The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1889-10-05
The Formation Of the Great Northern
Railway Company and What
the Deal Means.
Certain OF the Manitoba Properties
ano Interests to be Absorbed
eV the New Company.
The Montana Central Probably Out of the
DeaI-The Great Fails aud Canada
Line Incorporated.

! a.
turned to-day, bat he could not be seen
Mr.. Minot president Of the Eastern Mime
sofa, and one Of the directors Of the Mani
tobs, said he had left New York before
certain details OF the scheme had been
agreed upon, and he did not care TO be
interviewed From Information in posses-
sion Of your correspondent it can be said
hsweveT' with great degree Of certainty,
that the whole thing means an absorption
OF the Manitoba properties and interests.
and the placing of them ali under one
management Just what these ~roperties
and interests are IS not definitel known.
but 1t looks very much as if they were the
Manitoba system, the Eastern Mfnnesota
and the Northern Steamship company. The
Montana Central and the Manitoba nro-
jected line from Great Falls, or some point
on its Montana division to Spokane Falls
where connection is to be made with a line
that will give the company Portland out
let. IL may possibly also mean the build
ing OF line from Spokane Falls TO Seattle.
or some point on Puget Sound. Ii is also
probable that one, and possibly two lines.
east Of st. Paul may be absorbed by the
new company.
If this is the case, these lines will prob
ably be the Minnesota, St Paul & Sault
Ste. Marie and the Burlington & North
ern. In the case of the latter, however, il
is exceedingly doubtful The alliance Of
the Northern Pacific with the Wisconsin
Central has antsgOnized TO a certain ex
tent the other ChicagO-St Paul lines. and
the Manitoba would undoubtedly fare bet
ter by remsiniDg free FROM any entangle-
ment with Chicago line. By so doing it
would have all the lines excepting the Wis
cOnsin Central acting as feeders. So far
as regards the Montsna Central, it is Just
possible that this will not be included in
the deal, as tits not part Of the proposed
line TO the Pacific coast
The Scheme Given at New York
NEW YORK, Oct 4-Within the last
month the price of the stock of the ST.
Paul, Minneapolis & Manitoba Railway
company has advanced about twenty
points, to s %. The reason for this ap-
probation is now made clear by q circular
issued by the company last night 1t sets
forth that within the last ten years the
railways under the management Of the
company have increased their mileage
siOns will be necessary, and with a view Of
merging the control and concentrating the
franchises of the system, 1t has been de-
termined to organize a new corporation.
1t will also be the function OF the new con
Germ, which has been organized under the
title OF the Great Northern Railway Co,
to provide for the development of the bust
ness and for the necessary extensions Of
the present system. The Great Northern
is organized under the laws Of Minnesota,
with ample power II will have an author
lied capital of $40 0OO. 600, of which one
half will be preferred stock, entitled to
dividends in preference 10 all other stock,
at the rate of per cent. per annum-
As no addition can be made 20 this
preferred stock without the con-
sent of three-fourths OF all the pre-
feTred stock outstanding. its holders
are secured against lts probation by any
unnecessary Increase. Common siCck Will
be retained by the Great Northern Railway
company, sut Ject To future disppsItic1 tor
ferreo stOcK a q 4 Northern com
pany Is Gn - 30 lht stOckholders OF the /
Manitoba Railway company, each stOck-
holder of the Manitoba company having |
the privilege CT taking one share OF 10 Tor
each share of his present holdings. This
preferred stock will be Issued az par, but
the Manitoba stockholders Will OBly be re-
Quired to pay $50 per Share IN cash, the
osher 500 being paid Dy transfer 20 the new
company Of the assets already mentioned
The Great Falls s Canada
GREAT FALLS, Oct 4-lSPtciel to the |
Independent the Crest Falls & Canada |
Railway company was duiy Incorporated |
here today. The compsny is formed 10 |
build railway from the Canadian border |
70 Great Falls. The road will be built |
from the Canadian line to point west Of |
the Sweet Grass Hills mining region, in |
Chotesu county. Ii will cross the Marias
and come thence TO Great Falls by the most |
feasible route. The incOIpOratOrs are |
Donald Grant, Donald w. Grant, AIexan- |
der F. K,nsmsn, Samuel Grant sud William
a. B9rr. Donald Grant is the well known |
railroad builder, who constructed tue Mon |
tana extension of be Manitoba railroad from |
MinOt 10 Great Falls, snd has also carried !
ou' other large railroad enterprises. He Is
now here constructing. with Z. Foley, the
MINES ia contractor, the railroad which |
will connect Great Falls with the Bell
Mountain mining region. The Great Falls
& Canada railway company will az once get
out ties for tue road bed and will proceed
with its construction without any needless
delay. This important road is TO form
part of a railroad from LethbTidse, Can
ada, TO Great Falls. The railroad is In
tended to provide an outlet for the coal
mines in the vicinity OF Leihbridge, which
produce coal of excellent quality. From
Great Falls the coal will be distributed 10
places reached By the Montana Central,
Northern Pacific and Manitoba railroads.
AT Lethbridge il is connected by a railroad
Ito miles with the Canadian Pseifc, and the
new railroad will place Montana In cOnnec-
ton with the Canadian Pacific system, thus
providing an additional route both 70
the Pacific coast aud the poDuloas regions |
of lower Canada, New England and the /
Atlantic seabOard. The magnitude of the /
mining interests OF Montana Is the primary /
incentive TO the building OF this railroad.
Ii is expected that the smelling works and
that will be established 70 reduce
the product OF such mines will consume
immense quantities OF the Canadian coal.
The capital OF the company is 81 OOO, 900 in
shares of 500 each