The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-28

Reports Of Acceptance Of Committees
OTer are Confirmed.

WASHINGTON. oct. 27.-Attorney-G Cen
cral McKenna to-day fully confirmed the
statements heretofore rgade by the Asso-
ciated Press as 10 the recent offer Of the
REORGANIZATION Committee and its accept
ance by the Government. by which the
fun amount OF the Government cIalm
against TIE main line Of the Union Ia
cihc road principal and interest, is guar
autccd.
This amount IS something IN excess Of
SIS. .O0O. 900. and includes outstanding Gov
crnmcnt bonds issued i'm aid Of the road
90 the amount OF Sl9O1G.jl2 OF this sum
Slj,9l9 5l2 becomes due on January 1.
iS1s and S3.151 600 on January 1, 1893
Whether OF not the Reorganization Com
mittce's original increased bid OF $50 OOO,-
600 holds good 10 q propOrtionate share
as 10 the Kansas Pacific road is an open
question. The master I'm chancery fixed
this amount 10 approximately SjOO0OOJD,
and the contention undoubtedly viii be
that the guarantee offer as to this amount
holds good. This question, however. is
regarded as OF little or no consequence,
as it is confidently expected that at the
Kansas Pacific sales, which no doubt viii
take place on December 10Th. the Rcor-
ganization Committee viii bid up 10 the
fun amount Of the Governments claim
| and the first mortgage bonds.
Their interest, IL Is said. would compel
! them TO do this. II by any chance, how
| over, the committees bid should fall short
| OF the full amount OF the Government s.
claim. 10 is almost certain that the Gov
eminent itself. acting under the authority
conferred by the act Of 1887 Will he pre-
| pared 10 bid I'm the property. No such
contingency. however. IL is stated. is At
all likely 10 arise. and the statement is
made from high official sources that the
net results Of the deal with the ReOrgani-
| zation Committee will undoubtedly be the
| realization of the full amount Of the Gov
ornmonts claims against both the Union
MI
| The next move Of the Government to-
ward a final settlement of the whole rail
| road question viii be the Institution OF
proceedings against the Central Pacific
railroad. The Government states that this
road is already I'm default. and therefore.
subject 10 foreclosure. but In any event.
| it is said. the road must default until the
| lst of next January ON the 1st OF the
present month the Central Pacihc's debt
| 10 the Government aggregated SCI .S2f .4GS.
of which amount S3j .g39 34S Is unpaid in
tcrest and the remainder principal
I'm aid Of this road the Government now
has outstanding Si99O2 100 i'm bonds. of
which $40 100 100 fan due on January 1st.
and Sn.l9IoU0 ON January I. 1890.
Money for the Purchase
LONDON. oct. 2s The Times in its
financial article this morning says:
we understand that British capitalists
promised only 20 million pounds towards
| the purchase of the Union Pacific railroad.
| the other nine millions being found I'm the
United States. moreover half Of that mill
| lion has been taken over 10y American
capitalists so that only "a half million will
! leave London. while the United States
| Government is not expected 10 disturb
New York by blocking up q hole with
ten millions sterling. but will leave it with
the banks ON deposit
Deposit of $4,000, coo.
NEW YORK. oct. 2l-ln anticipation Of
the sale of the Union Pacific railroad un-
der foreclosure of the government lien
20 check for 100000 was deposited to-
day for the reorganization committee with
Special Master Cornish The check rep
rcsents ten per cent. OF Che sum 10 be
paid for the road and IT'S deposit was re-
Quircd as guaranty of ability TO meet
the conditions of the sale.