The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-01

eminent and the matter Will be closed.
The payment Of the full amount over
and above the guarantee check will be
made at some future date to be ar
ranged between the reorganization
committee and the government 1t
will, however. be within a short time
after the sale.
On Tuesday will be held the second
sale, under the foreclosure Of the mort
gage securing the holders of the con-
struction bonds. The reorganization
committee will. Of necessity. be the
purchaser. None OF the members of
the committee are disposed to talk Of
the sale or the probable line of action
that will be pursued afterwards, II
is likely that the road will for time
be left in the hands of the receivers,
unless it has been decided who shall
be the managing officers of the new
company. No serious thought has
been given to this matter as yet, but
1t is certain that If Mr.. Clarke desires
to be president of the road, as he was
before the receivership. he can have
the position. If he will accept. it is
not likely that any other name VIII be
considered.
Alex Miller, Of Boston, secretary
and assistant comptroller of the Union
Pacific road said this morning that
he had no knowledge of any compet-
ing bids that would be offered against
that OF the reorganization committee.
There may be some other bids COM
Ing In" said Mr.. Miller, but If there
are / know nothing whatever about
them Mr. Cornish, who is TO auction
off the road. Is the only man who
knows just what bids are to be made.
and know that he Will not discuss the
matter. He is an officer of the court,
and it would not be just the proper
thing for him to do"
While Mr.. Miller disclaimed all
knowledge regarding prospective RI
walls to the reorganization committee for
the possession of the Union Pacific II
was quite sure that the committee
would have no competitors.
Regarding the future of the road af-
| ter 1t has passed into the hands Of the
reorganization committee, Mr.. Miller
said: 1.-THE actual turning over of the
property to the purchaser win be at
some time in the future, depending
very largely upon who is the pur-
chaser. 1t WILL of course. be out Of the
question for the purchaser who buys
the road at II o'clock to assume con-
troll at noon. 1t Will simply be a mat
ter of convenience for the purchaser. /
have known instances where roads
have been bought by reorganization
committees, and as these committees
sumo control Of the road just at the
instant, the receivers have been al
lowed to run the road for two or three
months of course under the direction
of the owners Then when the pur-
chasers had made all things ready they
took hold and managed the property
themselves. Now, if the reorganization
committee gets this road" and Mr..
Miller smiled, that is about what IL
will do The receivers will handle the
road until the committed If the com
mittee be the purchaser" and again
Mr.. Miller smiled happily, rs ready TO
assume formal control of the road"
All of the receivers of the road who
are here, and the other members Of
the reorganization committee, repeat
ed substantially the interview of Mr..
Miller.
KANSAS CITY. Mo, oct 3l.-Gen
Louis Fitzgerald, attorney for the trus-
tees Of the reorganization committee Of
the Union Pacific; Secretary Kreck, of
the committee, and Attorneys w. r.
Rossington and G. y. Smith. of To-
peka, representing the same interests.
left late last night for Omaha. to 10
present at the sale Of the road. Mr.
Rossington said before leaving: 81 do
not know whether the sale will come
off Monday or not, but | can see no
reason why il should not. We shall be
there to represent the reorganization
committee, and IT IS my opinion that
the road will be sold There has been
considerable fuss and talk about this
sale of the Union Pacific, but really
there has been a great deal OF smoke
and very little fire. ] do not know Of
any one who is planning to defraud the