The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-11-29
SITTING ON Mr.. ADAMS
His Farewell ADDRESS Stirs Up a Hor-
nets Nest.
JAY GOULD IS VERY ANGRY
Union Pacific Directors saw Adams
Conducted the Road for His
Own Private Cain-What
They Say.

NEw YORK. Nov Sit is evident The
Gould-Sage party did not enjoy the fare
well address Of President Adams. Sage
In an interview to-day said; "The tenor
OF Adams address was most uncalled
for. There had been no public criticism
OF his management by any directors, not
wlths,anding the fact that he was run
ming the road to rum. Mr.. Adams says
IN his address that be had been president
Tor seven years, and during that time the
action ot the directors was unanimous.
That is simply saying that Adams is re-
sponsible for the Union Pacific condition.
He should explain how il comes the pay
roll increased 400 names in nine months,
aud what personal interest he had in the
Kansas smelling works, in favor of which
discrimination was made in rates forship-
ping bullion, and a half dozen other mat
ters."
Tomorrow the Tribune will print an in
terview with Jay Gould, in which he says
eN-President Adams Of the Union Pacific,
is a theorist who conducted many Of the
affairs Of the Union Pacific without the
knowledge Of The directors. Gould said
be learned when last IN Kansas City that
Adams personally owned control Of the
stock yards there, and when the railroad
was carrying in their live stock at the real
cost OF transportation, the stock yards
earned si,nO,0oO the past year. Such ac-
tion as this, Gould said, would never be
permitted under the new management.
He believes the Burlington and Rock
Island will both come 10 the plan for Sc
curing better results from the western
railway business. No further changes, he
said. were TO be made in the Union Pa
cific.
Mr.. Gould further said in part: "The
Union Pacific has earnings Of si0,000.0o0a
year, and its terminals are estimated
by congress commission To be worth at
least slS,G0,Ooo. should not have gone
into the management again II | had not
known we had something 10 bank on. Ad-
ans statement about harmony during
his administration is not wholly correct.
The fact is the directors really knew very
little about what the president was doing.
There is piece % road out in Utah
graded and ready for rails. and although
il is $50 miles long. the directors knew
nothing about il. There is another piece
Slghty miles long in southern Kansas, on
which believe the rails are laid, which
does not connect anywhere with the
Union Pacific system, and the directors
were surprised 10 know the company was
building II.
These extensions and the purchase Of
the Oregon Railway 4 Navigation, which
think was a wise one, created a consid-
cradle floating debt, but IL can easily be
handled. The addition of 1000 names 10
the pay roll is a mystery have not yet
bad explained. The change in the man.
agement Of the Union Pacific means
harmony among the western railways
and the formation Of strong association
on about the has is suggested by Chair
man Walker, aud instead Of the great
paraphernalia Of agents and solicitors the
association will have central agencies in
the large cities and freight can be rated
under the direct orders of a committee
chosen by the association"
A meeting Of the western railroad Of
! fcers will be held very soon. probably
next week. but the certainty that such an
association will be formed has already
had good effects.
In regard to the general financial situa-
ton. Gould reiterated the assertion that
the most serious trouble was passed. The
result is in stocks, sugar. whiskey. lead
and things Of that kind produced much OF
the trouble. and IN his opinion the public
lost money by them, and consequently
lost confidence In everything in Wall
street. These stocks had some merit, but
the companies organized in the wrong
| way.