New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-07-19
RAILROAD INTERESTS.
WAR AHEAD IN UNION PACIFIC.

WAR AHEAD IN UNloN TANir ~
OREGON SHORT LINE BONDHoLDERs UNITE TO
DEFEND THEIR RIGHTS
The holders of the first mortgage per cent
bonds of the Oregon Short Line Railway company
are uniting to resist the attempt Of the receivers
of the Union Pacific to get the Federal Court to
relieve them from the obligations OF the contract
Of January r. 1882 by which the interest on THESE
bonds was guaranteed. The bondhoders have Sc
lected as a committee r. c. Martin, John bIseio",
Cyrus J. Lawrence and Bernhard Manner oi
HaIlcarten g. CO.. OF New-York. and Gordon Ab-
bott of the Old Colony Trust Company, OF hos-
ton The committee yesterday issued circular
which threatens a vigorous fight against the Union
Pacific receivers. The circular says, in part:
committee of rcorganization acting IN the IN
terests Of the Union Pacific Railway COMPANY
has appeared in the public prints, ASKING Tor
deposit Of all bonds of the Union Pacihc system.
bonds without disclosing the committees plan Of
reorganiza ton. The holders of the per cent con-
solidated bonds of the oregon Short Line ana
Utah Northern Railway Company. with which the
oregon Short Line RAILWAY COMPANY was WA, con, con,
solidated have also appointed committee ana
are asking for the deposit of bonds with various
tha nmrpose as thcv say I'm their published notice
of acting in harmony with the Union Pacific Reor-
ganization Committee.
Holders Of the securities Of other allied lines
getting together their bonds for self protection,
and consider IT important that you should mass
your bonds and stand united I'm resisting any ana
all attempts to reduce their Interest. y on nav
pose Of maintaining undisturbed your first mort
gage bonds. for which many ri YOU nave pHih
a large premium. and which have still many years
to run, whether you viii allow your rights 10
be determined by those whose interests would be
served 10y the modern method OF reducing the IN
tercst OF first mortgage railroad bond for the
benefit OF the holders Of junior securities.
ACCOUNTANTS REPORT TO BE RECEIVED
A meeting OF the General Reorganization Com
mittee of the Atchson Topeka and Santa Fe will
be held tomorrow to receive the report OF stephen
Little. the expert accountant who was selected 10
examine the accounts and finances of the system.
LIVELY DEALING IN INISSUED SECV RITES.
There IS considerable interest In the issue OF the
securities and stock OF the Southern Railway
Company. the successor cOrporoti ton TO the Rich
mond Terminal system. Although the securities
Will not be ready for delivery for some time. there
has been lively trading outside OF the Stock Ex-
change for future delivery. The new bonds have
sold at r. and the now preferred stock at g.. II
is estimated that $2lp.Vu bonds have changed hands
this week. one firm quotes the bonds ~ 71u1Nis
and the preferred stock At 81, u3Nz There mas
been an Increasing demand for Richmond Terminal
collateral trust and per cent bonds and the
assessment TO pay. The advancing tendency of
the new securities OF the Southern Railway has
influenced favorably the existing Terminal sccur-
ties the exchange OF the two securities Will be
completed probably within two months