Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-11-02
THE UNION PACIFIC
Sold to the Reorganization Committee,
Yesterday,
For the Sum of $50, 528, 532.76.
The Programme Carried Out to
the Letter-Only One Bid Made,
and There Was No Opposition to-
the Sale.

and There Was No Opposition to-
the Sale.
Omaha, November 1.-The Union
Pacific road proper, including the
buildings and all that goes to operate
the system, was this morning sold to
the reorganization committee for the
sum of So, 52S, 532 rs. This amount does
not include the sinking fund in the
hands of the government and taking
this to be $4,036, 400, the amount stated
in the government decree covering the
sale of the road, the total paid for the
property was $57,564, 1926. There
were no other bidders and the road
went to the reorganization committee
! without any opposition.
The sale of the road was in itself one
of the most tame and uninteresting
performances possible to imagine.
The crowd, which was not over five
hundred all told, was packed so closely
around the doorway and up in front
of the bulletin that the members of the
reorganization committee, the men
who came out to buy the road. were
unable to see anything or hear word
of what was going on. They were COM
PEELED to stand back in the hallway
from which one of them would occa-
sionally
POKE OUT HIS FACE
Just to see that all was well. Packed
into the hall, leaning against the ban
nisters, squatting upon the stairs or
standing YEARLY in the center of the
floor, were all the members of the
committee. Receiver Mink hied him
to an upper window, out of which he
leaned to watch the proceedings be-
low. The sale was advertised to take
place in front of the Union Pacific
freight house, at the junction Of Ninth
and Jones streets, at II o'clock, and
it was just one minute after that time
when Master-in-chancery Cornish, who
was to act as auctioneer, took his place
on the low stone step in front OF the
Ninth street entrance to begin the sale.
For over half an hour crowd had
been gathering to witness the sale and
it was only with great difficulty that
Mr.. Cornish was able to get sufficient
room to enable him to work. He
finally jammed himself back into the
corner of the doorway, with one shout
der against the door and the other
against the brick wall and
PREPARED FOR BUSINESS.
Those of the committee and connect
ed with it who were present were Re-
ceivers John w. Doane, B, Ellery An
derson, General Louis Fitzgerald, OF
the reorganization committee, and
Winslow S. Pierce, the attorney of the
reorganization committee and the wiz
ard who solved the scheme of reorgan-
ization; Alexander Miller. of Boston,
Secretary and Assistant Comptroller Of
the COMPANY; Hon. John Sheridan, of
Maryland, a government director OF the
railroad; General Solicitor Kelly and
| Gen. Gown. the government represen-
| tatives: Jacob F. Schiff, OF Boston;
Marvin Hugitt, of Chicago; T. j.
jefferson Coolidge, Jr., of Boston, and
| Lawrence Greer, his assistant.
Mr.. Cornish carried under his arm
large portfolio bound with the regula-
| ton red tape, and as soon as the crowd
| gave him room to extend his arms, he
| united the string and drew forth
number of papers. Selecting one OF
these he replaced the others and hold
ing It out he said: Gentlemen, | am
here to sell certain railroad properties
in pursuance of decree of the United
| States Circuit Court. / will now read
| the description of the property TO be
sold, and when | have finished the
| reading | will be
| PREPARED TO RECEIVE BIDS"
He then unfolded the notice of sale,
which was very long, being about four
columns Of agate type.
1
This notice is so long, gentlemen,
said Mr.. Cornish, that l will not at
tempt to read it so that all Of you can
hear it. / will endeavor to get
through it as rapidly as possible.
| He then began the reading OF the
| notice. and as he had said, did not
read it so that the many people could
! hear it. His voice grew weaker as he
read. and finally it became nothing but
! an unintelligibe humble that was not
| distinguishable three feet away.
| Close to his left hand stood Law
| renee Greer, with copy OF the notice
| in his hand, and he followed the read
| ing of the master-in-chancery very
| closely. He was the only member OF
! the reorganization committee or those
connected with it who saw the pro-
ceedings from first to last From time
| to time Attorney Pierce, who was in
| the hall lust behind that portion Of