The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-23
LIKE
WESTERN PACIFIC,
RETICENCE REGARDING LINE TS
COAST RECALLS FORMER CASE
Gould Absolutely Denied He Had Any
thing to Do with Western Pacidcs
Which Was Technically True, as Ie
Milwaukee Officials Denial Of PrsEt
arations for Extension to Coast 4 q
Special to The Journal.

Special to The Journal.
New York, Oct 23-The plans o.
the Chicago, Milwaukee g. ST. PaL
railway to build from the MissouTs
river to. the Pacific. coast are, not yee
in complete form. They have not ye,
rectors, in fact, it is even stated thav
the full executive committee Of tn =
railway has not yet even considered tn
plan in detail.
The position appears to be analogoul
to the position Of the Denver & Ri
Grande eighteen months ago, in thu
spring of 1904, with respect to thu
Western Pacific. At that time tho
Gould roads had not even taken officiS.
ern Pacific was an organized company
No plans whatever had come before thu
board OF directors of the Denver & Rim
Grande. Mr.. Gould and Mr.. Jeffrey
with their financial associates, had de-
with their financial associates, was to bs
bniis and sold TO the Denver road
But the Denver read did not, officially
know anything about il. e
Plan Just as Definite.
The plan, however, is just about a,
definite as. was the Western Pacif5I
plan at that time. It will be remena
| bcred that Mr.. Gould absolutely dc
MED that he had anything to do wit
the Western Pacific That was technt
cally true. In the same way the Chi
cago, Milwaukee & st. Paul is denyin
that it has anything tnsde with the puls
chase Of Tacoma and Seattle lands, wit o
the surveys for line from the Missouri
river west or with the formation of :
new company, with nominal capital,
build a line Of railroad to the coast
This denial is also technical and wiz
probably continue until such time az
| the st. Paul is ready to consult with tn
fnsnciers as to the floating of bond2
to pay for the new line or to call fol
actual bids on construction.
| The plan appears to be to form y
probably over $75,00o,006. This stocl'
will 90, or at least, the better par!
] of it will go, to the Milwaukee treas;
ury. In return for this stock, the Mix
waukee road will guarantee the inteli
est On an issue Of first mortgage bond,
for the new company, aggregating prob
ably $75,000,000. authorized, and ISSUE
the purchase Of lands, material, etc
At the outset probably the issue will,
not be over $25,00O,O00. which will
pay the cost of surveys, terminal land,
and the other expenses so far incurred
as well as providing the necessary CAST
for the initial orders Of rails, etc.
needed within the next twelve months
All Is Silence.
Neither J. T. Woodward, president o,
: the Hanover National bank, Roswell
Miller, chairman Of the Milwaukee
board, nor Mr.. Earring, the president
=, will talk for publication about the plan
, of the Milwaukee. The annual. report
! recently issued, is dumb on: this ali
important question. That Surveyor
. kare actually, in the field running sur
yeys thru the center of Wyoming /,
: admitted By directors, but = nothin;
:, definite is obtainable which could b
y construed into definite enough inferms
4 tion as to the location of the new mai
line. = - ..s.-~-' 2
+ All this precaution is well advised
Not only does it AVOID public discus
sion of private plans. but it also pre-
vents the usual running up Of real es
tate prices along the right Of way whicI
. usually results in a net loss to a neI
. railway of any Importance running int
q the hundreds of dollars a mile.
!, H. R. Williams, president of the Pc
q cifc road, has given out an interview
'e in Seattle in which he denied connectio
"a with the Milwaukee road, Of which b
le has just resigned as general manage
" Mr.. Williams says that he was offere
vi his present position before resignin
W from his position with the Milwaukee
IS and that the offer was so favorable b
Is could not decline it. He stated ais
If that he was not acquainted with j.
IS Woodward, the former official of tn
of and Tacoma tide lands were bough
to and which were later transferred to tt
IT, Pacific road. He does not know that
er is a director of the Milwaukee road.