Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1900-09-12
ASK SALT LAKE
FOR FRANCHISE
PROMOTERS OF LOS ANGELES
ROAD WANT DEPOT AND
TERMINALS IN ZION.
WILL INCORPORATE FOR
TWENTY MILLION DOLLARS.
All the Capital Is Ready-Shortest
Route Will Be About 72O
Miles.

Hope that stood exalted in the breasts
OF the people of Utah at least three
months every year for the past decade
the hope that somebody would turn up
who would build a railroad running from
Salt Lake to some point on tn coast of
Southern CalifOrnia-seems at least to
have expanded into a concrete PROPOSE
ton. The wizards have appeared. I'm
limited money Is at their command. The
road will be built unless the unexpected
happens. All the capitalists need, all that
they ask for, is title to an acre of ground
In Sale Lake City known as Old Fort
Square, which belongs to the municipality
"a piece of ground designed for a park,
but will never be used for that purpose.
and been long Overrun with sage brush.
The granting of this square to the COM
pany for depot purposes, together with
right of way over some streets leading
to he square. means the beginning of
work on the Utah Terminal at Salt Lake
Work is already being done at the Cali
fornia end.
The chief pusher Of the enterprise In
Utah is Thomas Kearns, one of the mil
ionaires of the state, but who worked for
wages in the Park City mines less than
ten years ago. The power at the Los An
geles end is Richard Kerens, a kinsman
of the Utah magnate. Kerens lives in st.
Louis but his voice is potent on the Pa
cific coast. He has rubbed up against
the Southern Pacific more than once, no.
tably in the a Pedro harbor fight. Ever
since that fight Mr.. Kerens has been
working up the project which seems no
Salt Lake railway.
The third active figure is T. E.. Gibbons
of Los Angeles, vice-president and attor-
ney. Mr.. Gibbons. through j. Ross Clark,
brother of w. A. Clark, secured the COOP
GRAFTON of the senator. The latter as
sures his co-workers that the road will be
pushed through, and that is almost like
saying that the road is already built. Sen
ator Clark has secured financial interest
in the Los Angeles terminal equal to the
holdings of all the others. Hence the big
five who will control the destines of the
rad are Kearns, Kerens, the two Clarks
and Gibbon.
nitely settled. The new company is to be
Incorporated for 500, 900, 900, which will
cover the cost of construction of the road
which, by the shortest route. would be
about 72O miles, and the terminals, equip
ment and all appurtenances. The mon
ey is all ready and there will be no eff
fort to secure capital beyond that already
controlled by those who have undertake
en- to build the line. Los Angeles people
will be given an opportunity to subscribe
for 81, 200, 900 of the securities and the
limited amount of $500, 900 will be offered
In Salt Lake, but the latter has nothing
conditional about it and does not refer in
any way as an inducement for the COM
pany to build. The bonds will bear the
low rate of interest of A per cent and this
will not burden the property in any way.
It is a business proposition on the part
of the builders and the road will be oper-
ated IN a general plan Of economy as
we'll as excellence.
The company will agree to have the
road COMPLETED | n three wears NUT it is
the expectation and hope that it will be
completed within two years. Mr.. Kearns
informed a Salt Lake ribune reporter
the other day that the first thing to be
accomplished was the Incorporation, then
the securing of Salt Lake franchises and
the square. With these matters accom-
plished the company will be prepared for
work and the promise is made that work
will commence Immediately upon the con
summation of these details.