The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-06-03
One MORE.
The Maple Leaf" Wants to
Get into Topeka.
Likely to Purchase the Leayen-
worth, Topeka & S. w.
WOULD GIVE Topeka
Direct Connection With Mime
apOlis and Northwest.
The Maple Leaf" Wants to
Handle Kansas Grain.

1t is rumored in Santa F'e circles here
today that the Chicago & Great West
ern railway has opened negotiations
for the purchase of the Leavenworth,
Topeka & Southwestern road, running
from Leavenworth to Topeka.
The Chicago & Great Western road,
or as it is more commonly known THE
Maple Leaf" now runs into Leaven-
worth. Inc purchase of the L. T. & S.
w. railway would give Topeka direct
and Superior, Wis, the latter an i'm
portant grain shipping point on Lake
Superior.
On June 1 the stockholders of the
Chicago & Great Western held a meet
ing in Chicago and decided to increase
the four per cent debenture stock from
100000 to 10000, 900 with the partic
ular purpose of taking in new lines that
could be secured at advantageous
terms. Since that time it is said ne
gOtiationS have been opened in New
York with the American Loan & Trust
company, trustee of the L. t. & S. W.
bonds, looking to the purchase of the
line.
Two years ago the Chicago & Great
Western road opened negotiations for
the purchase of the Leavenworth-To-
peka line, and would have taken it in
at that time had it the funds to make
the purchase. Satisfactory arrange
ments could not be made with the
bondholders of the L. T. & S. w. and
increase in the stock of the road now
makes it possible for the stockholders
of the Maple Leaf to secure the Santa
Fe property.
That the line between Topeka and
Leavenworth could be secured at salts
factory terms goes without saying, as
at present it fails to pay operating ex-
penses. Mr.. c. t. Mcclellan, superin-
tendent of the eastern division of the
Santa Fe, was appointed receiver OF
the road four years ago when the fore
closure proceedings were commenced
in the United States circuit court. Since
it has been in the receivers hands all
the legal procedure looking to Its sale
has been gone through with, and 1t now
needs but an application for an order
by the bondholders for the date of sale
to be set 1t has not been sold simply
because up to this time the bondhold-
ers saw way of improving the prop
erty by reorganiZing it, and had no
offers for purchase.
Half the stock of the L. T. & S. w.
railway is held by the Santa Fe and
half by the Union Pacific. The bond
holders of the two roads each guaran-
teed half the bonds. The property never
paid more than operating expenses, and
during the greater part of the time 1t
has been in receivers hands has failed
to pay even the operating expenses.
The Chicago & Great Western road
has now no line into Kansas, with the
exception of the line into Leavenworth
and no connections. For the past Two
years it has probably handled more
grain than any of Chicago lines. 1t
was when President Sticlney started
out to make his road the greatest grain
line in the country that he attempted
to secure the L. T. & S. w. railway as
a line into the state.
If the Chicago & Great Western buys
the Recommendation line it will
mean much to this city. Steps will un-
doubtedly be taken to secure connec-
tions into the corn and wheat territory
of the state.