The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-01-10

lying in five OF the western states, was
OF great interest 10 railroad men in the
inter-mountain country.
These events were legal forms by
which the several branches of the Union
bid by the holders of liens upon them,
and are TO be followed by a re-organi-
cation Of the officers and employees of
the lines involved.
The first sale took place at the county
building at 10 o'clock thisAmorning, the
special master in chenceryW. 3. Cor
nish OF st. Paul. acting as auctioneer.
He read in the presence of the as
sembled crowd, which included many
prominent railroad men, the notice Of
the sale, published by order OF the court
which was a lengthy document, and
then asked for bids.
The property embraced the Oregon
Short Line, from Granger, Wyo TO
Huntington. Ore; the Utah Northern
from Ogden. Utah, to Silver Bow,
Mont; the Idaho Central, The Utah Cen
trail, from Ogden TO Salt Lake: the Og-
den and Syracuse, the Utah and Neva-
da, from Salt Lake TO Tooele, Utah; the
Salt Lake and Western. from Lehi juno
ton TO Tintic. Utah: the Utah Southern
and the Utah Southern extension.
On these roads there was a consolid-
ated mortgage embracing all of the
property. The first sale covered the
property north of Salt Lake.
The next two sales took place at the
Union Pacific depot and covered the
property south of this city.
There was no competition in the bid
ding, Henry G. Nichols, who acted for
the purchasing committee. put up his
nj for
der of sale
NEW THINGS IN PASSES.
Chicago. Jan. 9.-The general manag-
ers OF the western roads have decided
upon a new departure in the use of an
nual passes during 1897. Heretofore It
has been the custom when a pass was
presented for the conductor to simply
take a look at II and pass on. In every
instance no report was made 10 the road
OF the presentation OF the pass. Now.
however, the roads have determined that
whenever a pass Is presented the holder
will be asked to sign his name, and A
memorandum of the distance Travelled
on each pass, as presented. will be turn
ed in by the conductor The object OF
the new rule Is TO learn how much the
passes are used. and it is expected that
the abuse of them will in a great mea-
sure be relieved
THEY WOULD HAVE THEM.
Chicago, Jan. 9.--Members Of the Gen.
Central Passenger committee are some
what surprised at the manner in which
the travelling men of the country are
acting in regard 10 the intercha liable
5.OO0-mile tickets. for which they made
such persistent demand. For months
the travelling men, individually and
through their organizations, kept after
the roads. as though 1t were a matter of
life and death that they should DE given
this particular sort OF ticket. The Cen
trail Passenger committee. after agree
ing to the sale of the tickets, organized
a bureau for their sale, and placed
Chairman Donald Of the committee, in
charge of the bureau Every arrange
ment was made TO meet heavy sale of
the tickets and repeated notices were
made TO the effect that they would be on
sale January /. Up 10 date there have
been just ten tickets sold and the de-
mand has shown no signs OF increasing
The western roads, which have been
standing out to see how the matter
would go after the sale had been CON-
menced by the lines Of the Central Pas
senger committee, are not much i'm
pressed with the manner in which the
travelling men have been buying up the
badly needed, and il is altogether likely
that they viii not hasten the action re-
garding the sale OF the tickets. If there
had been any heavy demand for the
tickets placed on sale, 1t is almost Ger
tain that he western lines would, at their
coming meeting in this city, have placed
the tickets on sale
GERMAN BONDHOLDERS KICK.
Frankfort, jan Strong opposition
Is evinced among the local and South
German bondholders of the Atlantic and
Pacific railroad 10 the Atchison's offer
to purchase the road.
CANAL AND LAKE COMPANY.
Albany. y. Y, Jan. 9.-There was fl
ed with the secretary of state today a
certificate of Incorporation OF the Con-
solidated Canal and Lake company to
build for its own use and TO charter and
navigate steam, sail or other boats on
the great lakes. Erie canal. BAY OF New
York and Long Island Sound The cap
ital Is $50. 900. the limit allowed by law
for canal companies. The directors are:
Charles A Pillsbury. Minneapolis:
Brsgford c. Crucb. Duluth: Ebert a
Young. st. Paul: George H. Raymond,
and Frank Beadle of Buffalo; Samuel r.
Hart. Englewood, y. j.; Franklin Edi-
son. John A Cormack and Erastus W.
man. New York.
TWENTY MILLIONS MORTGAGE.
Chicago. Jan. "A mortgage for so
600 600. given by the Commercial Gable !
company Of New York. 10 the Farmers
Loan and Trust company. was fled In
the county recorders office today The !
company. under the mortgage. issues |
coupons. payable IN gold. and bearing I
per cent interest. The instrument states /
that the cable company has bought all |
the property and franchises OF the Pos 1
tai Telegraph company. and tie bonds 4
are 20 be issued 10 pay the Indebtedness I
Of the company and for the purchase OF /
the property. shares and capital stock i
OF the two companies. They are 20 BE- 4
first mortgage bonds, partly coupon /
and partly registered. The bends viii 4
mature Jan. !. 23e7. and bear Interest 1
from date. which is payable quarterly at (
4 per cent a year According 10 the \
terms % the instrument. the h0lds may
b. converted into English sterling obi 4
cations 70 BE- known as dsben;uFs stock
The mortgage Is frs len CT the stock i
OF both companies Tire property on
which the mortgage is given consists % 4
two parts-the rights and franchises o.
the Commercial Gable company and The
rights and franchises % the Postal Tel
sgrsph company.
SHOULD THE FUNDING ELL FAIL