St. Paul daily globe., 1892-07-01
The st. Paul & Kansas CITY
Merged in the New Com
pany.
Final Arrangements Made at
aMeeting Held Yesterday
- Afternoon.
Christian Endeavor Meeting
: Causing a Demoraliza-
tiOn Of Rates.
Chicago-St. Paul Roads Au-
thoriZed to Meet 500 Tar
e. ifs at Once.

The st. Paul & Kansas City railroad
has been merged into the Chicago Great
Western company, and Will be operated
by the latter henceforth. beginning
with today. Final arrangements to this
effect were made at a meeting held yes
terday at the Office OF A. B. Stickney in
this city,. Those present at the meeting
were A. B. Stickney, John M. Egan, c.
w. Benson, S. G. Stickney. A. NJ.
Drake, William Dawson, Ansel Oppen-
helm, Raymond Dupuy, Charles
Nichol. j. l.. Pratt, Emerson
HadIey and r. C. Wight. When
the company was originally
formed Raymond Dupuy was presl-
dent, with r. C. Wright as secretary,
treasurer and auditor. Mr.. Dupuy re-
signed yesterday morning and John NJ.
Egan, who was elected director in place
of w. A. Gardner, resigned, was chosen
president and general manager Of the
new company, while S. G. Stickney was
elected chairman of the board. W.B.
Bend was elected treasurer, NJ. c.
Healion auditor, and r. G. Wright sec.
retary. A. Is. Stckney remains chair
man of the board of directors of the
Kansas City. and Ansel Oppenheim has
been elected president to succeed Mr..
Egan.
The Chicago Great Western is a cor
porati0n formed about five years ago.
The Chicago, st. Paul q Kansas City
Railway company was organized on
May %, 1856, when it held traffic agree
ment with the old Minnesota " North
western. On July of the same year
it acquired by purchase the property of
the old Wisconsin, Iowa & Nebraska,
then known as the Diagonal, name
which IS still generally applied to- the
Maple Leaf throughout Central Iowa.
The Minnesota & Northwestern was
finally, on December 3, decided,
subject to its bonded indebt-
edness, to the Kansas City.
The Chicago Great Western was organ
lied in 1856 for the purpose of leasing
these lines. This new company has for
some time been coupled with the Chi
cago. Sioux City 81 Baltimore. which
was projected to run Oh the Maple Leaf
line from Sioux City to Hampton. Ac-
cording to Mr. Stickney, the traffic of
the Maple Loaf had outgrown the ex-
pectations of its founders and the finan-
cial plan of its organization. To meet
this emergency the Chicago Great
much larger financial basis, and az
rangements have been made by which
Sl0.000,000 of bonded debt of the Chi
cago, st. Paul & Kansas City Railway
company will be converted into stock
of the Chicago Great Western, thereby
reducing by about S450.000 per annum
the interest charges Of this company.
which before were much lower per
mile than those of any of ita COM
petitors. Arrangements have also been
made to raise, by an issue of stock only,
about So, 000,000 in cash, to be used III
increasing its facilities IN order to ac-.
commodate its increasing business.
President Roberts, of the Pennsylvania
company, said in 1890 that it required
the enormous sum of 100000 an
nually to provide the necessary addi-
tiOns to real estate, equipment, tracks,
and other facilities of that company, a
sum equal to about Sl,250 per mile on
its system of 800 miles. The S3.000.OO0
which this company has arranged for is
equal to over $1,000 per mile, which sum
it is expected to eXpend within the next
two years, not increasing its mileage,
but in the purchase of additional real
estate and new equipment, and in max
ing permanent improvements.