Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1905-10-21
INFORMATION
WITHHELD
Directors Of Enterprise Bank
Refuse to Tell Of Action
Taken at Meeting
HAS FULL CONFIDENCE
Col. W. S. AopewelI Believes in Future
OF the Santa fe Central and
Pennsylvania Development Co.

Pittsburg, Pa, Oct. 21-Apparently
the directors OF the Enterprise Ma
tlonal Bank of Allegheny are today as
much in the dark regarding the banks
financial condition as they were when
the doors were closed Wednesday last.
The conference of the directors and
their counsel last night did not adjourn
until after midnight. Information as
to the question under consideration
was refused but it is known that the
advisability of taking action, either
criminal or civil, was discussed and
also the methods to be pursued in hold
ing the estate of Cashier Clarke liable
for any shortage that may be disco
yered. Negotiations are now under
way for the sale of the Santa Fe Cen
tral Railway by its Pittsburg owners.
1t IS said that several offers have been
made for the property and that at least
TWO or three railroads, which now have
connection with it are among the ne
gotators. These roads are the Denver
& Rio Grande, the Rock Island. and
the Santa Fe proper.
Bank Failure Does Not Touch New
Mexico Interests.
In an interview at Albuquerque yes
terday Hon. W. S. Hopewell, general
manager of the New Mexico Fuel and
Iron Company, states that his conf
dence in the New Mexico enterprises
OF the Pennsylvania Development
Company, is not shaken by the failure
OF the Enterprise National Bank.
Among other things, Mr.. Hopewell
said
AT the time was in Pittsburg last
August the Santa Fe Central railway
company owed, | am positive, nothing
at all besides its own bonded indebt-
edness. If the company has any other
Indebtedness at present know nothing
OF it, | do not believe that it has.
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 exceed
100000. What little they do owe is
more than protected by ample securi-
| ties, 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 it's expen-
ses for operating and maintenance. 1t
| has just reached the stage where 1t
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 Ha-
gan coal fields demonstrates pretty
clearly that the road is a valuable
property When the extension to this
city and the branch to the rich Hagan
coal mines are completed, there is not
the slightest doubt that the railway
will easily more than pay it's fixed
charges.
"The closing of the Enterprise Ma
tional Bank of Allegheny will have, |
think, no effect on the completion OF
the Albuquerque Eastern The road is
to be pushed through just as soon as
possible. am going east in a few
days and with Messrs. Torrance, Ken
nedy and Andrews, will take up the
negotiations with New York capital
lists exactly where they were at the
time of the suicide of Mr.. Clark and
the closing of the bank. | believe the
whole project is to be carried through
just as originally outlined
"The gentlemen interested in the
Santa Fe Central are putting their
; imoney into the road in good faith,
and it is not political money. Tor
rance, Kennedy and Clark have al
ways had the reputation of being
among the most upright men in Penn
sylvania Mr.. Torrance is chairman
of the state board of charities, but Is
not a politician in any sense OF the
word. He gives more for charities
probably than any other private citi-
zen of the state of Pennsylvania.
Senator Kennedy is now resident
of New York state and has no polite
al interests in Pennsylvania. He
: takes no part in state politics and his
chief interests are in trolley lines in
Indiana While Mr.. Clark was
school director and was much inter-
! ested in the municipal affairs OF
, lPittsburg, he was far from being
Y politician. know Mr.. Kennedy and
4 Mr.. Torrance so well that | am salts
: fed neither man would allow anyone
! to lose a cent of money on their &C
S count or on enterprises in which they
I are interested.
4 "While Mr.. Andrews is interested in
:, politics, there is big fight now on
against Penrose and his following, and
anything like the present occurrence
is of course promptly seized by the
enemies of Mr.. Andrews to make po-
litical capital The whole business
d has been grossly misrepresented, in