Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1889-03-29
THE NORTHERN PACIFIC WILL LEASE
THE WISCONSIN, CENTRAL,
Making . Through Line 81 Road from
Chicago to the Pacific Coast.


5zs; 4fss2l
PHLADEIPHIA. March 2a.---A treporte. of the
inquirer to-day learned from 4 well known.
railsoau man that the HoI.hen Pacific Railoar
eompay has at last secured control OF the
Wisconsin, Central railroad aud through it an.
entrance to Chicago. Tho directors Of the
company Will hold a. special meeting in New
York on Wednesday TO formally approve: the.
lease, but Will be pnrclya formal matter, a.
the directors arc unit on tho question, and the
company is in pratieal control of the Wisconsin
centrafs lines. c. c. Wheeler. formerly general
manager of tho Atchison, Topeka & Santa Fe
railroad, has spent three months in an examina !
ion ofthe property, connections and accounts
Of the Wisconsin Central company. He went over
every Ialle OF the main line and its allied
{bTanches inquired into It's resources and traffic
connections. and finally madea detailed inyel,-
tory Of the property. even down 10 the number
af gallons Of oil In the supply shop The result
Of his Investigation has been compiled in an
exhaustive report. which viii be submitted 10
The board on Wednesday. In it he recites the
reasons why the acquisition Of tho Wisconsin
central road ,.s.s.s5 b.. Evrs ~ : y y
~ *. . WILL BE An ADVANTAGE T. -,
to the Northern Pacific company. The Chicago,
Burlington & Quincy. the Northwest. the St.
Paul and other lines entering at Chicag"
hrc reaching out westward for traffic and viii
In his opinion. ultimately reach the Pacific
coast and become transcontinsntal lines. The
Canadian Pacific has a Chicago o,tlet and 50
have all the Pacific coast lines. Ifthe Northern
Pacific Is to maintain Its position 1t have equal
facilities, and MI Wheeler sees No other line but
the Wisconsin Central that can afford the
Northern Pacific its needed outlet. The road
be says is in first class condition IL possesses
good terminals has gro wing local trade and
Is self-supporting. With the influence of the
interstate commend e law to steady rates he be-
lieHes the road will be a profitable one. The
lease IS for f. comparatively short time, either
for thirty-three or ninety nine years. The
period has not been determined yet. 1t is an
operating lease. that IT, the Northern Pacific is to
operate the road and pay as rental IS per cent of
the gross receipts.
PROFITABLE INVESTMENT.
President Cakes, after studying the detailed
reports presented by Mr.. Wheeler of the amount
aud direction Of traffic and of the operating ex.
pelses. has come 10 the conclusion that the
Northern Pacific can operate the road for 60 per
cent. and at the out side for g.. He believes
the Northern Pacific can make profit on the
lease independently Of the advantage ACQUIRING
to the company from tho possession ola through
line. OF course, oil the Northern Pacihc's Chi
cngo bushes will be thrown upon the Wisconsin
Ceutrals lines instead Of being divided up be.
tween Chicago and st. Paul. The Northern
Pacific makes no guarantee as to interest upon
the Wisconsin Central compan?'s obligations.
and. in fact. guarantees nothing at all. except
the prompt payment of the rental. The lease
adds to the Northern Pacific system 767 miles Of
road, including 3A miles ofthe Wisconsin Central
railroad, ls7 miles OF leased lines and 236 of
affiliated roads With it also comes the possess
sion Of the extensive terminal facilities at Chi
cago formerly owned by the Chicago & Great
Western railroad, which are constantly increas-
ing invalue as we'll as the very valuable
terminals at Milwaukee. The Northern Pacific
executive committee, to which the lease was re-.
ferred, has studied most carefully MI. Wheelers
report and will report upon it favorably, and
The opinion of the other members Of the board
has already been expressed IN favor Of the
measure.
SURPRISED AT MILWAUKEE.
MILWAUKEE, Special Telegram. march 81.
The news received here to night Of the lease
ofthe Wisconsin Central by the Northern Pacific
was great surprise, Us the disdatches have
repeatedly said that nc such arrangement could
be cunsummated What effect it will have upon
the Wisconsin Central management here. 1t is
difficult to say. few days ago it was thought
something of this kind might occur, as the
Central stock jumped several points, but as no
report was received, but AS no report
was received. the idea was given up. The lease
e G.
for the Central. as the hitter is developing into
veIy prosperous road.
New YORK. March 25.-pres;dent Cakes.
Chairman Harris, Of the executive committee,
aud other officials Of the Northern Pacific rail
road to-day confirmed the report from Phila
dciphia of the negotiations for the trafHc
arrangement between their company and the
Wisconsin Central railroad and its affiliated
lines. or, as some say, the lease Of the latter
road. There will be a meeting of the executive
Committee Of the Northern Paci hc road here to-
morrow to take action upon the matter, and they
will report Wednesday at special me letting Of
the board of directors. From all that could b.
learned to-day. it is probable that the lease, or
traffic arrang nent, will be acted upon favora-
bly, although neither Pres ident Cakes nor Mr..
Harris would express an opinion as to the dis.
position of the ma tier By the board Of directors.
Mr. Cakes said to the Pionser Press corrcspen-
dent: $751; 49,
II !s true that VIC are considering the lease of
the Wisconsin Central road. but cannot say in
M"ynnce what the executive committee or board
Uf directors Will do. l have been AWAY for some
time aud don't know the feeling Of the board.
must, therefore, decline to express my op,nlon.
i Mr.. Harris also declined TO commit himself.
bat the general feeling seemed to be that tie
deal was practically settled. The details of the
scheme, already published, are subgtan tally
correct Another official of the Northern Pacl.
fc road said ~ q -a--.. ..4.. -.. g..
The Wisconsin Central people have been press.
ing ih;s MISTER upon us tor some time and
should not wonder II our company would look
upon the present proposition In 4 favorable
light We shall know all about it, however,
next Wednesday =
At the Office of Henry Willard it was stated
that the Wisconsin Central would not he leased
and that no guarantee Of the bonds Of that road
would be made, but that close trnfic agree.
ment between tho two roads would be entered
into. which would be mutually satisfactory.
The New York holderr Of the Wisconsin Central
seem 70 regard the contemplated agreement with
favor. One Of them said It was undoubtedly
good thing for the Wisconsin Central, as the road
had not been for some time doing much for the
holders OF ita securities and without close con.
neciion with some more powerful lire which
could throw 1t business, it might be great
while before the road could work its own way
satisfactorily e..-. g.. ~! =.
- r7SNeVnno 4., - = .sE