The herald., 1895-10-22
Union Pacific REORGANIZATION

OMAHA, Neb., Oct. III. N. H. Pat
rick, the Omaha mem Der of the Union
Pacific government directorate, expressed
himself at length upon the report of that
board relating to the roads organization.
He says:
ave propose such action in foreclosure
as will give direct line under one mali
cement from Omaha to Oakland. The
advantage of this cannot be over-estim at
ed. 1t would bring about greatly reduced
rates between Omaha and the coast. The
plan, III short, is this: Foreclosure of
the mortgage, the SEIZURE under them of
the revocation OF the lease of the Central
Pacific the brushing aside of all the
cum brous ana complex features VIII ich
now hadnicap the Union Pacific, and the
disposition of it to a syndicate to operate
it unoer such federal laws as will Dosi-
lively prevent tie-up with the Southern
Pacific or other lines; in short, the opera
ton of the line as plain business prop
osition from Omaha to Oakland. We do
not contemplate the recovery of branch
lines in the hands of other receivers, nor
does the Kansas Pacific, on which tho
government also has q lien, come into
this matter
eyes. there are syndicates willing to
take the line at a fair valuation. If the
revenues will be such as to induce capital
TO go into it. | have every reason to be-
liave it will be done"
WASHINGTON. Oct. 2l.-The repoI
of the government directors of the Union
Pacific railroad has been an interesting
subject of discussion among pubic men
and the few members OF congress now in
Washington. The report submitted to
Secretary Smith has not yet peen given
to the public. Naturally, department
officials are averse to expressing any
opinion about the Recommendations of
the commission, but the majority of
them, while they will not say so for pub
LEGATION, believed that the recommended
ton of the commission that the govern
ment foreclose its mortgage and take pos
session of the road is the only plan that
will meet with the approval of congress.
Il have just returned from Milwau-
k.e," said Senator Mitchell of Washing
ton, land have not seen the report of the
government directors of the Union Pa
| cific. So far as accepting q cash payment
In settlement for the governments claim
! is concerned, from what l nave heard
about the condition of the roads, shoulc
| say that Uncle Sam will be lucky If he
gets any thing at all out Of them. How.
ever. as the matter will demand the at
tent;on of the next congress, l must give
| it some study before | venture any posi-.
tive opinion"
Representative Charles NJ. Cooper O.
Florida, who was a member of the las
house and carefully watched the debates
upon the Reilly funding bill, said
'Ihave not read the reports of the gov
eminent directors of the Union Pacific
but understand that it is against any
funding scheme. and if that is so it meets
my approval
OMAHA. Neh., Ocr. 21.-Presiden
Clark. managing receiver of the Unior
Pacific, when asked about the report o
the government directors for the through
line to the coast, said chat he preferred
not to talk on the report, but added tina
he saw nothing inconsistent in tn,
scheme and that he saw no reason why
the government could not pay off thu
first mortgage and secure control of thu
Central Pacific and connect it with tn,
Union Pacific for a through line from tn,
Missouri IIvsr to the Pacific coast. Clarl
added that he believed that 1t would b.
of great benefit to Omaha.