The herald., 1897-05-04
For Atlantic and Pacific
Property
TWELVE MILLION DOLLARS
GIVES THE ROAD TO THE SANTA
TE COMPANY
Union Pacific MISREPRESENTATION
\. pacinc's Annual Report Of Earn
ings and Expenses for 100
Associated Press Special wire.

DENVER, Col, May "a special to
the Republican from Albuquerque, N.
NJ, says: The Atlantic and Pacific rail-
way was sold at Gallup, this county. at
noon today for $12.oO0,0OO The only bid
der was Aldace F. Walker. chairman Of
the board OF directors of the Atchison,
Topeka and Santa Fe Railroad compa-
ny. Mr.. Walker and the two other men,
bers Of the purchasing committee, Vic
tor Morawitz. general counselor, and
Il. Somers Hayes, director. with several
Atlantic and Pacific officials, including
Special Master O. N. Warren and Judge
N. C. Collier returned to the city this
evening and were met here by 2. d.
Kenna, general solicitor for the Santa
Fe company. Judge Collier win confirm
the sale in chambers tomorrow morning,
after which Mr.. Walker and party will
60 west to have the purchase confirmed
before the district Judge at Prescott,
Arizona, and Los Angeles.
UNION PACIFIC LITIGATION
OMAHA, Neb., May 3.-In the United
States court today attorneys moved that
the receivers of the Union Pacific be
made parties defendant in the suit
brought in the name Of the United States
to divorce the Union Pacific and West
ern Union Telegraphic companies, Judge
Munger granted the motion and set the
case for hearing on May Is.
1t is understood that the move was
made solely to gain time and has no inn
mediate bearing on the ultimate out
come,
SOUTHERN PACIFIC EARNINGS
NEW YORK, May 3.-The annual re-
port of the Southern Pacific for 1896, just
issued, shows gross earnings for the
year to have been $44. .666, ,466, a decrease
o. $1,790,357; operating expenses, $751;
962, ,206, decrease of 81 .2S0, ,22S: net earn
ings, $16,704, 400. a decrease of $50, ,12S:
surplus after charges, $1,789553, de-
crease of $3s5.66s.
The sum Of $S00.019 was expended for
betterment of proprietary liens. of
which $685. was charged to capital ac-
count. Steel rails were laid over 1853 miles
and these, together with those renewed
ard tie plates, were charged to operat-
ing expenses.
CLARK'S RETURN
STOCKTON, May S.-Ratiroao COM
missioner w. r. Clark returned yester-
day evening from an extended visit In
the east and left this evening for San
Francisco to attend the session Of the
commission tomorrow.
CONVENTION RATES
DENVER, Col, May 3.-It Is under
stood that an $18 rate has been agreed
upon from Denver to Salt Lake and re-
turn for the pioneers convention at the
latter place.
SAN FRANCISCO, May 3.-The valley
road Is making rapid progress in the
work Of laying out the route and secur-
ing rights Of way for its Line between
Richmond and Stockton. The directors
concluded negotiations today for right
Of way through the McHarry ranch in
Contra Costa county. This right Of way
covers stretch of hilly country which
Is to be penetrated by a tunnel one mile
in length. With the exception of the
Tehachapi tunnel, which is 1000 feet long
and one Of the tunnels in the Santa Cruz
mountains, which Is 5000 feet in length
the valley roads tunel will be the longest
tunnel in the state and win involve nm
expenditure Of several hundred thousand
dollars.