St. Paul daily globe., 1895-06-21
HIGH-pRICEDLAuDS
ARE THOSE USED FOR TERMI-
NAILS BY THE ST. PAUL RAIL
ROADS.
EXPERTS GIVE TESTIMONY
AS TO FIRST VALUE AND IN
CREASE BY REASON OF I'M
PROyEMENTs.
COL. C. s. BUNKER A BOOMER,
I'm, the Opinion of Attorney Gen.
eraI ChiIds-Some other
EXPERTS GIVE TESTIMONY
COL. C. S. BUNKER A BOOMER
In, the Opinion of Attorney Gen.
eral ChiIds-SOme other
Hix0n.

At the conclusion of the cross-ex-
animation of Col. Clough in the Great
Northern rate case before Judge Kerr
yesterday, a number of witnesses were
examined for the Northern Pacific as
interviewer These were T. w. Hopes.
Kenneth Clark, John c. Richardson,
c. S. Bunker, Arnold Kalman, e. B.
Manwaring, Howard Thomas and
Francis B. Clarke The testimony of
all these was directed toward the ques-,
ton of the value of the property used
as terminals by the Northern Pacific
in the Twin Cities and Duluth and
West Superior.
Mr.. Kalman said that he had acted
as agent for the Northern Pacific in
the purchase of property for terminals.
He had also sold some property to the
company. His estimate Of the present
value of the real estate Used by the
company for it's terminals in this city.
he placed at from $1,000 to $4,000 an
acre. He knew that property adjacent
could be bought for much less, but
the competition of railroads for facil-
tiles made this particular real estate
very valuable. 1t was question OF
how much a road. seeking facilities
would have to pay to buy property as
conveniently situated. Witness had
purchased property in the vicinity of
the Northern Pacific shops at rate
of $500 an acre, and sold it for more
than S., 600 an acre after cutting it up
into lots.
Mr.. Bunker said that property had
greatly deprecated in value in certain
sections of the city, but the value had
not generally declined. He did not
think the value of real estate adjacent
to the Northern Pacific terminal prop.
erty had declined.
Hes a genuine boomer" suggested
Attorney General Childs in a whisper
to Attorney Kellogg.
The testimony of Messrs. ManWar-
ing, Thomas and F. B. Clarke was with
reference to the value of the terminal
property at West Superior and vicin-
ity. In the cross-examination of Col.
Clough in the morning, the witness was
required to give
A LITTLE ANCIENT HISTORY
with reference to the organization of
the Manitoba company and it's pur-
chase of the property of the old st.
Paul & Pacific company under fore
closure. Inc company lSSuSu 9o,VcV,oVo
first mortgage bonds, $S,000,0O0 second
mortgage bonds and $15,0O0O0O stock,
making $31 600 of it's own securities
that>w were issued to purchase the orig
inal $50 miles Of road that the st. Paul
& Pacific had constructed.
An effort was then made to get the
witness to tell something definite about
the amount of money realized on the
bonds, the amount expended in con-
structing the road, etc., but his an
swers were of very general nature
when his memory enabled him to fur
nish any information at all. With ref
erence to the mortgage bonds more re-
| Gently issued-the Dakota extension
mortgage, the Montana extension
mortgage, the consolidated mortgage
and the Pacific coast extension bonds
he was a. little clearer and gave some
specific information with reference to
the cost of construction.
A. N. Hixon, who testified for the
state Thursday, is not ex-senator
Hixon, as stated in the headlines over
the report of the hearing in yesterday s
G. o b e.