The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-05-08
SALE OF S, l. S. 4 E
VIII Take Place Here the Lat
ter Part Of Next Week.


The interesting event h railroad circles
next week VII be the sale cader fore
closure Of its nortgaxs bonds Of the So
attic Lake shors + Eastern railway, which
takes place on the 10Th inst. and many coz
lectures are being hazasesed a. 20 which
combination OF Interests win sucSeef IN get
ting control II faix sins piece o. railroad
properly.
Standing, ~ u has under the receiver
ship, isolated from all sther railroad sys-
terms IN Its management. and dependent
purely upon it's local business. ~ has. dur
Ing tho entire period OF hard times under
which the country has been suffering. been
oper~sed NJ q profit. leaving hrec charges
out Of consideration. ASIDE from this Il has
franc hises which render II o. peculiar value
70 any one Of the transeonfinenfd roads
which At PRESENT or which may In the IT,
fure reach terminal points on Puget sound.
Possibly for these reasons rsruor has v
that various Of those transconfinsnsai com
panies win figure among the bidsefs al tho
sale.
Tho boncheiders Of the Seattle. Lake
9hors 4 Eastern were invites TO surrender
their boCds 10 the reorganization commit
e1e Of the Northern Pacific railroad.
Whether they have done no to any great
extent In not known. II they have done 20.
then the reorganixed Northern Pacific VIII
prohabiy acquire the road as the bondbol5-
ers could probably afford 20 bid higher for
the road than any Of their competitors. I'd
70 the full face value OF their bonds II
need be-
should the bondhosders elect 10 get what
they can for the road and put up with tho
loss on their bonds there are at least two
ether companies which ought 10 be willing
20 pay for the road. ct the sale. at least its
fun value. under present conditional
Those roads are the Canadian Pacific and
Tho Burlington. The Seattle. Lake Shore
= Eastern already connects with the Cana
dian Pacific and gives II ar outlet TO the
cities Of the Found snd n link connecting
ths Canadian line with the entire railroad
system Of the Pacific coast. That company
should certainly be interested In seeing that
the Lake Shore road does not pass into
hoatilo hands. II In alleged that president:
Van Horne. Of the Canadian Pacific. will
~ on the Sound prior 10 the date OF sale.
Whether his coming has anything TO do
With the sale OF the Lake Shore road re-
Oafns to be- determined.
The Burlington. as everybody knows. has
~ line already extended TO Billings. Mont.
and nobody doubts that soon or late that
line will be extended 10 the cosst--aimoet
certainly 10 Puget sound. That company
has been one Of the most active In the field
IN soliciting business from Western WASH
inRfon for Its line. by way OF the Northern
IncfBc aUu oiiluEH. ana nav tbFfeeueG IN
attracting q large share Of the lumber and
ahinGie shipments 10 the middle West. Re-
cent action on the part OF the Northern Pa
cifc has tended 10 divert n great deal OF
this trade away from the Burlington. This
may have the effect of stimulating the
Burlington 10 e1tend It's line toward tho
Coast Should the Burlington desire TO
rrach the Sound country. the Seattle. Lake
Shore 4 Eastern would he a particularly
MA 40 -
not only has valuable terminal grounds and
franchises. but the road to saiai prairie
and the Eastern Washington branch are
each In . direct line toward connection
With the Burllngfon.
This completion Of the Seattle Lake
ohorc 4 Eastern across Snoquaimie pass
and Its connection with the Eastern WASH
ington section OF it, road would he parsics-
1ariy gratifying TO many Seattle people.
Who look upon that pass as the most
feasible route across the Cascade mount
aims In this state. Should the Burlington
acquire the road there IN no doubt that this
zap will be promptly filed IN. and that the
road vii be then extended from Spokane
20 Billings. possibly by way OF the PaIousc
country and the Clearwater pass This
would bring the Burlington through the
heart Of the richest section OF Washington,
east and west. and attach 10 Its transcon-
tinerta' system new sections the local
trafhc Of which alone viii pay fair interest,"
on the Investment. besides giving the Bur-
Mngton an outlet TO the Pacific.
II Is entirely conjecturai at present what
tire outcome Of the sale may be. Certainly
FOR tho interests of Seattle u will be bet
ter ~ the road passes into the hanas OF tho
Burlington, or falling that. that II may be
bought In by the hondhoiders and operated.
~ II has been under the recelyership
purely a. an Independent line.