St. Paul daily globe., 1890-11-27
CAPT. GOULD ON DECK,
President Adams Gracefully
Withdraws From the u.
P. Presidency.
Sidney Dillon Succeeds Him,
and Mr.. Gould Chats With
Reporters.
RumOp Revived That Hill Has
Captured the Pacific
Short Line.
Oregon Improvement Admit
ted to Be in Exceedingly
Bad Shape.

Boston, Mass, Nov. 26.-The meet
Ing of the Union Pacific directors was
called to-day. Shortly after the OPEN
ing of the meeting, President Charles
Francis Adams submitted his resigna-
ton in an address to the meeting. Fol-
lowing MI. Adams address. Directors
+. l.. Ames, +. G. Dexter and Govern
ment Director Bullock made brief ad-
dresses appreciatives of Mr.. Adams
services, and Messrs Ames and Bullock
were appointed committee to draft
appropriate resolutions. The resigna-
tions of Messrs. Charles F. Adams,
John P. Spaulding, James A. Rum
rill and Samuel Carr Jr. were ac-
cepted, and Messrs. Jay Gould, Russell
Sage, ii. B. Hyde and A. E. Orr were
elected directors and took seats at the
board. Sidney Dillon, already director,
was elected president. 1t is understood
that MIR. Orr represents the David
Dow estate and Mr.. Hyde the Equitable
Life Assurance company. which is a
large holder of the company's securi-
ties. The directors elected Messrs.
Gould and Sage to the executive COM
mittee in place of Adams and Rumrill,
Messrs. Hyde and Orr to the financial
committee in place of RumriIl and
Spaulding, and Mr.. Gould to the COM
mittee on connecting roads in place of
Mr.. Adams. In later interview, MIR.
Gould. in reply to a question as to the
significance of his recent active interest
in Union Pacific, said:
There is nothing strange or myS-
terious about it. l knew it very inti-
mately when it was a child, and | have
merely returned to my first love-
When asked as to what his plans
were In regard to Western branches, he
said an effort would be made to make
them earn something. This could be
done by a slight advance in rates. A
make the road pay. He disclaimed all
knowledge of deal with President
Oakes of the Northern Pacific, and
could say nothing about it.
''i think" said Mr.. Gould, "we shall
have good times in the future. The
fact is. it is good time when times are
hard to prophesy good times. There
seems to be an impression that am
mixed up in about everything. judging
from what the papers say, but the news
papers would be surprised if they could
see my books to learn where my invest
ments are. This matter of investment
takes strange turns some times. During
the period when gold was nigh. people
boarded up their gold and put it away
in stockings to provide against finan-
cial crash. The low prices of stocks
has had the effect to draw out this
money, and it Is now being invested in
railroad securities"
Asked in regard to his interest in a
transcOntinental enterprise he said:
There is no truth in the rumOr. l
don't scatter my investments. They
cover very small amount of ground.''
1t was not part of his scheme to OBJ
tain control of the Chicago, Burlington
& Quincy, and the Chicago, Rock Island
& Pacific.
'1f all stories are TO be believed am
reaching out for every important road
in the country. but l am not. l have
confined myself to certain line of pol
icy, and the facts, Shorn of embellish-
ments the public have give them, indi-
cate very clearly what that policy has
BEEN"
The Wanamaker incident was then
referred to.
Il know the papers say" he ex-
plaineo, THAT l went cunning for
Wanamaker, but there is no truth in it.
man as | was said to have cornered
Wanamaker. / have not bought any
Reading stock. l have all L can do to
take care of my own affairs without
squeezing Wanamaker by buying Read
ing"
To question as to changes among
the officials of the traffic and other de- |
partmeuts of the Union Pacific Mr.. |
Gould said no steps had been taken in |
relation TO any removals or appoint |
ments. Cautionlng the reporters to en-
phasize his predictions that the inan- |
cial prospects of the country were bet
ter than ever, he babe them adieu. |
After lunch Mr.. Gould and his party |
took carriages for the New York & |
New England depot and boarded the |
directors car, attached to the lin
tied express for New York,
just before boarding the train Presi- |
dent Dillon was asked as TO his policy,
and said it would be to harmonic ali |
conflicting interests and build up the
road. AS to what changes in officials
might result from the change in the
head of the road. Mr.. Dillon said time
would tell if changes were necessary.
Mr.. Dill0n'S office will be in New York,
but the other offices of the company
will be here.
AnaHfc Drnc ,nrr,rr