[525] Chron. 62:187, 1896.
[526] Report of Commissioner of Railroads, 1897, p. 8. The Government’s dealings with the reorganization committee followed upon the defeat in the House of a renewed proposition for refunding the Government’s loan.
[527] The guarantee was provided by a syndicate with the same personnel as that which had agreed to advance the money for reorganization expenses.
[528] Chron. 65:730, 1897; Report of Commissioner of Railroads, 1897, p. 9.
[529] Ry. Age, 24:897, 1897.
[530] Report of the Commissioner of Railroads, 1898, p. 9.
[531] The entire indebtedness of the Kansas Pacific to the Government was $12,891,900. After the sale the Government brought suit for the balance, but received a decree for $821,898 only.
[532] Cf. H. R. Meyer, The Settlements with the Pacific Railways, Quarterly Journal of Economics, July, 1899. The receivership records have been published in fourteen volumes.
At its final meeting in 1898 the reorganization committee nominated a proxy committee of five members “to permanently represent, at the annual and other meetings, such holders of common and preferred stock as (should) desire to entrust their proxies to the said committee for the purpose of maintaining the management and general policies inaugurated by the reorganization committee.” This took the place of a compulsory voting trust.
[533] Thomas Warner Mitchell, The Growth of the Union Pacific and its Financial Operations, Quarterly Journal of Economics, vol. 21, p. 569, 1907.