St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-29
FOR NINETY-NlNE YEARS.
The Wisconsin Central Leased by
the Northern Pacific.

Inc Wisconsin central heaScu Ny
the Northern Pacific.
New YORK, March 2S.-David q.
Wegg. OF Milwaukee, attorney for the
Wisconsin Central Railroad company,
has been here several days completing
arrangements for the transfer of the
Wisconsin Central to the Northern
Pacific. The papers have been pre-
pared and submitted to representatives
of both companies. and have been APP
week the board of trustees of the
Northern Pacific will meet and ratify
the agreement. and the Wisconsin lines
will Immediately thereafter be turned
over to the Willard people. While
it has been known for a long time
that combination was being ar
ranged between the two roads, and
a union of interests to certain extent
had been brought about. the full extent
of the deal contemplated has not been
made public until this time. A gentle
man who says he received his informa-
ton from Mr.. Wegg, states that the
Wisconsin Central has practically been
leased by the Northern Pacific rail way
company for term Of ninety mine
years. This information was Impaired
l.
cent conversation at the Murray Hill
hotel. where the Milwaukee attorney
is stopping, and coming from the source
it does,
Can Be Relied Upon.
The recent changes in the Wisconsin
Central management and directory were
made in the direction of the absorption
of the Central by the Northern Pacific.
The Wisconsin Central was incorporated
under the laws of the state of Wiscon-
sin, in 1887. This corporation was Or
ganiZed to acquire full possession
of the lines known as the Wis
consin Central associated lines. This
association constituted a continuous
system of railroad, connecting st. Paul
and Ashland, via AbbottStOrd and
| Duty's island, with Milwaukee and Chi
cago, and occupied the Chicago u Great
| Western terminals in Chicago. The diff
| ferent railroads which composed it had
| been gradually constructed during the
| past twenty years, and together formed
| the natural trunk line for the Northern
| Pacific railroad from its termini at Ash
land and st. Paul to Chicago. Their
possession and control Of these terminals
in Chicago enabled them to offer the
| Northern Pacific Railroad company such
| terminal accommodation in Chicago that
the Northern Pacific mpany could deal
| first-hand on advantageous terms with
| all Eastern and Southern railroads. The
! Wisconsin Central associated lines, how
| ever. consisted of eight independent
| corporations, running into four states,
| and were
Not Legally Competent
to arrange satisfactorily with the
| Northern Pacific. until they had them
| selves been absorbed into one corpora
ton. To unite these lines, and ac-
complish this result, the Wisconsin
Central company was organized in the
summer of 1887. Prior to July. 1888, it
had either consolidated into itself. or
had become the assignee of permanent
leases, or had acquired ownership OF all
the constituent corporations excepting
the Wisconsin Central railroad proper.
| which is operated by John A. Stewart
and Edwin II. Abbott, trustees in pos
session, and the Milwaukee d Lake
Winnebago railroad, which is leased to
those trustees for the term of their pos
session, and thereafter to the Wisconsin
Central railroad company in perpetuity.
The Wisconsin Central company pro-
ceeded to acquire ownership OF the
Wisconsin Central railroad, partly
through purchase Ut its bonds
and stock in open market
and partly by exchange therefor OF its
own securities. Having acquired pre-
vious to July l, 1888, nearly two-thirds
of the bonds and almost nine-tenths OF
the stock of the Wisconsin Central Rail
road company, and thus made abso-
lutely certain its eventual control OF
the Wisconsin Central and the Milwau-
kee & Lake Winnebago railroads. ii
consolidated it with the other corpora
lions which made up the Wisconsin
Central system and, on July /. 1888,
formally began It's own operation of the
Wisconsin Central company properties
A small amount OF outstanding bonds
and stocks have remained to be &C
quired in order to make the Wisconsin
Central company the absolute owner, OIL
permanent lessee, of all parts of the
Wisconsin Central system, and it is now
said that this stock has been secured