The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-07-13
SAMUEL kEWHOUSE
TALKS OF PLANS
Revamping of the NewhOuse
Company Is Going Along
Very Smoothly.
NEARLY ALL STOCK
AND BONDS DEPOSITED
Company Is Figuring on Adding
Comet and Black Bird
Properties.

That there are items involved in the
reorganization Of the Newhousc Mines
and Smcltcrs Corporation that have
not been discussed publicly, is NoUched
for by Samuel Ncwhouse, president OF
the company. When told of numerous
runors which have been going the
rounds since his prolonged absence in
the east, Mr. Ncwhousc half way ad-
mittcd there was some foundation to
some, although he deemed it triflc
early to say too much at the present
time.
Ono of these reports has been to the
effect that the reorganization plans
contemplated the acquisition of add,
tional territory ad iaccnt 20 the original
Newhouse holdings. The Comet prop
erty, belonging to the Nevada a-Utah
company, and the Black Bird group, be-
longing to the DuBoisc interests, have
been mentioned frequently IN this con
nection When told of this, Mr.. New
house said yesterday morning:
Since the report has become circu-
lated, / see no reason for conceallng
that the acquisition of these two prop
critics has been considered by the New
house company 1t is too early 10 say
bGtH IlEUI DuN. DuI VIII S1N lHt'' IN
Gotiations are now on between our com
pany and the interests owning the
Comet and the Black Bird properties.
Some arrangements in all probability
will be consummated successfully by
which in some manner the two groups
will be acquired
When asked in regard to the condi"
ton of the reorganization plans, Mr..
Newhouse said that fully ninety per
nE Tho cfpcl- hoI hrnp IN
deposit. while ninetyfive per cent of
the outstanding bonds had been received
in accordance with the plan. The bal
auce of the stock and bonds. he said,
arc coming in steadily as the owners
learn of the programme mapped out.
This compliance with the request of the
reorganization committee is very en-
couragipg, and Mr.. Newhousc found in
the cast a sentiment highly flattering
10 the Newhouse property and conf
deuce in what the future holds for the
organization. The opinion is firmly
cemented in the east that the PROPOSE
tion will meet with expectations III all
wavs
Mr.. Newhouse announced that the
Gould and Southwestern Railroad lines
has been completed and is now in sue
cessful operation. This is a new road
in Arkansas which Mr. Newhouse heads
structed out of his own resources en-
tirelv upassisted by other capital. The
fact that this road has been rounded
out successfully during the period COW
cred by the financial panic and its
long g-drawD-out results, and at a time
when Mr., Ncwhousc was completing his
Salt Lake slyscrapers aud other nu-
merous western propositions, all de-
manding practically unlimited capital,
speaks highly for his ability TO carry
under difficulties enterprises that
would be extremely heavy weights to
the man less well equipped.
This road, says Mr.. Newhouse, has
started out in life with contract from
the Missouri Pacific company for 300
900 crossties, and with other valuable
contracts being rounded up at this time
The road taps an enormous wealth of
virgin timber territory, much of which
belongs to Mr. Ncwhouse, while it penc-
trates an ideal cotton growing area
which will give the line an abundance
Of paying business.
Looking from the office OF Mr. New
house yesterday, men could be seen at
work on the new hotel site Mr. New
house says this hotel work Will not
lapse now, and the raising Of steel
soon will take place.
g Ii is going to be built" he said
Yesterday.