New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-28
TAKES OVER TWO ROADS,
National Railways of Mexico
Adds 500 Miles to System.
NOW HAS PAN-AMERlCAN
Other One Acquired Is Vera Cruz
and Isthmus, Owned by the
Government.

The National Railways of Mexico it was
learned yesterday. has acquired the Pan
American Railroad and the Vera Cruz &
Isthmus Railroad. The former was con-
troiied by Paul Morton president OF the
Equitable Life Assurance Society, and the
former United States Ambassador David
f. Thompson. and their associates. The
Vera Cruz road was owned by the Mexican
government.
The terms upon which the two roads
were taken over could not be learned yes
terday, but il is understood that an official
announcement, giving full details of the
transs ction, Will be made within a day or
two. Paul Morton, when seen at his offices
In the EQuitabl Building. at No 100
Broadway, yesterday, would neither affirm
nor deny the report, saying that he had
been IN Europe for three months and had
only just returned IF there had been any
negotiations for the transfer of the road TO
the National Railways Company. Mr. Nor
ton said, they had been conducted by Mr.
Thompson, and any information IN the
matter would have 10 come from him. Mt
Thompson is at present IN Mexico
Pan American About Done.
The Pan-Amercan Railroad was an IN
dertaking started by D. P. Doak and J. N
Neeland in 1901. They projected the line
from San Geronimo. Mexico on the Tehuan-
tepec National Railroad, southeasterly TO
the Guatemalan border. distance of about
three hundred miles, with connections to
the city or Guatemala A large part of the
road is already completed and in operation
Control OF the property was purchased
year ago by Messrs. Thompson and Nor
ton The roads authorized capital stock is
Sl0UO.co0, all Of which is issued It's bonded
debt consists of g, 100000 first gold IS and
$b.GH00o general mortgage bonds. The Pan
American Company, &. holding company, in
corporatec IN September. 1909 owned
S9'Hn000 Of the railroad company's stock
and 50. 600 of its general mortgage bonds
ne remaining g, 600 of general mort
gage bonds are reserved 10 retire the out
standing first mortgage bonds. The officers
OF the road are: David T. Thompson. presi-
dent; Paul Morton, vice-president: z NJ
Wise, general manager. and T. r Iacaze
secretary and treasurer
The Vera Cruz & IsthTnus Railroad. for
merry known as the Vera CRUZ & Pacific
Railroad Company. has been for many
years owned by the Mexican government.
1t runs from Cordoba, on the Mexican
Railway, to Santa Lucretiar Il distance Of
EO3 miles, where it connects with the
Tehuantepec National Railway also a
government property. and by which con-
Hectton Is had With Santa Cruz on the
Pacific Ocean. All OF the 81 0O0, 900 cap
ltai stock of The Vera Cruz & Isthmus Rail
road was owned by the Mexican govern
ment, which also guaranteed the roads
bonds.
Adds Five Hundred Miles to system
The acquisition Of these two railroads
is controlled through stock ownership by
the Mexican government, will increase the
mileage Of the latter system to the extent
Of about five hundred miles. and will still
further Increase the hold Of the govern
ment on the railroad situation in Mexico
and will also afford the government system
an outlet into Guatemala
The National Railways Of Mexico was
Incorporated in Mexico City in March
1905. pursuant TO 4 decree Of the Mexican
government, to take over and unite the
OF the National Railroad Com
palIy OF Mexico and the Mexican Central
Railway Company, Limited with power 10
acquire, construct and operate other lines
of abroad.
Embraced in the system Ire the Mexican
International Railroad. which recently be
came 2 corporate part Of the National
Railways Of Mexico, and the National TIE
hUaHTepfC Railway which, as alrea 5--
stated. is owned by the government but IS
not corporate part Of the National Rail
WAYS OF Mexico The total mileage OF the
system. including the two roads il is Just
reported 10 have acquired. is about seven
thousand five hundred miles