Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-06-15
10 TAKE ERECT July |
Albert Lea Will Be Made Nor.
thern Terminal Of Central
On That Day.
Thru Train Service to Northern
Points Will Not Commence
Until October.
Delay Caused by Improvements
on Central and M. & St. L.
Roadway.

AS the result of the conference of the
past few days between Vice President
and General Manager L.. II. Day, of the
Central and Minneapolis roads, and
traffic officials Of the Iowa Central, heidi
at Minneapolis. it is officially stated that
the anticipated change in the schedule
of the Iowa Central, in making Albert
Lea, Mimi, its north terminal point in
stead of Mason City, Will go into effect
on July /.
Minneapolis and ST. Paul on the north
and Peoria, st. Louis and Kansas City
on the east and south. will not be in
augurated until fall because of the fac:
that at present both NJ. & ST. l.. and
Iowa Central properties are undergoing
Provision in grades and other improve
vice can not be satisfactorily arranged
because of the fact that the roads can
not make the necessary time required TO
compete with other companies
The acquisition of the northern ter
ritoray will give the Iowa Central thir-
ty-six more miles to operate and seven
IL
way. The stations are Freeman, Manley
junction. keusett and Northwood in
Iowa and Gordonsville, Glennville and
Albert Lea in Minnesota. The service
as it goes into effect on July 1st will
affect two trains only. Nos and 9. now
running between Mason City and Abba.
The southern connection will continue
TO be the same as at present, with the
Wabash, via Abba
The connection with the NJ. & st. L..
Via Albert Lea, for Minneapolis and ST.
Paul. does not affect in any way the
present Milwaukee connection, as the
same connections now made with TN, q,
NJ. & St. p. will be retained at Mason
ICity Junction.
superintendent Huntington has al
ready begun work on the schedule and
'.ils new card VIII be out few days
liprior to the first of the month
SIGNIFICANCE, IN BOND ISSUE.
The Minneapolis Journal in comment
ing on the recent announcement that the
I stockholders of the Central will soon
vote on a proposition to effect new
4 bond issue. says:
Great significance attaches to the
latest developments in the financial
/ fnanagement of the Iowa Central prop
erty, of which L. r. Day. vice president
and general manager of the minneapolis
eS ST. Louis, Is so far as management
4 and operation are concerned the con-
/ trolling factor The Central. which was
rather poor excuse for railroad wher
Mr.. Day took hold of it. has been sub
! jected to n severe orerhauiing in all de-
4 partments In the last few months and
\ the improvement in ITS physical condi-
! ton has given the road some standing
| among western lines Its close relation
/ shipsto the Minneapolis Il ST. Louis, and
i the important traffic alliance which this
latter must effect with the Illinois Cen
\ trail, has brought the Iowa road into
i prominence.
while Mr.. Day Is reticent as to this
oompany's plans, il is positively known
j that the following is the settled scheme
4 for readjusting the Finances of the road:
I THE shareholders will vote on July 81
en- a proposition TO make new mort.
4 gage to the Morton Trust Company az
i trustee to secure s25 0o0,00D of 4 per cent
:. tlfty-year gold bonds, to be issued fol
! ,efunding $I650.0oD first mortgage bonds
and for future improvements and add
: tons. OF the ne wbonds 100000 are t,
be issued at once to retire the Nelths-
J burg bridge bonds (s59l,o0oJ. and tn
:. Iowa Central & Western bonds (s550 600
!. and the rest equipment.
Prom this ii will be seen that tl
!. financial Interests of the road mean
business when they turned the propert,
ever to Mr.. Day and told him to make
!. railroad out of it,