Kansas City daily journal., 1897-01-05
SAID TO Be CLOSED,
PROGRESS OF NEGOTIATIONS FOR
PURCHASE OF WINNER ROAD.
THE UNION AVENUE OFFICES.
PROPOSITION TO CLOSE THEM Is
AGAIN CONSIDERED.
The Interstate Commerce Commission
asked to Investigate the "I<aty's"
Grain HusinesS-U. y. Re
cciyers to Meet-RaiI-
road News.

The sale OF the Kansas City & Atlantic
CWinner road to the StiIweII interest is
said by the Bates people TO have been con-
sunimated. while Mr.. Stilwell and his as
scciates pronounce the report as silly,
a foiry story and fake The negotia-
ticns between Theodore c. Bates, presi-
dent Of the Kansas City & Atlantic, and
President A E. Stilwell. of the Missouri.
Kansas and Texas Trust Company.
we're opened about three months
ago. 1t is rcprted the first PROPOSE
tion looking 10 the purchase of the Kan
sas City & Atlantic by the Stilwell inter-
est was made by Mr.. Bates. The road is
81 miles in length, extending from Kan
sas City TO SmithvilIe. 1t includes the
Winner bridge and the terminals on both
sides of the river. Mr.. Bates has made
three visits to Kansas City during the
pendency of the negotiations. 1t is report
ed that his first proposition to sell to the
Sulwell interest contemplated boom prices
for the property. Mr.. Stilwell fatty re-
fused to consider this proposition, but is
understood to have expressed a willing
ness to take the road at something be-
tween one-third and one-half the price
asked by Mr.. Bates.
The negotiations remained in that state
until short time ago. when it is under
stood Mr.. StiIweIl submitted an offer to the
Bates interest for the road independent of
any other property the SUCCESSORS to the
Winner scheme might have; that is. the
purchase was to include the roadbed of
the company, but not the bridge, terminals
or real estate of the company Mr.. Still
ID.
that he had completed negotiations for
the use of the Milwaukee bridge. for which
reason he would not need the Winner
bridge or terminals.
Mr.. Bates made a counter offer to Mr.
Stilwell. lowering his price considerably
the deal to include the bridge and termin-
ais, however, and the latter negotiations
have proceeded on this basis. Il is under
stood that Mr.. StilwelIs arrangement with
the Milwaukee people for the use of their
bridge consists only of an option granted
him by that company. and thac the con-
uaCt has not yet been signed, although
at the time of the negotiations it was
contemplated that a long time lease would
he made.
Mr.. Stilwell is said to have made anoth-
er offer to the Bates people, to take the
bridge and terminals at figure named
provided the present owners would COM
plete an ordinary single track railway
bridge, eliminating the various other
lectures contemplated. These, in the
Patet project, included a driveway, foot
passenger way and an electrical cable
railway in connection with the railroad
bridge. Mr.. Bates was unwilling to agree
TO this plan. claiming that the large
realty holdings OF the company. of which
he is at the head. would suffer by the
non-completion of the bridge on the plan
originally outlined. In the interest of the
property values of the company's holdings
in Clay county he insisted that the bridge
Should be built on his plan.
Within the last few days the negotiations
have been carried on with these differ
cnces between the two interests and ac-
cCrdinS TO the statements of the Bates
people a satisfactory understanding has
been reached. Whether the consummation
of the deal contcmplates the completion of
the Winner bridge on the lines originally
planned. or on the basis of Mr. StiIweIl's
latest offer, or at ALL could not be ascer-
tanned yesterday. The different parties
in interest were reticent In discussing the
subject. The purchase price could not be
learned.