, 1897-11-02
YESTERDAYS SALE.

W IIhbh - Al
Omaha, Neb.. Nov. 1.-The interest of
the United States government in the
Union Pacific railroad terminated at
Has O'Clock this morning, when at the
foreclosure sale of the mortgage hello
by the United States, the road was pur-
chased by the reorganization committee
of eastern capitalists formed for it's re-
organization. The full amount accru-
ing to the United States from the sale
cannot be given exactly, but it is esti-
mated to be s5S, .O65, 1880.
one of the most tame and uninteresting
performances possible to imagine.
Master-in-Chancery Cornish read the
notice of the sale. which consumed 40
minutes Of time. also a protest
from Manager Receiver Trumbull OF
the Union Pacific, Denver and Gulf
road, against the sale without the other
Union Pacific properties, the Cheyenne
and Northern road and the line claim
ed by both the Denver and Gulf and the
Union Pacific. Cornish then announce
ed that he would receive bids for the
railroad property and bonds. There
was only n bid, that of Gen. Louis
Fitzgerald and Alvin w. Krech, pur-
chasing trustees. and the road was de-
clared sold to them. Under the terms
of the sale the purchasers have 80 days
in which to pay over the full amount
of the purchase money.
1t is particularly certain hat the
road will be left in the hands of the
present receivers, who will run it as
they have been running it, with the
sole difference that they will be respon-
sible to the reorganization committee
instead of the government. When the
committee has perfected all its arrange
ments it will relieve them. The future
head of the road will be S. H. H. Clark,
the former president of the road, If his
health will permit him to take the po-
sitiOn. None of the reorganization
committee cared to make any statement
regarding the Kansas sale, which haa
been postponed until December 18th.
None of them would say a word as to
whether the committee intended to bid
or not.
CORNISH WAS CROWDED.
For over an Jour a crow had been
gathering to witness the sale, and II
vas only with great difficulty that Mr..
to enable him to work. He finally jam
med himself back into the corner of the
doorway, with one shoulder against the
door and the other against the brick
wall, and prepared for business.
The crowd, which was not over 500
all told, was packed SO closely around
the doorway and up in front Of the
center of the building that the members
of the reorganization committee, the
men who came out to buy the road,
were unable to see anything Dr. hear
a word of what was going on. They
were compelled to stand back in the
hall way, from which one of the mem,
bers occasionally poked out a face just
to see that all was well. Packed into
the hall, leaning against the banisters
squatting upon the stairs or standing
YEARLY in the center Of the floor, were
all the members Of the committee. Re.
ceiver Mink hied himself to an upper
window. out of which he leaned to
watch the proceedings below.
The sale today was under the mort
gage on the property held by the Unit,
ed States government. Tomorrow a,
the same time and at the same place
as the sale was held today will be held
another sale for the foreclosure Of thu
trust deeds securing the constructor
bonds. which constitute the first lien On
the road.