Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-11-05
THE UNION PACIFIC MILLIONS.
for Their Deposit so
as to Avoid Disturbance

WASHINGTON, November 4.-Assist-
ant-Secretary Vanderlip has returned
from a brief visit to New York, where
he has arranged for the transfer of the
governments share of the purchase price
Of the Union Pacific railroad. Seyeral Oh
the prominent New York city banks nave
made applications for the deposit with
them of such amounts of the purchase
money as the Treasury Department may
deem necessary. i'm order that there may
he no disturbance of the money market
in consequence of the Reorganization
Committees heavy Withdrawals Inc
National City Bank will accept Slo'OOO,VO'
the Chase National, 2,OOOOO; the Han
over National, S2,000,C0O; the Natollai
Bank of the Republic. 100000. ana the
American Exchange Nationai ana the
seaboard National. $4,000 each, making
a total of S2OSO0,O00 other banks VIII
also apply for considerable amounts, and
furnish the required indemnity bonds
should IT be deemed necessary. the tact'
however. that the Reorganization COM
mittee has decided to make its payments
according to the dates fixed by the court,
instead of paying the whole amount at
once. will relieve the situation very ma
terally.
GOVERNMENTS SHARE, s5SAS,23.
According to the Treasury calculations.
the exact amount Of the government
share of the purchase money is $685. 44S'225.
OF this amount S27, Z36,5l2 is principal out
standing. $50, s30,la interest due and I'M
paid. and 1881, $50 interest accrued but not
due. Against this gross sum there Is a
credit of si557.922 representing the casn
i'm the sinking fund, and Nl,4i6, the
amount of the interest on the bonds IN
the sinking fund due November list,
making a total credit of $4549,SSS, which
being taken from the gross amount Oh the
purchase price, leaves a balance OF
$50, $685.
OF This amount, IS OS4,S 1913 is the amount
of cash in the sinking fund.- which VIII
be due in fifteen days after the connrma-
ton of the sale which is expected TO take
place within the next few days. inc Sc
cond payment will be made fifteen days
after the first, and will aggregate sl2,59O.-
| ss. The three remaining payments VIII
| no made within forty, fifty, and sixty
davs respectively, from the date OF the
| confirmation of the sale, and will be Tor
s12 200. s4S each. The amount of govern
ment bonds issued in aid of the Pacific
| roads. which mature on January LIST next,
| is s29. 9O4. 952. as follows: Central PACING,
| NO6l4120; Union Pacific, S15,Sls,S2; Kan
| sas Pacific, 81, 423O00; Central Branch,
| Union Pacific. $4,000; Sioux CITY ana
Pacific, s,62s.320.
THERE WON'T BE A RIPPLE.
| NEW YORK, November A member
of the Union Pacific syndicate. speaking
to-day of the arrangements for deposit
ing i'm the banks the s5s000.0o0 which Is tC
| he paid the government for it's release OF
lien upon the main line, purchased last
week at Omaha. said: 1.-The transaction
will be carried through without ripple
10 disturb the financial situation. The
money will be deposited in eight or nine
banks, and more. If they care to qralifs
as such repositories. One bank Is ready
with the bonds to take Sl5,o0oO0o on Mon
day and II can arrange to take S3OOoo,OOo.