Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-05-02
The Ee,cs IN st Paul.

Upon the receipt of the above last evening
a GLOBE reporter was sent to the residence
Crawford Livingston, gentleman who was
known to be a large stockholder in the Min
neapolis & St. LOUIS road and likely to be fully
posted if anything important had occurred.
Mr.. Livingston was found at home.
having lust returned from Minneapolis, where
ne had spent the day on the business OF the
road. On beng shown the telegram he
smiled in an Intelligent manner, which gave
the reporter assurance that he WAS on the
right track.
eyes" said Mr. Livingston, in response to
the query, "the Minneapolis q st. Louis road
has been sold to parties who are the leading
owners Of the St. Paul & Omaha and Chicago
& Rock Island roads"
"When did this take place." quoth the re-
porter.
"The sale was consummated at directors
meeting 10 Minneapolis between and 6
O'Clock this afternoon"
"Was any change made in the organlza'
tionS"
Certainly. Mr.. W. D. Washburn's resig'
nation as president was received
by telegraph, and r. R. Gable. the
leading officer of the Rock Island road
was elected IN his place. have
here list OF the new directors ire
ferring to a memorandum Messrs.
G. H. Petit, H. T. Welles, J. K Stdle, W. P.
Hawkins and W. D. Hale of Minneapolis, re-
rigned, and R. R. Gable and H. H. Porter of
Chicago, Benjamin Brewster of New York, T.
F. Wlthrow of Rock Island, and G, D. W.
Young of St. Paul were elected in their stead.
The old directors, who still remain in
the new board are, are w. W. McNAir, w:
D. Washburn, Minneapolis, and A. B. Stick
ney, and W. r. Merriam Of B.: Paul"
"What effect will the new deal have, Mr.
Livingstone"
cit will at once make st. Paul the terminal
point of the Minneapolis & st. Louis and
Chicago & Rock Island roads, as the ar
engagements of the Omaha road with the Man.
itoba line gives that company a track from
Minneapolis to St. Paul. 1t will bring the
solid Rock Island trains from Chicago into
St. Paul, besides giving US the advantage OF
the coal on the Minneapolis & st. Louis"
as there likely to be formal absorption of
the Minneapolis & st. Louis road by the other
roads, or will it be kept as q separate organi.
zation?''
''For the time being, at least, it will un-
doubtedly be separate organization, but
the ownership will be SO interl nkei that it
will be practically made part Of the Omaha
system.''
"What is the amount OF stock and bonded
indebtedness of the NJ & St. L. lnes"
"The bonded debt is less than $1,000 per
mile, and they are authoriz d 20 issue $4,000
OF preferred and SIS, 600 of common stock per
mile but only portion of this has been issued
there now being in the treasury from 81 100000
to sl,40a,000 OF common and 100000 to
$500 900 of preferred"
chow does this compare with the bonded
debt and stock of the Omaha company"
"The bonded debt Is about the same, per-
haps a little less than the Omaha. The
authorized stock of both roads 10 the same,
but the Omaha stock is all issued,
while there is nearly two million OF the NJ. &
ct. L. held In the treasury. This is cash
asset which makes the NJ. & St. L stock even
more valuable than the Omaha, Of which 1t
now practically forms part"
1--WE get no quotations OF the NJ. & st. L.
What is It's value!"
"There have been very few transactions, the
stock being in few hands, but those that have
occurred have been between 60 to 70 for pre-
frrred and between 20 and 80 for common"
"Do you expect it will bring the stock up
to the Omaha stockP
~ see no reason why 1t should not go even
higher. Omaha stock sold to-day at 81 for
common and at par for preferred, and as there
is good deal less OF Minneapolis & st. Louis
ont per mile than OF Omaha, and as the stock
will undoubtedly be exchanged share for
share, there is no reason why Minneapolis &
st. Louis should not sell at the same figures
as the Omaha tomorrow"
"But matters don't always run according
to reason. Do you think it wiu sell
the same tomorrow"
1T may not tomorrow, because the mat.
ter may not bs generally under
stood in Wall street, but 1t
will go even higher in a short time. The
s2,OO0,00O stock will enable scrip dividend
to be declared. II that is done it will be good for
an advance OF 90 to Is points over the Omahs,
which would be about the same as the Rock
Island, which sold to-day at s1.2SX.
As the reporter had been thinking OF buy.
ing the Omaha road, he ventured to ask what
effect all this would have on that stock.
To this Mr.. L. replied that 1t ought to
largely advance the Omaha stock on the
great increase of its business and there
would undoubtedly be a boom all around,
He added, however, that on second thought
he believed that some of the Omaha stock was
still in the treasury, and to that extent he
must qualify his previous answers.
As a professional reporter never qualities
anything, he babe Mr.. Livingston good night
and stepped out Of his hospitable mansion
into the moonlight, fully impressed with the
idea that this last victory which st. Paul has
scored, was further indication of the mani
fest destiny which places this city ahead OF all
competition, and with naught to modest or
make afraid.
Twas ever thus with this big town.
Peace hath her victories no less renowned
than war.
Chamber OF Commerce.
at the meeting yesterday Drs. Murphy and
Wheaton called attention to tbs meeting of
the American Medical association In this CITY