The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-12-16
RAILWAY MATTERS.
The Extension Of the Texas Pacific 10 the
Rio 6rauds-The Construction Con.
tract Ready Tor Signatures.

PHILADELPHIA, December 15.-The cor
tract for the construction Of the Texas an
Pacific Railway from Fort Worth TO L
Paso, on the Rio Grade, has not beel
signed yet, as has been stated by SOM
newspapers, 1t is fact, however, tha
such contract has been virtually conclud
ed, and that all now wanting is the sign
ing, sealing and delivery Of the same, ant
this Vice President Frank S. Bond say
will be done some time this week, as Ger
taintly as anything in the future can bt
affirmed.
The terms OF the contract are only gen
orally knownyet. The main feature Is the
completion Of the six hundred lacking
miles by January LIST, 1888, leaving only
eight hundred miles to complete the con.
nections to the Pacific. The contract calls
for twenty thousand dollars a mile as the
construction price, and the contractors are
to be paid in the mortgage bonds which
were authorized by the company at their
meeting last week. Bonds to the extent
Of $25, 900 a mile were authorized, but the
additional 5000 above the contract cost
per mile is to inure to the benefit Of the
treasury.
The contractors have organized into a
corporation, for which charter by Con.
nectiCut is asked, or has already been OBJ.
tanned. Just who they are is not ascer.
taiNahIa a FRnuank
Jay Gould, Russell Sage and Sidney Dill.
lon are the most conspicuous New York
members OF the Syndicate. Mr.. Hunting.
ton represents large Boston interest, but
the largest contributors, Major Bond says.
are German capitalists, whose interests
certain German bankers in New York are
representing.
Major Bond was very particular 10 say
that Mr.. Gould's share was not large
enough to constitute a controlling inter
est, the German capitalist really owning a
majority. He said also that the Texas and
Pacific were not troubling themselves
about the Pacific terminus OF the road,
lines through the Northwestern States OF
Mexico, opening up population Of ten
millions, and a country rich in agri-
cultural and mineral resources to railway
facilities, not to speak OF the undeveloped
possibilities o. the United States territory
bordering on the Rio Grande, being
enough to satisfy any present ambition
Ior extension.
Other gentlemen interested In railroads
regard the new step in somewhat dif.
Ierent light. They say that Colonel Scott
becoming tired ofinpottuningCor Congress- for
Congressional aid, he hesitated long be.
'ore entering into any negotiations that
would defeat what had been announced
as oneof the prime objects OF the new line
"a competing trans.continental system,
He knew 1t would be worth large sac.
-ifice to those owning the Central and
Union Pacific lines to obtain control Of
any new Pacific scheme, and that II con.
'tructlon projects were opened 10 outside
bidders the capitalists owning those roads,
with the knowledge OF the certain profits
and success OF the enterprise, could take
no better way to secure control than TO
bid at lower figures than any less accurate
y informed Syndicate would be able 10
10. Dalliance with Congress having been
without result, the offers to outside bid.
lers has resulted just as he foresaw.
The cost Of completing the road to Ii
Paso will bring its total stocks and bonded
ncumbrance per mile up to little more
han one-third of those OF sister roads.
This, under independent management, it
may easily be seen, would give it great ad.
vantage in competition for the trade, with
the same management as those
of other roads, and with combination in.
stead Of competition. No important con.
:essions to the transportation interests are
g be expected, and 1t is believed that Mr..
Huntington, with Mr.. Gould's aid, will
furnish the Pacific connections and own
the line.