The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-10
SALE OF THE
SHORT LINE.
A Schilling & Company
San francisco

Continued from Page u
Henry C. Nichols, on behalf of the
reorganization committee, l bid 1858,
000,' and accompanying the same by
a certified check of $4,000 on the Ma
tional Bank of Commerce, Boston
Master Cornish accepted the paper.
More congratulations followed. Re-
ceivers Doane and CCudert grasped
Chairman Carrs hand and the whole
party went over to see a person in the
special train, while the spectators di-
verted themselves until u o'clock by
laughing at a travelling Uncle Toms
Cabin" company, which started with a
blare from another special car.
THE LAST SALE.
At noon the master in chancery
opened the third sale under the Utah
Southern extension mortgage. The
! same tone of voice and the same atti-
tudes prevailed. Counsel Nichols bid
{ 1875, 900 and proffered his check of $780,
900, which was accepted. According
to the stipulation Of the decree in the
matter of the Utah general mortgage
bond, the bid could not fall below
100000 and the successful one of the
reorganization included the accumu-
/ lated interest on the bonds.
In the Utah Southern extension
mortgage bonds the required bid was
/ 100000, and that of the committee in
4 Guided, as before, the interest on the
/ total sum. The total amount in certi-
fled checks now in the hands of the
special commissioner and the special
master is 5000, OOO all issued by the Old
Colony Trust company on the Ma
tional Bank of Commerce, Boston. The
special agents of the circuit courts
will now make their official reports of
the sale for confirmation, after which
being done the new company may en-
ter into full possession of the acquired
property, placing in the hands of the
government present bonds sufficient to
insure the payment of s7,1S5,50O, the
price which the United States has ac-
cepted in lieu of the Short Line.
WILL REMAIN UNTIL TUESDAY.
Chairman Carr and Counsel Nichols
will remain here until next Tuesday to
complete some legal business in con-
nection with the transfer. The other
members of the Union Pacific party
all left the city last evening for Den
yer, where the annual meeting of the
receivers will be concluded. Lawrence
Greer accompanied them.
S. w. ECCLES APPOINTED
Almost Immediately after the last of
the three sales, s. w. Eccles was form
ally appointed general traffic manager
of the new system as predicted for
some time by The Herald. Other than
the selection of Mr.. Bancroft as gen
eral manager and Mr.. Eccles for the
above mentioned position, nothing else
will be done in the matter of appoint
mentS until after the regular incOrpO-
ration of the new company under the
laws of the state most favorable to
the new line. 1t being the vogue to
allow a general manager and traffic
manager to arrange their own staffs,
this custom will not be departed from
IN the case of Bancroft and Eccles, so
that it is quite probable most of the
employees now under these officials
will stand a good opportunity.
THE FREIGHT AND PASSENGER
AGENTS.
There is a strong probability that
neither a, general passenger agent nor
a general freight agent will be named.
the creation of such positions not be-
ing in favor with the incoming admin
istration. The duties of these Offices
will be a direct portion of the general
traffic managers department without
title. Another matter of considerable
interest is the information that Sam
uel Carr will become the president of
the new company and Henry c. Mich
OILS general solicitor. At an early date
the division Of rolling stock belong
ing to the Union Pacific proper and the
Oregon Short Line viii be made with
all other property accruing to the new
organiza ton. Meantime the business
will go on under the Union Pacific
management. probably for 60 or even
90 days. when General Manager Ban
croft viii quietly resign from his pres
ent position and resume business with
out delay.
UNION PACIFIC CHANGES.
Nothing definite could be gathered of
Union Pacific changes made necessary
by the Short Line sale. 1t is under
stood upon good authority that Su-
.perintendent Deuel. Of the Colorado di-
vision will have added to his iurisdic-
ton the segregated stretch Of the
Union Pacific from Cheyenne to Og-
den by way Of Green River. and d gen.
eral office of the old system viii be
continued in Salt Lake.
THE MILEAGE CONVEYED.
The total mileage conveyed in yes
terdays sale was APP, distributed in
the following manner: Oregon Short
Line proper from Granger 10 Hunting
ton; Utah Northern. rom ogden to
Silver Bow; Utah Southern, from Og-
den to Juab: Utah Southern Extension,
from Juab to Frisco The distribution
of the Oregon Short Line and Utah
Northern mileage in Utah embraces
Ogden to Frisco. PAT miles; Syracuse
Junction to Syracuse, % miles; Salt
Lake City to Terminus, 81 miles; Salt
air Junction to Saltair. 2.5 miles; Lehi
Junction to Tintic: 80 miles; Ironton
to North Spy mine, 6.S miles Mann
moth Junction to Eureka, 80 miles,
giving a total of 3S2.S miles. In Idaho
the mileage is thus distributed: Gran
ger to Huntington, 5413 miles; Sho-
shone to Ketchum, 69.5 miles; Nampa
to Boise City, 1875 miles; ogden to Nc
Cannon, 110.6 miles: Cache Junction
to Preston, AZ miles; Pocatello to Silver
Bow, 255.5 miles, total in the Idaho
division of 1884 miles
The total mortgage bonds cucumber
ing the Short Line before it's segrega-
ton from the Union Pacific system
was SIS, 600 900. Now it is relieved of
this debt by the purchase of the line
by the bondholding interests which
merely place in the hands of the gov
eminent bonds to the amount of the
purchase price. The intrinsic value of
the property. devoid of debt, is about
S12, 500, 000
TT. TT q G.5L