Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1895-11-23
UNION PACIFIC REORGANIZATION


Senator Thurston believes the Govern
1nent Should Sell to Highest Bidder.
Omaha, Nov. 11.-Local railway cir
cles We're given new insight into the
various plans of a proposed reorganiza-
ton of the Union Pacific today. The
matter comes in the form of an author
lied statement from Senator Thurston
through Colonel James B. Haynes. SEN
ator Thurston left this evening for
Washington. In an interview the sem
ator said.
My resignation as general solicitor
Of the Union Pacific railway has been
Forwarded to Judge Dillon in New
York and will not be presented to the
receivers of the road for about a week.
l have little idea what the prospect is
for successful reorganization OF the
Pacific roads under the plan proposed
by the present committee. I have an
other idea for the readjustment of this
government matter and reorganization
OF Pacific properties, somewhat in line
with the recommendation Of the gov
ernment receivers, but not according
to their method of reaching the result
l believe it would be a great thing for
the country at large to have the Union
Pacific and Central Pacific lines oper-
ated together as one property. At pres
ent the whole country is largely at the
mercy of the Pacific line west of ogden,
operated by the Southern Pacific, which
has the choice whether it's traffic shall
go via the Union Pacific or the South
'rn Pacific. / think it was one of the
purposes OF the government in charter
ing the roads that they should continue
as one line, operated together, and l
think reasonable legislation can be en-
acted to assure that result.
Il have prepared bill which I shall
introduce in the senate, the general
plan Of Which is this: Take a state
ment Of the governments claim against
the main line from the Missouri river
to San Jose as 1t will stand July l. 1896,
and offer that claim as a whole for sale
to the highest bidder who will give 40
or so per cent of the principal or in
terest; make the minimum so the gov
ernment would get nearly a half of it's
entire claim; sell that claim to one pur-
chaser, giving the purchaser all the
rights of the government, including it's
right of entry, possession and foreclos-
ure. Give to one court Of the United
States, presumably of Nebraska, juris-
diction over a suit to foreclose on the
entire property and on the foreclosure
sale provide that the property should
be sold as a whole, a purchasing COM
mittee to be created as a corporation
and as such to possess all the corporate
powers to congress conferred upon the
several lines
THAT, in brief, is my ideal solution
of the Pacific roads controversy and
reorganization of the roads as
through line. I think a committee
could be organized within 80 days to
buy the claim for so per cent of the
entire amount. The sale would excite
spirited bidding and the amount real
lied might be greater than so per cent
of the governments claim. The gov
ernment would certainly get all that
1t could hope to realize from any meth
Cd of enforcing it's claim.
Il think republicans should try to
organize the senate without a combin-
ation with the populists. When the two
Utah senators come in In January the
republicans will be a BILE to organize thu
senate if not before.
/ think the republicans in congress
ought to pass general tariff act in
harmony with it's idea of American pro-
lection and on which we would be
Willing to go to the country in the presi-
| deiatial Campaign. I do not believe in
any temporary eXpedient to increase
the revenue"