Bisbee daily review., 1909-04-08
REPORT THAT
 GREENE SELLS
 HIS PROPERTY
Claimed That Mexico North western Railroad Has Pur-
 chased His Extensive Inter-
 ests in State of Chihuahua

The Wall street summary in the last issue of the New York News Bu- reau confirms recent reports to the effect that the Mexico Northwestern Railway company has purchased the great enterprises promoted and in- augurated in the state. of Ch huahua. Mexico. by Col. w. c. Greene. The article follows:
 Tt Is learned that the controlling
 interests in the Mexico Transports ton company, limited, are planning an important and comprehensive de velopment work in the northwestern section of Mexico. particularly in the state of On huahua. The prospectus of the company. brief synopsis of which we published on Friday, states that at the date of it's preparation, negotiations were under way for the acquisition of the Chihuahua and Pa. cific Railway company. These nego- tiations have been completed and the property is now owned by the new company. The Chihuahua and Pac fic is a railroad 125 miles long. extend ing westward that distance from the city of Chihuahua, which is the cap AAdA VI Ant lNANdLN oN1Nt VI lllC same name.
 "This road was built by Grant B. Schley, Oliver H. Payne and several other associates fin this city. Some four years ago A. F.. Stlwell. the pro . moter of the Kansas City, Mexico and i, Orient Railway company, entered in to an agreement with the owners of the Chihuahua and Pacific for a right 1 1f ha rNf knf road For at least half of the intervening time he has been operating Kansas City, Mexico and Orient trains over the Chihuahua and Pacific. It had been assumed. and even understood, that Mir. Stilwelrs agreement was for long period and carried with it an option to acquire the property. It Is l now claimed that be was in default upon the terms of the agreement when representatives Of the Mexican Transportation company began nego- tiations looking to the purchase of the property. At any rate. as al- ready stated, MT. St lvell has lost his grasp on the Chihuahua and Pacific. | This would seem a matter of no mean importance to him. ipasmucn as the construction of a similar and parallel line would be difficult and expensive.
 This is not all that the new com pany has done, for il has acquired the Sierra Madre Land and Lumber company, which was cons dered one of the most valuable properties for merly controlled by William c. Greene. Adjoining timber tracts have also been bought. It is understood that the new interests will likewise take over concessions formerly made 10 Mir. Greene and his associates, which are said to be very valuable. These include mineral as well as timber rights, and likewise the au-
 thority to construct additional rail road mileage.
 Representatives of the Mexican Transportation company have been negotiating for control of the latter company, but have not been able to close the deal, because they regarded the price asked as excessive. Accord ingly, 1t is understood that they have placed an eng neeriDg corps in the territory served by the Sierra Madre road and propose to locate line of their own. It is believed, howevr that the present owners of the exist ing line vii accede to the terms of the Mexican Transportation company. The latter has already acquired the Sierra Madre and Pacific.
 ''The prospectus of the new com rany states that in due time it Is 1 proposed to bu Id to the Pacific coast and connect with the extension of the Southern Pacific in Mexico which { Is being rapidly built along the west
 coast by F. H. Hartman. It Is also | proposed to build in a s0utheasterly direction from the city Of Chihuahua into tbe state of Coahu Ia. in which
 are located the principal known coal | deposits This enterprise Is entirely
 a private ore, and is headed by F.
 s. Pearson of this city. who controls
 the Rio Janeiro Tramway. Light and Power company and the Mexico Tramways company Of Mexico City
 While the acqu sition of railroads
 already made, and those proposed will not be regarded as extensions of the National Railways of Mexico. con trol of which Is owned bv the Mexi-
 can government. they will be direct
 feeders of the Mexican Central. one
 of the two large subsidiary companies , of the government system. The gov
 ernmeDt does not propose 10 control the Mexican Transportation com rany, but it will be able to keep a firm grasp upon the affa rs of tbe p company through three directors. E.
 x. Brown, president of the National Railways of Mexico: Julio N. L1man ? tour, brother of the minister of fi nance, and who in turn Is chairman r of the board of the merger system , and Guillermo Landa Escandon
 governor of the federal district ir ) Mexico City.
 - Tt is learned that the e2.400. .00t { per cent first mortgage 50-year goft r bonds of the Mex can Transportation f comDany, which were recently of
 fered in London. have been sold. Il | is also understood that the takius - over of the railroad. lumber and min { ing interests ~which Colonel CreeD' ( brought out will place him in bet r ter position financially than he hal r. been for a number of years. inasmuci $ as 1t will release personal holdings o ,- secur ties which he had pledged ai 1T collateral in numerous loans. Tn
 word. therefore, 1t is apparent tha i the valuable properties which h. Q brought out. but which for one req II son or another he was unable to hol' lt and develop. have passed and vii r. pass into strong hands and VII d be brought to their full fruition. B. creene's Stsrenent.
 t "Tn substantial confirmation of tn Is above Colonel Greene Is quoted b
 Ire Fl Paso, Texas. Times as fo v lows:
 V "Every original project that I an I. my assoc 'afes have ever had for tn e development of the Sierra Madr Ia counfrv vrtII ba carried out Tn fac