The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-03-28
NO KICK FROM BUTTE
The Probability of the 0. R. N. and
0. & N. Reorganization.
A BENEFIT TO THIS CITY
Excitement In the Puget Sound
Country Over a Hin Rumor and
a Transfer of Real Estate
Railroad Gossip.
A BENEFIT TO THIS CITY

e"@oe foh VI the Otan northern ant
Oregon Short Line and a separate sys
tenn are being closely watched IL
Butte, which city would be affected
probably more than any other point OF
either of the lines named in the event
OF their reorganization on an entfreI,
independent basis. Such an arrange.
ment would increase Butte's Importance
as railroad center, as IL would let al
or the western and southern roads into
TINS city on an equal footing with the
Union Pacific and Butte would bristle
with railway Offices
IL is now believed however, that
while the Short Line will be reorgan
lied and placed on a supposed indie
pendent footing ii will continue to be
| handled in the interests of the Union
| racine, in which event the Ogden gate
| way Will remain closed to the compet-
ing lines that are fighting for an inter
est In Butte's big railroad business.
| Excellent reason for this belief is found
in the fact that w. III. Bancroft. super-
intendent of the mountain division of
| the Union Pacific, is slated for the no.
sition OF general manager Of the reor-
ganized Short Line, which is taken to
mean that the Union Pacific's interests
VIII not be sacrificed by the new man.
| agement.
The Salt Lake Tribune gives the fol-
lowing particulars concerning the re-
organization:
The plan for the separation of the
Short Line system from the Union Pa
cific provides for the organization of a
new company to be known as the Ore
gon Short Line Railroad company.
Thls company is to control the mileage
OF the present Oregon Short Line e.
Utah Northern Railroad company.
which includes the following lines:
oregon Short Lne-Granger to
huntington, with the branch from
Shoshone to Ketchum, 600. SO miles.
Idaho Central-Nampa to Boise
City, 1912 miles.
Utah & Northern-Ogden to Butte
and Gunnison, with the branch from
Cache Junction to Preston, 477.S1 miles.
Utah Central-Ogden to Salt Lake.
1854 miles.
ogden & MISUNDERSTANDING juno
ton to Syracuse, SIS miles.
Utah Southern-Salt Lake to Juab
1926 miles. ''
Utah Southern Extension-Juab to
Frisco, 1924 miles.
salt Lake e. Western-Lehi Juno
ton to Tintic, with branches from
mammoth Junction to Eureka, and
from Ironton to Northern Spy. 63.57
miles. '0'
Utah & Nevada-Salt Lake CITY to
Terminus, with the branch from salt
oii 10 Salt Lake 90 IA
Total mileage, 1879 S.
The total bonded indebtedness of the
system is 1914, 900, and the outstand-
ing capital stock is S26,lsO. 200 The
p-esent liked charges-that is the sum
annually payable for interest on the
bonded debt amounts to s2,7SS.575. A
leading feature of the reorganization
plan is the reduction of the fixed
charges, except interest on two classes
OF new bonds
mat this amount can be met, the COM
mlttee EXHIBITS table showing that
the average annual net income from
1883 to 1894, inclusive, was $2,374,431 .66. |
The actual net income for the year 1898
is stated at $2.273,16
Or the funded debt the following nm
DERIVING divisional mortgages are 10
remain undisturbed: oregon short
Line first per cent. due Feb. 1. 1892
sl4,931, 900; Utah & Northern first 7 ner
cent, due July 1, 1898, "a, 993, 900: Utah |
d Northern Consolidated S per cent
due July i, 1926. 1881 ZOO.
A new issue of consolidated first |
mortgage per cent. gold bonds, due in
1916, is authorized. OF these bonds |
s24, 172.0 900 is to be set aside as q. reserve
for retiring at maturity the underly-
ing divisional bonds, which. as stated /
to s21, 755, 900.
The following securities are 10 he re
tired: Utah Southern general mortgage
: per cent, N,526,O00: Utah Southern
extension, nrst mortgage, per cent,
$1.s50OOO; Oregon Short Line e. Utah
Northern Consolidated, per cent. So
$4,000. The holders of these securities
are TO be given a share of the new
issue consolidated first mortgage per
cent. gold bonds to the amount of so
per cent, S,1S5,000 They are to re-
cel@ also the amount of the remaining
In /
i've income bonds, series A the total
ssue of which, T,1s5.000, will be de-
voted to this use. The holders of the |
[hree classes of securities named will
receive in addition to the new bonds.
shares OF new common stock to be is
sued equal to the face value of their
present securities. or $14,370,O0O
There is also authorized a new issue
II non-cumulative bonds, series b.
amounting to SIS, 900; of this sum.
IA S41 900 is to be used in taking I'D the
oregon Short Line & Utah Northern |
collateral trust bonds, amounting to
and for which the Oregon
xallway q Navigation holdings of the
short Line are held as collateral
This disposes of all the outstanding
'onds, except the following small is
ues: Idaho Central first mortgage
$4,000; Utah Southern first mortgage,
verdue. $424, 900; Utah Central first
mortgage, overdue. $1,000; Equipment
rust bonds, s107, 900.
The holders of the "A bonds are TO |
eceive interest, If earned. at the rate
( per cent, before any interest is /
aid on the b bonds.
The b bonds are to receive inter |
ST, IL earned, at 3 per cent. for the
rst three years. and thereafter at
er cent. The stock OF the Oregon |
Hallway d Navigation company, to be /
edeemed by the issue of b bonds. is .
D be put in trust as collateral for such s
onds." I
The Puget sound country is greatly I
xcited by rumors that Bellingham bay |
TO be made the western terminus Of a
he Great Northern railway About | 4
NO weeks after President James ]. | 6
ills announcement that the Great | n