 per month as bonus to it
| for the maintenance of certain rates on Cal
| lfornia business. A similar contract, al
| though giving higher subsidy, was broken
| by the Union Pacific several years ago, but
| the action of the Pacific Mail company soon
brought renewal OF the agreement with the
| present monthly payments. 1t was then pro-
! vided that the contract should not terminate
except at six months notice. 1t is not yet
known whether the Pacific railroad proposes
to give six months notice or to break the
contract peremptorily. 1t is known,
however, that the Pacific Mail management
would not feel at all depressed at receiving
notice from the Union Pacific company as
| the matter has been under consideration for
some time. Officers of the Pacific Mail say
| that the intended notice would be cheerfully
waived if the Pacific roads wished the present
| arrangement to cease.
| If action is taken by the Union Pacific, it
probably goes out of differences between the
Transcontinental roads. There would, of
course, be no object in paying a subsidy to
Pacific Mail to maintain rates if a conflict
between the roads themselves reduced rates
to low figures. Something of this kind is in
progress as a result of rates made by the
Sunset route during the last sixty days. OF
| course the whole thing may be matter of
bluff, intended to show what may be ex-
pected in the matter of rates with Pacific
Mail bidding for business.