Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-30
A ZIG BONANZA.

Wimdont Elected President Of a Ee,O Neat
can Road at a SALARY of $.5, 900 Year.
. Washington Special to the Boston Herald
Private kilograms from New York to-
night state that, at a meeting of the direc-
tors and stockholders of the Topolovempo
q Pacific Railway company, of Mexico,
held in that city this afternoon, ex-senator
William Window, of Minnesota, was elect
ed president. His salary, it is understood,
Will be $4,000 year, and for the first four
years will be paid in stock. Among the
American directors of the railroad are
frederick O. Prince, WINDOWS predecessor
in the presidency of the road,
Josiah G. Abbott and Gov. Benjamin F.
Butler. Among the stockholders, beside
the gentlemen named, are George w. Sim
mons of Boston; .. S. Grant, Jr., E. A.
Buck, of New York; A. L. Owen, of Penn
sylvania; Joseph E. Brown and John B.
Gordon of Georgia and William Window
of Minnesota. The Mexican directors are
prominent men closely connected with the
government. They are DR.. Ponsbo, DR..
Ramon Fernandez, Senior Francisco NJ. de
Trida, Senior George Hameken Media,
Senior Francisco Baipez, Senior Manuel Ro-
nero Rubio, Senior Edward S. Herrera.
This company has recently secured several
new concessions from Mexico. They are
as follows: First, extension of time for
! completion of surveys and construction for
about three years; second, grant of subsidy
of $4,000 mile to the branch line, from
the main stem to PRESIDED del Norte; third,
the right to construct branch
lines from either side of the main line, and
branches not to exceed 100 miles in length.
with like subsidy per mile; fourth, the pay
ment of such subsidies direct from the ma
tional treasury or by assignment of per-
cottages on duties collected by the GUS
toms authorities of Sonora, Siroloa, Chi
huahna and Coahuila; fifth. cession of the
lands, islands, rocks and fats in the bay of
Topolevempo, adjacent to and for the ben
eft of Gonzales City; sixth, change of the
security for the construction of the road,
on the withdrawal of the 100000 deposit
already made by the company in the Monte
ton of the completed road to deposit of
100000 in the company's bonds on a
mortgage on its cable, when completed,
across the gulf of California to La Paz.
The company is organized under a general
lNn VI buO obdGO VI OBSERVATION-DISCLOSURES dutlCE-
izing construction of railroads in foreign
countries. The whole amount of capital
stock is only 100000, all of which
has Eeen sold at par for
cash, except about $4,000 worth re-
naming IN the treasury. 1t is proposed
to increase the stock to 100000 III all.
The purpose of keeping the stock at this
low figure is TO facilitate management. 1t
is the purpose of Mr.. Window to construct
the road without the intervention
of a construction company, and
without giving out contracts at
expensive rates. tt is proposed to COM
mence at an early date the construction of
the road from Mazatisn to Alamos, and
from Topolovempo bay to the Rio Grande,
and its coast line surveys have been made
and approved by the government of Mexico
OF portion of these lines. It is believed
by the directors that, with the deposit in
the Monte Piedad, which comes back to
the company on the completion of the
first thirty-one miles of the road, and the
accruing subsidies, together with the
amounts accruing from sales of stock re-
naming in the treasury of the company,
the first fifty miles of road. may be compile
ted without resort to sale of bonds.