The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-18
E RAILROAD CONSULTATIONS
''hern Pacific STOCKHOLDERS r,s.,s,,S
10 Abandon the prafs.-..

Abandon the Project.
,.-Sra sork. July 1.-THE Evesf,y pcs.
- toaay resume OF the neuofIz s;ors
lie. .s soEsoiidasion Of the Sor-hern pa
ars 81, 81 Great Northern railways under
's ma aagemsEt. After stating .r., = :
AVS OF Minnesota. unaer abf-h -
la Northern was orrsnizas ,.~e-
.hss no railroad corporation scan
< ooia3A'e. lease or purchase or IN any
oecvlne the owner OF or Central 80
oeher railroad corporation or any stors
-. licenses or rights OF propety thereof
no owns or controls parallel or eornr,at.
asHe, he Post says: 1T is not diff
,sss.. ~ ui'aef ana that the principal par
.S.paH1s IN the guarantee syndicate do
hos IKE TO give uD expected large nraS,s
aHu mat they are endeavorfng- thauuh
scotnizing the necessity of snaudorfn .
tas Lon1on project. TO accomplish The
pu1pose IN another way For fnstanoA
me lawyers are studying the question Of
90 :, ming a third company under the Laws
a.sothsr state. which shall acquire the
STOCK OF the Great Northern nd reor-
gained Northern Pacific and thus uni,a
tne Two corporations. But counsel freely
aafnit tnat such a proceeding wouIs ne
an sohhlct with the spirit. n not the let
Ter OF the laws OF Minnesota.
me Atlantic and Pacific Foreclosure.
1h'caeo, July T.-The bal fled in the
o'Ice OF the clerk or the United States
colrt IN Albuquerque N NJ, by the Unit
81 D1ates Trust Company, trustees under
tne frst mortgage OF the Atlantic e. pa
ZINC. asking for foreclosure and sale OF
the properly. Is based upon no interest
having been paid on the first mortgage
since the road went into the hands OF re-
eeiFers in January. 1894 II Is understood
~ ene Atcnlson people from the fling OF
ene Dhi that the organization committee
Waach represented the interests OF the
hrst mortgage bondhoiders CONCENTRATES
applying az ar early day for separate
receivership. II is understood. however.
mat the Atlantic & Pacific COMMITTEES
Goes not desire to break away from the
Atcnison system. but think that their In
terests can be better looked after by a
separate recelvership. while at the same
time maintaining all existing traffic reIa-
lions. Should such a motion be made. il
- not certain what position viii be taken
ny the Atchsson interests. but they will
presumably object very seriously 70 such
a change being made in the management
Of the property. What is commonly called
me Atlantic G. Pacific railroad extends
from Albuquerque. in New Mexico
through Arizona 10 Mojave. Cal, a dis
lance OF sls miles. The road is owned
by the Atlantic & Pacific however, and
-
teen miles west OF Albuquerque. TO the
Colorado river. which is the eastern bound
airy OF California, a distance of SIS miles
The road was built in the interest Of the
Atchison and st. Louis & San Francisco
roads, for the purpose OF afforsiing those
lines transcontinental routes. and Ii has
heretofore been handled as part Of the
Atchison system. The present receivers
OF the Atlantic & Pacific arc Aldace J.
Walker. j. McCook and j. g. Wilson, who
arc also receivers OF the Atchison ST.
Louis e. San Francisco companies. This
receivership was established i'm a suit
brought by the Mercantile Trust Company.
trustee under the second mortgage The
bonds secured by the mortgage, as well
as the great part OF the common stock
Of the Atlantic & Pacific arc assets of the
Atchison and San Francisco receiverships.
The United States Trust Company trustee
OF the first mortgage, have been made
party to the suit, In which the receivers
were appointed. The latter mortgage Sc
cures about SIS. 200 600 of bonds, which are
the first lien Of the 5S5 miles Of road abovs
stated. together with the valuable land
grant of the company. The situation Is
e. Pacific line from the crossing of the
Colorado river at the Needles west or Bar
stow, where Ii connects with the South
ern California. and TO Mojave. where IL
connects with the Southern Pacific. Is not
owned by the Atlantic & Pacific, but is OPP
Grated under a contract of purchase and
lease from the Southern Pacific made
when the road was constructed.