The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-03-26

| The Short Line reorganization COM
mittee may now retire from the field,
and return it's thanks to morning
paper for kindly taking the work out
of it's hands, fixing up all arrange
ments, even to the appointment of a
general manager. and saving it a lot
of work in the future
OF course people who are posted in
railroad matters knew that ever since
John NJ. Egans famous but abortive
attempt to get appointed as separate
receiver for the Short Line ended, the
| reorganization committee has been at
work upon a plan to reorganize the
| Short Line, segregate it entirely from
the Union Pacific and operate it as an
independent line. Such progress has
been made in this direction that long
ago. the plan was printed in pamphlet
form. although the details have not
yet been arranged.
There has been talk all along to the
effect that superintendent Bancroft. OF
the Union Pacific, would be as good a
man for the position of general mana
ger as could be found, but it must be
remembered that such appointments
will be made by the board of directors.
| Inasmuch as that body is not in ex-
istence, it is, to say the least, stretch
ing matters somewhat, regardless OF
how "unqueStionable" the authority
may be, to say at this time that
such official will be a Utah man.
already very prominent in railroad
official life" ETC., etc.
Perhaps the visit of General
Solicitor Kelley of the Union
Pacific was taken as being in connec-
ton with this matter, but that is a
l mis- fal <a N.Y.. Z al iS To
have prepared the reorganization pa
pers, but his visit here was simply to
confer with Attorney Williams regard
ing some personal damage suits.
AN OLD STORY.
AS before stated, the reorganization
plan is an old story, and the following
dispatch is reproduced to show what
progress has been made:
The reorganization committee OF the
Oregon Short Line & Utah Northern
Railway company, Samuel Carr, chair
man, gives notice to all classes of Sc
curity holders and of certificates issued
therefor that the plan and agreement
dated February 20, 1896, has secured
the approval of ali the committees of
bondholders representing securities af-
fected by it. Security holders are no.
titled that all securities must be de-
posted on or before April Is, 1896. The
committee representing the Oregon
Short Line e. Utah Northern CONSOLE
dated bondholders and the committee
of the Oregon Short Line & Utah
Northern collateral trust bondholders
advise holders of these securities to
place their certificates with the Guar
anty Trust company of New York in
order that the certificates may be-
stamped as asserting to the plan of re-
organization.
MOSTLY ROT.
Said a prominent railroader to a
Herald man yesterday: THAT Short
Line reorganization story is mostly
rot. Everyone knows what is being
done in the matter, but it will prob
ably be not less than six months before
the details are perfected. AS to the
appointment of a general manager.
any statement from an official would
be ridiculous. All railroaders recOg-
nize Mr.. Bancroft as an able man, we'll
qualified for that or amy other position.
It is not unlikely that he may be
chosen. but to say that he will be the
man. is absurd. The appointment will
be made by a board of directors. and
there isn't any such thing yet