Omaha daily bee., 1901-03-05
CENTRAL PACIFIC 4 MEMORY
Ia Tr,cu to Become Mere Divisions o. ih.
Urio, Pacific
mlLYAsD GREER ARRANGE ltsAl DETAIL,
60 from omaha 10 salt Lake and
Prepare the Way for Cuiniua-
tion of the Gigantic
Deal

SALT LAKE CITY. Jtab. March =
Especial Telegram. within the next
thirty days $500 .oov.JVO corpora.
tiou will exist under the laws
Of The state Of Utah. From that
time on the Central Pacific Railroad COM
pEny will become memory. It's tracks will
become mere divisions Of The Union Pacific
system
!, is TO arrange the details Of this vast
transaction which Is carrying to fnslity
the recent requirement o. The Central Pa
citc by the Union Pacific interests. that
Judge w. r Kelly and Lawrence Greer Of
the Union Pacific law department are N
salt Lake. stopping 81 the kDuts'ord
when the Hartman syndicate recently
added The southern PScibc TO the proper
ties IL controlled il hAd not been settled
whether the systems were 10 retain their
Identity and be operated under The com
munity OF Interest basis, OF whether there
vas TO be q general reofgHn Ization. il has
now been decided thai the Central Pacific
ard Union Pacific shall be Joined into one
trunk line system between san Francisco
and Omaha. the former line losing its idep
tiiy completely.
IL NAV also be decided 10 merge the ore
eon short Line and the oregon Railway
and Navigation company completely in the
Union Pacific. The southern lines OF the
Southern Pacihc will be organized into
separate system. An Arrangement Ike this
hes been rumored for some time. II may
now be stated Rs q fact
Legal Phase. of the Question.
Judge Kelly and M. Greer one Of whom
| comes from omaha and the other from New
York. will make an exhaustive study OF the
/ LEGAL phases o. the question. i, the bill
. ,f ~ T..h
/ islature early in the session permitting one
railroad company to acquire another is not
/ found 10 be sufcient, another bin will be
drawn and printed for passage. The stock
bolders will meet in salt Lake City March
/ Is 20 pass or the propus iuon 70 increase the
capital stock from sl9G.l7s,70 700 to 3:96
( 200 and the proposed 800 600 600 bond issue
/ II is possible that 1t will he found advis-
able TO reincorporate.
1t has definitely decided that in the .u-
! ture the Central Pacific and Union Pacific
are 10 be one road" said a man directly
concerned in the transaction this evening
They always should have been, for their
! interests are more closely connected than
/ are those ~ the Central and the Southern
/ Pacific. The Central has been club held
over the head Of the Union Pacific. pre-
venting II from building to the coast. while
at the same time the Southern Pacific was
I diverting business by way Of the southern
route.
Operated from Omaha.
The intention now is 10 make the Cen
| tral Pacific part Of the Union Pacific sys-
TEN. operated from Omaha, but incorporated
under the laws Of Utah. possible result
Of this step will be 20 increase the prospect
/ OF extending from southern Utah 10 south
ern California. This would give a short
line from Los Angeles 10 Chicago by way
OF Salt Lake and Omaha and would bring
a large amount OF business this way
whether Senator Clark builds his road or