Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1899-07-13

system was first offered IN fourteen
separate parcels, then in its en-
tirety. Mr.. Coppell was the only bid
der. |
His bids separately aggregated ST.
290 900. But when Special Master in |
Chancery Frank NJ. Hoyt Of Milwaukee |
asked for bids for the property N its
entirety, Mr.. Coppell offered S7,3O0,000. |
He, with Messrs. J. c. Brown and Will |
liam Bull, represents the reorganlza-
ton committee. There were no other
bidders.
The various parcels were sold as fol-
lows: Railway formerly owned by
Wisconsin and Minnesota Railroad
company, extending from Abbotsford,
Wis, westward to Chippewa Falls, a
distance Of about 1854 miles, $4,000;
railways formerly owned by the Chip
pewa Falls and Western Railway COM
pany, $4,000; the railways and proper
ty formerly owned by the Minnesota,
St. Croix and Wisconsin Railroad COM
pany, $150,000; lands in Chippewa
county, $4,000; lands in st. Paul, $780,
coo; the railways and property former
ly owned by the Penokee Railroad COM
pany, $25O,000; all spurs and branches
of the Penokee railroad, S200,000 all
franchises, lands, depot grounds, term
inal rights, trackage and other con-
tracts, leases, privileges and all other
property real and personal used in con-
nection with or appurtenances to said
above described railways, or any Of
them; also right of way, ore yards and
ore docks at Ashland, Wis, 100000;
the interest of the PenOhee Railway
company in the Gogebic and Montreal
River road, $4,000; bonds and stock
of Wisconsin Central Railroad COM
pany, $4,000 900; parcel Of improvement
notes of the Wisconsin Central Rail
road company, $4,000; parcel bonds
and stocks of various railroad COM
panies, $2,00O,O00: securities, ETC., $10,-
900; securities and stock held by H. T.
Whitcomb and Howard Morris, receiv-
ers of the Central company, $4,000.
A checkered career indeed has been
that of the Wisconsin Central compa
MES. The various companies that
have been formed from time to time
have been dominated by the two par
ent corporations, the Wisconsin Cen
trail Railroad company and the Wis
consin Central company. The system
is the result of the building from time
to time Of branch lines 10 unite with
the parent Wisconsin Central road ex-
tending from Neenah and Menasha to
Oh 10 Do:r,
from Portage. Then there is the
branch extending from Neenah to
Rugby Junction, and the extern
sion Of this branch from Rugby June
ton TO Chicago, thus affording a south
ern outlet at the western metropolis,
with connections for Milwaukee made
over the Milwaukee roads tracks from
Rugby Junction. Then to the west
came the extension of the line from
Abbotsford to St. Paul and Minneap-
Oils with a spur to Eau Claire. There
is also the branch line from Mellen to
Bessemer and the line connecting Man
itOwoc with the main line at Mena-
sha, which was built since the road
went into the hands Of receivers.
The entire system has a total main
line mileage of S5S.16, with 1853 miles
Of spur track and $50 miles of termi-
mails. The system lacks ownership Of
terminals in Chicago, Milwaukee and
St. Paul. 1t has long been endeavor-
ing to effect entrance to Milwaukee on
its own right of way, but thus far has
never been successful, and is thus COM
PEELED to accept traffic dictations from
the Milwaukee and Northwestern
roads.
The new company issues s27,000,000
or mortgage bonds, with S12,500,000
mon stock.
The property sold, which is operated
by the Wisconsin Central company, in
cludes the Wisconsin and Minnesota
line, from Abbotsford to Chippewa
Falls; the Chippewa Falls and West
ern line, the Minnesota, st. Croix
and Western line and the Pen
okee branch The equip
ment includes twelve Pullman cars, 242
box cars, 166 furniture cars, 235 ore
cars, and the interest Of the Wisconsin
Central company in the leases of the !
Central Car company. The stock and
bonds include S2,205, 500 and S5,302, 900 |
of the first and second mortgage bonds |
due in 1909, 100000 preferred stock, |
S9,407, 800 common stock, S1,100,000 i'm
proved debenture per cent. bonds cf |
1889, $4,000 first mortgage bonds and !
S135,500 in stock of the Packwaukee
and Montello road, s147,O00 first mort
gage bonds and s1,999, 500 stock Of the
Penokee road, $4,000 bonds and ST.
349, 800 stock of the Wisconsin and
road, S2,420,000 first mort
gage bonds and s72S,00O bonds and
50 ,075,0O0 stock Of the Minnesota, ST.
CroiX and Wisconsin Railroad COM
pany, 1893, 800 stock ST. Paul and st.
Croix Falls railroad, s230,O0O joint and
bonds of the Wisconsin
Central company and Wisconsin Cen
trail Railroad company.
Messrs. Colby and Abbot have been
the most prominent financiers in con-
lection with the management and own
ership Of the Wisconsin Central lines
Mr. Abbot, it is now claimed, will no
onger dominate the management, but
will be a minor figure in the big cor
poration. 1t was Mr.. Abbot who i
credited with having kept the opposing
1nancfers guessing for nearly a year
lfter it had been tacitly agreed TO quit
lighting in the courts and come to an
lmicable settlement OF the many diff
erences that had arisen during the