The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-04-20
UNION PACIFIC'S AFFAIRS.
CAPT RICHARD SOMERS HAYES TO
BE ELECTED PRESIDENT
Messrs. Could and Sage win BE Dropped
from the Donrd-Mr. sidney Diiion to Be
Retained n Dircctor-Mr. Clark May
Remain as General Manager.

from the Donrd-Nr. Sidney Dillon to lie
|. Retained n Dircctor-Mr. Clark Mny
Remain General Manager.
President sidney Dillon will be retired at tho
annual election of tho Union Pacific Railway
Company. and unless obstacles present them
selves which do not now appear, Capt. Richard
Somcrs Hayes will be elected in his stead. At
the suggestion OF Gen. Granville NJ Dodge
the Office was offered to Capt Hayes. and he
has consented to assume its duties.
Messrs. jay Gould and Russell Sage will be
dropped from the Board Of Directors and Mr..
Dillon retained only as n concession to his
long services to the company. A suggestion
that the place OF Chairman OF tho Board be
created for him was not favorably considered
by tho people who will represent the con-
trolling interest. There will DO con-
sultation to-day in Boston between Cen
eral Manager and Vice President $. H. II.
Clark. Mr.. Frederick 1. Amos. and Mr.
Bossevain. who represents largo foreign
holdings. 1t is possible that this will result
in IN agreement to continue Mr.. Clark's con-
nection with the company upon condition that
no resigns his position as general manager Of
the Missouri Pacific Halfway, which he is said
to have expressed Willingness to do
combination Of foreign holdings with Amer
lean stockholders who desire n change Of
lave the. .anrrotaton Of Mr. J. Piernont
Morgan. Mr.. Bossevin is understood to have
proxies for about 100000 shares. about one.
of tho Gould party is about 10000 shares. as
ned t as f9 be Hsserq 9 tS a1h they also
Gould nor Mr.. Sage TO th,wart the purposes Of
the adverse PARTY. and Mr.. George Gould snid
last night that his father was entirely satisfied
to leave these gentlemen to wrestle with the
Mr.. Russell Sage snid: II was aware that
there had been talk of offering the Presidency
of the company TO Capt. Hayes, but do not
want to believe that such m insane scheme us
that OF taking from Mr.. Gould voice IN the
carried out: He stood ~ the eomnany
and It will he the. greatest folly to put
it's affairs in other hands ut this time. l
floating debt: and have still the collateral
trust notes that represent my advances. He
has. believe. sold only enough of his notes to
reimburse him for the sterling loan OF $4,000.
me that Il man could be found with courage to
assume the responsibilities that will attach to
tie, Office of President of the Union Pacific
Hallway Company for some years to come"
railroads since no entered the shops OF the
Pennsyl vania Railroad at ALTOONA in order to
learn the rudiments Of tho profession. In 1870
he was appointed ny Gen. Dodge chief on
building. and afterward held n like post
with the International and Great Northern.
He was for II number OF years First
Mr. Gouli's Southwestern system stem In
1888 he was elected President of the st. Paul
and Duluth Railroad Company. " here he re-
manned until November. 1885, when he was
elected to the Office he now holds as Presi;
Company. Cart. Hayes is about 30 years cid
and is regarded as an able railroad man.