The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-12-16
TELEGRAPHIC NEWS
Railway Racket.

As4AA " ~ 8os4~@AN0S
Duluth. ID. Duluth s. Winnepee
railroad stockholders have made revo-
luton in the management Of the road. In
1881 the original iDcorporators, all resi-
dent here, arrsnged with Boston cspi-
talists by which The latter were TO issue
ga shares of stock to each incorporation,
and complete the road They failed to
do either, and being unable to sell the
bonds, completed only nine miles.
Nothing was done for year. The in
corporators therefore acting On the offers
Of their company yesterday, out-voted
the BostUn men and elected directors
who elected w. w. Spalding, president
A. II. Miller, vice president, and j. @.
Hunter, secretary and treasurer. This is
believed to be great surprise to Eastern
capitalists.
New York, 15.-The Tribune reports
Commissioner Fink as saying, in the re-
cent conference here railroad men
settled no points in dispute. but merely
restored rates. The territorial question
is incorporated in the peace compact in
no way whatever. No understanding
he's been reached which will limit extern
sions by any Of the roads.
OulNOkOs Ii IL bbdbC0 1OAO b0dI
Vanderbilt has become leading spirit
in the scheme recently considered at the
Joint session Of the directors of the Pitts
burgh, Yougheogheny and McKeesport
Railroad, 10 carry out the proposition of
the directors of the Philadelphia and
Reading Railroad. and construct new
south Pennsylvania line. Twenty mill
lion dollars Of bonds will be provided
for by the Vanderbilt interests, and the
proposed line will parallel the Pennsyl-
vania line from Pittsburg to Harrisburg,
and make an additional though line
from New York to Chicago. This is an
old idea worked out on new plan.
Chicago, 15.-President r. Q. Cable,
of the Rock leland Railroad, is authority
for the following dispatch from New
York of the 18th, stating that settle
ment of the northwestern railroad wal
percentages had been agreed upon, on
the basis of tue Rock Islands Albert
Lea route accepting % per cent. Of the
| ST. Paul business. This is incorrect
The arrangements in the rates is, thai
rates be maintained, and that on passen.
ger business, each road may get Wha
they carry, but the proposition Of the
other roads to abolish commissions, wa
positively rejected by the Rock Island
and the question of per centages wa
abandoned in final settlement,
| New York, l5.-The Post says: TIL
fact is settled beyond dispute that thu
Omaha company has passed into tn,
control of the Northwestern, but al
statements of how the transfer Of contro
is to be completed-whether by lease o
consolidation, and all statements of VIVA
iofdcers are to resign and what new one
take their places, are premature; evel
the question of how the control is to b
transferred to the Northwestern, is no
to be decided for some weeks. Tn
Omaha company holds 8 meeting 8
which some Of the preliminary wor
toward these ends may be accomplished
The NOrthwetern, as q company, ha
taken no action as yet.
The deal in Pacific Mail progress
among q few prominent individuals, esc
largely interested, but the pub ic outsid
of these few are not trading in the stoc
largely. It IS intimated, hs eyer, thi
g complete change in the ownership al
control and connections of the Pscif
Mail is one Of the probabilities Of Il
near future,