The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1893-08-04
IT'S TERRIBLY HARD UP
The Union Pacific Doesn't Know How
10 Twist or Turn.
CUTTING DOWN EVERY WAY
some Service to Be Abandoned
Immediately - Receipts Have
Diminished Because the
West Is Stricken.

OMAHA, Aug. 3.-An extraordinary
meeting of the board of directors of tho
Union Pacific has been called for next
Tuesday mt Boston, and while the officials
say the session has been ordered only for
the purpose Of decreasing salaries, IL Is
hinted in inside circles that action may be
taken a great deal more important than
the alleged object. Comptroller Oliver
w. Mink has been on tho ground for sew
eral days here doing everything in his
power To cut expenses to the lowest limit.
Owing to the sickness OF President Clark,
Mink is the executive head of the commis-
sion. Speaking Of the situation to-day he
said: physically the Union Pacific Is in
excellent condition, but financially We arc
compelled to retrcnch in every depart
ment. We have met our August In
terest and other obligations falling
due on that date with money to
spare. but SO gloomy is tho out
look that our attention is wholly directed
toward cutting down our expenses. Our
credit is first class and physically We are
in good condition. But there Is nothing
coming in. Commodities are not moving.
Corn Is not yet harvested, wheat 10 prac-
tically failure in Kansas and Nebraska
Colorado has shut down her silver mines
aud the western country feels the force of
| the situation. There are conditions and
| not theories that confront railroad men
| aud they must he met. Following up the
order for retrenchmcnt some 600 miles
of passenger service will be discontinued
on sunday next. trains between Ogden
| and Portland being taken on. This will
| give only day service, the night service be-
ing abandoned. As an example Of tho
sombcrness that exists in railroad circles,
| 1t is stated by n gentleman who knows
that $50 telegraph operators have been
discharged from service on the Union Pa
ciiic.
"When was in Omaha several weeks
ago. things looked more hopeful than they
do now. Nebraska and portions OF Nam
sas promised magnificent returns, but the
enormous trackagc of the Union Pacific
west of North Platte gives little hope OF
yielding satisfactory returns for 10, and
possibly for 10 days. The western sec
| ton of this continent Is in condition
that absolutely requires from us the most
| aggressive attempts at retrenchment.
The movement of commodities has
stopped To our great detriment. Our
yards are filled with empty freight cars
our engines are lying idle In roundhouses,
due TO stagnatiou in business.
Then you have reached bed rock ?'
"lt has been reached, but We will be
compelled to reduce forces still further
and may possibly have to cut salaries to
meet present exigeucies. This last Is a
step which We will discuss very conserva-
lively before taking, but will probably
have to be considered. Mr.. Clark's we'll
known sentiment regarding men In his
employ will postpone this action to the
last moment. but when all other sources
fail TO meet the requirements then the
last resort must he accepted as inevitable
As 10 a receiycrship. it has not even been
thought OF. We are meeting our obliga
tions rs they fall DUE