The herald., 1894-08-29
TO BUILD FROM UTAH SOUTH.
Funds Said to Be Secured to
Close the Gap.
The Salt Lake Road Will Soon Be
Commenced.
Work Progressing on tho Southern Pa
cifio North of Santa Barbara.
The Monrovia Limo Im-
proved-Notess

8. T. Godbe, large mine owner OF
Pioehe, Nevada, was at the Hollenbeck
last night, on his return from visit to
New York city. He will 60 to Pioch Q
bv the Vanderbilt route.
He was interviewed by HERALD re-
porter before leaving last evening, and
he stated that his mission to the east
was in regard to building the Salt Lake
and Utah railroad. The accounts pre-
previously published by the HERALD
were correct, he said, with the excep-
ton that Colonel Trumbo and General
Clarkson have no connection with De la
Mar or with Blake.
He said negotiations were progressing
most favorably and within a month
there would be some actual progress to
report. The gentleman did not care to
enter into many particulars ct this time
Tor fear OF injuring aome of the deals
that were now being considered. HIS
stated however that work upon the
Nevada Southern would be resumed at
once and be extended to Goodsprings
mines in the Yellow Pine district. Some
big lead mines were located there and
the ore would be hauled out to Needles
where it would DO refined. This one
improvement, he said, would add thou
sands to this section.
Ae outlined previously in the HERALD,
the proposition was to effect consolids-
tion of several large interests in South
ern Utah and Nevada with the avowed
purpose of building the road or the gap
now uncompleted. This plan has been
all but contaminated.
A company to be known as the Utah
Nevada company has been formed, with
a capital OF So, 900, 900, which will hold in
trust the property of the Phoebe Con SOL
idated Mining company, the Keystone
company, the Gladiator group OF mines,
and q number of other properties. This
new company proposes to build out from
Milford south, and had $2.000000 al
ready on hand with which to make a
start. The rest OF the funds are already
provided for. A connection will be made
with some point on the Atlantic and
Pacific aud an entrance effected into Los
Angeles.
A half dozen big fnanciers of New
York were interested, and within week
or two party of them would be out TO
look over the property. among whom lie
III. B. Cia6in. In fact Mr.. Godbe is on
his way to meet them at Milford, to
which place they will come direct from
Salt Lake.
From information obtained it is ex-
peoted by the company to begin con-
struction operations within three
months. There is money behind the
operation. for in addition to J. r. do la
Mar. who 10 very wealthy, there are all
the mining men in Southern Utah and
Nevada behind it, with their mines as
collateral.
THE OREGON SHORT LINE.
CHEYENNE, Wyo.. Aug. 49, "A nuis in
equity for the foreclosure of mortgage
on the Oregon Short Line was instituted
in the United States court for the dis.
trict of Wyoming today. The action
was brought in the name OF John f.
Dillon. trustee, and the defendants are
the Oregon Short Line. Utah Northern.
Union Pacific, American Loan and Trust
| company and the receivers of the Union
| Pacific. The amount OF the mortgage is
$l4, 931 900, which was given the petit
TONER as trustee to secure the payment
of bonds. The attorneys for Dillon are
| Wilson S. Pierce of New York and Pot
ter H. Burke of Cheyenne. John
NJ. Thurston OF Omaha appeared
for the receivers, while w. r. Kelly of
Omaha and Judge Lacey OF Cheyenne
appeared for the company. The whole
matter was amicably disposed of in a
very short time. Judge Rinsr appointed
for tho Short line the same receivers
who arc managing the business OF the
Union Pacific.
Supplementary proceedings will be
| brought in Idaho and Utah in order to
secure like orders from the eourt there.
! This practically unites the Union Pacific
| system again.
| TRANsCONTINENTAL LINES.
CHICAGO, Aug. 28.-At the meeting OF
the transcontinental linea today the
committee on rulea for the proposed pas
| senger agreement reported, and dis
cussion which took all the forenoon en-
sued. Nothing toward the adoption oi
the report was done, however. In the
afternoon the main purpose of the meet
ing was dropped and il discussed the
rates for the Christian Endeavor con-
vention at San Francaco next year. 1t
| is the coming Of this event that first
suggested the reorganization OF the old
association, and the general passenger
agents felt that if an agreement could be
reached much would be made to relieve
the obstruotions in the way OF the asso-
citation. The subject will again be
| taken up at tomorrow's session, and
when disposed OF, the meeting will re.
vert TO it's original purpose.
BUSINESS WILL BE GOOD.
In recent interview President In.
gals OF the Big Four said: "To the rail.
ways of the country this settlement OF
the tariff means more than the mere
| disposition of a question Of lesser i'm
portance. The present volume of bust.
ness will be increased tenfold within the
next three months, and before half the
year rolls by the railways will be doing
| just as much business as they have ever
done. Those lines which are on the
verge OF bankruptcy or in the hands oil
receivers will soon be put upon sound
financial hasis once moro, and no roads
in the country will benefit more by the
new bill than the central aud southern
linee. This new measure means great
things for all roads, TO be sure. and par.