The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-01-09
AMONG RAILROAD MEN
A New Schedule in Effect on the
Northern Pacific.
TIME REDUCED AN HOUR
Consolidation of the Short Line and the
Union Pacific to Be Accom-
plished Jan. 1O-The Rec
ord for 1898.


| into effect a new running time for it's
overland passenger train between Min
| neapolis and the coast, by which the
time will be reduced one hour. The
west bound train yesterday morning
left Minneapolis at 2;55 o'clock instead
of 2:10 as formerly. The exact time of
the arrival in Butte has not yet been
announced, but its time of departure
for the west is now las a. M, instead
of S:45 a. m. The train from the west
also gets into Butte nearly an hour ear
lier. The new time is 40 p. m, the old
time was lilo p. m.
And speaking of fast time in freight
service" said a Northern Pacific Of
can compete with our service between
st. Paul and Butte or the coast. The
Northern Pacific has always made the
run to Butte in 10 hours less than four
days, and we haven't been saying any
thing about it either
Among the important events to trans
pire in railway circles in the course of
comparatively short while, is the COM
plete and formal consolidation of the
Union Pacific and Oregon Short Line
systems, which, though not officially
announced, will be primarily effected at
the special meeting of the Union Pacific
stockholders in this city on Jan TO- says
the Salt Lake Herald. The special meet
ing is called for the purpose of con
sidering and acting upon a proposed
amendment of the articles of associa-
ton of the company, increasing it's COM
mon capital stock by the amount of
$27,460,100, and of authorizing the issue
and use of such additional stock, and of
n q
half" etc.
In increasing the capital stock, the
Union Pacific takes the final step
toward consolidation, and the issue and
use of this stock will be for the pur-
pose of taking up Oregon Short Line
stock certificates, thereby completing
the combination. This is the ultimate
object of the meeting.
The stock certificates bear date of
March 16, 1897, upon which date the
segregation of the Short Line and
Union Pacific took place. 1t is a we'll
known fact that since this time the
latter road has exercised the advantage
of the controlling interest it maintains
in Short Line stock; and, while the
roads have been, and are now, oper-
ated under separate management. the
Union Pacific has sort of dictated the
policy to be pursued by the other. 1t
is in line with this mandatory policy
that the consolidation is to be effected.
The meeting is to be held in this city,
for the reason that the company is in
corporated under :he laws of Utah,
and the executive officers and legal
representatives of the Union Pacific
will arrive, probably Monday, to at
tend the meeting the following day.
There has been some speculation as
to what effect consolidation will have
on the Ogden gateway a popular sem
tjnpnt hainp q will ha
closed.
During the year 1898, eighteen roads,
representing 2O69 miles of track, went
into the hands of receivers, and forty
seven roads, representing 6,054 miles of
track, were taken from the hands of the
United States court through foreclosure
proceedings.
Up to the last day of the year the
mileage passing under the jurisdiction
OF the United States court was very
small, much less, in fact. than for any
period of twelve months since 1882 On
Dec. 81, however, the Baltimore &
Southwestern. went into the hands of
receivers, and to this one company is
charged 45 per cent. of the total mile
age and 60 per cent. of the aggregate
capitalize ton of the year 1898
The roads which passed into insol-
vency represent a total of 2,069 miles,
having a bonded indebtedness of S76,-
$4,000 and capital stock of S62, 07S 900,
total of bonds and stock of S13S. 701,-
900. With the exception of the Bati-
more & Ohio Southwestern all are local
in character, doing practically no inter-
state business. and none has track to
exceed 167 miles. Twelve of the eigh-
teen roads have less than 100 miles of
track each.
Forty-seven roads We're sold during
the year under foreclosure proceedings
These have an aggregate of 6O54 miles
of track, bonded Indebtedness of $134,-
$4,000, and capital stock of s11S, 1926 600,
total of bonds and stock of S252.91O.-
600. Eight Of these roads represent
2,S45 miles track and $12S, 100000 of cap
ital, that is Al per cent of the mileage
and SO per cent. of the total bonds and
stock.
Following is shown the record of re-
ceiverships and foreclosures for the last
tWentythree years:
4,