The searchlight. [volume] (Culbertson, Mont.) 1902-current, 1911-06-09
BIG BOND issue
BIG SUM SAID TO BE SOUGHT FOR
REVISION OF WESTERN
RAILROAD MAP.
GIN. ISSUES 100000, 900
Extension o. C., B. & @. and Great
Northern to 'Frisco-Deai Ap-
proaehes Magnitude Of North
ern Securities Merger.

st. Paul, Minn.-With the issue OF
$500. 100000 of Great Northern rail
road bonds plans for a gigantic rail
road deal, engineered by James j.
Hill, were revealed.
1t means. declare those who are In
touch with the immense transaction
the assumption by the Great Northern
OF control over a big part Of the Chi
cago. Burlington e. Quincy system
construction of Burlington extension
from Denver southeast to San Fran.
cisco, divorce of the Great Northern
from the Northern Pacific in the north
and a new northern coast line for the
Great Northern from the Twin Cities
to San Francisco. This latter addition
to the Great Northern service would
be brought about by the extension oil
the Oregon Trunk line, already a
Great Northern line, from Bend. Ore.
to the Golden Gate by way OF Sacra
mento, and the taking over of the Sc
attic, Portland & Spokane road.
Longest Road in World.
The primary cause of the immense
railroad deal, which will give the
Great Northern more miles o. track
age than any other railroad In the
world, is said to be the failure of the
/ Hill interests to control the Northern
Pacific on which the Great Northern
was forced to depend for portion Of
! its north line coast journey. Some
thing like half the 100000. 900. it /:
understood. is to be spent in this
northern country. Already $50 miles
of construction work from the Colum
/ bia river on to Bend, Ore, has beer
completed on the Oregon short line.
I This line, together with the Seattle
Portland and Spokane. would give the
Great Northern its long cherished
route right into Frisco through the
/ northern states. To get control o.
/ the Burlington for its southern route
! II is said authoritatively. that the Hill
. interests got many millions in Bur
/ lington refund bonds where the,
/ wanted them.
/ Recalls Northern Securities.
/ Following is the account of tn,
bond issue as carried by the Associat
ed Press:
"A move that is strongly suggestive,
here of railroad operations on tn,
scale of the Northern Securities com
pany was announced by ]. ]. Hill
chairman of the Great Northern Rail
way company. today when In a type
written statement he announced tn,
execution of an $500, 100000 first an,
refunding mortgage to secure bond
for the Great Northern and Chicago
Burlington and Quincy railroads. TIL
statement follows:
The Great Northern Railway com
pany, as of date May, l, 1911, hA
executed its first and refunding mort
sage, securing a total authorized il
sue of 5000, OOO. 900 bonds.
The size of the mortgage is eS
planned by the fact that the outstand
ing obligations of the company whicl
are to be refunded amount. approx
mately, to 1885,. 900, 900. Included, how
ever. In the figures last named is a
direct and contingent obligation of tn
company on the Burlington joint fou
maturing in 1921 and aggregatin
s222 100000.
Covering a future of fifty year,
approximately s270.0O0.O 900 in bonds
therefore, will be available for ger
eral corporate purposes. double-tracl
ing aud additional mileage. Sine
its beginning. thirty.two years ago
the Great Northern has expended b.
tween s350.000.0 900 and s40O, 900, 90
out Of capital and earnings. The prs
vision made for the future In consider
alton Of the rapidly growing territor
which Great Northern lines serv,
would seem intelllgently conservativ,
In no other part Of the country ha
nature more generously bestowe
those three great sources of all n;
tional wealth-the farm. the flores
and the mine-and nowhere else /
there more room for such develop
ment as follows the occupation of
new country by an intelligent pop,