New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1890-06-18
What Of the st. Louis?

At the present time it concerns New
Ulm quite a little to know what will be-
come of the Minneapolis & St. Louis
road, which is now in the hands of re-
ceiver, and here is what Thursday Min
neapolis journal gives as the latest rail.
road gossip: A party of distinguished
railroad officials and capitalists left Min
neapolis this morning for Des Moines,
via the Minneapolis & St. Louis road,
having arrived from Duluth late last
evening President R. r. Gable, of the
Rock Island road, was prominent among
the visitors, and the big form of Mar
shall Field, the Chicago dry goods
merchant, was conspicuous in the
group. The gentlemen are all directly
interested in the Rock Island or St.
Louis Roads. The German bondhold.
ers were represented by j. H. Carpen-
ter, of Berlin, and English capital was
represented by Robert Benson, of Lon.
don. Henry Seibert, trustee for St.
Louis creditors, was one of the number
The party is making tour of the St.
Louis line, simply as interested bond.
holders and creditors, but it is reason.
able to suppose that their Investigations
have wider range that that.
The relations of the St. Louis and the
Rock Island roads have always been
very close, and, he fact that the time is
not far distant when it is expected that
the St. Louis road will be sold at fore.
closure sale, gives support to the theo.
ry that the Rock Island stockholders
are looking at the property with view
to investment. The sale may occur in
the fall, or it may be delayed until next
spring, and circumstances might even
arise that would still further postpone
it, but they are not regarded as any.
thing more than possibilities. That the
Rock Island is considering seriously the
the purchase of the St. Louis road was
printed in The Journal last fall, but de-
MED at that time. The presence of so
many Of the prominent stockholders of
the road in Minneapolis warrants the
suspicion that it is more than a mere
pleasure tour that called them together.
Solicitor Clarke, of the St. Louis, was
frank to say this morning that the Rock
Island was the expected purchaser
of the road. The St. Louis officials
expected that if the foreclosure sale
should occur by spring the Rock Island
would be the purchaser. He did not
believe the $500 or Canadian Pacific
interests seriously had an eye on the St.
Louis, for he could not see where the
road would be of special benefit to
them. They perhaps entertained diff
ferent opinion however.
1t has been suggested that the St..
Louis was contemplating reorganiza-
ton, but thisis no more definite than
it has been for over a year. The St.
Louis people have felt since the road
went into the hands of a receiver that
if reorganization could be effected it
would be desirable thing, but there is
no present prospect that such a move
will be made. TLe road is doing better
than at the time of the appointment of
the receiver. the net revenue for the
last three months of 1889 being $S5, 900,
out OF which interest is to be paid to the
amount OF about $4,000.
Receiver Truesdale went south with
the Rock Island officials this morning.
He disclaimed any knowledge of spe-
cial significance attaching to the visit
of the Rock Island officials at this time
or of the purpose of their visit to Du-
luth. There was a report in circulation
that Duluth connection was under
discussion in case the St. Louis road
should be bought by them, but there
was no evidence to support this. A
new line would not be built in such an
event, but close arrangement it is
most likely would be made with the st.
Paul & Duluth.