New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1889-10-30
RAILROAD SENSATION
Russell Sage Fathers Scheme OF
Great Importance to the
Northwest.

The associated press of New York City
sends out tue following: In these days of big
railway combinations Wall street keeps a
very sharp outlook for possibilities, and
when it was announced on excellent au-
thority yesterday that Russell Sage was en-
gagged in deal of this sort, with an interest
ing history attached TO it, there was some
lively scurrying around for facts and figures,
which, owing to the well known reticence OF
Mr.. Sage, Were lamentably scarce Not very
long ago, says the Times, the legislature of
Connecticut granted am extraordinary char
ter to a number of gentlemen. prominent
among whom was MIR. Sage, who declared
that The company they represented would
have capital of $15O.0 100000. With the
usual liberality OF Connecticut when grant
ing charters. the state legislature gave the
new company permission to build, operate,
acquire by purchase or lease railways, steam
boats and steamship lines, and to acquire,
hold and dispose of bonds, stocks and securi-
ties issued by corporations or bv govern
lnent, state or local authorities. The wide
scope of this charter would permit the cor
poraUion to do almost anything in financial
way, and Mr.. Sage almost at once proceeded
TO do as much as his shrewdness would al.
:ow him to do. Associated with Mr. Sage in
this company are Sidney Dillon and Eugene
Zimmerman, together with George Gould
and, it is said, Gen. Wager Swayne.
ST PAUL FIR TERMINAL.
The milk in the cocoanut, as explained by
excellent authority, is this: The first three
gentlemen mentioned are deeply interested
in the Cincinnati, Hamilton & Dayton, the
Wheeling {, Lake Erie. and at least half
dozen of their connecting lines. The two
roads mentioned would form a very impor-
tant nucleus for extension of their con-
nections to the east and west The Connect
icut charter, it is declared. was obtained
with the purpose of combining these roads
and enabling the incorporators to bring I'M
der the own ership and management OF the
Connecticut company great many miles of
valuable railway property, with terminals at
St Paul and come Southern port, or possibly
ST. Paul and Baltimore. The plans are now
being put into active operation, it is said,
and the combination will be effected IN a
comparatively short time. The con5rol of
the new company, say the gossips, will ex-
tend over the Cincinnati, Hamilton & Day
ton, the Wheeling & Lake Erie, the Dayton,
Fort Wayne g. Chicago, the Iowa Central and
the Minnesota &, Northwestern. The Iowa
Central reaches Peoria, III. /, and will, in con-
nection with the Minnesota & Northwestern,
give the consolidated lines
AN ENTRANCE TO ST PAUL
It is the'intention of the company, it is said,
to acquire or build a line from Indianapolis
to connection with the Iowa Central at
Peoria. Mr. Sage is vice president OF the
Iowa Central and is the holder of large
block of its stock. The Louisville, New Al
hon PsH Err;x1 thoo
from Cincinnati to Chicago and from Chi
cago to Louisville. The company will be
able TO compete with the great trunk lines.
for the business in the Northwest, and will
be in a position to extend connections to St..
LLuis. 1t was rumored that g. A. Hunting,
ton was concerned in this scheme, but the.
rumor could not be verified. 1t was in Con-
necticut. however, that he secured his char
ter for the Newport News and the Mississippi
Valley company. The refusal of those con-
cerned to converse about the proceed
ings of the company led many to.
place reliance in the reported plan
of the combination to unite the
Northwest with the Atlantic. Mr.: Sage, who.
is, supposed to be the most deeply interested
in the scheme, declined TO talk about it, He.
refused, however, to deny that such gen.
eral extension OF the roads in which he is in
terested was contemplated. One OF the per-
sons who have been in the confidence OF Mr..
Zimmerman said that the project has been
under consideration for several months. 1t
had been decided that the interests of the
Cincinnati, Hamilton & Dayton should be
advanced with the utmost rapiGity after the
blow which had been given to the road by
Henry s. Ives, and the wholesale charGer was
suggested by Mr.. Sage, whose interests in the
Wheeling:& Lake Erie and the Iowa Central
seemed 10 place him in position to afford
the desired outlets to the Cincinnati, Hamil-
ton & Dayton. When the through traffic an
rangement will be made the speaker was
not in a position to say. but he declared that
it would probably go into effect at the latest
~ Nov. Is
GATHERED AT HONOLULU.