New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-02-24

IMPORTANT SCHEME IN THE NORTHWEST.
A SYNDICATE BUYS CONTROLLING INTEREST IN
THE ST. PAUL AND SIOUX CITY RAILROAD
FORMING NEW CORPORATION.
A company of prominent railroad men has secured
control of the St Paul and Sioux City Railroad.
This syndicate is composed of r. p. Flower David
Dows Josiah NJ. Fiske, Heber R. Bishop, Benjamin
Brewster, William Schley. George /. Seney
Charles J. Osborn, Henry Seibert, Dennis
c. Wilcox, VI. L. Sykes and Samuel Hawk. OF New
York Philetus Sawyer Wisconsin II. II. Porter
and William H. Ferry Chicago; II. r. Cable and
p L. Cable, Rock Island 4. F. Drake, A. II. Wilder
apd J. l.. Merriam, 81. Paul; and jacob Humbird
Cumberland. Md. These persons have bought 10000
shares. controlling interest in the st. Paul and
Sioux City road. for which they have paid. for the
common stock 40, and for the preferred stock so
They own, at the same time, a controlling interest
in the Chicago, st. Paul and Minneapolis aud
the North Wisconsin railroads. From these three
companies IL is proposed to form new corporation
which will be called the st. Paul, Omaha and Chi
cagO Railroad Company he terms OF the CONSOLE
dation have not yet been agreed upOn but it is said
by prominent members of the syndicate that there
is no doubt Of the union Of the three companies
The preliminary agreements have been signed, and
tho completion of the proposed union is simply
matter of detail Several members of the syndicate
VIII leave New-York on Friday for the purpose OF
inspecting the lines.
II has been said that the roads would fall under
the control of the Chicago and Northwestern Com
pany. This was denied yesterday by members OF
the syndicate who said that the new company
was formed in the interest of no railroad organl-
zation. Among the members of the new company,
the Chicago, St. Paul and Minneapolis Company is
represented by II. II. Porter and William II. Ferry,
its president and vicepresldent the et. Paul ana
Sioux City. by f. f. Drake, president John l.. Mer-
ram. vice-presdent, and A. III. Wilder. one or the
W. l.. sykes, vce-presldent, ana DAVID
Dows. r. p. Flower and Charles j; Osborn
are directors of the Chicago and North
western, and David DowS, yice-presdent, K.
F. Flower. Benjamin Brewster and K K;
Gable directors of the Chicago Rock Island ana
Pacific Company. ! he North Wisconsin Road has
been operated in connection with the Chicago, 81.
Paul and Minneapolis Road and the same persons
represent both interests in the new organization
The consolidated company will run line OF road
81 miles in length. of which about 200 miles are
in process of construction. The extension OF
the Omaha and Northern Nebraska ROad,
which was acquired recently by the St.
paul and Sioux City Company, is now under
contract, aud Will give a continuous line from st.
Paul to Omaha where IL VIII connect WIN the
Union Pacific and with the Southwestern railroads.
The North Wisconsin Road is now in operation from
Hudson on the line of the Minneapolis R0ads TO
Granite Lake. 1t is proposed TO extend the
road to bayfield,, on Lake. Superior, acI
cordinR to the plans Of its original
projectors. The distance to be built to complete
this road is about 135 miles Ii Is proposed also by
the friends of the new company 70 extend tne Mll.
lis Road eastward from ElrOy to the shores of
Lake Michigan The traffic arrangement with the
Northwestern Road. with which 1t connects at
ElrOv will not be terminated at present.
When the road with these projected extensions
shall be completed, it is claimed that the fixed
tcharges will amount to only 500 mile, or the in.
crest at @ per cent a little over Sl2.OOO OF
bonded debt mile tits said that the distance from
Omaha TO New-York by way of ST. Paul and the
lake is less than by the way of Chicago The friends
of the enterprise believe that the emigration 10 TINS
traffic will make the property valuable. BY
the consolidation the Minneapolis Road secured
of The S,oux CITY Road. That company is said to
own there property worth $1,o000Oo. and, except
the Chicago, Milwaukee and ST. Paul Road, Is the
only roqd that can secure proper terminal accommo-
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