Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1895-06-03
SALE OF A RAILROAD.
Texas, Santa Fe q Northern Sold to
BOnd-hOlders- Interesting Incl
dent-Denver q Rio Grande
Will Doubtless Take
the Road.

Pursuant to decree of the district
court in and for the county of Santa Fe
territory of New Mexico, at the front door
of the court house in the city of Santa
Fe, at high noon to-day, Hon. Antonio
Joseph, special master, sold the Texas,
Santa Fe & Northern or the Santa Fe
Southern railroad to Charles W. Water
man, of Denver, for the sum of $4,000.
The important transaction was witnessed
by many prominent people.
After the reading OF the lengthy adver-
tisement Offering the property for sale to
the highest responsible bidder, protest
against the sale, in behalf of Mr.. G. H. Gill
dersleeve, signed by H. L. Warren, attor-
ncy, was read by Mr.. W. J. Eaton.
Mr.. Joseph thereupon invited bids for
the property and Mr.. j. H. Knaebel
promptly offered $4,000. This bid was
raised by Mr.. Waterman to $4,000. Sew
eral bids then followed back and forth
between the gentlemen named and finally
the property was knocked off to Mr..
Waterman for the sum named.
The purchaser paid Mr.. Joseph GER
tilted check for $25,000 and the balance
will be paid within thirty days from con-
firmatlon of the sale by the court. Mr..
Waterman, who is one of tho attorneys
for the Farmers Loan & Trust company
and also of the firm Of Wolcott g. Vale,
attorneys for the d. & r. G.. road, repre-
sents $538,O0O of the $4,000 first mort
gage bonds of the road, and bid the prop
erty in to protect that interest.
Thirteen of the remaining thirtyseven
bonds are held by Mr.. Gildersleeve and
twenty-three more are held by persons in
this territory. One is unaccounted for.
The Judgment entered against the rail
road company in favor of the Farmers
Loan & Trust company, of New York, for
principal and interest of the first mort
gage bonds held by that company was
$l,16O,23Ss3.
1t is understood that reorganization
will soon take place and that the road
will pass into the hands of the Denver &
Rio Grande Railroad company.
FUTURE OF THE MARROW GAUGE.
Anticipating this sale, the Denver Re-
publican of Friday said: "Next Monday
the Texas, Santa Fe g. Northern will be
sold under the hammer, and it is stated
in Denver on good authority that the
Denver & Rio Grande has as good as
already purchased the line to connect with
it's southern terminal. If this staten ent
be correct it will be good news for the
citizens Of Santa Fe. It will force the
Rio Grande to bend energies to build that
city up, instead of leaving it to the fruit
less efforts of two side tracks, as it has
been for many years now. By acquiring
the Espanola branch the Rio Grande will
be almost compelled to build on to
Cerrillos in order to get coal for its own
engines. At Cerrillos the best anthracite
coal in New Mexico is to be had, and it
would prove an economical stroke for the
Rio Grande people to build into this
district. The only danger of getting as
far as Cerrilos would be that Albuquer-
que would be then SO near that public
clamor and inducements would urge the
managers to build on to that point. 1t
is limited here that President Jefferys trip
to England is really in the interest of get
ting money to build extensions for the
Rio Grande system than any other pur-
pose."