Omaha daily bee., 1897-11-04
UNION PACIFIC SALE,

Indianapolis Journal The sale of the
governments claim in the Union Pacific
railroad yesterday at par is source of grief
to tho calamityltes
Minneapolis Journal The Union Pacific
steal is what the free silver organs call the
sale of the road so as to give the govern
ment 100 cents on the dollar of its claims
The sale Is steal" according to these
organs, because the government does not
take nlilroad without the terminals and
operate 1t itself at a dead loss
GlobeDemocrat In the sale of the
Union Pacific railroad yesterday the admins
tration did an excellent days work for the
people There is a chance that In the dis
posal of the Kansas Pacific on December Is
the government may also do something to
win the popular plaudits. All this is very
good for the country as whole.
Chicago Inter Ocean: Even had the rolds
made total default of this sum the govern
ment still would have been gamer by their
construction, for the increase Of trade and
commerce resulting from enlarged facilities
OF travel and freightage was immense. But
by the sale the government is recouped of
all advances made to the Union Pacific and
still is left in possession of the incalculabe
benefits of quick and cheap transportation be-
tween the two oceans.
Kansas City Star: For many years CON
giess has been trying to agree on some sort
of settlement of the question, but every
pass for one reason another. The final
solution of the problem, without the aid of
congress and without loss to the government,
must be gratifying to all unprejudiced
citizens, whatever may be thought of the
past course OF the government and of the
officials Of the railroad.
Chicago News: This successful termination
OF the Union Pacific railway business is dis
tinctly creditable to President Mckinley and
the administration, as the government has
at last succeeded in Obtaining its principal
and practically all the defauted interest,
while for some time it has seemed THE gov
ernment would stand to lose $40, 900, 900 or
$25,OOO,OOO. The administration deserves
credit for its careful handling of the case
and the way in which it brought the re-
organization committee to book.
Chicago Times-Herald: For more than
thirty years congress has been alternately
cursed and scandalized' by the legislation
concerning the Union Pacific. A great lobby
has fattened upon it; congressman have had
their names tarnished. if not dishonored, be-
cause OF their connection or association with
1t, and it has BEEN the fruitful source of
many evils. We are now out of it, and hence
forth the Union Pacific will be no more to
the government than any other of the rail
ways OF the United States. If we can get
as well out of our connection with the
Central Pacific we will indeed be fortunate.
Chicago Chronicle: The sale very nearly
repays the government for all its investments
in the Union Pacific property 1t covers the
line from Omaha to Ogden, where the con-
nection for transcontinental traffic is made
with the Central Pacific company. A further
settlement must be made for the Central
Pacific property and for other lines This
deal Is exceedingly fortunate for the govern
ment. All that was contributed in bonds for
the construction of the road with the
accumulations of interest which the govern
ment has discharged, is recovered in the
transaction. 1t is to be hoped that the gov
ernment will do as well in settling the in
debtedness of the other Pacific railroad COM
panies.
Minneapolis Tribune: TIE $5S 900 900 VIII 'ch
the government will get from the Union
Pacific sale will come in handy. as along in
january the treasury will be obliged to re-
deem about $50, ,OC0 900 in maturing Pacific
railroad bonds and without this reinforce
ment there might be danger of the cash
balance running somewhat low. The
syndicate pays $4,000 900 down and has
several weeks in which to pay the balance,
but 1t will come in ample time to meet
the $30,000,000 bond payment. The synd-
cate will have deducted from it's $685.
900 900 payment some 81 1872 in the sink
ing fund and will receive s13, ,645, $50 in bonds
as good cash, which are also held in the
sinking fund account, thus reducing its
actual cost for the governments lien to less
than $40 600, 900. 1t Is a splendid bargain for
the syndicate, although not as good as it
expected to secure when it started out.