The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1901-05-06
New York Special Advices
Say It Will Be.
DEAL HAS BEEN FIXED
The Hartman Interests, 1t Is Said,
Will Gain Control.
A PLAN TO MAINTAIN RATES
Transfer Not to BE Made Until the
Purchasers Are Ready
for 1t.

Is the Chicago Great Western to b
sold? Reliable advices say that pre-
liminaries have all been arranged and {
| deal for the transfer Of the road is read.
to be closed whenever the parties inter
ested want to have the transfer made.
The Hartman interests are said to b'
in line to gain control.
The object is to control a sufficient num-
Der of roads to enable the community o
interest" to maintain rates without an!
fear Of secret cutting.
As New York Reports 1t.
The whole story as it comes from New
York in Journal special is as fol-
lows:
President Stickney of the Chicago Great
Western is reported to have said that it will
take ali this year TO finish grading for the
Sioux City & Omaha extension of his road
and that. therefore, no attempt at track
laying Will be made for twelve months.
Before that time, however, the road will
probably have passed into other hands, for
all the preliminariesSfncide TO the sale
have already been completed and a contract
made as to the price at which the property
W
the Railroad Securities ompany, which are
determined that the road shall be taken out
Of the field as a competitor of the other lines
that have been brought into the community
of interest"
Date of Closure in Doubt.
When the deal will be carried into effect
cannot be accurately said at this time, but
that it has been fully agreed upon is an abso-
lutte fact, the transfer only awaiting the
pleasure Of the men who are to take pos
session.
No one will be surprised if a disposition
is shown, in certain quarters, to contradict
these statements but all talk to the con-
trary will be for nothing more than stock
iobbing purposes, which will be readily un-
derstood if quotations are closely watched.
Agreement Made in London.
The agreement to sell was made in London
and the price at which the trade is to be
made is &C. according to the information re-
ceiYed This is quite an advance over what
the quotations are now or have been.
Just what disposition the new owners have
determined TO make of the property after the
transfer has not devgeloped, but presumably
It will be handed over to one Of the Hartman
syndicate roads. With this accomplished
and the Wisconsin Central out of the way
also, a condition giving promise of an effee-
tive maintenance of rates will have been
reached. There is a strong probability that
the repeated postponement of the presidents
conference, which should have been held in
March. are due to what is being done to COM
plete the trar sactions and the fact that the
date now named is June is decidedly indica-
tive Of the progress made, especially If there
are no further postponements. In the latter
case announo ements of the closing of the
eeals may be anticipated in advance of the
cate named and these will show that every
thing is in readiness to put into execution
whatever new plans have been, or may ne
promulgated. not only to end rate cutting,
hut to insure a maintenance OF puollshed
tariffs without any secret evasions of the
same.