Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1905-10-21
ALBUQUERQUE
Line NOT INVOLVED
BY BANK FAILURE
Man Who Built Central
Talks of Its Affairs.
GROSS EXAGGERATlONS HAVE
COME OUT OF PITTSBURG
Railroad and lis Allied interests
Amply Able TO Care for All It's
Obligations Here and
ia the Fast.

The people of Albuquerque and of
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-
ton will be received with more conf
dcncc than that of ". 5. Hopewell,
under whose mlring industry and
executive ability the new railroad is
rapidly undertaking. The Morn
ing journal therefore is doubly glad 10
be able To give Mr.. Hopewclis posi-
| tive statement that the unfortunate
Pittsburg affair will have no erect ON
| the building of the new railroad which
Is expected To prove Il valuable asset
to Albuquerque.
MIR. HopeWCll arrived in the city
last night from Denver. and while full
of business as usual, had time to give
| the Morning journal full and explicit
denial of the story from Pittsbure
that the Santa Fe Central and its al
lied enterprises are heavily involved
as result of the bank failure, and of
| the story that work on the extension
to this city will come to a stop.
| Il was in Pittsburg said Mr.. Hope
| well, "in the last week in August, and
/ saw Mr. Clark at that time. At thar
Itime | can say positively that the
| Pennsylvania Development company
| had borrowed no money of the Enter
Prise National bank. II it has bor-
rowed any since | have no knowledge
| pf it. Mr., Clark was heavily interest
ed in the Santa Fe Central railway
| md furnished a great deal of tho
money which financed the road and
| ,lied enterprises.
Il am satisfied that Mr. Clark had
| ,nough money and securities and
more than enough to pay any and all
| iebts which he might have contract
| ed either through Investments in New
| Mexico or i'm the east Mr. Clark was
IN exceedingly conscientious. upright
| ma straightforward man who would
| rot intentionally defraud any man out
| # 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,
| lad no sane reason for committing
suicide / cannot under any circum-
| stances believe for a moment that he
was a defaulter or that he used one
ent of money which did not belong to
him.
Torrance Worth Two Millions.
when | was i'm Pittsburg at the
| ime mentioned. | had occasion to re-
Give personal statements from Fran
| els j. Torrance, r. Lee Clarke and Ar
thur Kennedy. of their financial stand
ng. At that time by an extremely
Conservative estimate, Messrs. Clarke,
Kennedy and Torrance We're worth al
together. over and above all liabilities
and debts. and exclusive of life insur-
| lnce policies and exclusive of their in
yestments in New Mexico. $4,000 600,
AT the time / was In Pittsburg last
August the Santa I'c Central railway
| company owed. | am positive, nothing
nt all besides its own bonded indebt-
cdness. III the company has any 9th
~ Indebtedness at present | know
nothing of IL. do not believe that II
has
SMALL OBLIGATIONS IN NEW
MEXICO.
"rhe Pennsylvania Development
.Ompany. the Santa Fe Central Rail
r way company. and the New Mexico
Fuel & Iron company owe practically
no money in New Mexico. not To cN-
ceed $4,000. What little they do owe
is more than protected by ample Sc
nurities. and the companies have
property enough in the territory tt
pay all their New Mexico debts thirty
times over.
'"fhe Santa Re Central railway Is a
\ present earning more than Its eX'
J penses for operating and maintenance
II has just reached the stage where i
can pay its fixed charges. The fac
; that the Central can make this show
ing without the completion OF th'
branches To Albuquerque and th'
Hagan coal fields demonstrates pretty
2 clearly that the road IL valuable
7 property. When the extension To thi
= city and the branch to the rich Hagai
, coal mines are completed, there 4
D not the slightest doubt that the rail
way will easily more than pay IL
fixed charges.
THE closing of HE Enterprise Nn
: riOnaI bank of Allegheny will have,
! think, no eject on the completion o
/ the Albuquerque Eastern. The road !
Z to be pushed through just rs soon "a
! lpOssiblc. am going cast In fcv
: ldays and with McssrS. Torrance. Ken
. Inedy ana Andrews, VIII luke UP uN
; negotiations with New York capital
= lists exactly where they were at th
II time Of the suicide of Mr.. Clark AM
= the closing of the bank. ! believe th
a whole Drujcct Il to he carried through
. Just ~ originally outlined"
!, you may tell the people of Albu
= Iquerque most emphatlcally that 1t
the intention To complete the Albu
duerque Eastern into this city and I
the Hagan coal fields with all possibl
r dispatch and that to the best OF m
d knowledge the present difficulties 0
the Enterprise bank win have no ef