St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-22
The Wizard of Wall Street Sc
cures Control Of Union
Pacific.
President Adams Forced Out,
and Sidney Dillon Will Be
President.
Gould Also Effects an Alli-
ance Of West and South
western Roads.
They Will All Be Operated as
His Master Mind Di-
rectS.

NEW YORK, Nov. 21.-Mr. Gould was
asked this morning with reference to
the report that he had got control of the
AtchisOn, Topeka & Santa Fe railroad.
Mr.. Gould said that this report was
erroneous, although he admitted that
he owned considerable portion of
Atchison stock. He said that the Mis-
souli Pacific and the AtchisOn road had
entered into an agreement with refer
ence to the future business policy of the
two roads. They have agreed that
neither one shall build any competing
roads INTO the territory of the other
without the full understanding and
sanction of the other. With reference
TO rates on the transconti-
confidence that the agreement
between the presidents would be re-
newed and strictly maintained within a
short time. Under the new situation
OF things nearly all the roads interested
favor restoration of rates. 1t only
remains for the bankers to call the
presidents together. 1t is authoritively
learned to-day that the meeting of the
principal stockholders of the Union Pa
cIf1c Railway company for reorganiza-
ton of the board of directors will be
held next week, probably not later than
Thursday. 1t is understood that at this
meeting Charles Francis Adams will re-
tire, and he succeeded by Sidney Dill
ion: The new board of directors will
include Russell Sage, Jay Gould, Alex
ander E. Orr and Henry B. Hyde. The
new board intends to appoint some
Young and Active Man
as vice president and general manager,
whose headquarters will be at Omaha.
The person TO be selected for this place
mas not yet been determined upon, but
the endeavor will be made to secure a
young man of abundant railway expert
ence and of the highest capabiity. The
Vanderbilt people now admit that
Gould has got control of the Union Pa
director said: '"rhe board will be re-
organized. John ID. Rockefeller, work
ing with Mr.. Gould. has brought the
change about, and Russell Sage. Jaw
Gould, ID. B. Hyde and Alexander Orr
Will take the places of four
OF the present members. The
resignation of President Adams will
he received and he will probably be
succeeded by Sidney Dillon, who is
now one of the directors. The same au-
thority states that Fred l.. Ames has
agreed to the steps suggested by Messrs.
Rockefeller and Gould. He refused to
speak about the future policy of the
road In regard to the Northwest traffic
agreement. 10 reporter of the Even
ing Post Mr.. Gould this afternoon said /:
II know nothing as to whether or not
MIR. Adams has placed his resignation
in the hands of MIR. Ames. / NAV saw.
however, that Mr.. Adams and MIR. Ames
visited me in my Office yesterday, and
that the former expressed a strong de-
sire to he relieved from the office of
president. He suggested That he should
resign, and that meeting of stock
holders for
Action Upon His Resignation
should be called to take place next
week. presume, if it is true that he
has intrusted his resignation to Mr..
Ames, that this meeting Will be held.
LII is likely, also. that any vacancy oc-
curing III the management of the road
Will be filed at this meeting. MIR. Dill
Ion has been mentioned as the successor
OF Mr.. Adams. 1t is probable that
should Mr.. Dillon be chosen. there
would be elected along with him vice
president who should also act as gen
eral manager, with headquarters at
Omaha. MIR. Dillon's interests would.
OF course. keep him here. where, as
president. he would only have to look
after the finances of the road" To the
question how the reported impending
changes would affect the relations be-
tween his interests and the Union Pa
c!tc, MIR. Gould replied: ''Our rela-
tons, you know, are close now and the
the new arrangements referred 10
would tend to make them closer.''
Adams Declines TO Talk.
Boston, Nov. 21.-President Adams.
Director Ames and others all decline to
say anything about the report of the
proposed transfer of Union Pacific to
the Jay Gould interest. President
Adams says: "You may say that l de-
cline to be interviewed