New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-22
JAY GOULD'S PLANS.
HAS HE SECURED CONTROL OF THE UNION
PACIFIC?

HE HAS BEEN BUYING STOCK HEAVILY AND r.
is BELIEVED rHAr PRESIDENT ADAMS MUST
RETIRE SIDNEY DILLON. HIS RE-
PORTED SUCCESSOR, DOES NOT
DENY THE RUMoRs OF THE
PROPOSED CHANGES.
Tremendous revolutions are believed In wsU
Street to be impending in the control oil sever9
important Weste.-. railway properties. AZ
sequel it is expected that such union OF in-
terests will be reached that q new plan for the
regulation of rates can be carried out which VIII
prevent the slaughter of net earnings that has
attended the traffic Of 1890. Jay Gould ID gen
orally conceded to be the man who has largely
produced these results, and to his influence 10
ascribed considerable part Of the restoration OF
confidence in values There Is believed to hsve
been change of ownership in several properties
that will remove the obstacles that have prevented
a renewal Of the Interstate Railway ASSOCIATION
The most sensational change talked about 10
that in the Union Pacific Railroad. Charles
Francis Adams will retire from the presidency
and Important new interests will be In control
There has been steady pressure for his retire
ment for months past The annual meeting oi
Union Pacific stockholders will not be held until
next March, but at an earlier date change In
the presidency of the company will probably DO
effected. Mr. Adams and Frederick L. Ames, OF
Roston. a prominent stakeholder of the company
have been in New-York in the last few days con-
siderng the situation. Both men called on Mr.
Gould on Thursday, and the result OF the confer
once il said to be that Mr. Ames has in his pockee
the resignation in blank of the present CHIEF
executive of Union Pacific. His successor will
doubtless be Sidney Dillon, formerly president
and a close associate of Mr.. Gould in many Of his
schemes and enterprises.
Russell Sage. Alexander f. Orr and Henry b
Hyde are mentioned as among those who will dis
place the directors who will follow Mr.. Adams
ont Of the board. There is some doubt about
Mr. HYDE as a candidate. Mr.. Orr is understood
bv the Street to represent the Standard Oil in
terests. which are now believed to be working
hard in connection with Mr.. Gould for the re-
habiIitation of railroad properties. 1t is sus-
pected that Mr.. Dillon will not be permanently
the president Of the company, as he does not seek
the place and would prefer, when the change
of management is completed, to transfer the
duties to a younger railroad man. 1t is, how.
ever, suggested that Mr.. Dillon might assume
control. as chairman of the board, OF the financ-
ing of the corporation with headquarters in this
city, while the operating departments might Dc
put under presidents care. Among the efiiciene
lieutenants of Mr.. Gould is mentioned the name
of S. II. II. Clark formerly connected with tho
Union Pacific and now the general manager of tho
Missouri Pacific system.
The return of Mr. Gould to the control Of the
Union Pacific is not certain as is the retirement
Of Mr.. Adams. None the less is the revolution
left complete. The two men have been hostile
for years and passionate expressions Of opinion
orc1 Tho n1fo vopav yUaQ on m
that even meeting outside Of board of directors
surprised the Street The recent hostility de-
veoped toward Mr.. Adams by the Union Pacific
stockholders has been the outcome Of the traffic
alliance made over year ago between the Union
Pacific and the Chicago and Northwestern, which
disrupted the Presidents Agreement" The con-
troverses that followed changed the opinions OF
many stockholders as to the ability Of Mr. Adams
as a railroad manager.
The contemplated change in Union Pacific 10
believed by Wall Street TO be only part of the de-
veopment of an alliance between the Gould,
Vanderbilt, Rockefeller and Huntington capital.
The modification of the Union Pacifc-Northwest-
ern contract so as to admit into its provisions all
the rivals OF the Northwestern except the Chicago,
Burlington and Quincy, could hardly have been
accomplished without the consent of the Wander
bits. The recent change in Pacific Mail, by which
d.
feet, the acJuiescence OF c. p. Huntington.
The way would now be clear for the harmonious
operation of the transcontinenta lines except
for the attitude of the Northern Pa
cifc. The Importance of the Rockefeller
as members of the happy family can be recog-
nized While they refuse to discuss the question,
it is understood in the Street. that they virtually
dominate Northern Pacific since the liquidatons
growing out of the embarrassment Of the North
American Company. In the circumstances the
Standard magnates are expected to prevent inc
Northern Pacific from being an obstacle ln tie way
of transcontnental harmony. Henry Wizard "
now on his way from Europe but his re!atlohs
with the Standard interests are too well known
TO Justify any idea that he would be seven crtlG
of transcontinental arrangements. The reported
heavy purchases of Northern Pacific stocks Dy
the Rockefellers can hardly be said to carry
change of control, as the cOmpanys present. Doaru
holds for three years and the Standard interest
is fully represented An increase in power, how.
ever, Is possible since the crash in Wall Streeb
values and the forced liquidation OF numerous
The position of the Atchison, Topeka and Santa
Fe Road is outside of doubt. IL made an agree
ment with the Missouri Pacific some weeks ag9
by which rates were to he maintained ana new
extensions limited. Mr.. Gould is said TO have
control of this property, but II Is not necessary
to believe this to recognize the wlihngness " .no
Atchison interests TO cooperate III any plan LOT
closer union of interests which Will prevent uhr
necessary wars in freight rates. .
1t may be expected that tie raaicaI cnaness AZ
railway managements accomplished, or in shap3
TO be accomplished, will lead to a new agreement
for the preservation of rates through the country;
In NAV be perfected without an assembage q
railway presidents in this city similar to th&s
held at j. Pierpont Morgan's house, in January.
1880. when railroad presidents were taken to task
by their bankers. Tie forms Of associations now
exist at the West. and general conference has
been called for a Chicago meeting early next
Sidney Dillon was seen last evening at his
home. at No. % West Fifty-seventh-st; lie
talked freely Of the reported Union Pacific zeal.
and seemed decidedly hopeful as to the future OF
the transcontincntal lines. lie admitted that Jay
Gould had acquired large interest in Union Pa
cifc stock, probably enough, he added. to give MI
Gould control.
Mr.. Dillon declined to discuss what changes
were likely to take place in the en- managemems anems
changes would be made and that Charles Francis
Adams would retire from the presidency.
.As rumor has seen fit to name me for the
presidcncy. can scarcely speak OF that matter
With propriety," said Mr.. Dillon. can say