The Saint Paul globe., 1896-07-24
RE0RG GANIMATION COMMIT
TEE IN sTHE CITY.
DETAILS FOR THE BIG SALE.
Il. w. WINTER, AS PRESIDENT,
WILL BUY In THE PROPER
TN TOMORROW.
EVERYBODY WILL he ON HAND
After the Transhction at Superior,
Land Sales In, Different States
Will Follow.

The financial end Of the Northern
Pacific reorganization scheme. In the
persons of Edwin D. Adams, chairman
OF the reorganization committee, and
Z. IL. Coster, reorganization manager,
ana associates of J. Pierpont Morgan,
arrived In the city yesterday from
new York, and were busy all day fin
lshlng up the local details for the sale
OF the road at West Superior on Sat
urday.
Ine gentlemen. come straight from
the money barons who are to buy the
road, having stopped only at Milwau-
kee to attend to certain court matters.
Messrs. Adams and Coster are at the
Aberdeen, and will leave for Duluth
PROBABLY on special train tonight.
accompanied by the attorneys for the
reorganlzers, the attorneys for the re-
celVers, the higher officials Of the road
ana others. The division superintend-
ents, land agents, and other officials
VIII also go to West Superior, where
the last act in the great financial
drama connected with the Northern
Pacific will be played. and the curtain
Will be rung down upon the existence
OF the old Northern Pacific Railroad
company. All the details for the sale
and transfer of the very valuable
deeds have been made The directors
OF the new Organization held a very
important meeting at Milwaukee late
tuesday night and Mr.. Winter was
formally elected president of the
Northern Pacific Railway company.
which will be the name of the new
concern. AS president of the company.
Mr Winter will buy in the road, and
will receive the deeds. Payment will
De made in bonds. arrangement for
which have long been made.
Inc sale will come off without fur
ther trouble, If Mr.. Adams expecta-
tlons are not upset by unforeseen
events. The tremendous transaction.
involving millions and millions of dol
lars, is not expected to occupy over an
hour and "a half or two hours. More
time will be consumed in reading the
long and tedious notice of sale than
In anything else, the notice compris-
Ing over three columns of fine type
From Superior, the reorganizers will
go West to attend the sale of lands
In the different states traversed by
the road. The programme has been ar
ranged so as to allow the participants
plenty of time to move from place to
place. t
The first parcel will be sold at Man
dan, N. D., July 27; the second at Mis-
seula, Mont, July 90; the third at
Rathburn, Idaho. July 31;y the fourth
at Seattle, Wash, August g.. and the
fifth at Portland-Or., August 4, which
completes the sale Of lands. This
will comprise the entire property, and
after the last parcel is sold, the deeds
will be given to the new corporation.
and under the laws of the state of
Minnesota, the new corporation viii
come legally into existence
Mr. Adams was asked to outline the
policy OF the new corporation in it's
management of the road, but declined
to answer. He also declined to name
the personel Of the executive staff, as
well as the vice presidents, saying
that these matters had not as yet been
considered. Whether or not New
York will have resident vice presi-
dent, Mr.. Adams would not say.
President j. j. Hill, Of the Great
Northern, called on Messrs. Adams
and Coster last evening at the Aber-
deen and latereNr., Adams accompani-
ed Mr.. Hill to his home. There might
not have been anything significant in
that fact, but4a as the twain left the
Aberdeen arm in arm, and with hzads
close together, in deep conversation.
other railroad lnagnates present
cooked their weather eye and looked
wise. a.: