New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-25

which they knew was coming until II came ana
swamped them. This was not the fault OF Mr..
Adams. he saws he Anticipated a possible car
famine in view of the great wheat crop. ana was
particular TO call the attention of the operating
department 10 the necessity of providing "s'ni'C
the emergency lie assured that the equip
ment was ample and everything had nee" PRIV
vided for. SO. with expenses increasing AZ All
points at an unaccountabe rate. and demonstrated
incapacty 10 handle business when it calic' 'ne
Oregon management seemed without redeeulns
feature. A change was made III OctoDf III ''c
Navigation Company. and the practical man at It's
head was succeeded by West Point graduate
Notwithstanding the discOdragements he had 10
face Mr. Adams thought, and still thinks lie
could have successfully tidcd over the Immediate
danger had not the final blow, starting HUN
Buenos Ayres and CHANGING OF FROM I"ndoh-@
kind of cross-table carom-taken bis feet from
under him.
For several years past the Union Pacihc mas
been al times borrower OF large sums OF money
on It's own securities in London The loans were
effected through the house Of Barng bro'herS'
which had always manifested extreme readiness
TO furnish the accommodation. Bc sure ana ask
for all YOU want" they said when the company
too much than too little and it wouldn't look
well to come twice on the same errand 30, wien
in the early autumn Mr.. Adams began TO realize
that all his expectations We're doomed to dlSap-
pointment and that instead of per cent surplus
on Short Line there would he very close shave
toward deficit, he turned at once to the Earrings
for loan of 81 zoo, 900, which lie confidently be-
lieved would carry him through the year. His
nj cot inn ia bp reD
house was az granted but MesSrs. hldder.
Peabody & Co. said that Mr.. Thomas Barng
was then on the sea his way to NewN DIX ana
the sum asked for WAS quite large, II would Oc
proper to wait his arrival that he might In for
mally consulted At that time nobody in this conn-
try as indeed hardly anybody in London, HAD
the slightest idea that the Barings were in diil-
cultics But this time. instead of repeating the
usual caution TO be sure and ask for enough, Mr..
Barring hcsitatcd over the application, rcmGrklng
to Nice-Presdcnt Lane that IN the existing imam
cial situation, it the policy Of conservatism to
restrict loans rather than extend them. This
was a note of warning from an unexpected quarter
Mr. Adams was now put 10 his trumps 10 raise
81 OO0. 900 from sources nearer home. His trumps
were low cards. and without knowing If. he was
sitting in front of an adversary who held over
him every time There was little money 70 be
had anywhere on the best collateral and the best
he could offer was far from giltciged and was
growing weaker every day. A. This precise
iuncture. by a singular coincidence. Mr. Gould
permitted himself TO be- interviewed. That mode
an end Of the possibility Of borrowing money f1r
Onion Pacific on the credit of a management whose
existence was question %! onl' few days HE
only way in which money could Doe raised was on
the individual credit Of tie directors, and even II
they had been ready - advance IL. Mr. Adams
wa, not willing 10 ask H.. The game VS. up.