The morning call., 1890-05-28
THE RAILROADS.
Proposed Extension Of the Union Pacific
System In the Northwest.

PORTLAND. May 81. - Charles Francis
Adams, w. II. Holcomb, c. ]. Smith and
others of the Union Pacific Railroad Com
pany arrived in this city this morning from
their trip through Washington and Idaho
as well as Eastern Oregon, and since then
have been at Mullen and Lewiston, Idaho.
They spent several days at the Sound, and
decided that road from Portland to that
country must be built at once Mr.. Adams
was very faYorably impressed with the
situation over there aud Will not rest till
operations have been begun on the con-
structiOn OF line. 1t is not thought that
specific terminus will be established any
where on Puget Sound, but the road will
branch out from the main line running
from this city, which is to be the only
western terminus of the company. The
roads now being operated are reported III
splendid condition and business excellent.
Mr.. Adams leaves for the East to-day.
Certain parties here are in receipt # mail
advlces from Kobe, japan, to the effect that
FRANK y ptOn, who is interested with the
Union Pacific in the Portland and Japan
line, Is opposed to Portland as a terminal
on account of the Columbia River Bar and
the long haul inland via the river. Ii the
source from which the news originated can
be considered authentic, the reports Origi-
mating In San Francisco to the effect that
Portland would not secure the Japan line
can be considered something more than
mere rumor. The letter states the belief
that Upton fayors the Union Pacific ter
mlnal on the sound upon its completion,
CHICAGO. May PA telegram was re-
ceived by the Atchison people to-day from
New ! ORR saying that Gould declares that
the Missouri Pacific will Join with the other
Western lines in advancing rates.
j. +. Goddard, who has Just resigned the
Vlce-Presidency of the Atchisou, has been
offered the Craftsmanship OF the Trunk-line
Passenger Association.
George b. Harris has been elected Second
Nice-Presldent of the Burlington in place
of ii. b. Stone, resigned. He will also act
as General Manager on the lines in Illinois
and Iowa In place OF E. p. Ripley, re-
signed.
DENVER, May 27.-The fourth animal
meeting of the stockholders Of the Denver
and Rio Grande Railroad Company was
held here at noon at the office of the Presi-
dent, ID. III. Moffatt. Eighty per cent of
the stock was represented and the meeting
was harmonious: The old Board of d.
rectors was reelected, as follows: Messrs.
George Coppell. Adolph Engler, Richard
I. Wilson, Charles NJ. Dacosta and Joseph
+: Busk, New York City; John L0wder
Welsh and Edmund Smith, Philadel-
pha' David IL. MOfTatt. and Walter
fiscal year the gross earnings were
SS,O45,6o3 81, an increase of $377.949 So over
last year; operating expenses, S4714l93 81
a decrease of $500, ass AZ over last year; net
earnings, S.. 49,, 41O 10, an increase of $685.
43l 80 over last year. In presenting the
pell made few remarks touching
on the condition and general pros
perity of the company. The re-
port was distributed to the stockholders
The bylaws of the company were amended,
changing the time of the annual meeting
from tue last Tuesday in May to the third
Tuesday in October. The building of the
Villa Grove line was authorized. The sur
vey is completed and contracts will be let
in few days. The Board of Directors will
meet IN New \ ork June 9TH, when it will
organize and elect President and other
officers.
NEW YORK, May 27.-The following is
sent out by Dow, Jones 81 Co.'S Financial
News Agency There will be no contest in
the Pacific Mail election tomorrow. The
following ticket for Directors has been
agreed upon by all the parties interested:
c. T. Huntington, l. F. Gates, Henry Hart
Edward Lauterbach. Calvin 5. Brice, Samuel
Thomas. W. II. Payne, J. b. Houston and
one other still to be named. The ticket will
represent the ownership of over 81 OO0 shares
of stock. The Goulds viii retire, although
Houston has urged, as have others, that
George Gould remain. Gould insists upon
retiring.
Among the many rumors started concern
lhB inc L dcluC Mail is Tie one THIS alter
noon by the Commercial Advertiser to the
effect that new deal, unknown to the
street In general, has been made by Pacific
Mail with certain Canadian Pacific and
Great Northwestern interests. Messrs
Thomas and Brice, who are leaders in the
two last-named enterprises, have secured
an interest in Pacific Mail. The object of
the Canadian Pacific interest is to prevent
rate-cutting between the freight schedules
OF their steamers and Pacific Mail. Accord
ing to the Northern Pacific people the move
is the final resort of the Canadian Pacific
people to prevent the establishment of Pa
cltic Mail service from Tacoma.
Inc Atlantic and Pacific stockholders
elected the following Directors: George G.
MaGN3gn, J. j. McCoom, B. P. Cheney, J.
Alden Marvel, Thomas Barring, Cecil Bar
ring. William Libbey, E. II. Abbott, Sam
uel Hays, d. ID. Springer. The following
retired from the board: Walter L. Frost,
Jesse Seligman, Edward Ii. Pardee, John
b. Kerr. Bryce Gray, William F. Buckley.
Application has been made at the Stock
Exchange to list for the Atehson, Topeka
and Santa Fe S27, 0o0, 900 additional stock
and for the Oregon Railway aud Naviga-
tion Company 81, 1874, 600 additional collateral
trust per cent bonds.
The. Sun says concerning the Pacific
Mail Directory ticket: Huntington and
Gates represent the Southern Pacific,
Houston, Hart and Lauterbach the
Pacific Mail. Brice, Thomas, Payne
and McGhee are supposed to have in view
the making of an alliance with the Great
Northern system, and also with the Cana-
dian Pacific. An alliance with the Oregon
Improvement Company has been sug-
gested. The service will be extended, aud
the alliances increased.
OLYMPIA. May 27.-The Union Pacific
has placed seven steamers. a good service
line on Puget Sound, between Victoria and
Olympia.