Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-06-14
FORECLOSURE Is INEVITABLE.
Receiver Egan Sees,No Other Course for
the Trust Ccmpany-A CO.recei'cr
~ Obnoxious

On his arrival IN Denver Receiver
Egan OF the Oregon short line cou.
iirmod the statement OF the possible
policy Of tno Oregon Short Line peo-
plo the appointment Of a receiver was
blaoE oye for their plans anu fore.
closure is u DO tbs order. Mr.. Egan
spent Wednesday In Denver, where he
has two brothers, bOtn connected with
the Gulf ys,tm, leaving Tor OmRhs,
via the Burlington al $3.50 last night.
HispAr,ing rsmarG, according TO the
RopuJl.cdu as no boarded tho train To-
nUmu was that 1--WE are not wearing
mourning yet. Foreclosure Is the
iirst thing, Judging from what our
people have previously threatened,
ami tubs l think viii be- begun NJ once.
Tho FIRST Of the year should see this
sails effected"
speaking VI the situsli0n NJ II stood
today, Ini ~ the American Trust
company wants u, Ar. Egau said:
gyms 10 d ptCulinr, Cuntctt becAuse 10
much territory IL interested. ltls vital
10 Salt Lake, aud II IN OF vast impOT.
tsLCe 10 Colorado. since / cginS to
Beaver have found nu overwhelmingly
widespread interest among shippers
aul RAILROAD muu, Ic, tlls Is not
strange when al things arc considered.
WIN too Union PacihU Ia contfOl OF
the oregon ShOTt Line, Colorado aud
UtAn merchants HTe practically frozen
out OF what otherwise should provo "a
very satisfactory market. There Ia no
competition anu All absolute monopoly
In tue freight business 30 fat as the
Union Pacific 10 concerned. IL cannot
be said that with the Short Line on its
own bottom We should assume the
same attitude ~ the Union Pacific now
does, because We do not run 40 FAR.
"With tbs line In our control We
would simply throw IL open to every
connection We could make, beginning
with onu In Utah, the Rio Granite
Western, two at GRAND junction, the
Midland anu the Denver a Rio Grahde,
aud then At Denver with every East
evn line running In heTc.n
MT. Egan diplOmatlcally declined 10
say whether no would act as co.
receiver with Mr.. Bancroft. That In "A
point the trust company must settle
Tor him, but II Is strongly asserted in
Denver that he will not do %. Al.
thOuln the interest on these linus,
100000, hau not been paid for two
years, and the Interest hau not oven
been asked by the bondhOliers, JUICE
Merritt insists II shall 10 psid.
However willing the American Trust
company might nave been 10 pay tins
interest II gwen the entire cOuifOi OF
the lines II 10 not regarded ~ likely that
II Will assume any such burLer with "A
CoTeceiYsr. Accordingly tho next
move ANTICIPATED IA 10 Eeu the trust
company Withdraw Mr.. Egau from the
@ .-rlu,iyership and decline 10 accept
the Tuadb with the double penalty ut a
rO.rrCeivoT hui the interest payment.
The Union Pacific people ,sel as
grluyed at what they ailege rs a loss VI
popularity. They contend that Col
OTRtO InuIchAIls have No reason Tor
compliant ~ tnuir rsIub into lIauI an
Montana pOiats, and assert that thulr
u.slng 10 but 81 peg cent Of Missouri
HvFr rates. Sucn q hasing rate, mCT-
chants uGTo clni1udrd, would not We u
pf1pur one, considering $40 mileage
uutWten HE Iiyeh Colorado anu tic
dertiuatiou, but they would DO aUie 10
do business unuer IT.. The tariffs snow
that not ons.iiith VI the business done,