New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-01-26
PRICE FOUR CENTS
RAILROAD INTERESTS.
PURCHASED BY GOULD AND HUNTINGTON
CONTROLLING INTEREST IN THE ST. LOUIS AND
SAN FRANCIsCO PoAn sprD

PURCHASED BY GOULD AND HUNTINGTON
CONTROLLING INTEREST IN THE ST. LOUIS AND
SAN FRANCISCO ROAD SOLD.
u T. Huntington and Jay Gould together have
bought controlling interest in the ST. Louis and
ean Francisco Railroad. The negotiations have
Oceh conducted by Mr. Huntington in the interest
Oh the Southern Pacific and on Tuesday night Mr.
uouid consented to the purchase and accepted one
haif of the amount. The exact terms of the pnr
chaSe have not been made public, but the buyers
take majority of the stock Of ;hc company at
about the market prices The money WAS paid and
the stock delivered Yesterday The announcements
caused some excitement on the Stock Exchange.
ana prices Of ST LOnis and San Francisco and of
Missouri Pacific recorded considerable advances
Inc transaction assumes great impor; snce because
inc 81. Louis and San Francisco Company IL inter-
esfed jointly with the Atchson Toaeka and Santa Fe
Rallroat in the building OF the Atlantic and Pacific
Railroad 10 the Pacific coast. This company was
chartered by act of Congress on July 81, 1866. TO
build railroad from Springfield, No. By way OF
Albuquerque and Colorado Chiquito on the 3Jth
parallel. to the Pacific Ocean. The original COM
pany completed the road 10 Vnta where a connoc
non IS now made with the Missouri Kansas and
IeXas In 1876 the ST. Lonis and San Francisco
Company was organized and the property Of the
previous organization was bought by it nnder fore
closure proceedings. Within two years the st.
Louis and San Francisco and the Atchison
Topeka and Santa Fe Railroad Companies entered
mo an agreement for the extension of the line
IRON Albuquerque westward 70 the Pacific coast, and
all the outstanding share capital OF the Atlantic
and Pacific Company, amounting 10 10000, coo,
was placed IN trust for the benefit Of the two com
piiies I & rlrSt mortgage SIX per cent bonds at tho
tlOn OF the road. The payment OF the interest on
these bonds was provided for by both companies
agreeing to devote % per cent of the receipts of all
traffic with the Atlantic and Pacific The road has
been completedabout 800 miles west of Albuquerque
and construction has been pushed rapidly.
The active prosecution of the enterprise threat
ened the Southern Pacific on one hand, aud tho
geographical situation of the ST. LOuis and San
Francisco between the railroads composing tho
oouthweStefh system was cause of nneaSineSs 10
the managers OF those roads. The building of line
INTO 81 L9nls from Pacific, Mo, and the o3ntem
dated extension OF the Fayetteville branch into
Texas were opposed by the Southwestern roads, IL
i understood that before Mr.. Goulds last visit 10
the Southwest the managers of his lines offered TO
make pooling arrangements with the 81. LOUls and
San francisco, and that the offer declined. For
several months officers of the Southern PacIac the
Atlantic and Pacific and of the two companies
building it have conferred IN regard To stopping the
construction of the line and making connection
with the Sonfh@rn p9aciIhc near Ie Colorado River.
The Southern Pacific offered, among other things to
make q pro rata division on through business. be
negotiations have not been concluded and it was
said recently to be doubtful whether any agree
ment would be reached.
The purchase of the control of the stock Of the st.
Louis and San Francisco road probably puts an end
10 lltBOlldllOns he company mas lOlnt Inter-
est in the new line. and the new management, with
the consent of the Atchison, Topeka and Santa Fe.
Will not extend 1t further than 10 connection with
the Southern Pacific near the Colorado River. IL is
not understood that the plans of the new owners
have been fully arranged yet.
The banking house of j. & W Seligman x Co.
has held large amount of st. Louis AMI San Fran
cisco tOck tor several years, and IL through it
that Mr. Huntington aud Mr.. Gould made their pur-
chase. part OF the stock sold belonged to other
persons. some Of them being Boston men, but tho
great bulk of the stock furnished by the Selig-
mans. at their Office Yesterday it said that
they still retained "A small interest III the stock.
The price paid for the stock not made
known. The capital stock is S25, ,000, 900; divided
INTO common stock, $40, 100000 preferred stock,
$4,000, 900; and first preferred, 81 100000 It's
said that the purchase included the three kinds but
In what proportion it could not be learned A ma
jOTty Of the stock in the lower issues at the market
price yesterday would cost aboat $4,000 900.
f. +. WlnSl0w, president of the ST. Louis and san
Francisco Railroad said in relation to the matter:
am officer of the company, and, a officer
of the company, can have no cOgnlzance of bar
gains between private persons: as an Individual,
know nothing"
1t is not expected that any changes in the execu-
tive management of the company Will be made lnis
IUpulltelV,