New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-11-18
RAILROAD INTERESTS.
LEASED TO THE UNION PACIFIC.

LEASED IHE UNlON IANlI ASs
THE OREGON RAILWAY AND NAVIGATION CON-
PANY-A FEw DETAILS TO BE ARRANGED.
The lease of the Oregon Railway and Navigation
Company to the Union Pacific Railway Company was
practically completed at a conference between CON-
mttees Of the two companies held in Boston on aues
day. Elijah Smith. president Of the Oregon Company,
who with Directors Ball aud Mayer went to Boston to
attend the meeting. returned yesterday he SAID
that the lease simply matter for the lawyers
because the terms haG been virtually agreed upon.
A few details of minor Importance were LETT 70 DO
arranged but there no doubt of the final exeou-
ton OF the lease 1t is understood that the minimum
rental Is per cent year on the stock OF the
Oregon Company and that division of earnings In ex-
cess of that amount nay be provided. No definite
action on the latter point taken by the conference
committees although President Adams OF the Union
Pacific offered to agree TO d division if the minimum
rental should be reduced to per cent year. pro
vision was made for the building OF branch hhes "
the Oregon ana Transcontinental Company, whc"
owns the controlling interest in the Oregon COMPANY
Last wear negotiations entered upon looking
to the Joint lease Of the property by the Union anu
Northern Pacific Companies, but tney Ialed y,
although thew have never been utterly abandoned "A
large interest in the Northern Pacific directory mas
been opposed the lease on the ground that wous
DELAY indefinitely the completion OF the Casc>ae
branch The excuse has been that the proposed rem
OF Der cent was too high and possibly joint lease at
per cent might have been made IL the oregon .oin-
pany had consented to make the concession .,
meeting OF the Northern Pacific directors VIII DO
held to-day and it generally expected In wal,
Street Yesterday that the OF the lease sba be
Oregon Company will not reopen the negonatons anu
that the Northern Pacific, if 1t wishes to participate
IN the lease will be obliged to make terms with the
Union Pacific Railway. The position OF the Oregon
Company Is in effect that it's property is now virtually
in the hands of the Union Pacific Company ana that IL
has no right to take any action In regard 70 H.
MRS GREEN'S PROXY FOR ALEXANDER
The contest for the control of the Central Railroad
of Georgia, which has for some time given lie ana
strength to it's stock IS believed to be settled The
Alexander party claim to have secured the proxy Oh
Mrs Hettie Green, whose stock admittedly held the
deciding vote in the contest 1t is understood that
the negotiations transfer 10 the friends OF Gen
eral E. H. Alexander. who is seeking the presidency,
were successfully conducted by III. D. Hoiiins- me
aount nj the stock owned by Mrs Green is supposed
10 he g. 700 shares and that this amour. should he
able decide the question one way or inc othe
how close the struggle is. No information conid oe
obtained az TO the of securing the proxy Tor the
Alexander people, Two years ago was given to the
present management headed by w. G. Raou as presi-
dent for $4,000. The friends OF General Alexander
have charged the Raorl people with undue secrecy III
the companvs management and operations. and they
have also been charged with directing the property In
the interest OF special Georgia ana savannah ner
Der of the present Board of Directors and Is thought
that be win be retained should the Alexander party
prove successful at the stockholders meeting Inc
election takes place on January D.
WHY CHICAGO AND ATLANTIC CUTS RATES.
The announcement of the restoration OF the east
bound passenger tariff received with satisfaction
In railroad circles yesterday The rates were adopted
by the Chicago and Atlantic Railroad yesterday but
President Benedict says that deviation from the
schedule any other road Will promptly be followed p
his line Mr. Benedict contends that his company mas
ONLY following the cuts OF its competitors VINO nave
at last realized that they cannot couhienance Tegul
ties and expect the Chicago and Atlantic TO make as
low rate from the West as is made by any other route
ACCOUNTS OF JERSEY CENTRAL AND READING.
PHILADELPHIA, Nov II (speciaD. - Before Master
George NJ Dallas to-day Messrs. George r. karcher'
r. L. Ashurst and Francis l. Gowen, in behalf OF the
Philadelphia and Reading Railroad Company, ana O. NJ
Williams and r. W. Deforrest in behalf of the NewIersey
Central Railroad appeared to adjust the accounts of the
two corporations with each other. After the accounts
were presented Mr.. Deforres stated that the jersey
Central Company claims and the Philadelphia and Read
ing Company denies that the property to be gwen
up TO corporation the current supplies on
the Philadelphia and Reading road, approxmauhs IN
value 81 900 600, and propcronate amount on the
Jersey Central road. This change was admitted Inc
following also inserted in the account so far as ac
cepted by both parties Balance due the Central Railroad
Of New Jersey on rent account $3951 179 rs; ac-
count of liquidation 81 5s72l2 90 on account OF better
ments S297l AZ total Of ssli13 IL for the two
latter accounts combined, leaving total difference
between the companies in favor of the Central Rail
road of NewJersey of $206676s 81 Mr. Deforrest then
presented additional claims in behalf OF thcJefScy central
against the Reading Company or Its receivers as iooWs
assessed in NewJersey payable under me lease by
the Philadelphia and Reading c35iol2 o. There Is also
large amount of New Jersey local taxes charged against
the Philadelphia and Reading but Mr. De0rcst was ul'
able specify the amount. He stated that all the taxes
were in litigation Taking the account existing between
the Jersey Central and the receivers OF the Reading Com
panv from the the order of court April TO- 1856
directing the receivers the Reading Ia pay 10 the
Jersey Central Company the net earnings OF the latter
road Deforrest stated that the account showed tat
the claimed TO be due the receivers OF the Reading
| Company from the Central 10 August, 1856, was
Sl27520 81. Ofsetng this claims OF the central
Railroad Of New-Jersey Against the receivers foi
1871 $50 TO- The foregoing Mr. DefOrest thought would
cover all the claims OF the Central Company against the
| Reading Company and its receivers.
| MISCELLANEOUS RAILWAY INTELLIGENCE.
| JACKSONVILLE Fla, Nov. II tSpeciaD. As a re-
suit of the establishment of the Clyde Line of steamers
between Jacksonville and York to run In connection
with the Florida Railroad and Navigation Companys road
1t Is announced that the Savannah and Florida and West
ern road has purchased the road now being built In
Georgia and Florida known the East Georgia and Flor
ida Railroad running from Jessup Ca TO Harris Road
in Florida Northern capitalists building the road
competitor OF the Atlantic Coast Line and savannah
Florida Western system. The purchasers Will com
plee the road from Jessup to F0kston Ga, and will
build a branch line to ST. Mays, Ca, opposite Feruan
dina, Fla. The acquisition will cost S5OO,OOO.
road is also TO built from Monticello Tallahassee OF
point In Florida connect with the Savannah