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Sale Of Union Pacific Road

Sale Of Union Pacific Road image
Parent Issue
Public Domain
OCR Text

Washington, Oct. 26. - The indications now are that the government may yt reconsider its determination to ask Judge Sanborn for a postpor.ement of the tale of the Union Pacific railrcad. No specific information on the subject is at present obtainable, but there are reasons for the belief that the government has received, or is in hourly expectation of receiving, an additional propositicn from the reorganizador committee. ïhis proposition is believed to be a very material increase In ths guarantee offer, provided the fale is allowed to proceed on the date criginal]y fixed upon. ïhis increase, it is reported, will raake the committee's guarantee bid equal to the full amount of the government's claim against the Union Pacific road proper, or about $58,067,398. In that event it is altogether probable that the offer will be accepted and the sale allowed to take place on the day first agreed upon. New York, Oct. 26. - The reorganizatlon' committee of the Union Pacific railroad received an acceptance from the attorney general of the United States of an offer of an amount equalling the full claim of the government against the main line of the Union Pacific railroad, which was some S5S.000,000. 8herefore the sale of the road will proceed without interference, it is assumed.


Ann Arbor Argus
Old News