The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1911-06-09
DIG SUM SAID 70 sE soucHr ron.
REVISION or WESTERN
s| rRAlLRoAn SNAP.
G ], n! ISSUES )! !. s|!60|!0!..oloQ,Oolo }
Extension ,of G.. D. 4. q. and Great
Northern to 'Friseo-Deal Ap.
prdaehes Magnitude OF North.-- !,
= sern Securities Merger.

road bonds plans for q gigantic rail
road deal. engineered by James j
Hill. were revealed
1t means, declare those who are II
touch with the immense transaction
the assumption by the Great Northern
OF control over big part Of the Chi
cago. Burlington & 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 OF
the Oregon Trunk line, already q
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 OF 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
It's north line coast journey. Some.
thing like half the 100000, 900, it ia
understood, is to be spent in this
northern country. Already $50 miles
Of construction work from the Column
bia river on to Bend, Ore, has been
completed on the Oregon short line.
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 of
the Burlington for it's southern route,
it is said authoritatively, that the Hill
interests got many millions in Bur-
lington refund bonds where they
wanted them.
Recalls Northern Securities.
Following is the account of the
bond issue as carried by the Associat.
ed Press:
"A move that is strongly suggestive
here of railroad operations on the
scale of the Northern Securities com.
pany was announced by ]. J. Hill,
chairman Of the Great Northern Rail.
way company, today when in a type.
statement he announced the
of an 100000, 900 first and
refunding mortgage to secure bonds
for the Great Northern and Chicago,
Burlington and Quincy railroads. The
statement follows:
The Great Northern Railway CON-
pany, as Of date May, 1, 1911, has
executed it's first and refunding mort.
gage. securing total authorized is.
sue Of $500, 100000 bonds.
"The size of the mortgage is ex-
planned by the fact that the outstand-
Ing obligations of the company which
are to be refunded amount, approxi.
mately, to $3.50, 00O, 900. Included, how.
ever, in the figures last named is the
direct and contingent obligation of the
company on the Burlington Joint four
in 1921 and aggregatine
100000.
Covering future of fifty years.
approximately $4,000, 900 in bonds.
therefore, will be available for gen.
eral corporate purposes, double-track.
ing and additional mileage. Since
it's beginning, thirty-two years ago,
the Great Northern has expended be.
tween $350,O0O,000 and 100000. 900
out of capital and earnings. The pro.
vision made for the future in consider.
alton of the rapidly growing territory
which Great Northern lines serve.
would seem intelligently conservative.
In no other part of the country has
nature more generously bestowed
those three great sources of all ma.
tional wealth-the farm, the forest
and the mine-and nowhere else ia
there more room for such develop
ment as follows the occupation of a
new country by an intelligent popu.
lation."