The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-12-08

From informal ton received here yes
terday it seems to be practically set
tied that the Oregon Short Line and
Utah Northern is to begin operations
under the new management on Feb. l
of the new year. At the time the fore
closure proceedings were in progress
last week it was intimated that the
members of the reorganiza ton COM
mittee would organize Immediately
after the sale which is to take place
Jan. and be ready to take hold i'm
according to the information referred
to, nothing will be done until the
transfer is made.
Yesterday was the last day of grace
granted in the DEGREES of foreclosure
in which the old company might pay
up the interest on the mortgages and
prevent the foreclosure but nothing
has been done in that direction, and
in fact nothing was expected to be as
the whole proceedings were had by
stipulation and it only remained for
the special master, Hon. William D.
Cornish, to take charge of the property
and begin advertising the sale today
The sale, as has been stated, will
take place on the 9Th of next month
at what is now known as the Union
Pacific passenger depot in this city
but which will thereafter be known as
the Short Line depot
1t will then require about 20 days
for the confirmation of the sale to be
consummated by the courts. That at
least, is the programme as at present
nd &c .rrt into off, rI,.o
transfer of the property will be made
to the reorganization committee on the
first of February. The new directory
will then be Immediately formed and
the new company at once assume con-
troll.
The same source of information
which brings the intelligence that the
new company will begin operating the
road February /, which seems now to
be settled beyond question, brings
other information that will be of in
terest to railroad men, and though it
is more or less of speculative nature
II nevertheless appears to be authentic.
1t IS to the effect that the Short Line
is to be operated as an entirely separ-
ate line and not under the dictation
OF the Onion Pacific.
The argument in support of the be-
lief which has now become a settled
CO@@N
is found in the business conditions of
the line, which at the close of the
year, will be found to have prevailed
throughout 1896 In this connection a
statement of a few facts will be of
interest as ii is upon them
that current opinions concerning the
probable policy Of the new company
are based.
Under the skillful MANAGEMENT of
r 10 or hn %
ing department and Mr.. Eccles at the
head of the traffic department, the
road has been operated to such ad-
that the November report
shows that when the year shall have
ended the Short Line properties will
have paid in net earnings over ST.
D0O,O These officers have been in
1efatigable in their efforts and it is
to them that the credit for the results
obtained is due in very large part
Herein, then, lies the foundation for
the belief that they will head the new
company as its principal officers, as
we'll as that the company's policy will
De in favor of individual operation of
the line as some further figures will
demonstrate.
During the year 1896 there have been
quilt on the Short Line properties. five
steel bridges, a very large one at Paw
ANe'-' anu AOul SiiolleI OHeS over
he Bear river at different points. Forty
niles of 70-pound steel rails have been
aid between McCammon and Granger.
\ great amount of ballasting has been
lone and several hundred thousand
lew ties put in. Also rolling stock
las been put in first-class condition
md as minor matters of improvement.
everal new station buildings and
took yards have been built All of
hese improvements have been paid
or and all of the company's taxes
'aid, out of this years earnings, and
ret the November report shows net
arnings of over 81, 900, 000
The Union Pacific holding only one