The islander. [volume] (Friday Harbor, Wash.) 1891-1899, 1895-06-20
SALT LAKE DECISION
r,ro Short Line Receivers for
That Circuit.
p,ycR0FT WILL ASSIST EGAN
,-,,iou Pacific Officials Successful in
Having an Associate With Mr..
Egan Appointed.

t-,,ioT Pacific OmclalS successful In
u.,ipc an Associate With Mr..
Egan Appointed.
Sir Lake. Utah, June IL. Judge
,,.r,+r If the district court, handed
5,,.,. d. decision in the Oregon Short
T T 4, Utah Northern case today. He
"a,inr. john NJ. Egan, of st. Paul,
'r ri " Il. Bancroft, of Salt Lake, re-
,';r.r. of the entire property within
w.. jurisdiction of the court. This is
' ., rbe condition that interest now
5r. nm mortgages shall be paid by July
and All interest falling due there
,f+gr he paid within thirty days from
r,srnrity, otherwise the property
-I,1l me surrendered to the receivers of
rbe Union Pacific road.
M reference was made to issuing re-
caiyrrs certificates.
The Trust company made a strong
fgbt for single receiver, claiming
that the appointment of an associate
receiver would defeat the objects of the
.rit In some quarters it is claimed
that the loan and trust company will
nor accept the condition imposed by the
ronrr. This opinion is in part shared
by Mr.. Egan himself.
Bancroft the associate receiver, is
GENERAL Superintendent of the mountain
division OF the Union Pacific. His
friends point to his clean and success
fnl management of the Rio Grande
Western road during his six years as
receiver and general superintendent;
also 10 the various improvements made
by him on the Short Line, and think
his association with such an able man
aver as Egan could not fail to bring
satisfactory results to every interest
involved.
Mr.. Egan left for the East tonight,
and Senator Thurston will go to Idaho
for few days recreation.
Union Pacific Officials Pleased.
Omaha, June 12.-It was a fOregone
conclusion that the Short Line & Utah
Northern would be placed under the
control Of d separate receiver, the only
hope Of the Interests antagOnistic to the
American Loan & Trust Company be-
IN to secure a cOreceiver who would
be fair to the Union Pacific, which has
now been accomplished by the appoint
meut Of W. H. Bancroft. General
Manager Dickinson was elated over
Bancroft appointment, whom he re-
CARDS as the one man to direct the in
terests OF the separated property. He
said:
But do not believe Mr.. Egan will
accept the terms of the transfer, en-
boiymg as it does the Utah Southern,
a property which has not paid operat-
Ing expenses. Our people feel satisfied
with the terms Of the order as made by
Judge Merritt, and if it is accepted by
the American Loan & Trust Company
Unjust be done at great cost to them.
The American Loan & Trust Company,
through Its attorneys, has fought the
and this, coupled with the interest fea-
ture Of the order, which is along the
lines outlined by the attorneys for the
1rSt mortgage interests receivers OF
the Union Pacific and Short Line, will
probably prove too much load for the
receivers 10 carry. Should Mr.. Egan
accept, 1t Will not affect the forces at
Union Pacific headquarters to the ex-
tent OF more than thirty men, and as
Tor our mechanical force they are re-
uuced to a minimum. 1t has been my
laea, however, all the way through
mat II the two receivers were accredlt-
ed to the property and the contentious
VI attorneys for the first mortgage and
Ine other interests followed, that the
successor receiver could not consistent
y take the property. Mr.. Egan will
low operate the properties in the eighth
ana ninth circuits, but l can scarcely
oeleye this, for Ogden is the key to
NE situation, and it would leave Mr..
LSan the ends Of the line to operate,
while the great middle would be oper-
@'ea by the present receiver, for | take
" mat Mr.. Bancroft would refuse to
Jake the road if his associate should
ooJect to the ORDER
There was much satisfaction ex-
pressed about headquarters when the
lFFmS OF the order became known, for
Tie majority Of the heads of the de-
%F'ments felt that Egan would not
'"Ae the Short Line, loaded down with
Ion,paylng divisions, as in the case OF
'n7 Utah Southern and Utah Southern
extension.
The Wild Man of Sonoma.