The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-10-14

ihe application for recelyership. The company
Vulnerable u lawsuits a A' "'D'O 70 A'''' H.
n: sss ss for tho ending
opssssns sSpsnis; sam: 'Sos5ss s.
sarpius for ysar...-................ S2ooe.Ib7 o.
Orrle their offices before the news Of the
nstSia s1e I'll Tie snS;se ad Ss' 5osn F. Sfy
mont Of receivers are fully set forth In the bill.
a Ssa SURPLUS Hl q S1Sn r Dse 81
uary to July 1893. there was loss Of net rev.
81 spuss 81 q 5 nP er 4R Ing 0s
there WAS loss 4 net o.
met 10 a ~ 81 ss?fs The
sSnpsnY + Indebted s9r sfc "a SHd materials
sinking fund and Interest charges for septem-
b.. would BE more e, than 900 9r
1hSss VI 5S d snS rs Ss so the
OBLIGATIONS. this state Of affairs being brought
ssSnt IN part BY the SRsGr@ton q The Inter
ina thS raroad @ Of the coantry into
insolvency, but chiefly and more I'm m ediately
e so N o e s9ses ns.te the @
Continent q recoivers was. Therefore. new vi
co%pany and the Union Paee SYSTEM H.O su seS
en- appointment being the only way to protect
levies. dism en- berment. and CONSEQUENT i'm.
payment Of velaes
created In order to develop ito business. and the
branches are as essential to the main line as
ths main ao line to The branshss The policy q
% ths unos Pa e aw.y
receivers arc appointed for all the roads and
branches in order to preserve the unity OF the
srs probably satisfactory to ali interests court
mr.. Clark has been connected with the road
was suS ass sf Ss ali mfas . sSSs rs sE
Sts% s * at to act p
tions. as Comptroiier and Vico-Presiden.. The The
system OF tho company concerning thirty or
and not too much , to say s yt thss e2 ST.
Mink 10 probably the only Official familiar with
Mr. Anderson was doubtless sslected by the
ss tS S Of the government
Ing large creditor OF the company. but an uS-
secured creditor having lien on the prop
dsSt Is au to un fri i 10 part
der Preferential Government service, and the
amounts in each year to a largo sum OF money.
more than enough to pay interest on tho Gov.
required to, pay rs Der cent. of its net earn
ines to the government to lie applied
q" da1 1ss Of sSsc snf yss
has large interests to be protected. and doubt
less less the court appointed Mr.. Anderson as the
familiarity with the affairs Of the he" company
and its relations to the Government. He wa.
tho Pacific RAILROADS. Investigating Commit
tee Of 1887. and was selected as a Government
States Circuit Court for the District " Of Kansas
has appointed the same receivers for that
The Union Pacific hallway Company was
ttSSr n IN JG nady iSS 10y cGnselidston Of
Peo and DsSVer PsS T sha shs
The Union pacilie railroad COMPANY. was
and WAS opened May IL. 1s6o. The Ihes so ),
received land grant Of 1900 acres a mile. |
subsidy In United States bonds OF ST.. 23G5lS
on l.033 miles Of road.
were TO be first mortgage on the road, but |
by subsequent act the company was allowed |
and the SUBSIDY bOnds second D mort
me Kansas Pacific received l2.soo acres n |
extent Of $4,000 for 3O4 miles west OF tho |
Missouri River. or total Of $b.302, 600 OF |
City to Denver. 93s miles. on, Sept, ], 1870: |
Default was made ON its nonds In 1918. and |
the company was in the hands Of u receiver |
ganized, The Denver Pacific was built by tho |
Kansas Pacific aud opened Jan, ]. 1871.
The length Of tho consolidated line is 1921 |
miles and OF the auxiliary lines 3. $50 miles. |
making a total of 1851 miles In the Union Pa
cifio system.
BosfoH. Oct. l3-yice- President Atkins OF
the Union Pacific makes tho following state. |
ment:
=" Since the falling eft in Tho gross aurniugs
assumed snch large nrnport ions. the directors |
OF tho cohp pany and officers ON me limo of the |
road hnvA made Htr"ruou- "h'~s - rndnro