The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-07-26
In RAILWAY CIRCLES.
THE NORTHERN PACIFIC BUYS In
ITS OWN LINE.
The Sale Took Place at Superior,
Wisconsin, Yesterday = Chesa-
peai>e, ohio & Southwestern Also
Sold.

WEST SUPERIOR, Wis, July 25.-
Special Master Carey this morning at
Superior, Wis, sold the entire line of the
Northern Pacific Railway company, its
bonds, stocks, leases and branch lines.
under the decree of Judge Jenkins of
the United States federal court.
The sale was interrupted by but two
formal notifications, and the property
was bid in by Edwin w Winter for the
Northern Pacific as reorganized on be-
half of that corporation. The promi-
! nent railroad officials and representa-
tives of the bondholders arrived this
morning on a special train In the
party were Edwin w. Winter presi-
dent OF the reorganized Northern Pa
chic; Charles H. Coster of New York of
the flrm of j. Pierpont Morgan & Co.,
the reorganization managers; Ed
Adams of New York, chairman of the
reorganization committee; Special Mas
ter Alfred E. Carey, who conducted the
sale; Francis L. Stetson and Dr. Mara
wet of New York, counsel for the re-
organization manager; William Nelson
Cromwell Of New York, counsel for the
reorganization committee; Herbert l..
Turner of New York, counsel for the
Farmers Loan and Trust company.
compliments of the foreclosure suit:
Silas w. Petit of Philadelphia, counsel
for the old company; George w Gardi-
ner and Land Commissioner William
Phillips Of the Northern Pacific, and
Receiver Michey of st. Paul
Special Master Carey announced that
the Sade was ready to proceed, when
General Counsel M. D. Grover for the
Great Northern entered a formal no
n hi rio
prospective purchasers that they would
be held liable for the lease of the ST.
Paul q Manitoba tracks. which the
Northern Pacific uses between ST.
Paul and Minneapolis and for the
carrying out of that contract
After him. Charles Clattin of this
city gave notice that the purchasers
would be subject to the contract made
with the st. Paul and Tacoma Lumber
company, by which the latter pur-
chased 5000 acres of land in Pierce
county Washington, and has the right
to have it transported to Tacoma
Special Master Carey then read the
decree of sale. He offered for sale the
first parcel, consisting of the line from
Lake Superior to Portland. Ore, and
all the appurtenances and property.
He also included in the first parcel all
property to which the reverse had
acquired title. and asked for bids.
Edwin w. Winter, FOR the Northern
Pacific railroad, bid the least amount
thai could be offered.
Master Carey asked if anybody else
IN the crowd desired to bid on the road,
and receiving no response, sold it to
Mr.. Winter for the Northern Pacific |
railroad, and received the report of the
FARMERS Loan and Trust company, |
that the bonds necessary to |
blnd the sale were in their possession.
The second parcel, containing the
stocks and bonds of branch lines, held |
under the consolidated mortgage. were |
being offered, and as before Edwin w. |
Winter bid for the Northern Pacific |
railroad and offered 81, 000 900, at which |
it was sold
The third parcel containing contracts
Oh branch lines and releases, was of
fered at $500, 600 bid by Mr.. Winter.
who got it without opposition.
AT noon at the door of the county
court house were offered the company's
ands in the state of Wisconsin in three
parcels. The first contained thirty-one
sections in township 43, range
ID west, and President Winter bid 500
Tor one section with the option of TAX
ng the remainder. He got it, and ex-
erc1sed his option, depositing the GER
-lficate of the guarantee
All patented lands in Wisconsin not
moulded in the first sale were offered
IND sold to the Northern Pacific rail
Dads representative for 81 600
In the third and final parcel were all
ands in Wisconsin granted the North
I'm Pacific railroad by act of congress
o aid its building and equipping it's
Inc, TO which the road is entitled but
lpon which patents have not been is
ued. Winters bid of 100000 was the
ne largest offered, and the sale in Wis
OnSin was closed
The special train proceeded from here
vest and the special master expects to
urn the road over to the purchasers
,aOtembar