The morning call., 1890-11-13
UNION PACIFIC.
Statements Regarding the Rumored Deal
By Gould and Rockefeller.

take the presidency myself. Mr. Adams
has been managing the property after a
fashion which set the business control
wholly at naught, and under his direction
the Union Pacific, more than any other rail-
road in the West, has disturbed and upset
harmony, knocked down rates and forced
the handling Of business without profit
That sort of thing has gone SO far that the
important interests in the company, 1nclud-
ing Sidney Dillon, Fred Ames and other
prominent stockholders, have determined
that his administration must emu. have
become large owner OF the stock during
the recent wholesale decline in its market
value. Purchases Of an important charac-
ter have also been made by the Rockefellers.
Mr.. Dillon, Mr. Ames and other stock
holders are anxious to corporate with us,
indeed have invited US to assume control,
direction and management OF the property,
and We accepted"
A NEW ASSOCIATION.
Mr.. Gould, continuing what seemed very
frank declaration as to his Union Pacific
acquisition plans, said: ''The Union Pa
cific will not hereafter be the dlsturber of
the Western railway peace. The Union
Pacific c-NorthweS.ern combination will be no
longer able to prevent the maintenance Of
harmony among the leading Western rail-
ways" Mr.. Gould added what he had in
view was new association Tor Western
railways. including those OF the Southwest
dIu NOilHHcot, WuiCu WUulu Ut uDuCl IHOIc
effective than had been any other aSsocia-
ton ever in the field. Rates would not be
put up one day to be cut down secretly the
next He intimated that his old idea OF a
railway clearing ns-bouse-practically rail
way tIust-would now be put in operation.
LACKS CONFIRMATION.
The Evening Pcs. says: The story about
the Union Pacific passing into the control
OF Gould not only lacks confirmation, but we
have most positive and unquestionable
proof that the whole story is merely an in
vention. Nevertheless, we have also good
reason for believing majority OF the stock
holders are dissatisfied with the present
management and that move will soon be
made to break up the contract with the
Northwestern.
EThe Herald says that Gould has secured
enough stock in the Union Pacific Railroad
to entit,e hin! to voice in the management
George Gould refused to talk this morning
in regard to the report that his father had
secured control of the Union Pacific.
Russell Sage expressed belief that Gould
had obtained control of the road, and said
that was just what was needed to strai2hten
out the rail- Dad situation.
GoULD's EvAsIvE ANSWERS.
BosToN, Nov. 12.-President Adams of
the Union Pacific. in all interview with the
Associated Press reporter in regard 10 the
statement published this morning that Jay
Gould had secured control OF the Union Pa
cifc, said lie was ignorant OF the alleged
facts in the Gould interview, and greatly
questioned whether Gould ever made the re-
marks attributed to him.
One of the most important instruments
used for etfecting a rally in stock values was
the theory that Jay Gould had acquired
control of the Union Pacific Railway, based
on rumors printed in q morning paper. A
reporter saw Mr.. Gould this afternoon and
he denied the truth of the published story.
Have you or your associates made pur-
chases which give you the control of the
Union Pacific was asked. Il have nothing to
Gould replied. IAN that / ever said to
anybody was that what stocks purchased
paid for" "Will you exert an influence
upon the Union Pacific management or in
any way, directly or indirectly, effect
change at the next election?" Mr.. Gould
am acquainted with some Of the largest
stockholders in the country" he said
might have some influence IL chose
to exert it. There is great dissatisfaction
over the conduct OF many Of the railroads.
There is an uprising which ought to effect
great reforms in the mana cement, for the
roads have enough business TO give them
large profits if they can obtain proper rates.
lii the Southwest we have made progress
toward securing an agreement which Will
establish staple rates. There has been no
conference to-day that / know of on this
subject. The progress reported as made to-
day is probably the result OF previous con-
ferences. The stockholders are aroused and
indignant over the result Of warning rates
The best way to express the situation might
be to say, that If the railroad elections were
to take place now results might be as sur
prsing as were the recent political elec-
tiouS."
DISSATISFIED STOCKHOLDERS.
William Rockefeller, whose name was con-
nected with the fictitious interview, said:
80 far as | am concerned there Is nothing
in the story. l have not seen Gould. and
have no interest in the Union Pacific"
Much was made in Wall street on what was
said to be an evasion of the direct issue as
to the Union Pacitic'S control, when QueS-
tions were asked of Gould. The Union Pa
eifc has long been the subject of specula-
tive rumors. The Vander3its have been
said to be seeking its control in spite
of official denials given by them.
The supposed contest for control between
the Vanderbilt and Gould egions failed to
save the Union Pacific stock from sharing
literally in The late slaughter of values. 1t
is common talk in Wall street that there
will be change in the Union Pacific man.
agement at the next election, next March.
Dissatisfaction is frequently expressed with
the present managers, and many of the
stockholders accept implicitly the allegations
Of railroad rivals that by Its surren-
der to the Chicago and Northwestern
the Union Pacific has contributed the prin-
cipal demoralizing element to the Western
railroad situation. Some Wall-street per-
sons go so far as to say the dissatisfied
stockholders of the Union Pacific are Suffi-
ciently powerful to force the resignation of
Adams as President. As yet there is no
open evidence of an organization for this
purpose.
AGREEMENT TO STRENGTHEN RATES.
Boston, Nov. 12.-The News Bureau
telegraphed Magoun, President of the Atchi-
son, Topeka and Santa Fe, as 10 the reports
of arrangement with the Missouri Pacific to
strengthen the railroad situation, and in
Quiring if any interchange of Directors is
likely, and he replied: '.All the South
western lines have agreed to strengthen
rates, and efforts are now being made to
join all lines west of Chicago and St.Louis-
including Southwestern, Northwestern and
all tranScontinental lines-uD0n a like basis,
namely: A small General Committee to con-
troll rates and introduce the many economies
expected to result from joint or common
agreement at competitive POINTS. No inter-
change of Directors has been suggested or
contemplated.
Kiernan's New York News Agency issues
net earnings for October will show a de-
crease,
IMPORTANT DECISION.
ST. PAUL, Nov. 12.-Judge Vanderburgh
Of the Supreme Court has handed down
decision which settles the question of the
validity OF railroad ticket purchased of a
ticket-brober or scalper. 1t af1ilms the
liability of the railroad company to accept
such ticket when offered by an innocent
purchaser. The decision grows out Of a
suit against the Northern Pacific involving
those points.