The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-23
THE UNION PACIFIC.
Denial of Story that Russell Sage Had
Been Given a Privilege.

Special TO the Indianapolis Journal.
WASHINGTON, Oct 22.-Everybody is
laughing at the story soberly printed in the
New York papers that Russell Sage and
Gen. Samuel Thomas are coming to the res
cue of the government to save it from be-
ing robbed by the Union Pacific reorganiza-
ton committee. When it is related that
these two gentlemen are going down into
their bank accounts for 3O9OO,O0O of their
own money out of pure patriotism and char
ity to the government the sight of some of
the coin is needed to entirely remove the
element of skepticism from the public mind.
They may intend organizing a syndicate to
bid against the reorganization committee,
but until they appear in frolt of the auction
block prepared to do business nobody can
be found who will take them seriously. The
story that Russell Sage had been author
ized by the President 10 form Il salvation
syndicate is specifically denied Ut the White
House and by Secretary Gage ard Attorney
General Mckenna. MIR. Gage says that no
authority is required for such roceeding
and that every man, woman and child is
free to form as many SynlicateS as they
want to to save money for the government.
In it's campaign against the foreclosure
SAFE new YORK paper teleSrapned every
representative IN Congress, asking each
whether he would back up the President in
a move to bust the reorganization scheme
and thereby save the country So coo COO or
ceived. The Populists Democrats and
fusionists to man wanted to knock the
and unyielding support to the President in
such proceedings. The President never be-
fore had such offers Of aelp from the oppo-
sition. The following, from Representative
Lands, of Indiana, fairly gives the spirit
of the Republican replies. lie wires: Il
have unbounded faith in the integrity. judg
ment and patriotism of President Mckinley,
and whatever he may do IN the Pacific Rail-
road matter will receive my cordial indorse-
ment."
Denial from Russell Sage.
NEW YORK, Oct. 22-Russell Sage makes
emphatic and special denial to-day of the
report that he is at the head of an opposi-
ton pool to buy IN the Union Pacific road.
THE report is absolutely without founda-
ton" said Mr.. Sage. r. T. Wilson & Co.,
bankers, of Wall street who were men,
toned in the same connection, also deny
having any part in the alleged syndicate.
When seen again Mr.. Sage said: There
is nothing uncertain about my attitude in
this Union Pacific affair. think it is que
to the people of this country that the gov
ernment should get fair return for what
it gave the Union Pacific, and that if it
shall appear later that something different
Is right Congress should see that it is done
Unless the President is perfectly clear in
right in their conclusions the question
would bear postponing until Congress
meets ana can discuss It, Then discussion
will bring out what is right and what is
wrong. In the meantime ! do not care to
criticise any other plan. When a con-
clusion has been reached as to what is
right and what is wrong there are capital
lists enough to pay the government it's just
due, take the road and protect its security
holders"
Cen Samuel Thomas, who was mentioned
as a member of the Sage syndicate, had this
to say; Il am not responsible for the story
that an opposition syndicate has been
formed D1ITC0aSG Union
cifc road at foreclosure sale. ] do not
doubt, however, that such a syndicate is
contemplated and is in process of forma-
ton l have been asked TO subscribe and
have promised TO do so to the extent of $10-
600 900. | know nothing about any other sub
scriptiOns. My position regarding the
Union Pacific road is we'll known. In my
opinion it is worth the full government
debt -