Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1905-10-21
HOPEWElL MAKES
STRONG STATEMENT
Positive Denial That Santa fs
Central Is Heavily Involved
In Bank failure
DEED Csshiss Heavily laassssasd h ths
Railway Ssessites ~ eelaShse .
Good Deal ol Money 70 oalld
Ths Rosd
albuquerque 'Journal).

a .sss n i ~
albuquerque Journal).
The people OF Albuquerque and oi
all central New Mexico have been
more or less concerned at the stories
from Pittsburg to the effect that the
closing Of the Enterprise National
bank would seriously compromise the
completion Of the albuquerque East.
ern railway. In which the people Of
this section are so vitality interested.
No mans statement as to the situa-
tion will be received with more conf.
dence than that Of W. 8. Hopewell.
under whose untiring industry and
executive ability the new railroad Is
rapidly materlalizing. The Morning
Journal therefore is doubly glad to
be able to give Mr.. Hopewell's posi-
tive statement that the unfortunate
Pittsburg affair will have no effect on
the building OF the new railroad which
is expected to prove valuable asset
to Albuquerque.
Mr.. Hopewell arrived In the city
last night from Denver. and while full
of business as usual, had time to give
the Morpipg e!!g Il Journal Il full and explicit
denial Of the story from Pittsburg
that the Santa Fe Central and its al
lied enterprises are heavily involved
as q result of the bank failure, and of
the story thar work on the extension
to this city will come to . stop.
Il was in Pittsburg," said Mr.. Hope
well, in the las. week in August, and
saw Mr.. Clark at that time. At that
time l can say positively that the
Pennsylvaia Development company
had borrowed no money of the Enter
prise National bank. II it has Dor.
rowed any since have no knowledge
Of 1t. Mr.. Clark was heavily interest
ed in the Santa Ee Central railway
and furnished a great deal Of the
money which financed the road and
allied enterprises. 49,.
Il am satisfied that Mr.. Clark had
enough money and securities and
more than enough to pay any and all
debts which ne might have contract.
ed either through investments in New
Mexico or In the east. Mr.. Clark was
an exceedingly conscientious, uprignl
and straightforward man who would
not intentionally defraud any man out
Of a cent. He was Of an exceedingly
nervous temperament. and that, In my
opinion, together with the worry Of his
financial affairs, caused him to take
his life. regret the whole matter
very deeply. Mr.. Clark, am positive,
had no sane reason for committing
suicide. I cannot under any circum.
stances believe for moment that he
was a defaulter or that he used one
cent Of money which did not belong to
him.
Torrance Worth Two MilIions.
when l was in Pittsburg at the
time mentioned, l had occasion to re-
ceive personal statements from Fran.
els J. Torrance, T. Lee CLARKE and Ar
thur Kennedy, OF their financial stand.
ing. At that time by an extremely
conservative estimate, Messrs. Clarke
Kennedy and Torrance were worth al
together, over and above all liabilities
and debts, and exclusive Of life insur-
ance policies and exclusive Of their
investments in New Mexico, $780,.
900.
"At the time was In Pittsburg last
August the Santa Fe Central railway
company owed, am positive, nothing
II all besides its own bonded indebt-
edness. If the company has any 9TH
er Indebtedness at present, know
nothing Of 1t. do not believe that 1t
has,
Small Obligations in New Mexico.
"The Pennsylvania Development
company the Santa Fe Central rail-
way company, and the New Mexico
Fuel & Iron company owe practically
no money in New Mexico, not to ex-
ceed $4,000. What little they do owe
is more than protected by ample Sc
curities, and the companies have
property enough in the territory to
pay all their New Mexico debts thirty
times over.
"The Santa Fe Central railway is at
present earning more than its ex-
penses 70 roperating and maintenance.
It has just reached the stage where II
can pay its fixed charges. The fact
that the Central can make this show
ing without the completion Of the
branches to Albuquerque and the
Hagan coal fields demonstrates pretty
clearly that the road Is valuable
property. when the extension to this