The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-01-21
SILL HUNT F||RB||NDS
Northern Pacific Beats the
Canadian Pacific.
KANSAS CENTRAL SALE.
Railway Conductors TO Tour
Old Mexico.

Nesy York, Jan. 2O.-The Herald says:
The safe of the Seattle and International
road saas been decided by the announce
mentsthat a sufficient number of Seattle,
Lake Shore and Eastern bonds had been
ACQUITTED by Messrs Moore and Schley on
behal, of the Northern Pacific company
TO uIiset the plans of the Canadian Pa
clfc.
Age ats of the Canadian Pacific had been
on stiIl hunt for seevral weeks among
the owners Of bonds with the object of
secur ng a lease of the Seattle road in ex-
change for guarantee and cash pay
ment of $50 a bond, with an option of a
purcf ase at T71k. They had secured the
assen Of large number of owners before
the Northern Pacific became aware of
what was going on and it was only last
Satnr lay that measures were begun to
checkmate the movement of the Cana
dian Pacific.
The interest of the Northern Pacific in
the n after is somewhat greater than has
hithei 20 appeared on the surface. 1t will
be req allied that before the Northern Pa
citic went into the hands of receivers it
guaranteed the bonds of the Seattle, Lake
Shore and Eastern and that when the
Northern Pacific became insolvent, the
guarantee was supposed to have 1apsed.
The holders of the bonds, however, con-
tend his point and the matter is still un-
settled. There were also other claims
against the Northern Pacific which were
troubkssome and therefore under these
conditions the Northern Pacific directors
were advised that should the road pass
into the hands Of the Canadian Pacific
the ciidms might be pushed with unpleas-
ant clergy and with a grave possibility
that they might be collected. This would
mean an enforced expenditure of several
million dollars for which the company
would receive nothing.
Furthermore, Is was recognized that
the Seattle company had valuable ter
minais. at Seattle and Spokane. Alto
getBer, therefore, the reasons for con-
trolling, the property, aside from the de-
STABILITY to keep it out of the hands
of the competitor, were sufficiently urgent
to justify prompt action.
The question of the price was of sec
ondarls Importance but it is quite certain
that the figures paid were not excessive
when all the benefit to be derived by the
Northern Pacific is considered.
The directors of the Northern Pacific
met yesterday and it is believed the pur-
chase ,of the bonds in their behalf by
Messrf Moore and Schley will be tho
result. No official Of what had been done
was made but it was learned that the
directive were well satisfied with the re-
suit The fight for the control has been
one Of the briefest and sharpest in the
hsss1ry Of Well Street
KANSAS CENTRAL'S wIND-UP.
S.eavenworth, Kan, Jan. 20.-Ex-United
Staxes Marshal Nicely and deputies start
ed in today TO levy on the real estate of
the Leavenworth. Kansas City and West
ern railroad, formerly the old Kansas
Central railway to satisfy deficiency
Judgment held when the rolling stock and
roadbed were sold in November last tc
satisfy the mortgage of the Union Trust
company of New York. 1t did not bring
within a million and half dollars of the
amount held against it. Marshall Nicely
Is serving the papers as unfinished bust
ness before his successor takes charge o.
The Office, and he has levied on the depots
Miltonvaie, Green, Olsburg, Leonard
Vile and other places along the line tina
viii soon be sold at auction
TOLEDO Is SAFE ENOUGH.
ST. Louis. Jan. 2O.-vice President an
General Manager Ramsey of TIE Wabas
saws. today that there is no truth in tn
statement that the Wabash intends t
huild an independent line into Toledo o
10 make that city a side track, as Ia
heen reported. Toledo is one OF on
most important terminals said Nj
Ramsey. "and all this talktabout maxim
It a side track is ridiculous and foolish.
TOWARD IRON AND TIMBER
Menominee, Mich. an. 20.-At the ar
nual meeting of the Wisconsin and Mich
lgan Railway company, held at Mar
nette, s. NJ Fisher was elected presider
and general manager. The company WI
boat bonds to aid in the proposed e.
tension of the road to the Menomine
iron range and new timber belts to II
north. The estimated cost of the e.
tension is $5S0.OO0.
CONDUCTORS ON A TOUR
st. Louis. Jan 2O.-The delegates to Il
thirtv-third annual convention of the R
TABLE Railroad SonuuctoTSA 4@lAe A.iSes
Rnce association, which has been In Sc
sion during the past two days, left he
today on special train over the Nj
souri, Pacific railway to Sedalia, No., al
from there over the Missouri, kansas 81
Texas railway for a tour Of Old NJ
leo. Before adj5urning the following
hcers were elected: w. Q. Beckiey.
Louis, Wabash. president; Ward Nieho
New Haven, Conn.,, New York. New Il
ven and Hartford. first vice president:
B. Chislet, Pittsburg. Pa. second V
president; ". N. Billings Nashville. L.
tsriIIe and Nashville, third vice preside
+. e. Haley. st. Joseph. Chicago CIR
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