The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-18
L. p. REORGANIZATION.
Plan to sell the Governments Claim to
Highest Bidder.

Omaha. Nov. 1T-LocaI railway circles
were given a new insight into the various
plans OF the proposed reorganization Of the
Union Pacific. The matter comes in the
form Of an authorized statement from
Senator Thurston. through Col James B.
Haynes. Senator Thurston left this even
ing for Washington City. In an interview
the senator sad:
MY resignation as general solicitor for
the Union Pacific has been forwarded to
Judge Dillon in New York. and will not be
presented 70 the receivers OF the road for
about week. I resigned. not because Of
any real or apparent improperly in acting
as attorney for the receivers. but simply
because the duties Of that position require
the whole time and attention OF the man
who holds It,
Il have little idea what the prospect is
for the successful reorganization of the
Pacific roads under the plan proposed by
the present committee. l have another idea
for the readjustment Of this government
matter and reorganization Of the Pacific
properties. somewhat in line with the
recommendations OF the government re-
ceiVers. but not according to their method
OF reaching the result. l believe il would
be a great thing for the country al large
TO have the Union Pacific and Central Pa
citic lines operated together as one proper
~. At present this whole country is large
~ at the mercy of the Pacific lines west OF
Ogden operated by the Southern Pacific
which has the choice whether its traffic
shall go Via the Union Pacific or the
Southern line. | think ii was one of the
purposes of the government in chartering
the roads that they should continue as one
line. operated together. and l think reason
able legislation can be enacted to secure
that result | have prepared q hill which
] snail introduce IN the senate early I'm the
session, the general plan of which is this
Take a statement of the governments
claim against the main line from the Ms
s'sslppi river to San Jose. Cal. as II VIII
stand July !. lSs6. and offer that claim as
whole for sale to the highest bidder who
VIII give ~ or ~ per cent. Of the prIncipal
and Interest making the minimum so
that the government would get nearly or
quite half OF its o.atire claim; sell that
claim TO one purchaser. giving the pur-
chaser al the rights Of the government
including its right of entry. possession
and foreclosure. Give 10 one court of the
United states. umably Nebraska.
jurisdiction over a suit to forecose on the
entire property, and in the foreclosure
sale provide that the property should be
sold as a whole. purchasing committee
to be created as a corporation. and as
such TO possess all the corporate powers
that congress conferred upon the esyeral
lines.
That. in brief. is my IDEAL solution of
tit dNiiiN EpdpS controversy ana reOr-
SANITATION OF the roads "A through line
/ think a committee could be organized
within thirty days to buy the claim for 30
per cent OF the entire amount. The sale
would excite spirited bidding and the
amount realized might De greater than 20
per cent. Of the governments claim The
government would certainly get an that II
could hope to realize from any method
of cnforcslg its claim
4 think the Republicans should try 10
organize the senate without combination
with the Populists When the two Utah
senators come in in January the Republic
ans VII be able TO organize the senate. II
not before. L think the Republicans in
congress ought 20 pass a general tariff
act IN harmony with It's idea Of American
protection. and on which We would be
willing 10 90 to the country in the presi-
denial campaign. | do not believe in any
temporary eNpedient 20 increase the reve-
nue."