The record-union., 1892-02-11
RAILWAY WORLD.

The City Council Of Omaha Declares
War on the Union Pacific.
OMAHA, Feb. l0.-The great Union Pa
cific system received the greatest blow in
its history last night when the City Coun-
ell passed an ordinance declaring for
feited all the franchises granted this com
pany by Omaha, and instructing the City
Attorney to tear up the tracks of the COM
pany on city property. The prelude to
the whole affair was in the following
message from the Mayor:
Il respectfully call your attention to
the action of the Union Pacific Railway
Company with reference to the jobbers,
shippers and wholesale dealers OF Omaha
IN requiring the payment of excessive
charges for switches, also the determined
purpose OF such railway company to vio-
late It's contract for the construction of a
new depot building in the city of Omaha,
and IN every way possible to injure the
city and its business interests. | believe
that the time has now arrived when the
city should assert its right, and TO the ut
most limit of its power endeaYor to bring
this corporation to terms. | suggest and
recommend that the rights and privi-
leges granted to this company by the nu-
merous ordinances be revoked by a re-
peal of said ordinances. [ further rec
Ommend that such legal steps be taken at
the earliest time possible as may be
necessary to enforce and protect the
rights of the city"
One of the greatest legal fights Of the
age will be the result.
EXTENSIVE FINANCIAL ENTERPRISE.
PHILADELPHIA, Feb. lot is an
nounced tonight that arrangements,
which for some time have been in pro-
10 rNla
ing and carrying interests on a more
stable foundation, have been completed.
The primary object was to secure a more
economical management in the coal trade
by avoiding the expensive selling agen-
cies, etc.
A plan has been formed by President
Mcleod, which embraces the most ex-
tenslve financial enterprise yet under
taken in this country. Briefly outlined
it means that the Reading road has ac-
qulred practical control of the Lehigh
Valley Railway, Central Railway of New
Jersey and other lines, and in addition to
the Reading terminal, now constructing
in Philadelphia, will have magnificent
terminals of the Lehigh Valley and Jer-
sey Central in New York harbor
Through the Lehigh Valley, new west
ern extension, there will be provided a
direct route to the lakes at Buffalo, with
spacious terminal there. In the carry
ing on of the coal trade the saving in
commissions, agency, expenses, ETC., is
expected to reach several millions of dol
lars annually.
When it is further known that the con-
troll of the Delaware, Lackawanna and
Western has passed into hands friendly
to the Reading road, the investigating
public will recognize that the new ar
rangement will tend to secure harmony
in the coal trade and save unnecessary
expenses. The Lehigh Valley also is
paying the Erie Sl,250.000 annually for
trackage, which amount will now be a
net gain TO the Lehigh Valley. In addi-
ton to this, vast amount of traffic will
be thrown TO it.
This coup of President McLeod's is
considered one of the greatest in the his
tory of railroad tinanciering, and makes
the Reading as strong u corporation as
there is in the world. The plan is APP
proved by Messrs. Drexel, Welsh and
others.