New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-08
RAILROAD INTERESTS.
UNION PACIFIC AFFAIRS.
INTEREST IN THE APPROAcIuNG ANNUAL ELEc-
TION.

INTEREST IN THE APPROACHING ANNUAL ELEc-
TION.
Attention was called yesterday to the coincidence
IN the arrival OF j. pierpont Morgan In London and
the heavy buying of Union Pacific for the London
account That tn, was more than coincidence
seemed probable. and the action OF the stock IN the
market has gone far to bear out The Trlbune's an
nounCemens that there would be a change In the
Union Pacifc's management ut the approaching annual
election Sidney Dillon and the Gould interests re-
firing to make room for the Vanderbilt and Drexel
Morgan interests with Frederick L. Ames In the pres
Gency. Rumors emanatlng from Boston In the last
few days have named Marvin Iughitt. president Of
the Chicago and Northwestern. as Mr. Dillon's sue
cessOr but there * little basis for this report Mr.
Dillon is at present confined TO his house by Illness
The dissatisfaction Of Union Pacific security holders
Is largely to be attributed to the fact that S. H. H.
Clark who Is general OF the system. Is also
general manager Of the Missouri Pacific, which Is q
competing line. Mr. Clark stands close to Mr. Gouid,
so far as the executive control Of the Gould roads Is
concerned, and he almost invariably accompanies Mr.
Gould on his trips. This condition OF affairs has
inspired the belief the part of large portion OF
tAe security holders that change OF management is to
say the least desirable. The strength OF the oppO-
sion has net, however, clearly developed The
transfer books Of the company closed on Wednesday,
and the buying Of the stock for use at the annual
election, was heavy up TO the last hour. That the
London buyng due TO Mr.. Morgan's lnhuencc
Is conjectured In this city Drexel, Morgan g. Co.
were large buyers. and the same interests were re-
ported purchasers I'm the Boston market.
Union Pacific officials said 10 have admitted
Yesterday that there concerted movement on
the part OF foreign stockholders to secure changes In
The engagement OF the property II was pointed ont
that at the end Of 1891 Europe held about $4,000
shares out OF total Of Cos 900 shares, that, with
a combination OF European holders, comparatively
moderate amount Of American holdings would be re-
qured TO secure a majority.
The following statement from reputed good authority
was given out yesterday
Tho movement In Union Pacific Is Intended 70
place the property directly In the control OF its own
stockholders. The foreign holders and some OF the
Boston people have taken the initiative In seeking
change I'm the management. II IS very plain u them
that Union Pacific Is being neglected. 1t stands u
reason that with the president In poor health, ana
with the general manager dividing bis time with
Missouri Pacific a change can be mao" to advantage
There is feeling among some OF the largest foreign
holders that Mr.. Gould IS responsible for the manage
| mcnt and that he Is not the companys best friend
| II is believed abroad that Mr. Gould's plans were
| thwarted by the syndicate which TOOK the Union
pachc notes, and that Mr.. Gould sold out his hold
ngs OF the notes, causing the depression III them foi
! long a timp'