St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-08-13
READY TO SELL OUT.
The Minnesota & Northwestern Road to
be Sold to the Illinois Central
Railway Company.
Report of the Proposed Sale Credited by
Those Acquainted with Mr..
Stickney's Plans.
Work on the Burlington's New Line
TO st. Paul TO be Commenced
Immediately.
A New Company Formed to Build n
Line TO Chicago for the Wis.,
consin Central.
minnesota & Northwestern.

There was a rumor in railroad circles
yesterday that A. B. Stickney, president of
the Minnesota & Northwestern road. had
nearly completed arrangements for the dis
posal of his road to the Illinois Central
Railway company. The rumor originated
in Chicago, and a certain railroad official in
st. Paul late yesterday afternoon received
a private dispatch from Chicago stating
that there was a report there, which was
generally credited, that the Illinois Central
would become the controller and owner of
the Minnesota d Northwestern road within
a few months, the time not vet being def
nitely known. The contents OF this dispatch
were confided to only few, and though il
caused good deal of speculation, il was
the general belief that the rumor, if il was
only such, was not far wrong. 1t was fur
Their alleged that Mr.. Stielmey's recent visit
TO New York was for the purpose of seeing
a number Of the stockholders in regard 10
this matter and arrange things satisfactorily
with them. William Lewis BOYLE of Win
nipeg. director of the company and largely
interested in it financially, made some
remarks, it is claimed. when he was in
st. Paul some time ago that gave an i'm
preston 10 certain parties that a certain
price was asked for the property, and if
that was given the road would be sold.
None of the local directors know anything
of the actions of Mr.. Stickney. as whatever
he does the directors consider well done.
1t Is claimed that at the annual election of
directors on June there was tacit under
standing among them that if a sufficiently
good offer was made for the road by any
other company it would be disposed of.
All the investors have considered the road
piece of property to speculate on, and
hon H.
President Stickney is now at Dubuque with
eX-President Alderman of the Illinois Cen
tral, and this strengthens the idea that
A SALE Is To BE MADE.
Local officials of the line knew nothing
about Mr.. SticIney and the reason of this
"trip TO Dubuque, more than that he was
down there, and, they believed. looking
after his interests in building the Dubuque
q Northwestern road. While the report
| that all arrangements for the disposal OF the
Minnesota d Northwestern may be prema-
ture, il is likely that it will be sold. Some
believe that by Jan. l, 1856, the Minnesota
N Northwestern will be a part of the
Illinois Central and operated as such.
The Illinois Central is now large sys-
ten, and well-bac1ed financially. and, with
the other large systems must in time have
its own line TO the Northwest and become
direct competitor for the wheat and mill
ing traffic. BY securing this road it would
have splendid line, one which would give
it direct connection to all Southern points.
what it has been waiting for some time
past. Mr.. Stickneys motley is well Known
to railroad men. OF the many railroads he
has built, not one Of them did he build with
the intention of operating them as independ-
ent lines, but built them for speculation.
and he has made money by doing so. He
has all along claimed. however, that the
Minnesota IL Northwestern would be oper-
ated entirely by tho Minnesota d North
western Railroad company. and that no
other corporation would have control of the
line after it was in condition to be operated.
\ certain gentleman well acquainted with
a. b. Stickney's affairs regards the rTmOr
given above as highly probable, and when
asked his opinion as 10 Mr.. Stickney's
course after dispOSing of the road, said he
believed he would continue scheming,
and inside of year or two
would have new line planned
Mr.. Stickney's actions are very difficult TO
understand. If he had intended selling out
it Is rather a queer thing that he would
| have contracted to build and equip the
Dubuque IL Northwestern. 1t was his in
tentiOn to push the work on that line and
have it completed this season, but in a
recent conversation with GLOBE reporter
he stated that he would not build more
than eight miles of the line this season. 1t
might be that he is doing this to get the
work in such a condition that he will have
! TO pursue ii TO completion. and took this
contract knowing that by next season he
would have nothing else TO engage his at
| tention.
1t is regarded by well-posted railroad
men as property worth upwards oft
So, 500. 600. The line so far has cost abou
| $500. 600, or 4 little over $50. 600 per
mile, and when trains run into St. Paul Il
will have cost about 81. 500. 600. The
rymor has led TO much speculation. and de-
yelopments are awaited with interest.