Omaha daily bee., 1894-01-03
CAPITALISTS FORM A COMPANY
Arrangements Made fora Magnificent struc.
ture at the Foot of Farnam Street.
WILL BE BIG ENOUGH FOR EVERYBODY
Ample Accommodations Ar9 Provided fof
All Roads Centeriug IN Omaha.
PLANS LAID FOR A MAMMOTH BUILDING
object So Long Sought For Now to BE Res
allied In "a Most substantial aud sat-
isfictory Mauncr-Dctails of
the scheme.

the scheme.
Omaha, after years of weary waiting, is al
last going to have n new depot that will DO
n credit to the city and state.
The project is not another paper depot,
but a great structure in which all the rail-
roads entering Omaha from any direction
will have ample accommodations for all pur-
poses. 1t is to be built upon broad lines and
will realize in every way the often expressed
wish of the people for a depot that would re-
fleet the agg ressiveness of the city and state.
Underway for Months.
1t has been an open secret for months that
o project looBing iowa I'd interesting the
heaviest capitalists of Omaha in the new
depot question has been under way, but for
various reasons its promoters have been UNI
able to give it form until quite recently.
There have been obstacles TO overcome, but
all these have been surmounted at last.
First zane the general depression in ousi-
ness, which made it well nigh impossible to
talk of anything but stagnation: next the
ulilSuilltS VI ll5 bhS NODpNAu'iOA
Of the men most vitality interested ard
! reconciling conflicting interests presented
themselves most forcibly. During the sum-
mer the leading bankers and business men
were out of the city most Of the time, which
also hindered the work Of organization, and
the continued absence of President 5. II. II.
Clark of the Union Pacific upon matters
connected with the rcceivershlp made it
impossible for the men interested in
the matter to advise with Mr.. Clark as to
| the disposition of the Union Pacific toward
the new enterprise.
Preliminary Plans Completed.
Within the past forty-eight hours the pre-
linlnary work looking toward an organiza-
ton of this nature was completed and yester-
day afternoon the articles of Incorporation
! were to be filed with the secretaryof state.
The organization is to be known as the
Metropolitan Union Depot and Railway COM
pany, the following named gentlemen con-
stituting the incorporators: Guy c. Barton,
Henry W.. Yates, Herman Kountze, Benja-
min f. Smith, Charles w. Hamilton, Frank
Murphy, John A. Creighton, Fred Metz, ST.,
William A.. Paxton, Alfred Alil!ard, c. w.
Lyman, Milton Rogers, r. L, Stone, Thomas
Swobe, John Rush and Charles J. Karbach,
names ldHlllldF 70 Every nun, NOuldu anu
child in the city of Omaha.
VIII Cover Four Blocks.
The new structure is to run from Farnam
to Howard streets, and cover from Ninth
street east to Seventh. All the necessary
surveys have been made ana plans drawn
for an elevated system of tracks forming q
~" into and out of the building, making
the depot accessible to all railways from all
,a,tg 1F thu cftp Tho h,f1lipn mill hA
about geo feet on Ninth street, its frontage
on Farnam street not having been definitely
determined upon. The large train sheds
will be east OF the main building, running
parallel with the main structure, all the
ground TO Seventh street being under cover.
Experts have gone over the ground and have
unanimously reported in favor of the feast
bility Of the site to accommodate all the de-
mands made upon the new company by the
railroads entering Omaha.
Land is to be acquired either by purchase
or condemnation and will cover u tract of
ground extending from Capitol avenue to
Howard street. between Ninth and Seventh
streets, for trackage purposes.
Cost Nearly Two Million.
1t is estimated that the cost of the pro-
posed improvements, the purchase of lots,
condemnation proceedings and the depot
and sheds win foot up $l,T51,O0O.
Within a few days the iucorporators will
hold a meeting and pertecta temporary or
ganization and in thirty days thereafter will
open stock books for subscription according
TO the laws Of tine commonwealth.
1t is understood the new company viii ask
q subsidy from the city 20 assist in building
this new union depot for which an election
is to be called and also ask the city council
TO Quit claim to the Union Pacific the lots
now being used for railroad purposes over
which so much bitter controversy has been
had IN past years.
After ~recitiug the reasons for the a~ssocia-
tion Of the above named gentlemen into q
corporation the articles of incorporation
state that the nature of the business
20 be transacted by sad corporation
shall be tho location, establishment. con-
struction, furnishing, maintaining and OPP
Grating union, freight and passenger railway
dcpots at such points rs may be determined
upon with such tracks, siuc tracks turn
outs, switches. Offices and structures as may
be deemed necessary, and to take, acquire
and hold all real, personal rad mixed
property necessary or convenient for the
execution Of said business and the accom-
plishment Of the objects and purposes Of
this corporation, cue"
Amount Of Capital stock.
The authorized capital stock Of said COR
poration shall pc s., o 5000, divided into
shares of 500 each, a clause for the i~ncreas-
ing Of the capital stock being attached
The life of the corporation is bounded by
December 30, 1873, and December 30, 1888.
The business Of the corporation is TO be
conducted by a board of seven directors TO
be elected AZ a regular annual stockholders
meeting held the second Monday In January
Of each year. The officers are 10 be a prest-
dent, secretary and treasurer, chosen by tho
board Of directors. The highest amount OF
Indebtedness TO which said corporation can
az any time subject Itself shall not be moro
than two-thirls Of the amount NJ the capt.
tai stock Of said company at tho time said
.--NunAnaL IA NA.n- IL