The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-08-02

The Incorporation of the Central Pa
ciiic Railway company in this city was
a chief topic of discussion among all
classes of citizens yesterday. The ac-
cepted fact that c. p. Huntington was
back of the organization of this local
company, and that it was but another
move in his gigantic scheme of railroad
consolidation. only added to the deep
( and general interest. There were many
well established facts to bear out the
assumption of connection between.
the two systems.
Frederick p. Voorhees,. who is known
To hold the great bulk of the stock in
the Just organized Central Pacific Rail-
/ way company, is known also to be a
member of the reorganization commit
tee for the old Central Pacific Railroad
I company. and holds in trust most of
the stock of that corporation. 1t will be
a very easy matter for Mr.. Voorhees,,
holding. as he does, both the old stock
and the new. to exchange the one for
the other. so that the stockholders in
the old Central Pacific become in fact
the stockholders in the new company
organized in this city on Monday. Fol-
lowing this a step farther. it can be
easily seen how this new Central Pa
clfc stock can be exchanged for the
new stock issued last week by the
( Southern Pacific Railroad company.
and how easily the one railroad system
can be thus absorbed by the other 1t
is quite well understood also that the
Speyer Banking Syndicate of New York
CITY. that furnished the money for the
reorganization of the Central Pacific
Railroad company. represented by four
OF the seven directors in the new COM
pany, can protect its interests with a
first lien on the new company, and ex-
erciSea abSOlntes NOnfrOl ic fnr-tb
understood that in the plan of -reOr-
SanizatiOn it was agreed that both the
Southern and Central should each have
its separate set Of officers and board OF
directors. and this viii account for the
complete formation of a Central Paci-
tic company in this city on Monday
Southern Pacific Lease.
Until the proper time arrives TO make
another move in the consolidation
scheme. the Central Pacific railway
viii be operated by the Southern Pacific
under a. lease. just as was the case
under the old organization. The Off
GERS elected here on Monday will have
nothing whatever to do with the Oper-
alton of the system of which they are
the heads. Thus is presented the anorn-
ally of a great corporation taking in
1.56S miles of railroad, and yet without
the power to employ or discharge one
section hand. Still the part PLAYED by-
this organization is as important as
any other part in the scheme of con-
solidatiOn.
Salt Lake the Centre.
All this would be of little interest to
the people of Salt Lake if there We're
nothing back of it, but there is much
back of it of vital interest. 1t comes
direct from one high in authority. one
Of the very few cOnversant with the
MANS nj this
Salt Lake City is determined upon now
as a center in the great railroad devel- 4,
Opment mapped out for the immediate
future. The Southern Pacific shops
will be moved from ogden to Salt Lake
and a line Of road viii enter the city
south of the lake. Thus far would this
gentleman go in his direct predictions.
and no farther. nor would he permit the
use of his name in this connection. To
/ a direct question as to whether it was
part of the general plan TO buy the Rio
Grande Western, he would give no di-
rect answer.
Watch developments, he said, and
you win find out
Then he demonstrated what a grand
system it would make-a direct line
from here 10 the coast. a line running
east TO Denver, and southwark 10 the
Gulf of Mexico. there to connect with
a steamship line direct to New York.
and other railroads covering the south
east like network
DO you expect other roads to build
west from Denver" was asked.
Yes. sir. Every road that now has
a terminal in Denver will build west,
and not one of them will miss Salt
Lake. They will rot stop here. either
railroads never stop-they will go on
the coast"
In reply to another question. this
/ gentleman gave it as his opinion that
the Burlington would be the first road
to build into Salt Lake from the east.
President Marshall Busy.
Thomas Marshall. the new president
of the Central Pacific, was seen in his
office Yesterday. but would give out
nothing for publication as to the plans
of his company. His desk was covered
with correspondence. legal papers and
cipher dispatches that could tell deep
" interesting story if permitted to do
so. Mr. Marshall stated that he would
act under instructions from New YORK
and San Francisco, and that all Official
| correspondence would be in clpnef,
While conveying the impression that
important developments might De
| looked for soon. he insisted that he was
I not in a position at this time TO give
/ ont ANYTHING for publication.