Albuquerque weekly citizen. (Albuquerque, N.M.) 1891-19??, 1896-01-11
THE RAILROAD CASE.
Probable Eject Of the Sale Of the At
lantle 4 Paeinc.
TO BUILD A NIw LIVE.

The Chicago Tribune, which Is always
we'll informed regarding the movements
and Intentions " the Ntchi-nn, Topeka \
santa IL Railway company. has the FOL
lowing IN relation {" N" important mat
ter now pending
The amount Of tif-l mortgage bonds "
the Atlantic n Pacific held by the bond
holders committee /, tibuO.uD cut 81
total issue " tlS,"uU' The second
mortgage boui- which are held 10y the
Atchl-pn, Topeka n santa tc And the ~.
Louis \ san ftancisco fudd- amount 10
only tj,uu,un, II Is believed the south.
efn Pacific people held ont the hope a. the
first mortgage bundhuldrf- that II they
iorrclu~ed the Atlantic ~ Pacific them.
selves, instead ~ allowing the second
mortgage bondholdcts g. trutganiEe II,
they would h. able tn secure the fun
amount ~ their bonds, bvcau-r the Al.
chi-ou, Topeka y Santa Re would have 10
pay the amount 1T the Nt.i mortgage
bonds ~ more II II desired /, krrp the
property
d" the Nrh-un, Topeka y s,nta be- IT,.
organization commute" clalu- the At.
lantlc y Pacific l. not worth the amount
~ the first mortgage huud-, 1lNl'Uu''t
Hail that amosnt l. all they CONSIDER II
worth They offered, II l. uudrt.t-d. the
first mortgage hunhholdrf- ililS GENTS on
the dollar HIS amount would probably
have hs'cu accepted, and the foreclosure
hy the old receivers would have taken It's
course, lad not the southern Pacific held
out more favorable Inducements lo the
ut-t murtgag" hundhuldet-.
The Atchl-ou, topeka " santa Re IT,
Organization committee had IN mind. hu
doubt, Just such II coRtngrncS u, has
u"" arisen when II framed it, rrofgani.
Lallun plan iva years ago. Such action
wa taken then a. will enable II now a.
meet the changed condition ~ anaIts
without any embarrassment A. regards
the foreclosure" 81 the Atlantic n Pacific
fcrrrd Ia provides
" In ca-" the JOINT executive committee
shall determine not a. acquire the rail
road ~ the Atlantic X Pacific Railroad
company. ~ ia case the holders ~ the
guaranteed trust gold bonds ~ said com
pany shall refuse to accept such terms ~
shall hc offered a. them 10y the joint rX.
"cutiNr committee, then IN either ~ such
events the joint executive committee may
prt apart aud use such portion II the 4aid
S2nnnon the general mortgage bonds
ana $@o."n.uN Of preferred stock as 1t
shall deem necessary for the constr uctinn
III new line ~ railroad Ia connect the
railways III southern California embraced
III the Atchson. Topeka X Santa Fr sys-
TEN with the portion II the system stu.
atrd IN New Mexico
The southern Pacific, II II gets The Al.
lsulic ~ Pacific. even at n cheap price,
will have II white elephant on its hands.
and "A, the same time will not succeed III
forcing the A,chison, Topeka y santa out
m California, for the latter viii nj once
Proceed Ia construct n new line from
albuquerque ur some other point on It's
line IN New Mexico Ia the Needles, and
thus secure IL better connecting link hr
tween it, line Ia New Mexico and IT.
southern California lines than It has had
before.
"A new Rad parallrling the Atlantic n
Pacific from Albuquerque Ia the Needles
will. II Is estimated. cost only about
tSnunnn The distance Is 30 miles.
aud read can he build for ti311 II
mile This j. less than 0neh half IL the
par value ~ the first mortgage bonds oi
the Atlantic X Pacific. II II the reason
why the Atchi-on, Topeka X santa Fr
people have decided Ia let the first mort.
gage bondholders take the PROPERTY and
fnrrrlu~e II H. they may deem hest.
In tins connection II should h. stated
that tho Atrhison, Topeka y santa Fr
company now owns all the equipment
aud rolling stock VI the Atlantic y Pa
clLc. and consequently no nrw outlay
would have Ia be- lnsie for the rquipmen,
~ the new road. The Atchi~on. Topeka
\ santa fr company also owns the bridge
across the Colorado river nj the N-,dlrs,
AMI whoever acquires the Atlantic X Pa
ciiic. except the santa fr, would have IL
rxprnd several hundred thousand dollars
Tor u Few one.