Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1894-12-27
THE OREGON PACIFIC.
It's Future Ia The Hands
Of Judge Fullerton

Of Judge Fullerton.
Mr.. E. L: Bonner, the purchaser
of the Oregon Pacific railroad, ac-
companied by his secretary, Mr..
Stone, left Sunday for Portland.
Mr.. Bonner is a plain spoken,
hearty appearing man of about 90.
He has been engaged in railroad
building, saw-mill enterprises and
mining all his life and has amassed
large fortune: The town at Bon
ner's Ferry in the Coeur d'Alene
country was named for him. Before
leaving Albany he said that his firm
had bought this property with the
intention of developing it and would
use every effort to build up the har-
Dor at Yaquina and the Oregon, Pa
cifc road. 1t is not so much the
500, 900 they bid for the road, he
said, as the large additional amount
required to improve and extend the
road which entered into the cost.
He said it was only a question as
! to whether the people considered
them the right riien to take up AMI
carry out the work Of fextending the
Oregon Pacific, it is no easy matter
to find men who are willing to put
up money these times to build roads.
They have made the start and if the
people want them to go on with it,
and the sale is confirmed, they. will
be found ready with the capital to
carry this long delayed undertaking
to its completion.
E,e sail la. il case lis psof,s
became the owner of the Oregon
Pacific, that its operations would be
looked after by Mr.. Hammond,
whom he declared 10 be a much more
active man, renarking in conclusion
eff Mr.. Hammond comes down here
and takes hold of the road he will
make things hum"
1t is of course, an evident fact
that if this sale is confirmed the
creditors will receive practically
nothing for their claims, but it is
seriously doubted if new sale is
ordered if it will ever bring enough
to pay more than a very small per
cent of its obligations. Since the
road went into the hands of receiv-
er in October, 1890, a debt of some
thing like $I,II5,ooo has been piled
up against it. About $500, 900 of
this amount is in receivers, certifi
Gates issued by Col. Hogg, $S1 900
is in certificates during the Hadley
receivership, and the balance in pay
rolls, vouchers, legal expenses, per-
sonal claims, etc. The labor and
material claims aggregate about$225,
900. During Receiver Clark's re-
ceivership' the road has by rigid
economy and careful management
been made to pay expenses, but 1t
is doubted if it will continue to do SO
during the quiet months of mid
winter. III view of all these facts
good many of the creditors say
they are willing if assured that the
new owners propose to push things,
to loose the claims they hold if the
sake of seeing the road make a fresh
start.
Speaking Of Mr.. Bonner's arrival,
the Oregonian says: Mr.. Bonner
is associated with several railroad
men of large experience and ample
means, in the purchase of the Ore
gon Pacific property, and when the
sale is confirmed the constructed
portion of the road will be at once
put in thorough repair and arrange.
ments made as speedily as possible
for an extention of the road east.
watd. The commencement of this
work depends entirely upon the
action of Judge Fullerton. When
he has confirmed the sale, Mr.. Bon.
ner will proceed Immediately to
NJ.