Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-02-16
TWO NEW PURCHASES.
The Chicago, Mil,caMlee & st. Paul Com
panv Secures Control of TtcO Important
Feeders.

Feeders.
fChicago Tribune.
Some time ago the Milwaukee u st. Paul
Railroad company made proposition to
the people residing in that part of Iowa be-
tween Cedar Rapids and Ottumwa to build
road between those points, provided local
aid to the amount of $25O,GOO was granted.
The proposition was favorably entertained
by the people, who voted aid to the amount
of 100000, or $4,000 more than was de-
manded by the Milwaukee & st. Paul. Con-
sequently the proposed road was incorpo-
rated as the Cedar Rapids, Sigourney d. Ut
tumwa, with Gen. J. M. Hedrick, of Ottum-
wa, as president. About twenty-five miles
of the new line are already graded. The
Milwaukee & st. Paul, however, has shown
no disposition thus far to make arrange
ments with the directors of the new llne
To get the matter into some shape and to
find out what the Milwaukee & st. Paul
means to do regarding the matter, the
president. and directors Of the Cedar Rapids
& Ottumwa company came to this city yes
terdsy, and held meeting at parlor l,
Grand Pacific hotel. There were present,
J. M. Hedrick, of Ottu nwa, president; Judge
N. M. Hubbard, of Cedar Rapids, vice-pres-
ident; and the following directors: Messrs
Upton, of Cedar Rapids; Yerger, of Sigour-
ney; and Hamilton, Blake, Carpenter, Bon
niield, Mahon, Da ggett, Leighton, and Hack
worth. None Of the managers of the Mil
waukee & st. Paul turned up at yesterdays
meeting, and consequently no action was
taken. Another meeting will be held to-
day. The Cedar Rapids, Sigonrney q Of
tumwa railroad is to run from Cedar Rapids
to Ottumwa via Sigourney, distance
of ninety miles. through one of the
richest and most prosperous sections
in Iowa. The agreement with the Milwau-
kee & St. Paul is that the latter build, and
equip, and operate the new road, making it
an extension of its Western Union branch,
on the condition that $250,000 of local aid
be raised along the line. The amount has
been raised and guaranteed, as already stated.
The directors mean to take such action to-
day as will insure the commencement of the
new road in the early spring, and it's COM
pletion for operation by January 1, 1881. If
the Milwaukee & st. Paul refuses to con-
struct the line as agreed, the directors will
take independent action and the road will be
built anyway.
The annual meeting of the stockholders
of the Burlington, Cedar Rapids & North
ern railroad will be held at Cedar Rapids,
February "a. This meeting will be of more
than ordinary interest, because it will
determine who is to have this prop
erty. AS is we'll known the Chicago d.
Northwestern some months ago made an ar
rangements with the directors for the lease
of the road, but afterwards the directors re-
considered their action and leased the road
to the Rock Island, subject to the approval
of the stockholders. The Northwestern,
however, smarting under the defeat it had
suffered, did not propose to step down and
out, and consequently made efforts to secure
enough to change the majority and upset
the arrangements made with the Rock Isl
and. The latter was not idle either, and
bought up all the stock it could get to pre-
vent the Northwestern from playing coup
d'etat. The Burlington and the Milwaukee
& st. Paul, it is said, have also got hold of
some of the stock. 1t is claimed that there
have been such changes in the
ownership of the stock dur
ing the last few months that
most likely the arrangement made with the
Rock Island will be upset. Neither of the
four lines who took part in the fight, it is
said, will have sufficient strength to secure
the property, and consequently the owners
will be allowed to run the road independ-
emily for the time. The final outcome,
however, it is believed, will be cutting
up of the Burlington, Cedar Rapids q
Northern, each of the contesting COM
panies taking a slice. The Burlington &
Quincy will probably get the southern end
from Burlington to Columbus Junction,
which will enable it to keep competitors
out of Burlington. The Rock Island is to
take the portion between Columbus Junction
and Cedar Rapids, with the Muscatine &
Pacific division, and the Northwestern is to
have the northern end from Cedar Rapids
to Albert Lea, and the Milwaukee & st.
Paul is to get away with the Milwaukee
division, which would extend the Prairie du
Chen line direct to Cedar Rapids.