New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-07
GOTERNNENT DIRECTOR or THE UNION
PICIFIC.

PICIFIC.
The appointment by the President OF Mr..
f. ElleIy Anderson t. be Government director
of the Union Pacific Railway Company in
place of Mr.. II. +. Dmocke who declined to
serve has the merit of fitness ut least, what
ever NAV be said Of it from the point OF view
of partisan politics as an adequate reward Tor
marty service. If President Cleveland meant
Inv Ills oupontmcnt 10 measure his apprec;a
ton of Nr. Andcrsons services in promoting
his nomination or laboring for his election. he
has exposed himself - criticism on the part
not only of that gcntcmanS friends bu' OF
MANY other impartial observers OF current po-
liticaI events who are familiar with the story
of what is known a. the Anti-Snapper move
mont in this STATE For. though Mr. Anderson
was sometimes more energetic than discreet, it
cannot be denied that nc was the mainspring
of the movement in opposition to the Tam
MANY Hill combination which resulted in the
nomination of Mr.. Cleveland at Chicago. lie
WAS not only its leader, but was one of the
very few concerned in il whose motives were
not open 10 the suspicion OF vulgar personal
ambition II may also be said OF him that In
the competition for official positions which fol-
lowed the election and is still in progress. he
has not appeared a. a claimant or candidate.
Ii NAV be. accordingly, that the President
in appointing him to position which affords
small pay and little political distinction but In
which he is especially fitted to render con-
spicuous public service. has consulted the
wishes of Mr. Anderson himself.
However that may be, the appointment *
tl,o ,,tntl-inv
member of the Pacific Railroad Investigating
Commission of 1887. Through the whole
period Of the investigation he was palnstaklng
and interchangeable and he brought to the work
professional skill. clearsightcd compre henson
of details unquc,tionci integrity and judicial
impartaty which were Of the greatest value.
The knowledge which he then gained oi the
history Of the corporation. H. extensive raihh-
cations. its methods and It's operations and rs
intricate relations with the communities 1t
serves and the country il tfavcrScs III him III
an unusual degree for "A position in which he
will represent in the Board of Directors the
interests of the companys largest creditor.
The term for which he is appointed Will cover
the most important period in the history OF
the company since the completion OF the road.
During the next two years the question of the
settlement Of the debt 10 the Government, now
amounting TO about so, 900 600 must be
finally disposcd Of About S33. 900, 600 OF
this is the original debt secured by second
mortgage. and the remainder accrued interest.
The subject has been before Congress in one
form and another for twenty years. From
ISs3 10 1883 il was brought into unusual
prominence by the determined efforts of
speculative combination to force the company
10 "A receiyership. The investigation in which
Mr.. Anderson took so prominent part marked
the end Of the great raid.
The debt begins to mature in 1896, and, OF
course cannot be paid. Government must
either forcclosc It's second mortgage, pay ing OF
some S33. 900 900 first mortgages and taking
DOS ,es. ion of the original roads which are now
mere fragments of the system or must grant
an extension on long time at "A low rate of in
tercst II is one of the most serious questions
with which Mr. CleveIands Administration
will have to deal. II involves a very large
sum of money The Union and Central Pacific
roads have made repeated efforts 10 reach some
terms of accommodation with the Government
NOTABLY during Mr. Charles Francis Adams
presidency of the Union Pacific, when the
massage Of 4 three percent rcfundIng bill was
defeated once or twice by the iilbIsicrng Of
its opponcnts in the House. Neither of 'thc
companies seems now 10 be moving in the mat
fer: both doubtless taking the view that it
rests with the Government which has so much
at stake, to initiate negotiations. II is not
likely that either one would now accept in the
changed conditions proposition 10 refund ~
3 per cent. \ bill is now pending in the
Senate to refer the whole subject to com
mission with full power to fix upon definite
terms of settlement. \ renewal at > per
cent which is the highest rate that has been
proposed since the defeat Of the three percent
bill i'm 1883. would be advantageous 10 the
companics and at the same time make the
Government sure Of payment Of the debt. The
appointmcnt of Mr. Anderson aS Government
Director indicates that President Cleveland
still favor>, rs he did during his last Admin
istration Il settlement Of the whole question
mon terms that will be fair 10 the debtor com
panics and Just to the Government.
THE VEST D1WAGING THE VEST
~. r ~.