The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-04-12
LATEST RAILWAY GOSSIP
The $500" Said to Be Projecting
an Extension Into Montana.
CANADIAN PACIFIC PLANS
Future Policy of the Chicago g. Alton
Important Conference of Officials
at Pocatello-WesternP Pass
enger Association.

A late railroad rumor that is of in
terest to Montana has it that the 500
is latter the Great Northern" and con-
templates extending it's line inf5 this
state. The Minneapolis Times gives
currency to the rumor in the following:
From source usually reliable
comes the information that plans of the
500 Line include an extension not only
to Bismarck but beyond into tilc great
COW country of Montana, eventually
| connecting with the Canad;a,l Pacific
so far west that the Great Northern
will be paralleled much more closely
than by the present Soo-Pacifc route.
| The line will be pushed a long way
| past Bismarck before any hard Ct ex-
| pensive construction work is encoun-
| tered. That is, it could be built through
| a growing and rich country very
| cheaply.
Railroad men are still wondering
what the 500 line intends to do with
that s., 100000 which it is going to rae
on an issue of second mortgages bonds
1t was stated in Montreal at she. re-
| cent meeting of the parent inc the
| Canadian Pacific, that the 500 wou,d
| spend money on general Improvements
| betterments and ter al facilities at
| Minneapolis The latter item Is rather
| indefinite, and this news might mean
| that the 500 intends to secure . site
| and build passenger station or it
| may apply only to the local freight ter
| minals recently acquired At any rate
| but few hundred thousand dollars
could reasonably be spent or the items
mentioned The balance &C The $5,0DO,-
| 900 remains unaccounted for, uni ass in
deed, it has been intimated, tie 500
is preparing for a big extension 70 the
| westward and for new passenger ter
| minals in Minneapolis
| with line completed almost to
Bismarck, level country befo,e il and
| 100000 to spend, the question IS to
| what the 500 is going to do would SCI m
| reasonably sure of an "nsW 9r. But
| the 500 line won't answer it yet AS
| one of the officials mildly suggested. it
would probably be better to Wa and
see if the stockholders wanted to raise
the money first"
A story from New York has It that
| the Canadian Pacific is sprea ding it
self. 1t announced that it would cut
transcontinental time 10 hours. This
| was followed by the announc ament, Of
| big financial arrangement which will
| enable the 500 line to devote Its net
earnings to the payment O. its inter
| est charges. and at the same time to
repay in annual installments the in
| terest which has. been advanced ty the
Canadian Pacific. Its improved earn
| ings justify the belief of the Canadian
Pacific directors that it will not only be
| able to do this, but to make 8 return
| on its capital stock, of which the Ca
madam Pacific holds more han one
half. The total advances 20 the 500
by the Canadian Pacific up 20 date
| amount to $1,521 ,664, while The expandi-
/ ture. for equipment, terminal facilities
and general improvements during tie
years in which these advances were
| made, foot UP 81, TAI ,041 The Cana1ian
Pacific has authorized the following
| expenditures: Improvement OF perma
nent way, $1150,9S9; for additional sta
ton yard and terminal facilities at
Montreal. Vancouver and other lcints.
| $7SS, 1877 for the completion Of air brake
and automatic coupler equipment, S"c5,-
010; for branch lines to mines Ii c. T.
nection with Crows Nest Pass lrc,
s300,0O0; rolling stock. whatever the
| traffic of the company may require. 1t
all goes to show how well the Canadian
Pacific is fortifying itself It's An.eri-
| can competitors will at no poin- get
ahead Of it very much. 1t is as strong in
| Canada as ever, and there IS arpsr-
emily no chance Of a charter peirg
| SIdllteu luI the s'i-l'iis eel -. =. var
| bin project in British Columbia, in
which the Great Nnrlhern is supposed
| to be most interested at this time. The
500 line earnings for the fourth week
of March were s11o,066, an Increase of
s4,991.
| Little regarding the future policy of
| the new owners of the Chicago & AL
! ton developed at :he annual meeting
| of stockholders held in Chicago 4 few
| days ago. +. f. Harriman's aectiC n
| as president caused no surprise, it hav-
| ing been understood for some time that
| he had been slated for the position.
| The only representatives of the Easern
| syndicate which purchased the Alton
| stock who attended the meeting We're
| Mr.. Hartman and Mortimer l.. Schiff.
| Mr.. Hartman held the proxies and
| voted $4,000 out of a possible 223000
shares. This does not indicate, how
ever, that the syndicate holds only a
| majority of the stock. 1t is stated that
| nearly 80 per cent. of the stock has
| been deposited with the United States
| Trust company, under the agreement
between John J. Mitchell, president of
| the Illinois Trust and Savings bank and
| the Eastern syndicate.
New directors We're elected as fol-
lows: e. Fl. Hartman, M I. Schiff,
c. H. Chappell, J. w. Doane, r. C.
| Clowry, A. w. Krich, w. A. Simonson,
| J. C. Hutchins w. H. Henkle. The
| complexion of the board indicates that
| the Union Pacific people have the larg-
n in tho nd