Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1898-02-03

III nAAhANANh w WAhA AAAAhAaN WI
yesterday afternoon, in regard TO
securing the necessary money TO con-
struct the long-talked. Pecos valley
extension, the following special
dispatch from Colorado Springs, Colo. TO
the Denver Republican, will be interest
ing reading, not onlyt TO PecOs valley, but
to the territory at large:
Colorado Springs, Colo, Jan. 81
(5pecialD-Mr. Percy HaRerman at $3.50
this afternoon received a telegram
from his father, j. j. Hagerman. who has
been In New York for the past eight
years, stating that the big PecOs Valley
Il Northwestern Railroad company bond
deal, involving $2,000,OOO, had finally
been cOnsummated and the money turned
over 10 the railroad. These bonds were
sold for the purpose OF building an ex-
tension between Roswell, n. NJ, aud
Washburn, Tex a distance OF 2OB miles,
where IL will connect with the Denver u
Gulf and Santa Fe systems. A supple.
mental telegram received by Mr.. Hager-
man from his father announced that a
contract for 20,bO0 tons OF steel rails for
the proposed extension had already been
signed with a large eastern rail manu-
featuring establishment and that deliy-
cries would begin Immediately.
CONTRACTS 4 AT ONCE.
Contracts for the proposed extension
will also be let nj once, and IL Is the in
tention of Mr.. Hagerman 10 have the
new road completed and In operation
within six months. The construction
will be pushed with all possible vigor. 80
that the fall crops Of the PecOs valley Tor
this year can find a cheap outlet. The
S2.OOO,0O0 secured today In New York by
| Mr. Hagerman will not only build the
extension between Roswell and Wash
burn, but be sufficient TO equip the new
line, and also permit the making OF
many needed repairs ON the Pecos Valley
railway.
Theextension from Roswell TO Wash
burn will be known AZ the PecOa Valley n
! Northwestern Railroad company. This
company will absorb the PecOs Valley
Railroad company, and the entire system
will hereafter he known az the PecOs
Valley & Northwestern Railroad COM
pany. The receivership under which the
PecOs Valley Railroad company Ia now
operated will be discharged, a satistac-
tory arrangement having been made by
Mr.. HAgeTman with the b%OndhOlders OF
the road.
WILL BIZ A GREAT BLESSING,
The building OF the branch between
Roswell and Mashburn IL one OF the
most important projects In the south
west In recent years. IL means incalcu-
liable benefit to the great agricultural
territory known as the PecOs valley, and
will put that section OF New Mexico In
direct communication with Colorado and
Kansas City and enable the stock men
aud farmers there 10 compete with their
hitherto more favored %neighbOrs. IL will
reduce the time between Roswell and
kansas City 10 thirty.six hours, and per-
init the shipment OF live stock through
without stop for water or feed, and also
reduce the freight rates materially,
Hereafter shipments OF live stock from
the Pecoe valley 10 Kansas City, Omahs
and st. Louis have been greatly cur
I tailed, and even when made there has
|, been but small profit 10 the stock grow
= ers. IL il expected that fully 10000 car,
. OF stock from the PecOs valley will find 4
, market within one year after the new
line has been built, and the amount Of
agricultural produce that will DO ex'
ported IL almost inestimable.
;, HELP TO COLORADO, TOO.
The building OF the proposed extension
also means a great deal 10 Colorado. Il
, will place this state within a 20 hours
ride Of the Pee0s valley, whereas, II nov
a takes, because OF poor connections, MOI
than 30.
. 1t Is understood that the new bond
+ will carry 8 per cent interest per annun
The interest on the bonds for the frs
a two years amounting TO 100000, has al
ready been paid. This practically give
the PecOs Valley Il Northwestern peOpl
o three years In which 10 begin the deVel
Opment OF the country through whic
o. the road penetrates, and will be On
means OF placing 1t upon q paying basi
long before the time for the next interes
a to fall due.
II A BOOM FOR II VALLEY.
, The building OF the extension will uI
n dOubtedly cause a considerable boom /
Roswell, Eddy and the other towns In th
PecOs valley. These points are the cen
ter Of the largest %irrigating system In III
70 west. Several hundred thousand acre
~ are under the canal system, and over 90
900 acres already in actual. cultivation
n The company has always suffered on AZ
count Of its rem0teness from market
vi and the settlement has been retarded o
ID that account.
The PecOs valley raises almost ever
10 variety OF vegetables and fruit, except n
- citrus fruits, and when the large market
III of Colorado and Mississippi river point
g. can be quickly and cheaply reached, IN
development In the valley will prOcee
"A with wonderful rapidity. Two years az
" the beet sugar industry was started |
~ the Pecos valley by the erection OF a fa'
". tory having a capacity OF 200 tons ~
n. day at Eddy, This factory has just Oh
no. ished its second successful campaign, al
20 II will probably be enlarged before q
ls next season. The increased facilities O
fered by the new railroad connection wi
doubtless result In the rapid extension
the beet sugar business In the PecOs va
We ley, and the present tiOurishing cOnditi(
NJ Of the cattle business in the southwe
makes the future prospects OF the PeeC
Valley Il Northwestern railroad very fla
al tering, and Il will undoubtedly he n
H. the most profitable railroad enterprises
hs the west.
lbs SANTA FE.