Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-02-06

To- keep alive the story that the govern
mcuf will forpa0se on the tnion fgrHtc
railroad II ~ lhc undonbicd WISH on
the minority vi people living in Union Pa-
cihc fcrifDrr Thai thr government should
seize and operntp Zoe road but every
government commission appointed 10 ~
vegtigato the matter. tho government a.
rpctOrs of the Union Iaclnc. ana unaliy
the interstate commerce commission nave
reported ng6iust it The story " puphc
control Of railroads in the United states
is one Of unvarying failure. and the Of
fetal roporfg 900 mo- reason ~ doubt the
same result If the government attempted
To- operate the Union PACING.
Concerning this matter comptroller
Mink makes the following Official state
mcut
Nobody. least Of all the directors Of
the Union Pacific, believes that % VIII
be- possible for the road TO meet us OBJ
legations 30 the government NJ the time
Of the mnturng of the first payment
This has been virtually acknowledged by
the directors mud conceded by the gov
eminent. II rs true that hardly rail-
road in the country Is free from m0rishF-
ed Indebtedness, and it b. not thought
best % be-. Still In this matter Tue IN
rcctOrs wish TO meei the government
fairly. and accordingly q plan of paying
this debt was formulated by the railroad
commissioners in April, lSl2, and SUP
mtted lust before the meeting of this
session of congress- The plan the com
mission approves Is one when provides
for payments into sinking tuhd running
100 years Tie proposition d, lNlr one
ON the whole aud has the advantage OF
small Payments 600 FIRST while further iiu-
proyemcnts are being made in subsidiary
lines
President Harrison. you remember,
recommended q commission 10 arrange
for the financing of the Iaclhc road
debt, and ] believe bill has been IN
troduccd into the senate ON TINS me.
If such e commission is nppOlutd tue
plan adopted would have 60 be Of the
nature OF the report of the commission
ers of last year, SO far as the Union Ia
CiiC rs concerned
There is nothing new in the fact that
the board cannot meet its obligations to
the United States lt is now q matter
Of what concessions may be made. Inc
tendency is toward adverse legislation M
the Western states; bat ! have just re
turned from Omaha, and | think ] have
absorbed an the Information ailOut There
Is nothing that Immediately mruuces the
revenues Of the company in this respect.
There Is absolutely mo- connection bee
tween the roads indebtedness to the gov
| rnmcnt aud lbs action upon passenger
or freight rates | think before the
crisis arrives in 1876 In 1SJi-thc
matter of arranging for the government
debt win be concluded 10 both the road
| and the government
Further reasons why the government
| win probably uu, assume the manage
mout of the Union Pacific boy lorcclosiug
| lts mortgage are that IL must first pay
! &SOOOU,OOO of first mortgage bonds. and
| would then have control only of the main
line, exclusive of the Omaha and Ogden
| terminals 10 would cost the govern
mcut At least SlOOUOOOO additional to
! buy these terminals Of the Union Pa
| cihc on to duplicate them The total
amount involved would be- twice on three
times what 10 would cost 10 duplicate the
| uni line. After the government took
control 10 would be- completely at the
| mercy OF connections competitors and
branch lines. Between thcm an 20 would
| become perfect wt-hulp for the abb
sorptiun of the trcusuys surplus