New-York tribune., 1901-10-12
STRENGTHENING OUT sIOUI CITY.
LIQUIDATION OF THE CREDITS CoMMUTA-
TIoN COMPANY AND ALLIED CON-
Germs NEXT MONDAY

Sioux City. Iowa, Oct. II (SpeciaD.-The lquida-
ton OF the great companies organized to handle
the assets of the concerns which went to the wall
here in the s200000o0 crash of 1s93-9t is now at
hand. The Credits Communication Company, capi-
talzed at 500 with 81 499 800 In it's contingent
fund and s3O27 of assessment certificates recently
outstanding. will hold its annual meeting October
IA. at which the assets are be divided and sold
or otherwise become the properties of a new con-
trolling faction. From thirty-six States of the
Union will come stockholders and proxies for this
meeting. Their stock represents the claims against
the Union Loan and Trust Company and allied
concerns which closed their doors after un-
precedented boom in Sioux City which enlisted the
interest of business men the country over. 1t was
the woful boast that Sioux City's failure was
greater than that of any other city built but
now the city has recovered Its poIse, and is again
lunging forward.
There two factions struggling for the control
of the annual meeting next Monday which is likely
10 be attended by every stockholder able TO reach
the city such is the interest in the situation The
indications that John c. Coombs. of Boston.
the first general counsel for the company, has
bought and secured sufficient stock and proxies to
prove the master of the situation and in that event
the railway history of this city is likely to be
changed.
The fight of James ]. Hill for mastery in the
Northern Pacifc-which has Insignificant par
ael in the Sioux City contest-was u fight CEN
tired about Sioux City. Here is the gateway of
the Great Northern line to the Burlington. which
will be leased by the victorious Hill crowd. With
the Burlington in his power. it is known that an
extension of the former Sioux City Short Line to
O'Neill. Neb.. TO the Burlington near Alliance or
Seneca, Neb., will be made, that connection may
be made for the San Pedro line, which SEN
ator Clark. of Montana, is building The
Credits Communication Company owns the stock of
the Combination Bridge Company, owner of the
big structure spanning the Missouri River, which
known fhat ttil rnay, bo axraSctad 70 h,,,, tbo
bridge, and also that Mr. Coombs favors using the
this city for its upbuildng 1t is also known that
definite proposition has been received by John c.
garding the % bridge. and that It is probably from
ern- Burlington lease will therefore have direct
bearing upon the future OF the Credits Commuta-
The second faction seeking to secure the control
is that of the Bank of Montreal through its Chi
cago branch the Hanover National Bank Of New
York City. and Colonel ]. G. Elston. of Crawfords-
Vile. Ind who is president of the Sioux City Stock
Yards Company, owned until recently by the Cred
its company The effort of this faction IS TO force
members of the faction would be the buyers. and
price has been offered to the holders large blocks
OF stock to secure their supPort for the sale The
secured for the stock Of the company. Recently
Coombs had transferred in one lot about thirteen
The assets consist of the Sioux City Stock Yards
preferred stock amounting TO COO of $l,500 900
preferred; the Commutation Land Company. Sill
81 co., the Gaeway Improvement COMPANY mp, n.y. and
nual meeting resolution to liquidate was car
ried and committees were appointed. Inc com
pany which was to look after the stock yards com
pany has been successful TO such a degree that
the yards have been sold TO Swift & Co. of Chi
cago who will soon build big packing plant
here. The land has been sold at profit and the
bridge is regarded one of the best assets.
Each OF the auxiliary companies and the COM
mttees for the LIQUIDATION OF each will make re-
ports and then will come the fight for the suprem-
acy. In any event, the great monumental com
pany. token Of Sioux Citys dismal days. will be
wound up and, II case the bridge is sold to James
J. Hill the likelihood is that Sioux City will soon
be on the route of transcontinental travel
Officers of the Hanover Bank. In this city. TO
whom this dispatch shown last night. were
not willing TO say anything for publication the
subject