The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-03-26
GILBERTS DECISION.
General Solicitor Thurston Tells of
Its Effect,

NcAcrdA SolcitOr InurSrOn TELLS OF
Its Effect.
General Solicitor John NJ. Thurston,
of the Union Pacific, who argued the
Short Line receivership case before
Judge Gilbert at Portland, has just
given his views to the San Francisco
Chronicle on the order of the court.
In discussing the appointment of
Egan as receiver by Judge Gilbert, the
senator said there was evidently a mis-
apprehension about the courts action.
''As a matter of fact he said. that
appointment is no appointment at all,
because it is conditional upon the ap-
prevail of the United States court of
Wyoming. If the appointment be con-
f1rmed, then the Portland court will
he recognized as the court Of primary
jurisdiction and Egan will be in control
as receiver"
1t was stated yesterday by people
acquainted with Union Pacific affairs
that while in this city Senator Thur
ston, as representative of the road,
would endeavor to interest a number
OF capitalists in a scheme now being
evolved for the rehabilitation of the
entire Union Pacific system upon new
financial plan. 1t is said that Oliver
Ames. Sidney Dillon, Drexel Morgan
d Co., George Gould and other heavy
eastern operators who are interested
in Union Pacific bonds intend to form
syndicate for the purpose of paying
off all the debt of the road and put
ting it on a new and firm footing. Part
of this scheme is said to be an en-
deavor to secure the cooperation of
heavy western capitalists. and one OF
the men whose assistance Is desired
is Claus SpreckelS. The work done by
Spreckels in behalf of the San Fran
cisco and San Joaquin Valley railway
has given him something Of a national
reputation as a railway builder, and
his great wealth and uniform success
in all his undertakings make him q de-
sirable coadjutor in any great enter
prise. Propositions were therefore
made to him. it is sid. but as yet moth
ing has come OF them. Senator Thur
ston said last night that he had no
personal knowledge of these endeavors
by the road to form the proposed syn
dictate.
There is a reorganization commit
tee" he said (which for a year past
had ITS office in New York. Among its
members are Senator Brice, Mr.. Nor
gan, of Drexel, Morgan g. Co., and Mr..
Carr, an executor of the estate of Fred
erick Ames. Their object is to save
the Union Pacific. but / am not ac-
quainted with their present plans. 1
do not think that any representative
of the Union Pacific has spoken to Mr.
Spreckels to ask his cooperation, for
there is no representative of the road
west of the Rockies who could do So"
The Union Pacific system formerly
comprised five connecting lines. These
are now managed by different receiv-
ers. The object of the reorganization
committee is to arrange the finances
of the roads that the services of the
receivers may be dispensed with and
the management of the old system be
placed in the hands of the bondholders.
The Union Pacific main lines from Og
den to Omaha and from Denver to
Kansas City with connections were
managed by five receivers-S. H. H.
Clark, Oliver w. Mink. E. Ellery An
derson, John W. Doane and Frederick
w. Coudert.
e. McNeill is receiver for the Oregon
Railway and Navigation company,
whose lines extend from Portland to
Huntington. The Union Pacific, Denver
and Gulf, running from Denver to Fort
Worth. is in charge of Frank Trumbull.
receiver Morgan Jones is receiver for
the Fort Worth and Denver City, and
John NJ. Egan has just been appointed
receiver of the Oregon Short Line &,
Utah Northern, which runs from Hunt
ington to Granger, and from Ogden
north and south to Silver Bow and
Phoebe.