Show Gould Relinquishes Control of the Union Pacific CHICAGO Aug 2A morning paper eays I is generally understood Jay Gould has virtually relinquished control of the Union Pacific railway und that a majority of the stock and bonds of the company has O r been placed in the hands of tho banking firm of Drexel Morgan Co The general opinion is Drexel Morgan t Co have acquired controi of the Union Pacific in the interest of the Vanderbilts They are the financial agents of the Van derbilts and are also in control of the Chicago Chi-cago Milwaukee St Paul This indicates indi-cates a close alliance between the Union Pacific and Northwestern and St Paul roads is contemplated The Vanderbiits have long been anxious to secure a foothold foot-hold west of the Missouri river and gain an independent outlet for their system of roads to the Pacific coast It is not likely they will be content without the Union Pacific but that they mean to acquire other important railway systems I west of the Rocky mountains A contest is said to be now in progress between the Vandorbllts Chicago Burlington Quincy and Atchison Topeka Santa Fo for possession pos-session of the Denver Rio Grande road I with a prospect that the Vandcrbilts will carry off the plum I Vanderbilts succeed suc-ceed in getting the Rio Grande it is believed I lieved their next move will be to secure control of the Southern Pacific ana there are no serious obstacles in the way of their getting it With this road in their control I the Vanderbilts will be able to dictate dic-tate terms to all other t lines so far as through traffic between the Atlantic and Pacific is concerned Gould is probably interested in this scheme and has an understanding with the Van derbilts and Drexel Morgan < fc Co whereby his railroad interests in the west will receive ample protection |