The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-07-09
REORGANIZATION
OF 0. R. & N.
Sale to Take Place To-day Near Port
land Under Decree Of
Court.
ASTORIA ROAD NOT INVOLVED
Mcneil Non- -cOmmittaI but Nareus Says
U.P. Will Not have Control at rres-
kili Be Operated
Independently.

Among the strangers In the city yes
terday, was Mr.. Arnold Marcus. Of
New York city, who was here as a
guest OF Major Mcneil with ex-secre-
tary OF the Treasury c. s. Fairchild-
Mr.. Marcus, with Mr. FairchiId. rep
resent the bond and stockholders OF
the o. r. and ". Company. who viii
bid that property In under the decree
Of sale rendered by the United States
court at Portland, which sale takes
place this morning. Mr.. Marcus is al
50 secretary Of the Northern Pacific
reorganization committee. representing
the principal foreign stock and bond
holders. He is a gentleman Of medium
height, broad-shouidered. rather ath-
letie figure, dark complexion. with
black mustache and beard. and wears
glasses 70 look at him one would
know that he is a banker. An Asto-
rian reporter asked him what 1t waa
proposed to do with the o. r. and NJ
and what would be its policy In the
future. Mr. Marcus replied that the
road would be purchased in the inter-
est Of all stock and bond-holders, and
that all interests were represented in
the reorganization COMMITTEES.
What about the Oregon Short Line
and Union Pacific Interests?''
THE Oregon Short Line holds large
amount of stock in the o. R. and n.
and its interests are represented and
will be taken care Of"
Us there any possibility Of the Short
Line OF Union Pacific again obtaining
control of the o. r. and NJ"
THE Short Line or Union Pacific has
/ only certain interests in the o. r. and
", and can never again make side
track Of this property. OF course in
the years TO come they may obtain su-
preme control ii they get out Of their
own difficulties, but l do not believe
that it win ever go back as a mere at
tachment to the Union Pacific. II both
properties do wen some scheme may be
devised. or some control of stock OBJ
tanned that will give the Union Pacific
or Short Line the controlling manage
/ ment."
"Are Mr.. A. B. Hammond or c. P
Huntington interested in the reorgan-
/ ization or purchase Of the o. r. and
NJ"
/ ITO my knowledge neither Of these
gentlemen is interested in any man.
ner in the present o. r. and N. plan
/ The sale of the o. K. and n. prop
erty takes place at Fairview. near
Troutdale, about 10 o'clock this morn
/ ing, and the committee mentioned
above will purchase the real estate,
right of way, track. rolling stock, build
ings. rights and appurtenances Of all
kinds of the main line. on the 10th
and 18th sales of various branch lines
of the same company will be made, and
the same committee will be the pur-
chasers. A rumor has been current for
a number of days past, that it would
be found in the outcome of o. R. and
N AFFAIRS that Coils p. Huntington
the Southern Pacific magnate. and Mr.
A. B. Hammond and his hackers would
be found in control of the entire prop
erty Of the two railroads. From the
interview above this rumor would ap
pear to be false or else the true in
warndess Of affairs is being kept very
secret. Major McNeill, the receiver Of
the o. r. and N. and who it is suppos
ed will be the president Of the reorgan'
lied company, was very reticent yes
terday, and talked about anything and
everything except the o. r. and N.
Mr.. Marcus yesterday evening, be
fore leaving for Portland, said that on'
of the most remarkable things abou
Astoria, to his mind, was the number
of fine schoolhouses in the city. Thi
he thought. was an indication of civili
cation and progressiveness. He saiC
that as to the harbor here and its fu
ture Importance as a commercial cen
ter. there was not the shadow of I
doubt.