The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-19

are given, and - - impossible . say
whether there are any ~oodpile colored
people lurking therein. On its face 81
seems 20 BE frank propositionfort the set
tleuent OF many Iong-stsudlng and per
picking problems. One suggestion made,
and such as everybody VIII pronounce
good, Is that the roads be so reorgauized
as 20 make a through line from Omaha
TO San Jose, and be operated as one sys-
TEN. This would result in a greatly irn-
proved transcontinentaI service via og-
den. ard. OF course. incidentally help the
Union Paclfc by throwing 10 i not lit
tie OF the traffic now diverted 20 the
Southern Pacific. Whether this idea IS
approved By Mr.. Thurston in order 60 pre-
vent. as he says. the whole country being
a. the mercy Of the Pacific lines west OF
ogden operated by the Southern Pacific,
or whether ii is favored as tending 10
enlarge the Union Pacific receipts. does
not much matter. II viii .e generally re-
garded as a very desirable consolidation
Of systems at present not working IN har-
nony.
government shall sell its claim against
the roads 10 the highest bidder. along
with which transfer shall be conveyed
the right TO foreelose on the entire lines.
Tie purchaser would take the property
presumably subject TO the bonded indebt-
edness now outstanding. The government
directors plan. presented not long ago,
proposed that the government Itself
should foreclose, assume the first mort
gage Indebtedness, and then turn around
and sell to any purchaser who would in
turn assume the first mortgage indebted
ness and reimburse the government for
its subsidy expenditures. now represented
by a second mortgage. BY the Thurston
bill tho government gives up the road for
from 20 70 60 per cent. OF what II has paid
out. the author believing that no more
than 90 per cent al most could be OBJ
tanned. BY the directors plan. the gov
eminent may get back all 1t has expend-
cd. Thurston seems 10 desire TO release
the road from the grip the government
has on It: the directors propose that the
government shall acquire it and held it
until somebody is willing to buy it at
whatever figure congress shall determine
is reasonable price, considering the or
iginai subsidy expenditure
1t may be that 80 per cent. is all that
the government can realize on it's mort
gage. changed by congressional trickery
from a first 10 a second lien, bur there
are many who viii think that II the two
roads are run IN conjunction as n through
line and on business principles. The pres
ent fixed charges can be met and the
United States in time be reimbursed for
It's entire outlay. Possibly at maturity
the first mortgage bonds NIGH. have to
be funded, but that could easily be done
as a government obligation. and 10 doubt
at a lower rate OF interest thal they now
bear. 1t is a question. too, whether, rath-
er than sacrifice half its claim, the gov
eminent would not prefer to take over
the whole property and run ii. The gov
eminent directors oppose this, but the
plan would be approved by many who de-
sire TO see the experiment Of governmen mt
al control tried and believe good manage
ment and absence If stock jobbers from
the directory would make it paying
piece OF property. Until Senator Thurs
tons bill is made public in full. II IS, Of
course, impossible 10 pass upoa it under
standingly. but enough is known TO lead
10 the belief that the government w;n
hardly get as much out of his plan as IT
could by some other scheme of settle
ment