The McCook tribune. (McCook, Neb.) 1886-1936, 1897-05-21
THE UNION PACIFIC.
Nothing Certain as to When the Road
VIII lie Sold.

Nothing Certain as to When the Road
VIII lie Sold.
General Solicitor Kelly of the Union
Pacific system will return within the
next few days from New York City,
says the Omaha Bee. where he has
been engaged for month in legal
matters connected with the foreclosure
of the governments lien on the u. l..
railway. Considerable testimony has
been taken in regard to the interests
involved in the foreclosure before
Judge Cornish, special master in
Chancery for the Union Pacific Recciv'
erships.
In regard to the time of the actual
foreclosure sale. there have been all
kinds of con lectures. Guesses on the
date ranging all the way from May 10.
next Monday, until January next. have
been made and printed. 1t was BoS-
ton publication that started the story
about the sales being set for May 10,
and cited Messers. Mink and Ames as
authority for the statement. 1t is evi-
dent now that the report was Il pure
canard. and was directed at the time
by those familiar with Union Pacific
matters.
Said Il man who is in Il position to
Judge of the progress that is being
made toward foreclosure To Il Bee re
porter: In my opinion it's good,
safe bet that the foreclosure of the
Union Pacific railway will not take
place this year. But my opinion is no
better than yours or that of any one
else. It's all Il matter of conjecture
and one mans guess is as good as an
other. Every few days statement
setting the time of the sale is pub
liShed. but as Il matter of fact there is
not Il man under heaven who can tell
when the foreclosure will take place.
Il understand that Master-in-Chan
Gerry Cornish has been in New York
taking testimony from holders of vari-
Gus liens against the Union Pacific
other than that of the governments. S.
Now, after all that testimony has been
taken. its going to he some time before
the master will give his report on the
cases to the court. Even If these re-
ports were accepted by all parties con
concerned and at once confirmed by
the federal courts it would take "a
month or more, but it is pretty we'll
understood that there will be no pro-
tCSIo lIoHl tllt VI Ct1 tdll
1t is natural in case like this. where
their intererts might be adversely
affected. that there should arise objec-
tiOns. These disagreements will cause
more delay and even after that there
are half dozen legal processes neces-
sary before the sale can take place, in
cluding the advertising of the sale for
sixty days.
That's the reason | seriously doubt
If there will be any foreclosure this
year. But one guess is as good as an
other. There are even those who are
almost willing to wager that the fore
closure sale of the Union Pacific rail
way will never take place at all. The
receivership may. they argue, be ter
minated within year. or possibly
somewhat less time bat the road will
be operated by the owners in the way
they think the most profitable. II any
man tells you when the foreclosure
proceedings will be terminated. you
may politely tell him he is mistaken.
for there is no one. absolutely none.
who can do anything more than hazard
4 guess on it. There are as many legal
points in the foreclosure proceedings
as there are points to a pineapple. and it
will take some time to solve them all |
That's why | say one guess is as good
rs aDOthnr