Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1899-07-13
BID IN BY THE REORGANIZATION
COMMITTEE.
100000 PAID FOR 1T
Purchase Price Only Small Portion
OF the Money That Has Been Put
Into the Road-But One Bidder
Present--Property Sold Under Fore
closure Proceedings.

/ New York, chairman or the reorgan-
lzation committee for s7,300,00 The
system was first offered in fourteen
separate parcels, then in it's en-
| tirety. Mr.. Copqell was the only bid
der.
His bids separately aggregated 81
| 100000. But when Special Master in
Chancery Frank NJ. Hoyt of Milwaukee
lasked for bids for the property IN It's
entirety, Mr. Coppell offered S7,300,000
| He, with Messrs. J. c. Brown and Will
liam Bull, represents the reorgnniza-
ton committee There We're 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 1894 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,
600; the railways and property former
ly owned by the Penokee Railroad COM
pany, $3.50 600; all spurs and branches
OF the Penokee railroad, 100000; 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 Tenokee Railway
company in the GCsebic and Montreal
River road, $4,000; bonds and stock
of Wisconsin Central Railroad com
pany, 100000; parcel of improvement
notes OF the Wisconsin Central Rail
road company, Sl20000; pareei bonds
and stocks of various railroad COM
panies, $2,000,000; securities. ETC., S10.-
000 securities and stock held by II. Z.
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
he parent Wisconsin Central road ex-
tending from Neenah and Menasha to
Ashland, with a spur to stevens Point
from Portage. Then there is the
branch extending from Neenah to
Rugby Junction, and the extern
sion of this branch from Rugby June
ton 20 Chicago, thus affording 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 Mlnneap-
is also the branch line from Mellen TO
Bessemer and the line connecting Man
itowoc with the main line at Mena-
cha. which was built since the road
went into the hands OF receivers.
The entire system has a total main
line mileage of S5Sl6, with 1863 miles
OF spur track and 53.9 miles of termi
nails. The system lacks ownership of
terminals in Chicago, Milwaukee and
ST. Paul 1t has long been endeayor-
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 S270O0,000
or mortgage bonds, with $l2,5oo.O00
preferred stock and slZ32l o0O com
mon stock.
The property sold, which is operated
by the Wisconsin Central company in
eludes the Wisconsin and Minnesota
line. from Ahbotsford 10 Chippewa
Falls. The Chippewa Falls and West
ern line, the Minnesota, s.. Crolx
and Western line and the Pen
okee branch The equip
ment includes twelve Pullman cars, 2i2
box ears. 1876 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 S22o5,5O0 and $500 600
Of the first and second mortgage bonds
due in 1909. 100000 preferred stock,
-. lO7 SEQ common stock. 81 loo coo Inn
proved debenure : per cent bonds II
1889. sS4. zoe first mortgage bonds and
Sl95.5O0 in stock Of the Packwaukee
ana Montello road. $4,000 first mort
gage bonds and 81 999 500 stock o; vhe
Peuekee road. 100000 bonds and ST.
$40 500 stock OF the Wisconsin and
Minnesota road, S2.42o,0oC first mort
gage bonds and s79S.O00 bonds and
2.015.o00 stock OF the Minnesota, s.
Croix and Wisconsin Railroad COM
pany. saaa 500 stock 81 Paul and ST.
Croix Falls railroad. $3.50 coo joint and
Improvement bonds OF the Wisconsin
Central company and Wisconsin Gem