The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-12-07
GERMAN .oSDaoIDEEs MOVE.


Committee 60 Look Afs~r .. X. = ~
No Bfx salaries for Receivers.
BgxLis. Dee. ga meeting 81 German
hon dnol6sfs Of the Oregon Railway 4
Navigation Company. Of which, il is
claimed, the largest number of shares are
held In Germany. convened this rnornin &,
having been called on account OF the nom
payment Of the December cou irons, ae-
| cofiIsg TO the report received 10 Berlin Of
the Union Pacific railroad. The meeting
was convened BY the Deutsche bank
There IL considerable feeling among the
German Dondhoiders, who claim their in.
tersss Is seriously threatens by the etti-
tude OF the receivers. Siemens. Of the
Deu'sche bank and DIR. Barth read q long
report on the situation, which said the
fact that the December coupons would not
be paid was nothing 10 srIghten the bond
holders. Although they might be in a
very disagreeabe position. il Was only
temporarily. The Oregon Railway 4
Navigation Company. the report con-
tinned. vas commercially in happy posi-
ton, as il vas the Union paeifie's only
outlet 10 the coast. 1t was aided that the
character of the country forbids parallel
line and that the traffic Of the company
port then explains In detail the exact
holdings Of the Union Pacific In the Ore
gon Railway a Navigation Company.
and shows the fnanci TAI condition
OF the latter, together with its
earnings since 1857 Continuing the re-
port says the decrease Of the present year
IL partly in consequence Of the crisis from
which the whole of America, especially
the West, is suffering, but that was nov
posing away. The report also says IL
NAV be confidently expected that the
Union Pacific, even IN the hands Of a re-
ceiver. will make proposal by which the
control Of the Oregon Railway & Naviga-
ton Company is secured to it under condi-
lions acceptable 10 the latter. 1t was
added that II may be possible in the inter-
ests of the Union Pacific to make the Ore
gon Railway 4 Navigation an independent
company ana IN position To make
arrangements with the Northern and Gen.
trail Pacific. whichever is most advisable
The meeting approved the report and
elected committee composed of the fol-
lowing bankers: Siemen.. Heioft, Ait
man, Pappenstaedt and Ahormez Oswald,
TO represent their interests. with full
power to act. The bonds were deposited
In the Deutsche bank.
OMAHA, Dec. Sin the United States
district court this morning Judge Drndy
denied the application of the receivers of
the L MON Pacific to tx their salaries at
SIS 90 each yer annum. The court also
ordered the receivers to deposit the funds
only IN United States repositories. They
were instructed 10 turn over TO the treas
urer of the road sufficient funds 20 operate.
NV YoRK. Dec 8 Oliver W. Mink,
one OF the receivers of the Union Poetic.
admitted tonight that payment of Decem-
| Der coupons had not been made. and there
was no likelihood that they would De paid
very soon. President Clark said the earn.
ines would show r considerable falling of
| for November. having suffered most serl-
| ously through depression of the silver IN
| dustry. He did not see much revival O.
business. despite repeal of the silver law.
| When asked concerning the reorgan cation
| plan published Yesterday Mr. Clark de.
| caned To express an opin on beyond the
statement that government control would.
| TO say the least be an experiment.