The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1900-03-21
g. L NJ. NEWS.
Capital Stock to Be Increased from
$5O, 900 to 81 100000.

Capital Stock to Be Increased from
$4,000 to 81, 100000.
The latest news from the State
capitol is confrmatory of the state
ments made in The GAZETTE exclu-
sively several weeks ago, regard
ing the Gulf & Manitoba railroad,
and while that road is just now pass
ing through the financial crisis
which all new north and south
roads will haye to pass before they
can be constructed, The GAZETTE
has been assured that the worst
chasm has been passed and there is
no doubt but what the line will be
constructed.
It appears that on Tuesday of
last week the company, organized
in 1899, filed notice with the State
railroad committee that it desires to
increase it's capital stock from
$50, 600 to 81, 900, 900, and its shares
from 500 to 10000. An immediate
hearing was asked for on the prop
osition to increase, but for some
reason the railroad commissioners
decided not to do anything before
March 26th, which date was settled
on as the time for the hearing.
The opposition encountered by a
north and south line, from the men
who control the east and west lines,
and who are practically the kings
OF the financial marts, has been re-
ferred to in these columns before,
and the St. Paul papers, more or
less interested in the east and west
lines, and particularly opposed to
any line that will lessen the COM
munication with that city and Min
neapolis, are treating the G.. & M.
matter very lightly. In reporting
the matter of application for in
crease the St. Paul Dispatch says:
'"The increase is to extend it line of
railroad from Duluth through Mime
sofa and Iowa to Kansas City, Mo-.
700 miles.
Frank T. Campbell signs his name
as president and states that the decis-
ion to increase the capital stock and
shares was made at the meeting Of the
directors held Feb. 10, 1sOO
IF. L. Campbell was the first organ
izer Of the Gulf 4 Manitoba railroad.
Under his direction the Gulf & Mani
toba completed five miles of track from
its connection with the Minneapolis &
St. Louis near Redwood Falls to Beav-
| er Falls. It has motor had not re-
cently-any motive power or any roll
ing stock except, as railroad man put
| it, "the wheels in it's subscribers heads
run by hot air."
| "The purpose of the new administra-
tions seems to be to run the Gulf &
Manitoba to Kansas City and connect
with the Kansas City, Pittsburg &
Gulf road, which is now passing
through the hands of receiver -
Despite the little joke of the east
and west railroad man quoted by
the Dispatch it is known that mat
ters are moving along very smooth
ly in G.. & NJ. affairs, and had it not
been necessary to increase the cap
ital stock of the company a favor
able announcement of construction
would probably have been made by
this time. The increase of the capi-
tai stock from $4,000 to $1,000. 900
will cost the company about 81, $50
more to file it's amended articles
with the secretary of state, and as
soon as the railroad commission
grants the permit it is quite GER
tain that the bonds for a large
amount. which have been litho-
graphed by the American Bank
Note Co., will be placed on the
market, and the company's Chicago
and New York promoters, closely
allied with leading trust companies
of those two cities, are certain that
they have adopteda plan which will
bring forth sufficient capital to pro-
ceed with the construction of the
road this spring.
In opposing the east and west
lines north and south railroad
should have the encouragement OF
the people Of the territory through
! which it passes, and the benefits
derived will more than pay for the
encouragement given.
Stallion for Sale.
i NV Percheron stallion, Brilliant, fol