The herald., 1897-10-06

THE FIRST
Will See the Union Pacific
Disposed of
INQUIRIES BY FOREIGNERS
INDICATE AN INTENTION TO
SUBMIT BIDS
No Agreement Made Beyond the Guar
antee Given by the Reorgani-
cation Committee
Press Special Wire.

/
| from London last nght TO the effect
| that an English syn dicate had forward
ed a bid for the Union Pacific property
in competition with that Of the reor-
gauization committee, the attorney gen.
eral said that although no foreign bid
had yet been received, it was fact that
the government had received inquiries
from foreign sources, and he had no
doubt that the capitalists of this country
and England would see to it that the
property is not sold at price much be-
low its value. The government. he said
had entered into no agreemen or under
standing with the reorga r,iza ton COM
mittee or anyone else by which they
were to have the road at $45, 600 900 or
any other sum. The property, he said,
would be sold under foreclosure pro
ceedngs to the highest bidder and thc
only connection the government had
with the reorganization committee was
that the latter guaranteed that if the
government would join in the foreclos-
ure proceedings, the committee would
guarantee that bid of at least $45 O00, 600
would. be received for the governments
equities. Under this pledge, the good
faith of which was secured by a deposit
of $5,000,O00 the government Joined in
the suit, which resulted in an order by
the court for the public sale of the
property on November 1st.
THE FINAL DETAILS
NEW YORK, Oct 5.-A dispatch to
the Herald from Washington says:
Former Governor Hoadley, counsel for
the Union Pacific reorganization syn
dicate, will discuss the final details Of
the foreclosure sale of the road with
Attorney General McKenna tomorrow.
1t is probable that an arrangement will
be made by which the purchase money
can be paid by the syndicate without
taking much Of it out of actual circula-
ton and locking it up in the Treasury.
Under the terms of sale, the final in
stallment must be paid on January 1st,
1898. On the same date, the govern
ment will be called upon to pay about
100000 600 Pacific railroads bonds, on
which the roads have forfeited. 1t will
probably be settled tomorrow that $780,
900, 900 Of the purchase money shall be
placed in the national bank repositories
of the United States instead of being
L y
in circulation.
NORTHERN PACIFIC DIRECTORS
NEW YORK, Oct. Sat the annual
meeting of the Northern Pacific stock
holders held here today the following
were elected directors Of the road for
the ensuing year:
Edward d. Adams, D. Clark. Charles
2. Coster. Robert NJ. Galloway. Brayton
Ives, Dulles James, Daniel s. Lamont,
Charles Mellen, John G.. a. Moore, Wal
ter C. Oakman. Oliver Payne, Small
Spencer, James Stillman. Francis Lin
derman and Edwin Thompson.
The first report under the reorganiza-
ton was submitted. 1t covers the ten
months ending June 80, 1891 The income
account for this period shows as follows:
Gross receipts, S14941, SIS; operating ex-
penses, $9,155,S7S; net receipts, $5.7s5. .945;
taxes, $42S, ,SSl; net income from operat-
ing, $3.50, ,96f; other income, S2S5,3i1; net
revenues, $1,000 365; interest on bonds.
SO 110, 24S; balance, $5O2 ,051; surplus. $4S9.-
S2S. The length of the main line operated
is 1915 miles. The land owned by the
Northern Pacific amounts to nearly 34.-
100000 acres, Of which almost all is
watered by the Mississippi. The COM
pany's position with regard to current
assets and liabilities is: Current assets,
$7,437 oil; current liabilities, $4,483. 1856;
net current assets, $2953, ,026.
CENTRAL PACIFIC AFFAIRS
SAN FRANCISCO, Oct. 5.-Central
Pacific matters are readjusting them
selves on the lines announced by William
H. Mills a week ago. Isaac z. Gates.
1.xr rfY,r- L,
reelected director and third vice
president and Colonel j. C. Kirkpatrick
has retired from the position in the di-
rectorate to which he was elected in
order to secure a quorum in July. The
return of c. p. Huntington to the board
and his reelection as first ce-president
of the Central Pacific is expected soon.
The stock and bond books of the Central
Pacific, which were sent here during the
nterregnum. are being signed by Vice
President Mills, but when this work has
been completed matters will be con-
Quoted by the transfer department in
New York as formerly.
A CROSSING NEEDED
WASHINGTON, Oct. 5.-The Rio
Grande Western Railroad has applied
to the Secretary Of the Interior for per-
mission to survey a route across the
Uintah Indian reservation. Accom-
panying the application was a statement
from Indian Agent Peck to the ef-
feet that he had consulted the Indians
ard that they had offered no objection
TO the survey. Secretary Bliss referred
the application to the Commissioner Of
Indian Affairs, and that officer has re-
turned it with his approval. 1t is regard
ed as altogether probable that the Sec
retary will grant the request OF the COM
pany.
LAMONT'S POSITION
NEW YORK, Oct. 5-Daniel S. La
mont was today elected president Of the
Northern Pacific Express company,
which is an adjunct of the Northern Pa
cifc railroad. of which he is a director
and president.
FRUIT SHIPMENTS
SAN FRANCISCO, Oct 5.-Traffic
Manager Smurr of the Southern Pacific