New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-09
UNION PACIFIC'S AFFAIRS.
IMPORTANT MEETING OF rIRECTO8S-PLANS TO
EXTEND MATURING OBLIGATIONS.

EXTEND MATURING OBLIGATIONS.
An important meeting OF the Union Pacific
Railroad directors held yesterday at The
Office Of George J. Could. The affairs OF the com
many have been apparently approaching crisis.
and the meeting yesterday was an cNtraordinary
session called consider the disposition OF rapidly
maturing obligations. The uneasiness about the
roads condition has been reflected in the course
OF the stock in Wall Street. the shares showing
a break OF four points on Monday, with only
martial recovery Talk Of a receivership had been
revived but all these reports were promptly de-
MED by those most interested. Yesterday the
stock frmer.
The sinking fund per cent bonds amounting
TO more than $5,0o000, will mature on september
l. plan was agreed upon yesterday which gives
TO the present holders of the sinking fund bonus
the opportunity TO renew under present conditions
and rate Of interest for six years, the company
reserving the right for the trustees to draw the
bonds at par after the first year or Tor 'he COM
pany to redeem the whole amount oi INC po''u'
after September !, 1894.
The matter was placed IN the hahcs OF sPe0idi
committee. consisting of A. e. Orr George D.
Gould f. F. Atkins and the Government drec-
tor E. Ellery Anderson Subscriptions nave al
ready been received from the directors for
material amount OF the extended bonds on the
terms mentioned. The company reserves the right
10 reject subscriptions in excess OF SS"o~ Cir-
culars will be issued to the bondholdeTs as soon
as they can be prepared. The company VIII an
tcipate the payment ol the Hi'ciVH' ""' va ~
TENDER on all bonds presented LOT eA'e"so' oe-
fore that date.
The following statement presented showing
the status Of the bonds:
Union Pacific Company sinking fund bonds outstanding
t ssSoS o
S.o&,c,sS bo ID. ............. s5j, 00J 20
.- .a.izaooo o.
Balance in hands OF rnion Trust COMPANY:
an insSes Sinking fund Contribution s25 o AZ
Balance in hands OF Union rust COMPANY,
aasSSslt @vment. '' GO lea IS
Estimated amount Of easn TO be reeciSei from
,ahd 1sSx e' w. 's'. ''' 10000 o.
ro,., ACKNOWLEDGEMENTS. ..Si474 gO5 ia
Baanss Of debt 10 De sna T. 1893 M $50 90
Less estimated payments, January to August "-'S' d
R,,,uc. 90. Is
Add s.,.aicd Of un'od land Janpay 40 ooo o,
r,,., ................... ........s i4ls02Is
The amount s6448sO2 IS. less the amount SHl,-
aai@ shows the surplus Of security In excess OF
the amount Of indebtedness to be provided Tor
namely, s2.6775G7 80
A TALK WITH .dANAGER KIMBALL"
Omaha. Neb. Aug s (SpecaD.-Gencral Manager
Kimball. OF the Union Pacific. today SAID: Ihere
are grave questions before the board for consdera-
ton There are about 81. 100000 In bonds maturing AT
this time and with no market to speak OF the
rs,ssusnce ~ decidedly out OF the question. The
directors among themselves would easily take care
of the maturing bonds, but they are just as badly
off as the rest OF the world We need come such
man as Jay Gould at this time TO step IN ana say
change the whole condition George Could while
possessing many OF his fathers traits. Is ueu up
which undoubtedly needs help at this time The
talk Of receiver for the road has neen use , by
system Salaries pre- sumo. Will be cut and every
thing done TO tide the company over us present