The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-06-09
TRACK Is CLEAR
To THE COAST
Western Pacific Doomed in Rio
Grande Meeting.
INSURES THE BOND ISSUE
WORK TO BEGIN SEPT. I, SAYS
VICE PRESIDENT ScHLACKs.

A CTION having an important bearing
~ on the construction of the Western
Pacific was taken yesterday in the
meeting of the directors OF the hlo Granoe
Western company in the office of Cashier
William y. Cotton in this city. 1t was
preliminary meeting clearing the way Tor
other and more important meetings YET
to be held. but it was an absolutely ueces-
sary meeting. The fact that all was per-
feet harmony in the meeting and that tna
objects of it were carried out to the let
ter gives great satisfaction TO those W.
have been pinning their faith on tilt
building If the Western Racilic AFoiiL ''---
city 20 san Francisco
In the meeting a majority OF the stuch
was represented by judge joel r sit-'
general counsel for the Rio (Trande west
ern. and J. b Andrews. assistant TO wee
President and General Manager Charies
J. Schlacks, acting as proxies Ju9Ee
Vale presided over the meeting ana MI.
Cotton acted as secretary.
From an absolutely reliable source OUT
side of the men named above II Il learned
that the prime object Of the meeting yes
terdav was to clear the way for the S,1.-
100000 bond issue. The mortgage upon
which this bond issue Is based was ISSUED
a year ago II guaranteed the lace ~
the bonds. but not the interest on JHe
bonds. Later this interest was guarantee
by George J. Could and the Rio Gr5nde
Western. But the syndicate that IS han
ding the bond issue required that the M
tercst be guaranteed officially a a rex
ular meeting Of the Rio Grande Western
stockholders. 1t is asserted this was tE1
chief business before the meeting yes
terday. and that this action removes the
last possible objection any investor Cuulc
raise against Western Pacific bonds
Object of Meeting
The official call for the meeting an.
nounCed that it was Ito consider and vote
on the question Of accepting the cousltu-
llon OF tne state or Jan ana OF co!l9l,lfl
ing and acting upon certain contracts Witf
and on behalf of the Western Pacific
Railway company
After the adjournment Of the meetius
Mr. Cotton said that the constitution had
been accepted, and that the contracts had
been ratified He admitted that these
contracts had a direct bearing on the
construction Of the Western Pacific, hul
that he could not give the details To the
public at this time for the reason tn3t
publication might emherrasS other 1uc
more important actions soon to follow
THE meeting today Mr. Cotton said
was but clearing the gTOund-it was
preliminary meeting j see by your paper
that a meeting Of the directors OF the
Western Pacific is scheduled to be held ir
SaE Francisco next week [ know moth
/ ing about this except what have reac
/ in the dispatches, but tOdayS meeting
l viii have a direct bearing upon the &C
1 ton of the directors next week
| Il will say Mr.. Cotton concluded
| that it looks bright for the Western Pa
CifiC. The meeting today was harmonious
/ everything scheduIed TO be done was
| done"
Judge Vale and J. r. Andrews refused
/ to discuss the proceedings Of the meet
| ing after the adjournment. further thar
| to Say that everything was harmonious
I and that the business Of the meeting was
/ disposed Of properly. Asked concerning
! the Western Pacific, Judge Vale said
| that the Western Pacific would come
/ later. The judge left last night for New
/ York for the purpose, 1t was said. OF re-
| porting the outcome of the meeting tr
NIr Gould Mr. Andrews is expected %
: remain in Salt Lake for several days.
Engineer in City.
/ Virgil p. BoEue, the consulting engineer
1 for the Western Pacific arrived In Sal
I Lake yesterday on the same train thai
/ brought Judge Vale and Mr. Andrews
from the east This fact in itself is no
without significance Engineer f J
Yard is also expected on every train from
J the east Engineer Bogue will go on ID
Z the coast.
/ \ special Associated Press dispatch
/ from Denver last night throws additions
/ light on the Western Pacific situation II
/ SAYS Vice President and General Man
+ aScr Charles H. SchlaCks of the Denver
/ & Rio Cirande railroad who is i'm New
] York comforting with r. T Jeffrey and
! George J. Gould regarding plans for the
! Western Pacific. has notified his Denver
/ assistants that work on the new line from
/ Salt Lake to San Francisco viii be uHdaI
! way by Sept l. According To the plans
now being outlined by the Gould interests
Z trains viii be running to San Francisco
/ by June 1, 1907"