The record-union., 1897-10-26

OMAHA, Oct. 25.-Speculation in To-
cal railway circles is animated at pres
ent over the Union Pacific sale. which
viii occur one week from tomorrow.
One element asserts that there is a sur
prise in store for the Reorganization
Committee. and that it will come in the
form Of strong opposition when the
time for bidding comes.
1t is said that the competition will
come from the Russell Sage syndicate,
which is believed to be really composed
of Huntington men, who are anxious to
get the road to run in connection with
the Southern Pacific 1t is further said
that the bidding viii probably be so
spirited that the price brought will be
much in excess of what is expected.
1t is declared that if the Sage people
get the road they viii probably build
new line to Chicago, and thus control
the situation from the city through to
the coast. 1t is further said that if
the Vanderbilts nail to secure the line
it will mean the inevitable extension
of the western line of the Northwest
ern, which now reaches far into Wyom-
ing, through to the coast.
ANOTHER BIDDER PROBABLE.
NEW YORK, Oct. 25.-Indications
point to the formation of a second syn
dicate to bid for the Union Pacific
Railway at the foreclosure next month,
but this syndicate is entirely distinct
from the much advertised one attribut-
ed to Russell Sage and General
Thomas, which both of these men deny
having gotten up.
Two certified checks of 100000
each have passed through prominent
New York banks, made out to the ord
er Of w. D. Cornish, special master in
charge of the Union Pacific sale, and
one Of those conyersant with the reOr-
ganization plans stated that these
checks would probably form the basis
of a second bid, as it is necessary as a
condition to bidding to make a deposit
of 10 per cent. beforehand as a guar
antee Of good faith.
The Reorganization Committee made
its deposit several months ago.
CLAIM TO BE PAID IN FULL.
NEW YORK, Oct. 25-The Union Pa
cif1c Reorganization Committee has
made the following announcement:
The Attorney General has notified
the court for an adjournment of the
foreclosure sale of the Kansas Pacific
and Union Pacific railway property to
December 10Th, so as to postpone the
final disposition after Congress shall
have met
This action is no doubt taken to free
the Administration from embarrass-
ment
The Reorganization Committee has,
however, reached the conclusion that
the interest of the security holders rep
resented by it, and of the syndicate
furnishing the funds to finance the re-
organization, requires a settlement
without any further delay In this sit
uation the committee contemplates, in
order to gain prompt possession of the
Union Pacific line, to oppose any ad-
journment of the sale of the main line
and to bid it in, if need be, for the full
amount Of the Governments claim, the
additional sum involved in this being
about $S,000,000
"As to the Kansas lines. the fore
closure of the first lien upon the sub
sidzed divisions of the Kansas Pacific
Railway will be energetically pressed,
accomplished the reorganization of the
Kansas Pacific lines viii be completed
as planned.
"All allotments under the plans Of the
Kansas Pacific holders, amounting TO
about S15,000.000 in new bonds and
$4,000 coo in preferred stock, will re-
main reserved for the reorganization of
the Kansas line.
The amount Of new first-mortgage
bonds to be issued for the purpose of
the reorganization of the Union Pacific
may exceed S70.000000 and of the pre-
ferred stock $4,000. 600. No change in
the plan of reorganization is involved
in this deal
SALE MAY BE POSTPONED.
WASHINGTON, Oct 25.-Attorney-
General McKenna was shown the
Union Pacific Reorganization Commit