The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-05
ORGANIZE THE WISCONSIN
CENTRAL LINES.
MOVEMENT is A SURPRISE.
SAID TO BE THE RESULT OF FAIL
URE TO AGREE WITH
Abbott. IS
THE ARTICLES FILED AT MADISON
Capital Fixed at So Nominal "a Sum
That 1t Fails ito Indicate
Anything.

MILWAUKEE,, Wis, Jan. 4.-The
Evening Wisconsin today prints the
following relating to the status of the
Wisconsin Central lines:
/ That the properties of the Wisconsin
Central company and the Wisconsin
Central Railway company will within
comparatively short time be entire
ly reorganized, and that they will pass
into other hands than those of the men
who control the old companies. seems
almost certain. This belief is fortified
by the somewhat mysterious formation
OF the recently organized Wisconsin
Central Railway company, whose ar
ticies Of incorporation were filed 1T
Madison. That the present movement
is a new one, and that it comes as a
great surprise to Edwin H Abbott. one
of the receivers of the property, and
others for years directly interested in
the management of the Wisconsin Cen
tral lines, is quite apparent from the
manner in which the news of the step
has been received by them.
1t is limited in certain circles. SUD-
posed to be fully conversant with the
condition of things in the Central COM
panies, that the new move is the re-
suit OF a complete failure of the Wis
consin Central reorganization commit
tee and the creditors of the Central
lines to complete satisfactory negotia
lions with Edwin H. Abbott. Mr.. Abb
bott, the former president of the Wis
consin Central lines, practically owns
and controls the lines from Manitowoc
to Chicago, via Neenah and Menasha.
1t is claimed by some of those who un
derstand the whole deal, that the Ell
tire property would have been reorgan-
lied six months or year ago had the
gentlemen back of the reorganization
matter been able to make a mutually
satisfactory agreement with Mr.. ABB
bolt. 1t is said that he held his in
terests in the new ManitoWoc line, as
well as in the road from Schlessinger-
Vile to Chicago, at a much higher
figure than the reorganization commit
tee was willing to concede. W. D. Van
dyke, Attorney G. p. Miller and several
other attorneys are examining the rec
ords, leases, ETC., of the property to-
day
When seen at his office today and
asked about the new move Receiver
and General Counsel Howard Morris.
said: Neither Mr.. Whitcomb nor my
self know anything whatever of the
recently organized Wisconsin Central
Railway company. AS receivers of
these properties, we have nothing
whatever to do with any movement to
reorganize them. We are simply oper-
ating the property under orders of the
court, and we are not In the confidence
of any one who may be engaged in
reorganization" w D. Vandyke, when
asked as to whom the newly organized
company is directly representing, and
what the company desired or expected
to do. said he was not prepared to
make any statement for publication 81
this time.
The articles of Incorporation filed at
Madison contain the names of George
d. Vandyke. William D. Vandyke, ".
E. Carter, Thomas P. Carter, Charles
McAnderson and James L. N. Norman
The articles declare thatithese gentle
men shall constitute the board of di-
rectors, ito act fer one year. The
articles also set forth, as the objects
of the new company, that it proposes
to, either by purchase of the bonds,
obligatioTs S, securities and capital stock
of the several corporations hereafter
named. or some of them now owning
and controlling the same or by acquisi-
ton of existing leases thereof, or by
purchase from time to time of all or
portions of the property, real, personal
or mixed, or by some or; ali of these
methods, to acquire possession, owner
ship and control of the following nam
ed railroads. alreadys2construct and
thenceforth to maintain and operate
the same, to wit: Then follows a lis,
of Wisconsin Central properties.
The capital stock of. the new COM
pany is placed at $25l0). which is
merely a nominal sum ard means moth
ing in connection with the proposed
purchase and control of the Wisconsin
Central properties. This is divided in!o
$50 shares of the par value of 800 each
all of which is to be common stock.
OF these shares cighty-three are taken
by w. D. Vandyke. eighty-two by
George D. Vandyke, and eighty-two
by w E. Carter. and the other d;-
rectors named take a share each.