The herald., 1897-11-18
UNION PACIFIC DEBT
WILL BEGIN TO GROW SMALLER
ON MONDAY
Western Traffic Managers Take ster9
to Restrict the Stockmen's
Privileges-Notes

NEW YORK, Nov. H.-Arrangements
for the first payment to the government
of the account of the Union Pacific rail-
road debt have practically been COM
pleted by the reorganization commit
tee and the syndicate. The first pay
amount to about s1S,5oO,OOo. the price
paid for the bonds In the sinking fund
held by the treasury. These bonds
will be turned over to the committee as
soon as the money for them is deposited
in the National City bank to the credit OF
the government. In proportion to the
United States bonds deposited by them
in the United States treasury at Wash
ington as security for the cash held on
account Of the government the National
City bank will turn over to those banks
part of the s13,000,00O. Thus about $2,-
900 of bonds have been so deposited,
over and above the bonds for nearly the
full amount deposited by the National
bnak. OF the $l3,000,000 of Pacific bonds
Currency 6's), which the government
will turn over to the reorganization COM
mittee next Monday, about 100000 900 are
past due and they will be delivered to
the committee at the sub-treasury in
this witty. The remainder, for the most
part, become due on the 1st of January
next ana some in January, 1899.
STOCKMEN'S PASSES
CHICAGO, Nov. 1.-THE western joint
traffic freight bureau met today for the
purpose of considering the restriction
of passes granted to stockmen. This
class of transportation has been great
demoralizer of the passenger business.
and it was at the instance Of Chairman
w. +. White of the executive committee
the Western Passenger association took
hold CT the matter. 1t was the opinion
of the meeting today that great abuses
had crept into this portion of freight
traffic, and 1t was decided that meas
ures should be taken at once to cut OF
in a very large measure the number Of
passes granted to stockmen, actual and
alleged.
Nothing definite will be done until
after the meeting Of the representatives
of the bureau with Mr.. White, who will
in this case act for the western roads
and report to the passenger men the
result Of this melting with the freight
representatives. 1t is certain, however.
that there will be fewer stockmen by
far who will ride on free tickets during
the next year.
DIRECTORS CHOSEN
PRESCOTT, AriZ., Nov. 1.-THE an
nual meeting of the stockholders of the
Santa Fe. Prescott and Phoenix Rail-
way company was held here today and
resulted in the reelection of the old
board of directors as follows: F. M. Muir
ply, d. M. Ferry. C. c. Bowen, G. w.
Kretsinger. N. X. Fairbank. Simon J..
Murphy, Robert McCaurdy, Jay Morton.
| w. c. Bashford.
| DAMAGES AWARDED
STOCKTON, Cal, Nov. 1.-THE jury
| in the damage suit of Margaret Fox
| against the Valley road this evening re-
turned a verdict giving the plaintiff
$1,000 for the damage done to three lots
on Taylor street by the building of the
railroad embankment. The suit was
brought for $4,000. and the railroad made
| a tender in open court of $500.
A RUSSIAN ROAD
VICTORIA, b. c., Nov. 7.-Engineers
who have been engaged In the construc-
ton of the trans-Siberian railway, ar
rived last night on the Empires of China.
They say the trip can now be made from
Vladivostock to st. Petersburg in ten or
twelve days. The road is completed
with the exception Of a short section
along the Amoor River and around Lake
| Balkan.