New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-02-07
The Financial World.
THE TRIBUNE'S FOREIGN NEWS. ivan.

Wall Streets curio pessImists are proclaim
ing that, having bought Colorado Southern, hsv-
ing brought his great compact Northwest System,
up to an actual junction with the Denver and
Rio Crande and the Western Pacific, James 7
Hill is going TO stay quiescent there-that ba
has not and cannot be induced % have anv
thought of proceeding over the available Denver
and Western Pacific lines across the continsB,
to San Francisco AIr. Hill. maybe hasn't tia
habit Of taking these Wall Street oracles into
his confidence any more than 3Ir Hawley has
nor Is Il strange that there is even a d0Ibls
silence when as In this case, James J. Hiu and
Edwin HaWley working in joint account
That George J. Gould is TO remove hi-asers
from the Denver and Rio Grande IS not suppos-
able. But that Mr. Gould IS welcoming James
]. Hill into Denver and Rio Grande and ir+o
Western Pacific IS altogether suppOsab-e-Ed-
win Hawley Gin Western Pacific from its vsrv
inception) the effective neBotatoT. able 20 bring
about the entente cordiaIe between 1Ir. Hi WITH
HIS thousands OF miles OF Northwestern track
and Mr.. Gould with other thousands OF miles ~
track IN the Southwest
Financial junctUre like this has until now
been scarcely forecast anywhere. Railway am
ance so stupendOus has not before been bruifa4
an alliance. however. leaving the Man q TIA
Northwest and the Man Of the Southwest sffrI
each with his own system independent IN seDa-
rated respective territOries-an alliance whose
immediate consequence IS not merely IN tas
requirement OF new vast facilities for old stand
ard lines, but In a new ability % command CO.
Operatively. a single channel for traffic vhozs
volume and whose profit cannot be Overesti-
mated Missouri Pacific and Texas Pacific %
now 70 the Pacific Coast To the Pacific Coast
by the self-same rOute-gO. TOO. Chicago Bur.
lington and Quincy and Great Northern
This quickened initiative is made possible By
1 reason Of "the mutual friend" Edwin Havlev-
whose Colorado Southern transfer 20 the Bur-
hngtOn is likely continually 10 loom larger and
larger as feature and factor in current railway
tom ION '-'a' A4'''''- anu ''''-s'''A-
Western Pacific. on many accounts. IS a mar
vel among railroads. Wall Street knows HttIs
about II. for Wall Street has been pleased per-
sistently to ignore it: and the projects propre-
tors themselves have been content % proceed
without press agency babble- But Western Pa
cifc. nevertheless, is passed now from being
prospect into becoming a very real railroad vel
on 10 a thousand miles READY % 90 business
eeKressfveiy And as there has been nothing in
its construction short OF the utmost LnaL modern
skin and unlimited financial resource can ac-
complIsh so there promises % be nothing IN is
operation short Of vbat is the Characteristic q
the utmost American hustle Our next Fourth
OF July will see the system operating
Before one stroke Of construction WORK started
$50 OOO 600 was in hand for the roads building
and millions more have been since provided
That reveals what throughout mas been ina
Western Pacific size and the western Pacific
way. It IS not q system built IN "a hurry, nor
built scantilv It IS the result OF well considered
plans competently exeCuted-a railroad Tor
which there was not merely opportunity but
actual service need 1t does not have 10 pioneer
and sEiTnish for chances 10 create IrF Dl'--
ness Existing traffic VIII load IL me ol-c-a'
belief Is succinctly this There seems 10 De no
room for doubt that Western Pacific Will oe
supporting from the day 1t IS Iu-y opened
TO business"
Investment in this new great property Is, q
course stupendous; but under the direction Of
Mr. GOuld's business associates, headed by 4 !
Jefferv President Of the Denver and RIO Crrands
(there can be no more conservative Tanager)
every detail Of construction and equipment naS
had expert supervision, ana coIniaIiso-ls I'm
investment standpOints show that II actually
has a less interest charge $500 Per nile le5s)
than the Chicago, milwaukee ana 81 TAU an-
dertakes for its new Pacific extension, while
Central Pacific, its direct competitor, mas an
interest bearing debt $4,000 Per mile greater
than is Western PaCthcs-
Engineering Accomplishments Iar our OF l-5
ordinary advantage the new line, IN grades ana
curvatures espeCially-Weste PaciEc crossing
the Sierra Nevadas 1000 feet below SUBMITS
which connection has 70 climb and this has
vast consequence in the making or lower cOstS
for maintenance as well as operation western
Pactfc's grade IS but % feet 20 the mile az rs
r1axiuUrl-and for three-Q quarters or us way =
is barely 20. Union Pacific, Northern PacLnc-
Great Northern have maxinums OF rs, Atchlson
passes 1I5, Canadian racine -+'- ----7 ----o1 -5
ably accounts for the fact phenomenon. consul
cred as a cOmpartsOn) that there IS not O Loo-
Of snOwsheds on the whole system none Iec19
sary" IS the engineers deClararion-ald WIla+
this means economically is amply sugSeSJed N
the statement that $4,000 cost Per mile Is ~.
considered a snOwshed exJrayaSance oy ol9
other Pacific road. Snowfall on the western
Pacific (BechwOurth Pass during three months
In the winter Of 1867 averaged lIc-tSr "----5
at the same period Central Pacitcs summit L-A-
TO struggle with about feet
As to traffic possibilities. the new ROAD u1.-
Arses TERRITORY TANNED with freight the payer
OF dividends" For much OF its course the sys-
tenn quoting officially, lis q pioneer. tA7 lEst
railroad to reach sections which have long Des1
CRYING for transportation of modern SORT al
waiting TO yield harvest OF gold IN eNcl5Ls7
for it,; and the same authority ADDS -l-- w. -
ern Pacidc's dividends have 70 90 1-- -
possibilities but actualittes. AIaTs--a--z- -
tistfcs present amazing prospects ---i--t-' n
Colorado Nevada, Utah all are drawn CsI--, =
are vyelcomers Of this potential rac-oE u - -.
DEVELOPMENT; for throughout that eNpa-.,l--s
territory is alert recognition OF a new o-s-l-11
pace certain TO be set, making Il no "e-,-- -
even such an ultra conservative as me el--l'--
Stephen Little is found aveTrinS- II : = 49,
crate estimate that from the day on EE---C-
opens the Western Pacific Will begin WIN ea a-
ings Of more than $4,000 mile q record 60, -
as compared with any other Western Inc -
freight is in sight.
However assured, though the immediate proS-
perity Of Western Pacific may be theirs IS onS
one way in which the investor can now paT'l-1
pate in the benefits Western Pacific sAaEes az
not ecoufrabIe in the open UaEkeL INo-CL'--
OF the issue (and the remainder locked W =
in the treasury Of the Denver anu $50 N'--- -
railroad. Western PaCihc's prJ1LS, III q Wa"
are to be Denver and Rio CiraDde.s pr0E-S- II
Undertaking to point out the rvds 3i-1l-5 -
potential possibilities Of the most llle-e5t--77
railroad situation in the country, q We" -
stock Exchange firm Of standing ep-tli-l--1S =
analysis and forecast Of Western E.lC---- -
80, -zrF