The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-08-04
RAILROADS FEEL THE STRESS.
The Condition of Affairs Especially
Bad on the Union Pacific.

OMAHA. Nebr., Aug. 3.-An extra
ordinary meeting of the board of directors
of the Union Pacific has been called for
next Tuesday at Boston, and while the
officials say the session has been ordered
only for the purpose of decreasing salaries,
it is limited in Inside circles that the action
taken will be great deal more important
than the alleged object. Comptroller
Oliver W. Mink has been on The ground
for several days hore doing everything in
his power to cut expenses to the lowest
limit.
Owing TO the sickness of the president
Mink is the executive head OF the com.
mittee. Speaking of the situation to-day
he said: physically, the Union Pacific
is in excellent condition, but financially
we are compelled to retrench in every de-
partment. We have met cur August in
terest and other obligations falling due on
that date, with money to spare, but so
e Oomy is the outlook that our attention is
wholly directed toward cutting down our
expenses
when / was in Omaha several weeks
ago things looked more hopeful than they
do now. Nebraska and portions of Kan
sas promised magnificent returns, but the
enormous trackage of the Union Pacific
west of the North Platte gives little hope of
VI ldlng satisfactory returns for 80, and
possibly for 120, days. The western Sec
tOn Of this continent is in condition that
absolutely requires from us the most ag-
gressive attempts at retrenchment. The
movement OF mmOdties has stopped, to
our great detriment; our yards are filled
with empty freightcars and our engines
are lying idle in the roundhouse, due to
stagnation in business
'Then you have reached bedrock?"
"Bedro has been reached, but we will
be compelled to reduce our forces still
further and may possibly have to cut
salaries to meet present exigencies. This
last is a step which we will discuss very
conservatively before taking, but 1t will
probably have to be considered. Mr..
Clarke's well.known sentiments regarding
men in his employ will postpone this
action 10 the last moment but when all
other sources fail to meet the require
ments then the last resort must be ac-
cepted as inevitable.
LAS TO a receivership, it has not even
been thought Of. We are meeting obliea-
tions as they fall due. our credit is first
class and physically we are IN good coDdi-
ton. But there is nothing coming on.
Commodities are not moving. Corn is not
yet harvested. Wheat is practically fail
ure in Kansas and Nebraska. Colorado
has shut down her silver mines, and the
country west feels the force OF the stu
alton. These are conditions and not
theories that confront the railroad men.
aud they must be met"
Following up tho order for retren cl,-
menl some 1900 miles OF passenger service
VIII be discontinued ON Sunday next.
Trains between Ogden and Portland are
oeing taken off. This will give only day
service. the night service being abandoned.
AS an example OF the somberness that ex-
ISIS In railroad circles it is stated by gen.
tleman who knows that $50 telegraph
operators have been discharged from the
service of the Union Pacific.
CHICAGO. Aug. 3-Extensiye reductions