The herald., 1896-03-14
RAILROAD Reorganization
As Advocated by the Union
Pacific Receiver
GOVERNMENT OWNERSHIP
Is Not Regarded as at all 10 Be De.
sired
Tho Denver and Gulf Is Out for Blood. and
the Colorado War 1ay Be.
come General
Associated Press snecial Wire.

Associated Press Special Wire.
WASHINGTON, March 1.-THE senate
committee OH Pacific railroads resumed
its slttings today, devotipg itself to the
Union Pacific. Oliver w. Mink, one of the
receivers of that road, was interrogated by
Senator Wolcott, and said there was in
cluded in the Union Pacific system about
5000 miles, of which 1880 was govern
ment aided road and 1922 belonged to the
Union Pacific company. For these 1922
miles the gross earnings had been for
twenty.six months since the road came
into the hands of receivers, $50 1888. .632;
operating expenses, $21 ,179,233. he said
that in this time the company paid $500
365 interest OH debts secured, especially
upon the company's lands, of which it held
3,347 900 acres.
The inquiries during the afternoon ses-
sion of the committee was devoted to the
question of reorganization, Mr.. Mink still
Union Pacific, judged by the earnings of
recent years, would not be able to assume
a fixed interest charge of to exceed 81 ,OOO,-
600. In any plan of reorganization the
Oregon Short Line should be retained in
the system. He suggested that the United
States ought to proceed in this manner as
any other creditor would, which would be
to appoint commission and empower it to
negotiate settlement. In response to this
suggestion, Mr.. Wolcott said that possibly
the United States would be reluctant to
adopt that plan in view of the melancholy
experience it was now passing through.
Mr.. Mink said that the consolidation of the
Central Pacific and Union Pacific would
make strong combination, but that it the
Oregon Short Line was retained in the
Union Pacific system, the Central Pacific
system would not be necessary to the
former. He thought, however, that the
Union and Kansas Pacific roads should be
sold together. MIR. Mink took positive
ground against government ownership OF
the road.
Mr.. Mink said in reply to questions by
Mr.. Wolcott, that the receivers had paid
some interest on the debts of the branch
lines; that the earnings from the parent
road ha0 been thus diverted to hold the
system intact.
lie thought there could be no question
that the main line would always be able to
meet it's interests, the danger would come
when the principal should fall due. He
could not promise SO much for the Pacific
line, in which interest amounting to about
$4,000 is now due, none having been paid
since 1894.
Mr.. Mink said that it had been the con-
slant aim of the receivers to meet the in
terest on the first mortgage bonds, but
that the disasters of 1898 and S94 had
necessarily changed their plans somewhat
and it should be remembered that when
the receivers took hold OF the road it's
Golfers were almost empty. He admitted
that there was a close traffic agreement
between the Union Pacific and the Chicago
and Northwestern lines.
Mr.. Clark said the entire Union Pacific
lines of 1922 miles had cost an average of
100000 per mile and it could be duplicat.
ed for about half that amount at the pres
est time.
When Mr.. Clark concluded. Chairman
Gear announced an executive meeting of
the committee for Monday, when it will be
decided whether any more hearings will be
necessary.
OUT FOR BLOOD
CHICAGO. March 13.-There is no change
in the situation in Colorado rates. The
Union Pacific, Denver and Gulf is prob
ably out for blood this time and intends to
keep up the fight. Nothing will bring
about a restoration OF rates unless the
Atchison and the Denver and Gulf come to
an agreement on the coal rates or unless
the latter road is forced by the tactics of
the lines in the Western Passenger asso-
citation. These roads are willing to allow
the trouble to remain where it is without
taking any action, but if it spreads outside
of Colorado business proper there will be
all sorts of trouble ahead of the Denver
and Gulf, as the association lines are not
willing to have their business disorganized
because of local squabbles.
1t is now certain that all the roads be-
tween Chicago and st. Paul and Minneapo-
lis will make the rate and grant the time
extension demanded by the 6. A. r. for it's
annual encampment next September. 1t
was practically foregone conclusirn that
,l,< tbor do foil fhc <,f
the Great Western as soon as that line de-
cIared it would make the time limit thirty
days, as asked by the q. A. r. Many of
the roads are doing this with not the best
grace in the world, for they feel that the
extension will cause a Generalization in
their regular business that they will feel for
some time after the tickets to the encamp-
ment proper have expired. However. there
was nothing for them to do but follow the
lead of the Great Western when once it
had declared that it would accede to the
wishes of the e. "A. II.
CONDUCTORS TINE SCHEDULE
OMAHA, Neb., March l3.-The appeal of
the Union Pacific conductors for re-
arrangement of their time schedules was
the first matter taken up today by the
court of Master in Chancery Cornish.
Chief Conductor Clark of The Order of
Railway Conductors of America had charge
OF the case, anu Drought OUT SUCH t0Stls
mony as showed that the conductors were
now working under an arrangement that
was unfair and unjust. Edward Bucking-
ham, superintendent of car service, was
called. His testimony was principally in
regard to the time tables of the various
divisions of the road. Manager Dickinson
was also asked for certain information
concerning the conductors schedules
Division Superintendents Parke and NAL
low were also examined on this point. At
noon the case was closed and taken under
advisement by the master.
TOUR or INSPECTION
OAKLAND, March 13.-Daniel B. Mccoy,
division superintendent of the New York
Central railroad, is here on a tour of inspec-
ton over the Central Pacific and Union
Pacific roads. Mr.. Mccoy said he had
been sent west by the Vanderbilts to exam
inc the roads, that they might act intelli.
gently were public sale of them declared
by the government. If the Vanderbiits
owned the Central and Union Pacific roads
they would then have a line clear across the
continent. Chauncey Nj. Depew, president
OF the New York Central. is expected here
in about a month.
ELECTRIC AND TOLL ROAD
DENVER, March 13.-Articles of Incorpo.
ration of the West Creek Electric and Toll
Road company were filed in the office of