Arizona weekly journal-miner., 1901-11-06
RAILROAD TALK Proposed Sale of the Santa Fe, Prescott and PheniX Railroad General Topic of Discus
 sion in the West. A Phenix Correspondent Tells of Al- legged Alliance of Prescott Owners of the Read With the
 Rock Island.

The western newspapers are jus
 now devoting considerable space tC
 the pending sale of the Sante Fe
 Prescott and Phenix railroad to tht
 Santa Fe company.
 In the call for the annual meeting of the Sante Fe road, to be held al Topeka, E. P. Ripley, president, 1T speaking of the purchase of that road says:
 "The Santa Fe, Prescott & Pheni1 railroad system extends from Ash Fork, in Arizona, to Prescott and Phenix, Arizona, with various branches, the aggregate length Gin cluding about twenty-four and one half miles of spurs and sidings) being 24SI miles. The company has out standing S4,940,OOO of , per cent first mortgage bonds, S2,964,0O0 of per cent second mortgage bonds and S7 ,904, 900 of capital stock. Your di- rectors have succeeded in purchasing S2,963,0 900 of the 5 per cent second mortgage bonds and practically all the shares of the capital stock of the company at cost amounting in the aggregate to S2,S33,1OS.
 'The gross earnings and net earn ings of the Santa Fe, Prescott & Phe- nix Railway company have steadily increased since the construction of the line in 1895, and during the three years ending June 90, 1901, the sur plus net earnings over and above all charges Gncluding the 5 per cent sec ond mortgage bonds) averaged S93, . 14S per annum. The line has proved a valuable feeder to the Atchison sys- tenn, contributing a large amount of the profitable traffic, and its acquisi was desirable for that reason, ire spective of the direct profits. which, in the opinion of the directors, the in vestment will yield to the Atchison company.
 A special telegram from Phenix to the Los Angeles Express has the fol lowing to say of this deal as well as concerning other railroads in Arizona built and projected.
 Two of the most important rail road deals that have recently occur red in the southwest have been made public here in the announcements that the Santa Fe, Prescott and Phe- nix road formally had been transfer red to the Atchison, Topeka and Santa Fe company, and that the former owners of the Santa Fe, Pres colt and Phenix line would build the connecting link between the Rock Island road and the Pacific coast.
 The Atchison company obtained nearly all of the capital shares of the Santa Fe, Prescott and Phenix and S2, ,963, 900 of the five per cent mort gage bonds. The latter road was built in 1S95-96 and extends from Ash Fork, on the main line of the Santa Fe, to Phenix, a distance of over two hundred miles, besides sev- eral branches. It has always been one of the most valuable feeders of ;he Santa Fe, and has the reputation of being the second most profitable road in the United States.
 It is understood that the sale was not made direct to the Atchison com pany, but that a transfer was first made to a syndicate of New York capitalists, F. M. Murphy engineer ing the deal and retaining his stock in the road.
 Several months ago Mir. Murphy obtained right of way from Phenix to Benson, through the Salt, Gila and San Pedro valleys. They intend to complete the line within eighteen months. They are now planning to build westward from Phenix to Yuma, a distance of about POO miles. At Yuma they will meet the road now being planned by Phelps, Dodge & company's line from Benson to Fl Paso via Bisbee. At Fl Paso is met the southern extremity of the Rock Island route and thereby is solved the puzzle of getting a transconti- mental line to San Diego and giving the Rock Island the opening it has for years wanted.