The silver blade. (Rathdrum, Idaho) 1895-1903, 1896-05-16
SALE OF s., |. s. & E.
BELIEVED THE ROAD WILL mn
ROUGHT IN BY BONDHOLDERs.
washingtOn Central May Buy the
Eastern End of the Seattle, Lake
Shore & Eastern.

spokane, WASH, May 13.-(Special1-
Lively interest is taken here in the sale
If the Seattle, Lake Shore & Eastern rail-
road advertised to take place next Satur-
dav at Seattle. A well-informed railroad
man said yesterday that he had reason to
believe that the property would be bought
in by the bondholders, and that their com.
mittee is even now seriously considering
a proposal to dispose OF rne eastern end
of the road to the bondholders of the CEN
tral Washington. This would give the
Central Washington direct entrance into
Spokane, and make it independent of the
Northern Pacific. 1t now connects with
the Northern Pacific at Cheney.
"You do not believe, then, that the Gen.
trail Washington bOndholders will come in
under the Northern Pacific's plan Of reor-
ganzation?'
Il doubt it. The bondholders' committee
seems to have a thorough understanding
of the situation. and believe realizes the
true value Of the property. If the Central
Washington could secure the Spokane end
of the Seattle, Lake Shore & Eastern, and
then extend it's line to Waterville and the
Columbia river, 1t would have the nucleus
of one of the finest railroad properties in
the west. I should not be surprised to see
Bend plateau, Is or 30 miles beyond Coulee
City, the company resting there for an
other year for a clearer vision and decis-
ion as to whether it would be better to
make for Waterville or the Columbia
river"
Speaking Of the sale Of the Seattle, Lake
Shore & Eastern, the Post-Intelligencer
says:
General John III. Bryant. receiver Of the
Seattle, Lake Shore & Eastern railway,
returned on Saturday night from his trip
to the east. General Bryant's period OF
service as receiver of the railway company
is probably nearly at an end, for If the
sale of the road takes place. the entire
property will pass into the hands OF the
purchasers, and nothing will be left for
the receiver to do except to distribute the
resulting funds, under the direction OF the
court.
AS far as the sale Of the road is con-
cerned, there are no developments, al
though it is surmised that Mr.. Bryant's
recent trip east had more or less to do
with the matter. Unless the United States
court should. in the meantime, decree
otherwise, the sale will take place, as
advertised, on Saturday next. None OF
the interests represented in the litigation
have evinced an intention to oppose the
sale at the time mentioned. term OF
the United States circuit court and dls-
trict courts will commence this week,
the opening day being Thursday, May a.
II any move is to be made in the direction
OF securing an adjournment of the sale, 1t
will be on the opening day OF court, %
on Friday at the farthest.
Speculation is still rife as to the prODa-
ole purchasers at the sale, but nothlhs
really tangible can be learned. IT any OF
the railroad companies mentioned as
prospective purchasers have any real de-
signs in that direction, they have not
been taking the public into their conn
dence and their local representatives nave
no information to impart on the subJect
The general consensus of opinion among
tnose who hazard conjecture on the SUI
Ject seems to have settled on the bellet
that the road will be bought in by the
representatives of the bondholders. and
that no other bidders will present them
selves at the sale, and that If any OF the
companies mentioned desire to secure the
road, they will do so by dealing directly
with the bondholders after the sale, and
not by appearing as bidders at the SAFE
The argument advanced in favor OF TINS
View is certainly a forcible one 1t is
that the bondholders can buy the ROAD
without being compelled to put up any
money beyond the court costs; While any
other purchaser would have to pay INTO
court, on confirmation Of sale, the run
amount bid in actual money. II the boho-
holders take the road, purchase IRON.
tnem would readily be made in bonds o.
the purchasing company, secured IN par'
or entirely by the road itself. However,
next Saturday will determine the whois
question.