The morning call., 1890-07-19
THE DONAHUE ROAD.
Executors Of The Estate Redeem 5000
Shares Of Stock.

New YORK, July 1s-The Herald says
there has been perfected in the offices OF
Seligman & Co. an arrangement which gives
California finely equipped standard gauge
railway, which, in its present consolidated
form, runs from San Francisco 100 miles to
the north through three of the most pro-
ductive counties of the State. 1t will avoid
falling into the hands of the great Pacific
lines. Important negotiations concerning
the line have been in progress about a
mont h between Peter J. McGlynn and j. f.
Burgin, of San Francisco, and several West
ern men on one side and Seligman & Co.
and Ladenburg, Thalman & Co. on the
other. Ladenburg. Thalman 6 Co. had
large block of stock of the San Francisco and
North Pacific road in question. To secure
loan the road was originally bonded for
S4,000,0C0. OF which 100000 was taken by
the banking firms mentioned above. The
sole negotiaIor Of these bonds at the time
of the issue was James NJ. Donahue. He
died March last, before he had completed
the work OF organizing the road in the
manner he had contemplated. When he
died he left all his stock unncumbered,
with the exception of block of some co.
eco shares, which was pledged with New
York bankers for advances. A short time
after DOnahue's death McGlynn and Bur-
Slu hGlt dppOluttu tAtCulOIo VI HIS VIII,
and Burgin succeeded DOnahue as Presi-
dent of the road. Last June Burgin and
McGlynn came here with the purpose of
settling all interests which might be in dis
pute between them aud the city bankers.
An agreement was drawn up and signed
last Saturday by which the executors of
the Donahue estate take up at once 5000
shares and allow the balance of 10, 900 shares
to stand until they have paid S1,000,000 the
balance, in full.
They can talk about my uncle as Wis
ionary and mild lunatic all they please,
but the day will come, and it is not so far
off, either, when he will be recognized as
thoroughly sensible, though bold engineer"
So said William Henry Glpin of Pueblo,
Colo, at the Hoffman House. Gilpin has
been for the last two years with his uncle,
William Gilpin, Ex-Governor of Colorado,
on tour of reconnaissance on the Northern
Pacific Coast. William Gilpin believes
there is no serious obstacle in the way of
building a railroad which shall Join the
United States and Russia by way of Siberia,
Behring Strait, Alaska and British America.
The only apparent difficulty is in crossing
Behring Strait, but this difficulty is only
apparent. The strait is only forty miles
wide and In the middle lies an island about
big enough to hold New YORK, Brooklyn
and jersey City combined. The water no.
where is more than forty feet deep, and
there will be no trouble in erecting piers on
the hard bottom"
CHICAGO, July 1S-The Tribune says the
Northern Pacific and the Baltimore and
Ohio Railroad companies are to join hands
at Chicago and form a continuous line from
ocean to Gcean. The purchase of $50 acres
of land in Cicero marks the junction point.
There will be erected car-shops of the
Northern Pacific Railroad and through the
property will run new suburban railway.
The purchase was made yesterday for a
consideration Of S570,000 The traffic alli-
ance of the Baltimore and ohio and the
Northern Pacific cOntemplates a transcon-
tinental line, and freight will be run
through without breaking trains and with
out bringing ears into the city. The North
ern Pacific Company will expend $250,000
in erecting shops, employing 1900 men, and
IL is designed to turn out every class OF
freight and passenger cars.
SEATTLE, July 13.-Iu the Superior Court
yesterday, Louis Carat, Charles III. Florida
and George X. Clark brought three suits
against the Northern Pacific Railroad Com
pany, each for $4,000 damages for eject
ment from the train. The complaint in
each case alleges that plaintiff purchased
in Seattle, on July 14tn, ticket to Pasco
and took the train. The conductor took up
their tickets, and afterward put them off
the train about forty miles out of Seattle.
The plaintiffs allege that they had impor--
tant business at PascU, and were damaged
TO the amount sued for. The tickets were
not stamped by the agent who sold them.