New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-22
UNION PACIFIC ALL RIGHT.
REPORT OF THE GOVERNMENT DIRECTORS.
CoMPLIMEYTING THE MANAGEMENT AND AID
vIs1XG 4 SETTLEMENT OF TIE
COUNTRY'S CLAIMS.


CoUNTRY's CLAIMS.
! washington. Jan 21.-The annual report Of the
Government Directors Of the Union Pacific Kali
way Company has just been published by the
Secretary of the Interior 1t IS the first report
Of the new board Of Government representatives
, i'm the company: that is, the directors who were
appointed by President Harrison This Is whaO
| they say of tie road and the company
Boston, Dec. H. 1880.
Sir: The Board of Government directors of the
| Union Pacific Railway Company respectfully submit
! the following:
The general condition Of the Union Pacific Railway
! Company ana the financial results Of the year are
very satisfactory During 1he carry months '" G
To- causes which greater or less extent affected
the earnings Of every railroad west OF tine Mississippi.
The latcr months have shown an Increase which VIII
MAKE the result for the whole year somewhat better
nor bc com pee for several months IL IS impossible at
t date Il tnis report to present any exact statements
in regard results, but these VIII be presented IN the
This Board believes that 1t would be entirely super
nuous for 70 enter upon an elaborate arsuneni IN
f,yo. al 4 definite settlement Of the subsidy debt
Of this company To the Government. Inc absolute
necessity Tor such acton mas 1een demon'Iateu 50
bv I ntcd states Railroad Commissioners by Con
nointcd by the Government 10 investigate the Sub
,ct and uy the late President OF the lhlcd 5'al's
/ a waste of time aud effort. 1t Is. them we'll
Established fact that the provision made by existing
law for the eNtingIishnent OF the debt IS entirely
ON Juiy l. 1897 which is the average date of maturity
| ~ thn s,ibsdy bonds. the Government Will hold IA
ciain, ag"inet this company utterl, beyond the
poratlon', power to pay, and utterly beyond the
Of The statutory lien which it holds on portion Of
the road. such being the case tic only Question Io'
/ inr settlement . -
been answered thoroughly and successfully N the biz
/ So -I4li reported unanimously to the House OF
Representative, If the LIN Congress BY the committee
on, 'incihc kailroAd'' ara ,ii,o tepnrtol ,'.nHUf
| committee II the senate of the same Con-
gIcsS This measure. commonly known a. the "oGtn
waite hill." j, based upon TWO general prndplc NAV
1 have been Observed In all recommendation, made ON
/ the subject hy pr"Viou, boards oi Government al
roctor,. These principles are. first, that the settle
! mcnt Of the debt should bee upon ba,, oi greater
security 10 the Government ana which should be
within the ability ~ the company TO meet and, Zee
oud that when the settlement should be made the
present relations OF the Government 10 the current
/ management Of the road should cease. the United
states assuming H. true function. that Of creditor
/ 10 the road. and the road continuing y act a, a
debtor. but without those hamperng influence, that
/ arr now involved hy the Governments quasi partner
/ ship in IFS business management
me Government directors do not hesitate to recon-
mend specifically the passage Of th' bill Represent
vc,taon ~ the subject on the part Of yarou, bodies
30 able and distinguished public officials, We consider
Il the best expression II the general proposition for
/ r-findns the debt that Ia, set been given. and we
believe it, practical workings VIII prove 'all7
.,r.or, 10 Inc oovcrnmcnt and H. the company. Tho
yir.ou, strong urging IL, enactment are APP
parent 20 any one who make, even casual cNauihi
/ In The fir,t place. IL not only gives the United
state, q large amount of additional security for the
d,t lIt In substituting mortgage covering the en-
tire property 81 the company FOR the purely statutory
/ Men, with an is n'crarahl" uncora.ntic, and dii
cutie, held by The Government upon hatmen't t
ap I"I I'D ca5 f' ]" ,i me- g~ e. ' [,e " t.
/ additional security is We Do not Feel called upon 10
- 10 oo,,oo' Int. vhatcycr il is, 1t represents the
l f.s lf i've