Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1900-06-07
MISSOURI VALLEY IOWA, THURSDAY 1900

JUNE z, 1900
Sioux City & Pacific Settle
mont Bill Passes the
Senate Saturday With.
out Amendments.
Bill Now Awaits the Signature oi
the President When It Will
Become Law.
Transfer Means Considerable For
Missouri Valley.
The last call: going-gone of
the ubiquitous suctioneer will
soon be heard and the Sioux City
d Pacific railroad, the greatest
achievement OF the late John l
Blair. railroad protector and
and builder, will have its fnis
written and the road will hence
forth become link in some great
railroad system, probably the
Chicago & North VI estern.
In the Senate late Saturday at
ternoon Senator Allison, of Iowa,
called up the bill authorizing the
disposal of the Sioux City & Pa
citic railroad and furthermore en-
powering the Secretaries Of In
terror, of the Treasury, and the
Attorney General to dispose of
the property, make a general set
Element AMI adjustment with the
Sioux City & Pacific in manner
that will entirely compensate the
United States government for the
lein it has on the property.
Numerous amendments we're
offered but by a most decisive vote
all we're lost and the bill as passed.
was exactly as passed by the
House.
TEXT OF THE BILL.
An act to create a commission
to make settlement and adjust.
ment with the Sioux City & Pa
cifc Railroad company Of it's in
debtedness to the government of
the United States
Be it enacted by the senate and
house of representatives of the
United States of America, in con-
gress assembled, That the secre-
tary OF the treasury, of the interior
and the attorney general of the
United States are hereby author
lied and empowered to make set
Element and adjustment of the
Sioux City and Pacific Railroad
company's indebtedness to the
governments of the United States;
and to that end may receive and
determine upon any proposition
or propositions from said Sioux
City & Pacific r. r. Company OF
from any other person or per IONS,
corporation or corporations, and
may sell or assign the mortgage
given by said company to the Uni
ted States and do any and all
things proper and necessary to eff
feet settlement and adjustment
and secure to the United States
the largest sum possible in the
payment of said indebtedness uI
to the full amount thereof: Pro-
vided, That they deem the same
for the best interests of the govern
ment; and when such settlement
is approved by the president
it shall become operative and the
attorney general shall make the
necessary acquittances to said rail
road company.
The bill as passed by tho Senate
and House is now in the hands of
an engrossipg clerk and will lie
presented to President Mckinley
for his signature some time this
week. When the chief executive
afixes his signature to the docu-
ment, the entire property of the
Sioux City & Pacific railroad COM
pany will then be on the market.
This morning an official of the
Fremont, Elkhorn & Missouri
Valley system stated the date
when the road would be sold was
as yet problemetical inasmuch "a
the preliminaries connected with
the disposal Of q railroad system
we're ofsuch nature that several
weeks are required in their form
ulation. It is highly probable
the road will not be sold until late
next Fall. Just what the Chicago
& North Western railroad com
pany will do, provided they are
the successful bidders for the
property, in regards to their inter.
ests in MoValley is as yet decided
ly hard to ascertain but there is lit.
tie doubt but this city will be an
important point when the re-or-
ganization takes place. For sew
eral weeks past the Chicago &
North Western company has been
unloading material at the supply
yards west of this city. Stored al
the supply yards there is now
100000 ties. a quantity Of RAILROAD
iron, etc, and the Indications are
the company has in contemplate,
some new move on the railroad
checker hoard whenawor the f,1.