New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-18
TNION P4CTFIC RAILROAD MALE.
RESULT OF CONGRESSMAN cOOMBss IN Eh'
VIEW WITH THE ATTORNEY GENERAL
NO KNOWLEDGE OF ANY NEW
BID TO BIZ MADE

Learning that ex-Congressman w. ]. Coomps'
who is 4 Government director In the Union faci"c
Railroad had been TO Washington on Saturu"S "
cons ut with Attorney General Mckenna III fes"'u
TO the coming foreclosure sale OF that roah OH NO
vember . a Tribune reporter called on him last
night Mr. Coombs. when asked anout MS ''S'''
said.
Yes | went 20 Washington to ascertain "ne'her
or not there had been any negotiations entered mo
with the Attorney General looking 10 another oiu
AT the foreclosure sale which Is ADJ ertised 10 take
MACE on November . spent several months.
without success. attempting as "A Government
director to promote another bid. and thought II
strange that 10 intimation had come 10 me or IN
au!res been made OF me for data in my possession
II such "A step was contemplated But seeing IN the
papers that such bids were being considered anu
were only being Withheld awaiting some conces-
sions on the part OF the Attorney General, went
there to ascertain the facts I'm the case ana the
nature OF the concession asked was surprised
10 learn that aside from some plan employing II
proposition that the Government should accept as
lts norton OF the sum realized at tho sale bonds
OF the road under new org lnization. TO run nfty
years there had been no new bid made
AS that proposition had been defeated III con-
gross II was not favorably considered. could not
learn moreover. that the party making 1t had any
responsible backing that II was more than the
suggestion OF scheme with that feature III II.
There were numerous suggestions. but no pam re-
quests for specific concessions in the terms or sale.
As the result OF my Ions interview with the At
torney General became convinced. without a
shadow OF a doubt in my mind that he Is anxious
TO obtain for the property ali that can be secured
from H. and 10 that end will make any concession
that ne can legally make TO any responsible bidder
or bidders provided II can be done with SAFETY 10
the interests OF the United States. lie can only
deal with the proceeds OF the sale that Will come
TO the United States az the second creditor re
has
must he paid the first mortgage holders
he conceded that his position Is one OF
great respons b.lity, and that he must exercise
great care that 10 does not jeopardize the GER
talntv Of the receipt by tie Government or the
larger sum guaranteed. by the arrangement Tor an
upset bid. unless he has an equal certainty OF as
large or larger sum from other bidders
II learned also that this arrangement !or an IN
creas, OF the original amount OF that bid by four
and one quarter millions did not In the least change
the situation whereby the sale was to be opened 10
the world The decree Of the Court was entered
Tnlv %: so n the sale occurs on November 2 II
will have before the public three full months
I'm fact II has been well understood In ilnanclal
circles for a year more. and yet no combination
OF capitaletc has considered making a competing
bid or AT least. none has approached the oncers
OF the Government with n definite proposition 10
that end The positive statements in some or tne
papers try to encourage the belief that some such
approach will be made without delay. Usually
their interests hut In this instance they seem 10
have been "a listed fall in with the organization
committees plans and become part OF the
sch