Daily Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1876-1884, 1879-10-18

from the st. Louis Post-Dlspateh.
A week or SO ago the Post-DiS.
patch gave an account of sche me
by which Jay Gould expects to Sc.
cure continual line of railroad
reaching from New York city to
San Francisco and passing by St
Louis. 1t was shown that he now
had nothing to do towards the &C
complishment of
THIS VAST PROJECT,
Except the securing of an Eastern
outlet. He and his friends now
practically own the Union Pacific
the st. Louis, Kansas City and
Northern, and the Wabash. These
make an unbroken line from Ogden
to Toledo. A line is already con.
tenn plated from Toledo to Buffalo,
and from Buffalo the Erie goes
straight to the Atlantic Coast.
Gould has been in Europe to see
about the Erie, and it will not sur
prise the best-informed men if he
has control of it inside of three
months. Then tue work will have
been done, and the greatest rail.
road corporation in the world will
have been formed. st. Louis will
have no reason to complain, as she
will occupy the most important
position on this great route OF
travel and traffic that Will extend
from one ocean to the other.
But st. Louis is to have another
road to the Pacific Coast. The an
nouncement can be made with
ABSOLUTE ASSURANCE.
Nor is it to come from Tom
Scotts Texas Pacific, but from the
st. Louis and San Francisco Rail
road, which is emphatically a
home institution. 1t now extends
from st. Louis to Vinita, in the
Indian Territory, and also has q
line running to Oswego, Kansas,
and will soon have an extension Of
that line to Washits, in the same
State. This has been one of the
most successful roads in the coun-
try, its business for the past year
having increased fully thirty per
cent. It was originally known as
the Atlantic and Pacific, under
which name it went into liquida.
ton in 1876. That part of tue road
ia Missouri was purchased by the
st. Louis and San Francisco Rail-
road Company, an entirely new
organization, which took hold
with much vigor. That portion of
the road running from the Missouri
line to Vinita was not sold, but has
been operated under a lease. This
part of the road is known as the
Central Division. The ST. Louis
and San Francisco Railroad Com
pany now comes with
A PROPOSITION
to consolidate. 1t submits to the
holders of bonds of the Atlantic
and Pacific Railroad Company,
known as "first mortgage railroad
land grant bonds, Central Divi-
sion," and the holders of stock in
the same corporation known as
"Central Division stock" a propo-
sition embracing the following
conditions: The holders of said
bonds without delay, to cause the
mortgage given to secure the said
bonds to be foreclosed and the
property sold by the trustees in the
mortgage under the power given
the st. Louis and San Francisco
Railroad Company to purchase all
the bonds and all stock of the said
Central Division, provided the
price shall not be above par; the
st. Louis and San Francisco Rail-
road Company to obtain all the
privileges and advantages in the
way of land grants given the At
lantic and Pacific Company, under
its original charter. 1t will be re.
membered that the land gran a to
the Atlantic and Pacific were very
large, and were considered amply
sufficient to build the road to New
Mexico. the original intention be-
ing to finally
EXTEND THE LINE TO THE PACIFIC
COAST.
Enough only has been done in
the construction of the road west
ward to maintain the title to the
lands. Now the st. Louis and San
Francisco Company proposes to
take up the work and complete it,.
This company now owns and oper-
ates the following number of miles
of road:
Miles.
st. Louis to Vinita"..."."............ 1896
Pierce City to Oswego. 81
Joplin To Glraru AZ
Oswego to Wichita (under construc-
blOn} az
oo'
The proposition to purchase the
bonds, stock and land-grant priv.