Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-01-21
The Boom Il. Wisconsin Central.
milwaukee Special Jan, ~ Chicago Tribune

lMIIWdukee Spcclal (JaIl. III CuiCHSO 1IlDunc.j
It turns out that the recent boom in Wis
consin Central stock has a more substantial
basis than mere speculation. The common
stock suddenly jumped from to %, with a
prospect of going still higher in the market
as soon as the public Is assured Of the result of
the recent negotiations and arrangements en-
tered into between the Central and the North
ern Pacific. President Charles L Colby. of the
Wisconsin Central, has been absent in New
York for the past two weeks, and has just re-
turned to Milwaukee. He admits that the OBJ
jcet of his visit was to make an arrangement
for connection between the Northern Pacific
and the Wisconsin Central, which was con-
summated. The contract for the work
will be let within ten days,
the money raised on the ESQ, 100000 OF
bonds issued; and everything indicates a
speedy commencement of the work. The
faith of capitalists in the scheme Is demon
strated by the fact that the bonds sold for 102,
and it is probable that the road will have
crossed Wisconsin before the end of the pres
ent year. 1t is now assumed that the junction
of the Northern Pacific will be made with the
Wisconsin Central at Ashland, thus bringing
Milwaukee and Chicago in direct communica-
tion by "a IL with the immense new country
that is to be penetrated and developed by the
line of the Northern Pacific.
1t is now thought that this newly secured
prospect Of connection between the North
ern Pacific and the Wisconsin Central will
stimulate the st. Paul company to continue
effort to gObble the Central and add it to Its
already extensive system. Such scheme was
on foot last summer, and the st. Paul officers
made tour of inspection and observation
over the line of the Central; but
for some reason the negotiations
were broken off when near
realization. Now that the Central has pros
pective union with the Northern Pacific that
has multiplied its stock by four, its 400 miles
of completed line and its large and valuable
land grant will look like valuable property
and a desirable acquisition to the bold oper-
ators who at present dictate the policy and
control the management of a company that
already operates the longest aggregate lines In
the world. What lends additional probability
to the contemplated scheme Of absorption by
the st. Paul company Is the fact that the
Hon. Alexander Mitchell, the president, is
one of the syndicate of bankers who, recently
in New York, put their heads and their purses
together, and pledged the SAC, 000, 900 necessary
But whether the rumored purchase of the Wis
consin Central by the st. Paul has any founda-
ton in fact or not, 1t is quite certain that
President Colby is altogether satisfied with the
outcome of his recent visit to New York, If it
is only confined to his relations with the
Northern Pacific. The st. Paul company have
long contemplated a junction with the North
ern Pacific at Bismarck, but it is not now i'm
probable that the connection may be made
sooner and more conveniently on Wisconsin
soil. Chicago has great interest in all these
proposed negotiations, because the st. Paul
company is now practically Chicago corpor-
alton with all that the term implies, and the
adding of the 400 miles of the lines now own
ed and operated by the Wisconsin
Central, running from Lake Michigan to Ash
land on Lake Superior, would be simply adding
so much more line of railroad to the grand
system centering in this city. Besides, this
scheme of consolidation is only the initial
movement for grander and still more gigan-
tic one that is already in its incipiency In the
fertile brains of certain railroad magnates-to
wit: the consolidation of the Northern Pacific
with the St. Paul as soon as the two com.
panies arc ready for such startling consum.
nation. Consolidation seems to be the rail-
road motto Of the present time.