St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-12

He returned home, and no one was from
that time able to make out the purport of
his visit. 1t is now learned, on the au-
thority of high Bank of Montreal official,
that while in that city he concluded ar
rangementS with the institution and with
the Pacific Railway company for the imme-
date construction of the Minneapolis,
Sault Ste. Marie Il Atlantic railroad. The
Bank of Montreal. one of the strongest
financial institutions in America, has, it is
said,
AGREED TO LoAN
the Minneapolis company, with the Cana
dian Pacific company as surety. and upon
the further security of the bonds and effects
OF the proposed new road. the sumo S.
600. 0G0. 1t is understood TO be joint
scheme of Minneapolis capitalists and the
Canadian Pacific management including
the St. Paul. Minneapolis & Manitoba COM
paRy, by which the lines, for two years in
course of construction, known as the
Minneapolis, Sault Ste. Marie 6 Atlantic
shall al once be built or completed SO as TO
enable the Canadian Pacific to reach Mime
apolis by way of Sudbury Junction, Algoma
Mills. Sault Ste. Marie, etc., and so as to
give Minneapolis direct outlet to the
Atlantic, with saving of over 800 miles
over the present route. When the new
line is built the st. Paul, Minneapolis &
Manitoba will become part of the same
system, and the road from Winnipeg via
Minneapolis, the Sault and Montreal will
be Y
UNDER ONE MANAGEMENT,
viz: the Canadian railroad. 1t is well
known that the st. Paul, Minneapolis a.
Manitoba is controlled by The directorate of
the Canadian railroad, with the exception
ef j. j. Hill, who is nevertheless heavy
stockholder in the latter line. The pro-
posed new line Twill be a little over 400
miles in length, and will run from the ter
minus of the st. Raul, Minneapolis & Man
itoba in Minneapolis, via st. Paul, east
ward, touching the town of Florence on
the boundary line between Michigan and
Wisconsin, which is a central shipping
point for the iron district, then to the Sault,
crossing the Detroit Mackinac 81 Mar
quette at or near Newberry, Mich The
Minneapolis prOprietOrs to the compact are
Gen. Washburn, Thomas Lowry of the
street railway, j. De Laittre, Miller and
others. all heavy stockholders of the Min
neapolis d Sault road. Already the Min
neapolis, Sault Ste Marie Il Atlantic have
120 miles of the new line completed and in
operation. This includes forty miles from
ST. PAUL EASTWARD
of the Omaha line. over which they have
for the present running powers, which
leaves considerably less than three hundred
miles to be constructed to reach the Sault.
The estimated cost of this line is about
IS, 200. 600. On the Canadian side the Canada
Pacific railroad has already been extended
from the main line at Sudbury Junction tC
Algoma Mills. so there is but sixty miles vet
to build in order to reach the eastern termi-
nus of the new line from Minneapolis
The two roads at the Sault were to be con.
nected by an International bridge to cost
$500, 600. to be constructed jointly by the
Minneapolis and Canadian Pacific railroad
companies. The latter has engaged to com
plete its extension
DURING THE PRESENT YEAR,
and the former by the spring of 1887. The
contract for the bridge is TO be let in few
months, and it is understood that st. Louis
parties are already at work upon the plans.
Some OF these particulars may be incorrect,
but they are as stated by an official of the
Bank of Montreal to a Canadian member OF
parliament. One thing may be relied upon
and that is that Mr.. WaShburn, president OF
the Minneapolis & Sault Ste. Marie road,
has come to definite arrangement with
the Canadian Pacific company, by which
the Bank of Montreal is to furnish the
funds required to push his road to compile
ton at the earliest possible date. 1t is aIse
quite certain that the ST. Paul, MINNEAPOLIS
q Manitoba people are into the scheme as
corporation as well as members of the Cana.
dian Pacific Railroad company.