| Show TAKING PROMPT ACTION government pushing foreclosure measures PETITION IN OMAHA COURT case of 0 the government in the suit of foreclosure against the union pacific set forth by the tha attorney general officials of the road hoad welcome the coming change believing the old union pacific will be gathered together again future of the short ali iino I ino to omaha jan 23 21 attorney general judson L hermon harmon through special counsel john C corwin lied filed in the onico ollice of 0 the clerk of 0 the circuit court of the united states at noon today a bill calling for or foreclosure of the governments ern ments second mortgage on tho the union pacina main title line from rom omaha to orden ogden arid and on oil tho the kansas pacific from kansas city to denver deliver clerk vt of the circuit court was not in its his office when the private secretary 0 at general solicitor kelly ot of the union pacific came in with the papers two lonely reporters welcomed him clerk hillis came in and the papers were formally filed and thus the great suit ault was begun with an ai little display as 1 if it were vi ere the most ordinary court routine of the office at the union patine headquarters there was a little stir but the officers decline to talk for or publication president and managing receiver S H 11 dark clark expressed satisfaction at the state of affairs but declined to go into detail jai in discussing the matter it la is the prevailing sentiment at the headquarters that the plat moie e is the beat that filet could have come it Is 13 in line with the policy advocated by president dark clark since the road tell fell into its present straits PETITION the petition describes ill the c tion ot of the union pacific railway and recites all the acts of congress in relation thereto therelo showing how the provi slona alone of the several acts act have been compiled with by the company and by the government it sets out that the amount of the first mortgage Is which la Is represented by the trustees made defendants in the suit the second mortgage Is placed at it also asserts that there has been no payment on any of the bonds except by the government the petition alio algo recites the building the union pacific bridge between omaha and council bluffs and the issuance I 1 of bonds as provided for by special act of congress Cons resa and ment mentions lons J pierpont pont I 1 morgan and ellsha adkins and the central trust company of new anew york as aa trustees for these bonds it vas a that of the bonds yet to mature will come due january 1 IM and ta U january 1 1839 1899 that all other bonds have matured and have been paid by the united states and that fae the I 1 value of the security held Is not belll clent to protect tho the debt history toru I 1 the petition then gives a his history ot the in which the road has been involved rind and shows by bv what steps the different defendants have I 1 awn brought tn in connection with the th case rind and sales that the court determine the tha prior priority fr of the different liens and how much money will become due after the decree has hag been issued that the ills lien of the united states be adjusted to be in its proper order A encumbrance vurn brance upon tho the railroad property that the court determine which it 1 any lien la in prior to the lien ken 0 of the united states mid and that provision be made to protect bald prior lien that upon the alio nonpayment non payment after it a reasonable time ot of the amount which may be ascertained b by the th court to bo duo and ow ing to tg the united sta state va government litter after riving giving all proper credits paid lien mortgage and all statutory rights debt of the united states may lie b foreclosed and the premises and franchises embraced therein sold rold find and tile proc P oil ell paid into the treasury trem iury of 0 the unit united states and applied to the be credit tt of the company c c that the master in chancery i inace n a its a true tru description 0 of tho the property properly of 0 the road subject to the flip lien ot of the ahn united stated and liable able to bo be old hold to pat I 1 afy RAW mid lien that the receivers of 0 the road be b continued to this thin cause for the protection and preservation ot of the interests of 0 all parties hereto BEST THINO THING TO DO one of 0 the 04 officials at headquarters when hen told that the bill in foreclosure W had ceen been flipe ali d this noon said all to tell th the fr truth u ill that Is one ot of the li beat at thing that ever happened to tho the union pacific now we can break awaya anway from rom the government and aad operate the road along better lines we can do business as the other roads do free from any entanglements entangle ments ot at the court to be sure aure it Is a long lone way to look to the complete solution at 0 the affair but riot not so 80 far that wo we cannot see in the dim future what tho the final solution will be thero there la Is no doubt that the union pacific and the oregon short line atah northern will continue as aa one ra railway to all intents and pur par ponca even after the segregation of the latter the union pacific system will be itself araan its permanency la Is assured aa aured the west hlll ill see sec one of 0 the greatest grea creat tesi cst railway systems in ov operation oration ever known arid and the trans territory WI will I 1 I 1 be benefited the presence of oc two men representing vanderbilt interests InEe rents mrs depew A and nil hughett on the tion C committee omm attee naturally suggests closer relations with tho the northwestern North but I 1 think there will bo be no change on thial account the line from council bluffs westward will mill continue to bo be separate and r t doubt if its management Is changed at all DIRECTORS MEETING G new york tork jan 23 the government directors director of tho the union pacific pacina railroad held a secret meeting today after which louis fitzgerald president of the reorganization formally announced that art an agTe agreement ement had been reached with the government in accordance aca cor dance with nelch the litter latter h had a d begun foreclosure proceedings of its lien hen on air the union pacifica lines inclusive of 0 the kansas pacific lines the reorganization committee guar anteia antebi a mini minimum mun bid ot of something oer for the governments claim upon the railroad triad and for I 1 the he government union alith I 1 ng fund and has deposited as earnest money kuhn loeb co bankers for or the he reorganization committee have assured the committee the funds required to carry its a agreement cre ement with fall the government into effect can be procured BILL TO BE PILED FILED IN DENVER denver deliver colo J jan 23 13 tho clerk ot or the united states court at denver received it a telegram today from john C cowin special counsel in the union 1 ac I 1 I 1 a foreclosure suit saying la he would arrovo in fit denver tomorrow to ilia hie ea 0 bill in the foreclosure proceedings created it a sensation chicago jan 23 A special to tho the tribune from Car nahn says the announcement no or tho the plan of settlement of 0 the great union pacific system ere cre atad a sanitation in omaha much Is indulged la in put but the oell boffl of at the company are not inclined to talk president and manager receiver S H 11 dark clark of 0 the union pacific paid ald there ther Is absolutely nothing in union pacino road affairs that nan ban not been published I 1 hiapo noticed in the press dispatches from new york that mr jr sage saca and mr gould rind and the union and united states trust companion were opposed to eliminating the governments interests irk in th tho union pacific tle but that 1 li all that 1 I know hilow of 0 it 11 I 1 know nothing personally of 0 tho the matter and havo have had no private advice regarding the matter the tact fact Is that I 1 know comparatively little re garding the plans of 0 the ri tion committee and tho the government directors of 0 the road the situation its aa at present interpreted means of course that air dark clark will continue at t the head ot of the great system which has ha so long ions been ix tn in hla his care there la is no doubt that thai nil all tho the officials of 0 ill the union pacific who are am in touch with the powers believe that tho the segregated lines linen will soon noon be again a 0 part of oc the whole there I 1 li gl a gro greiving iving bellet bellef iacong amone those thoe that the leation committee which a few dai ana ago purchased the oregon short line t U utah tah northern will mill buy in the remaining fragments ot of th the e a system Y at e in when offered tor for foreclosure mils date by the government ern ment foreclosure of tho the mcahon indianapolis jan 22 23 judge jude woods wooda in the th circuit court today entered a decree of foreclosure in tho the suit of chri farmers loran loan and trust truet company of 0 new york against the th louisville new albany chicago thonon tt 21 tion onon railroad company campany under it a mortgage bearing date ot of january 1 im 1886 the date of at the sale balo has haa not hwn been arranged the upset price la is flo on rall railroad road property and on e equipment cash deposit Js from bidders ot of 25 on the railroad property and on the equipment I 1 A yan van buren was appointed special master to make the sale gale emaster atlantic pacific washington jan 23 the conferees of the houses reached an aji agree f ment today on oil the bill for recal reorganization kaniza of 0 the atlantic pacific railroad As A agreed to the iho bill authorizes a reorganization ot of the old company granting Brantl ng to it all tho the privileges and fran franc chloc laNes of 0 the original conces concession n it Is also to be subject to the obligations and duties ot of tho the old concern to the he united states stales as a to other creditors IT the I 1 capital stock of 0 the new corporation is 13 not to be allowed to exceed tho the amount 0 of the mortgage except upon the payment of cash for additional stock tho the secretary ot or the interior to approve tho the same the purchasers aro are to bo be required to relinquish all claims to the companas comp anys unearned land crant the barrison bill washington jan 23 chairman chat commit a powers ot of tho the pacific railroad Kall road committee of 0 the house taya says the determination of the government to fore cloma the lien against tile tho union pacific will not tile the action of his committee in preparing pre and urging the adoption of I 1 the harrlson harrison commission bill santa ro fo must keport becort topeka kan jan 23 21 united states staten district judge judee foster today granted a amrit to comp elthe santa fe railway com company pany to make its H annual report to the ilia interstate commerce commission the report was dua dualist du alast last june truffle traille agreement injunction springfield ill jan 23 in the united states circuit court today J judge u dge allen alien upon application of 0 abo ce central aral machine and foundry company or 0 quincy issued an injunction restraining n iho he e quincy omaha kansas city and the atchison At chleon topeka santa fe railroad companies from discontinuing the through freight line which has been maintained between quincy and chicago via the for former er road to hurd land blandf lie ho acro to the road connects I 1 with the santa emita rt 7 the roada in question are BT also enjoined from refusing freight by that line thit th santa ie fe wishes to break the traffic agreement railroad Balli Bail oad road notes tb brownie leave for denver over the th union bracido this division engineer 0 belveny of th the union was wag in the city yeater day bancroft end alsista ant central freight agent eccles have returned from a tour of 0 the short une I ln general superintendent deuel or of tile union pacific returned rom from ompha this moraine mr M r deuel accompanied receiver mink and party on it a hunting trip through texas at arkansas pam 7 ar dauel caught a twelve feet I 1 lone and three feet in thickness lie he will bo be stuffed teil the riot not sir mr deuel I 1 mr ir deuel ni bol states that he believes bell dve that I 1 the government win will accept the reorganization committees i proposition to take with interest at t 3 PT per i vent in satisfaction of all claims ax As to contemplated changes 0 of 1 tera dents on the union pacific mr deuel states that he knows nothing I 1 denver times I 1 1 A tl if steuart stew art formerly chief train dispatcher in this city and who now occupies a 11 position posit iol it at salt lake Is mentioned for an important I 1 position under the reorganized short line management or of which bancroft mail be atthe at the head had stewart la 19 one at 0 the brightest and most popular railroad men we have ever had at laramie La and i any good fortuno fortune in the way or of a 26 promotion would bo be received with pleasure here by all the railroad men and the I 1 people laralle boomerang Boo |
