Abilene weekly reflector., 1897-01-21
THE UNION PACIFIC.
A Proposition Said to Have Been
Accepted by the Government.
The ROAD TO Be FODECLoSED
Under the Proposition the Government
would Lose ga 1000, OOO-Senator Plstt
Introduces q Bill Concerning the
Indians In the Territory.

WASHINGTON, Jan. 2O.-L. F. Fitzger-
aid, chairman Of the reorganization
committee of the Union Pacific rail-
road, backed by ]. Pierpont Morgan
and the vanderbilts, has made propo-
sition to the government which has
been accepted by Attorney-General
Harmon. Under its terms foreclosure
proceedings must be begun at once.
If the government will foreclose
on the Union Pacific the reorganiza-
tion committee guarantees minimum
bid on the whole property guaranteed
to net the government 5000, 900, plus
the sinking fund. The net debt Of the
Union Pacific to the government is
S52, 100000. With the sinking fund in
cluded it aggregates s69,OOO,OOo. Un-
der this proposition the government
would lose S24, 200, getting only
about so per cent. Of the debt. As
agreed to by the reorganization com
mittee and the attorney-general. Gs-
posit of ten per cent. Of the bid, or s4,-
100000, is required as guarantee Of
good faith. As soon as this sum is de-
posted the attorney-general will pro-
ceed. Papers are now ready and fore
closure proceedings may begin as soon
as the necessary instructions can be
sent to the district attorneys in the
various localities where suits will have
to be inaugurated. The reorganiza-
tion committee, controlled by Pierpont
Morgan, has S0O,OOO,OOO OF collateral
security. Its minimum value Of s45,.
100000 is subject to any higher bidder,
of course. But it has a cinch. There
is no one else to bid.
SENATOR PLATT's INDIAN BILL.
WASHINGTON, Jan. Ex-senator Platt,
Of Connecticut, whose views on Indian
legislation do not generally agree with
those maintained by western members,
has presented bill which is causing |
lively comment. 1t is intended, the |
author says in the title, to secure to
the citizen Indians in the Indian terri
tory the equal use Of their tribal lands,
and to extend the jurisdiction Of the
United States courts to the territory. |
Senator Platt wants all the lands be-
longing to the Choctaws and the Chick
asaws allotted SO as to q p each In
dian his proper proportie !! The ap-
praisement and allotment Of lands is
to be done through the Dawes COM
mission and under its supervision.
All mineral and coal lands are to
be reserved for the benefit of the two
tribes. Mineral lands in the Cherokee,
Muscogee and Seminole tribes are not
to be reserved. Leases Of any sort are
not to hold good for a longer period
than two years, and per capita pay
nents are to be made directly to each
Individual citizen. 1t is given out at
;he interior department that the bill is
'eally intended to ratify the treaty
between the Choctaws and the Dawes
commission. 1t is also said that when
secretary Francis transmits to the
president the message containing the
;reaty, he will approve officially of the
olatt bill as the proper medium for
carrying into effect the views of the
commission in the five tribes problem
t contains in its various sections the
of the treaty with the Choc-
avs heretofore published.