New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-21
RAILROAD INTERESTS.
TO BE PRESIDENT OF UNION PACIFIC.
CAPTAIN RICHARD soMERs HAYES MAY DE
CHOsrN-THE GOULD INTERESTS TO RETIRE

CAPTAIN RICHARD soMERs HAYES MAY DE
CHOsEN-THE GOULD INTERESTS TO RETIRE.
The Tribune several weeks ago announced thnt
change in the management of the Union Pacific KALI
way was contemplated mt the annual election soon to
be held I'm Bost.n. IT was stated that the foreign
stockholacr, had combined TO retire the Gould men,
bers Of the board 81 and choose new presl
place Of sidney Dillon, whose advanced years
have made him willing To surrender the response
biy. II was originally proposed to make Frederick
l.. Ames. OF Boston, the successor. OF Mr. Dloh' D"O
Mr.. declined take the place 1t is nov under
stood that Clptain Richard somcrs Hayes president
OF the St. Paul and Duluth and Of the New DIRK ana
Northern railroads, will be elected president OF the
Mon Pacific. This movement was Initiated by INC
foreign stockholders and II Is believed that IL mas o
support OF the holdings represented by DrcNel Morgan
& Go. The representative Of the foreign interests
now in th, city /, Mr. H0sscvain Of Blake, BosSe-
vain Co.. OF Amsterdam, who are represented mere Nv
the stock Exchange firm Of Blake Bros. Il co. Inc
programme ctTempatcs The retirement from the Union
Pacific directory Of JAY Gould and Russell sage ME-
Dillon t. be kept member III c0hslucrauoh vi '''
long Identification with The affairs OF the company
When these changes were first brolched they ap'
peared to be radical in the eyes OF Freher'cK L.
Ames and Granville NJ. Dodge two prominent directors
| These men urged the desirabtty Of retiinhS inc
services OF H. II. Clark, general manager ana oil
keeping Mr. Gould the board. 1t is stated on goa
authority that their objections were ovcTuied by he
foreign stockholders, vino Insisted TINT Mr. BolS-eVA
should carry ont the intentions OF the proxy power
given 10 him. and effect entire elimination OF the
Could element from the company. That the plan VIII
be carried but was admitted yesterday by welin-
formc persons because the situation Is conceded to
be controlled by the European stockholders.
The proposed changes acqulcsced In by Mr.
Gould George J. Gould says that his father Is
satisfied to transfer the responsibility of managing the
affairs of the Union Pacific to any one who Is "lliS
TO accept n. Russell sage does not however accep
the situation with the same cquanbity, ana he de-
clares that It is insanity" to dop Mr.. Gould from
the hoard before the liquidation Of the collateral trust
notes issued meet the floating debt last summer IS
completed. Mr. sage praised Mr.. Gould for rescuiag
the Union Pacific from bankruptcy In the November
panic Of 1890 and expressed his doubts that the pro
gramme Of Mr.. Rolsscyain and his foreign hackers
could be carried out.
Captain Hayes said yesterday that he had been
asked to accept the place Of president OF the Union
Pacific and that he consented to do so II the on"r
we're rendered to him with unanmtty. IL Is under-
stood that the negotiations with him were cohdnc'eu
by member ~ the firm Of Lee lligginSon q 20, OF
Boston.
The selection Of Capaln HAYES as the successor OF
Mr. Dillon is REGARDED by some Wall street men a.
rocuI,ary irritating to Mr.. Could. The friends ~
Mr. Could cxpr,,, warm regard for Captain Hayes
but nevertheless IT is asserted that his retirement ro
his nor;ner connection with the Gould railway system
was neccsstated by considerable friction between MN
and his superior officer. Captain Hayes worked IN
the shop, OF the Pennsylvania Railroad at Altoona
Penn ~ learn the rudimcntS Of his profession lie
was appointed chief engineer Of the Texas Fa'hc
Railway in i-7O and aftcrward held HE pace
on the international ard Great Northern lie was
frs, vice president OF Mr. G0ulds southwestern system
for a number ~ years and since 1873 he has oeeh
rr..ldeut Of Tie St Paul and Duluth Railroad. In
Io,cuicr i--., he chosen president Oh the Ne"'
York and Northern. . 90 . II, t, ,,,,b
Thcr, f. no d~a that Mr.. Clark VIII remain MIN
tho I ul,u Pacific iu Mr.. could rrtFfs' nhi
sf~c.t y..t.rlty wondered what would b" the eH''
~ thc CHANG, I'm the mana cement 81 the property hu
tar. vr. expressed on some hands tnlt tlele mr'.e
in "A fuinrc development 81 hostility upon NJ "oulu
,.ri n 4, ouly lust 10 say that Young Mr. "oull
Ind ,h, friend, 81 hl, father rcpudlate the susEcSuol
Thai hi- corr. viii Doe hostile.
Boston. April 20 l>peclan-Ihere was conference
I'm BOSTON today between Frederick T. Ame'' "eher''
Manager Clark Of the Union Pacific. and Mr.. houS''-
b,lne who represents In" forNm stockholders Ill tue
rn!on Pacific The proposition 70 remove Mr. 'hrh
and sydney Dillon was discussed, but the conclusion
arrived Al /, Kept scent. Mr. Ames declines TO aay
a,,, for publication II IS well knowa that neither
~ ,outI. mon (. satisfactory To number OF 'he rrEe
hnde-, OF the stock. but jus; what the Ouoon" OF To-
dny', conference will be cannot be learned to night