The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-02-22
on FROM GRAND JUNCTION.
Bonds OF the Colorado, Wyoming
and Great Western Placed.

Bonds OF the Colorado, Wyoming
and Great Western Placed.
Assurance is given by the men at the
financial end of the Colorado, Wyoming
d Great Northern Railroad company that
the 30 miles of line between Grand june
ton and Green River, Wyo., Will be
built during the present year. says the
Denver Republican. This company is
composed OF citizens Of Grand junction
and the proposed road was started by
them seveai years ago to give their city
connection with the rich mineral STOCK
and coal section lying on the north. A
nucleus for the road was given in 1871 by
row gauge track to the Brook Cliff coal
mines. which has been in steady opera
ton since its construction.
The projectors have been negotiating
for several months Tor the sale OF The
bonds of the company to provide money
for the construction of the road in con-
nection with the oregon Short Line in
Wyoming, and H. a. WoodWorth q Son,
that the $9,0O9,000 needed Will be forth
coming as the road is built and the com
pany is at last ready TO go 10 work.
H, 4, WoodWorth, of the inv tLnent
brokerage firm, stated last night that the
sale of the bonds to Philadelphia capital
lists had been completed ana that work
on the grade would be commenced by The
18th or 10Th of March, and the line pushed
on 10 completion within the year. Fifty
men are now at work on the survey,
which has been completed to Ran6eiy, IN
Rio Blanca county.
stock of the company was placed at ST.
Goo and the intention was to build a
narrow gauge line. Objections to the mar
row road were met IN placing the D0ndS
and it was decided to increase the stock
and bonds TO S3,O00,0OO. The amendment
to the articles of incorporation was filed
with the secretary of state this week
!
placed and the standard gauge track is
10 be laid.
BY bonding the road for only the
amount to be expended carefully III con-
lind a market for the bonds and Mr..
woodwork pointed to the difference
presented between the case OF TINS road
being bonded for S15,000 a mile against an
average OF $1,000 represented by the deDt
Of the Santa Fe system, as showing the
less amount the new road woulQ be
forced TO earn TO keep II ahOat. Rail
roadir-g is cheap now compared with
what it Was ten Years ago.
For business the road VIII tap the coal,
asphalt, oil, timber, stock, marble ana
agricultural field OF northwestern Colo
RADIO for local traffic besides forming con-
Oregon Short Line and either the Md
land or Rio Grande at Grand Junction.
lit is claimed that advantageous traffic
arrangements can be made for through
business. For 90 miles out from Grand
Junction the survey is established. but
beyond Rangely a mountain range is met
where tunnel will probably be neCessa-
Try and from there the route is indefinite.
The original directors Of the company
were: w Z. Carpenter, president, IhOS.
Is, Sanford, Melvin o. Whitehead Criss
f. Lass and James P. Nesbitt. a change
will be made in the management in
short time,
Confidence in the ability Of the compa-
ny to crowd the construction within the
lyear is expressed by the men who nego-
tiated the sale of the bonds.