The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-04-21
THE RAILROADS..
RnmOred Change Of officers Of the Union
Pacific The Reading Trust.

New YORK, April 2O.-The Sun says:
President Sidney Dillon will be retired at
the annual election of the Union Pacific
Railway Company, and. unless obstacles
present themselves which do not now ap-
pear. Captain Richard Somers Hayes will be
elected in his stead. at the suggestion of
General Granville NJ. Dodge, the Office was
offered to him and he has consen ted to as
sume the duties. Gould and Sage will be
dropped from the board of directors and
Dillon retained only as a concession to bis
long service to the company. The sugges-
tion that the place of chairman OF The board
be created for him was not fayorably con-
sdered by the people who will represent
the controlling interest
There was consultation to-day in Bos-
ton between the general manager aud Vice.
President Clarke. Frederick L.. Ames and
Roosevain, who represents large foreign
holdings, and 1t is possible that this will
result IN an agreement to continue Clarke's
connection with the company under the
condition that he resign his position as
general manager of the Missouri Pacific
Railroad, which he Is said to have ex-
pressed his willingness to do. These
changes will be brought about by a CON-
binatioD Of foreign holdings with the Amer
ican stockholders, who desire a change in
the management. and the movement is said
TO have the appreciation OF j. Pierpont
Morgan. Roosevain is understood to have
proxies for about 200, 600 shares-about one
third of the capital stock. The stock inter-
est Of the Gould party Is about 10000 shares.
as nearly as can be ascertained, and they
also hold about Sc. 600. coo in collateral trust
notes.
There will be no effort made by Gould or
Sage 10 thwaTt the purpose of the adverse
party. and George Gould said last night
that his father was entirely satisfied TO leave
these gentlemen 10 wrestle with the prob
lem. Sage said: :" i was aware that there
had been talk of Offering the presidency Of
the company to Hayes but do not want to
believe that such an insane scheme as that
of taking from Gould q voice in the manage
ment of the company will really be carried
| out. He stood by the company when il was
| In financial straits, and it will be the great
| cot folly to put its affairs in other hands at
| this time. joined him in advancing money
| to par off the floating debt, and l have still
collateral trust notes that represent my ad-
vances. He has, / believe, sold only
| enough of his notes to reimburse him for
the sterling loan of 100000. which he
The announcement that Captain r. s.
Hayes bad consented to accept the presi-
| dency OF the Union Pacific Railroad COM
| pany having cleared up the mystery as to
that of1iee5 Wall street has set itself to
conjectures as TO who will take the place
| event OF his retirement. His friends here
| do not believe that he would consent TO give
| up his position with the Missouri Pacific.
The Reading Trust.
ALBANY, April 20-The supplemental
report OF the special Senate committee to
investigate the so-called Trust" formed
by combination Of the Reading, Lehigh
Valley and Jersey Central railroads says I:
"The combination is contrary to public
| policy, as 1t places In the hands of q cor
porate combination the power of regulating
or advancing the price ON one Of the chief
necessaries Of life 10 an extent deemed in
advisable" Tie committee Is not prepared
at this time TO recommend any additional
legislation because of the lateness OF the
session, nor is il deemed necessary. as 1t is
believed the Executive Department may.
through the Attorney General. successfully
institute the proper legal proceedings under
the existing laws against offending corpora
tions should such proceedings become neces-
sary because Of any advance Ia the price
| cf coal.