The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-11-13
CT. ADAMS MUST GO.
Jay Gould Says he has Got Con-
troll of the Union Pacific.
HE WILL TAKE THE PRESIDENCY.
Most Likely-His Associates in the Deal are
the Roehfellers Sidney Dillon, Fred
Ames and Others-A New Policy.

Especial to THE HERALr-Examiner Dispatch. |
NEW YORK, Nov. 12.--The Times says
Jay Gould has got control of the Union Pa
CHIC railway company, at least that is what
he himself says. Interested with him in
the deal which has led to his acquisition
OF this property-to the re establishment
of his power in it rather-are, according
to his own statement, William and John
ID. Rockefeller. Mr.. Gould said day:
1.-The Union Pacific has come under our
control. Mr.. Charles Francis Adams will
cease to be president and L will probably
take the presidency myself Mr. Adams
has been managing the property after a
fashion which sets business control
wholly at naught, and under his direction
the Union Pacific, more than any other
railroad 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 important interests in the company,
including Sidney Dillon, Fred Ames and
other prominent stockholders, have de-
termlned that his administration must
end. L have become a large owner of
stock during recent wholesale declines in
It's market value. Purchases of an impor-
tant character have also been made by
the Rockefellers, Mr.. Dillon, Mr. Ames
and other old stockholders who are anxious
to cooperate with US and indeed have in
vlted US to ASSUME the control, direction
and management of the property and we
accepted
MIR. Gould, continuing what seemed to be
a very frank declaration as to his Union
Pacific acquisition plans, said: 1.-The Union
Pacific hereafter will not be disturber of
western tailWay peace The Union Pacific.
northwestern combination would be no
longer able to prevent the maintenance of
harmony among the leading western rail
roads,
MIR. Gould added that what he had in
view was a new association for western
railroads, including those of the southwest
and northwest, which would be much more
effective than had been any other associa-
ton ever in the field; rates could not be put
up one day to be cut down secretly the
next. he lntlmated that his old idea of a
railroad clearing house-practically a rail
way trust-would now be put in operation.
Mr.. Gould spent much of the day in Wall
street In consultation with officers of the
Atkinson, Topeka 81 Santa Fe railway He
declared that the Missouri Pacific and At
Gibson railways have reached an agreement
which is satisfactory to both, and which
Will create lasting peace in the southwest
ern territory. There are even intimations
that one of his sons may become an Atchi
son director and that member of the firm
OF kidder, Peabody & Co. may comeinto like
relation in the Atchison directory. Mr..
Gould said that rates would be put up and
kept up, and that the roads Of the west
would earn double the amount of money as
this years figures show. He added he be-
lieyed the arrangement now in view would
have an effect upon the investing public re-
flecting in Wall street quite as cheerfully
as did the Westshore deal of half dozen
years ago.