Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1912-07-20
FIERCE sTRuoaLE WAoEp 70
FINANCE ATLANTIC NORTH
Z SOUTH RAILROAD.
RAILROAD lNrEREsrs
TRY TO PREVENT SALE
Exact Mature Of Powerful Opposition
70 Life Of Little Wsstsrn lows Road
Not Vet Explained shaw's Prestige
Goes Far Toward Securing Funds TO
Finance Prejset-Mystsry in Deal.

Hght to gain possession Of the Atlantic
North & South, Iowa people are wit
Messing one Of the greatest struggles
that has been thrown on the railroad
map Of Iowa." said railroad man
yesterday.
The Atlantic property as a railroad
proposition is perhaps insignificant in
comparison with the big systems. 1t
Is line originally built on the CO.
operative plan by agricultural inter-
ests. One branch extends north, the
other south Of Atlantic. Its mileage is
immaterial. It is the principles that
are involved.
All the elements involved in the
fight to finance the road are not un--
derstood yet, because the men who
made 1t are still abroad. But whether
the syndicate headed by Leslie M.
Shaw eventually wins or loses. it will
not destroy the fact that Shaw Is
remarkable man and that he has put
up remarkable financial fight against
the most discouraging Odds His de-
termination in the face of overwhelm-
ing and continued resistance has been
unusual.
Fight Shaw Syndicate.
1T is known that when the Atlantic
line was bid In first by the Shaw syn
ddcate. the men had every assurance
that they could finance the property
and carry out their intention to ex-
tend their Iowa & Omaha Short Line
to Des Moines. The Iowa & Omaha
Is an interurban electric line which
is being operated between Council
Bluffs and Treynor. The Atlantic
property was bid in for 100000, and
the representative of London bank
ing house. who was in Iowa at the
time, advanced the first $4,000 deposit
to hold the property until financial ar
rangements could be completed to
take over the property and also float
bonds for $5.000,000 to extend the Iowa
& Omaha line.
"The money for. the expected pay
materialize at the agreed time. After
time was secured and agents were
trouble. It was discovered that Iowa
!
syndicate through powerful banking
interests of New York and London.
The Iowa railroad system did not
want the syndicate .ta succeed. The.
syndicate was tapping territory which
the Iowa roads covered and coveted.
AT ore time the hope of success in
London became luminous and the syn
dictate increased tis deposit about $3,-
600 for another extension of time. The
expense Of sending men to Europe, the
printing Of bonds and the deposits tied
about $4,000 in the deal.
shaw's Prestige Wins.
"The agents at London several times
were on the verge Of success, but the
pressure brought to bear by the Amer
lean railroad bankers was too much.
Leslie NJ. Shaw was urged by cable
to visit London in person. Mr.. Shaw
Is an able man and had back OF him
the reputation Of a United States cab
met officer, which commanded for him
respectful consideration. 1t was felt
that If any one could swing the deal
Mr.. Shaw could. The man who at one
time directed the financial affairs Of a
nation lost out. Shaw, dismayed but
not discouraged, went to Belgium.
after weeks OF negotiations with
the bankers at Brussels success seemed
to reward his efforts. That the nego-
tiations were successful would appear
evident from tho fact that Mr.. Shaw
did not hesitate to recently deposit
$4,000 Of HIS o~n money in order to
secure further time.
What the hitch is now is not yet
positively known. The only informa-
ton that has come from the syndicate
is that there has been delay on the
part OF the London bankers In deliver
ing the bonds to Belgian capitalists.
There is probably a deeper reason be-
hind the present delay. The fact that
Mr.. Luffberry, one OF the syndicate, is
now in the money centers Of the east
is 9 fact which challenges speculation
and deepens the mystery.
Regardless Of the outcome, admir-
alton must go out to Leslie M. Shaw
for the battle he has put up He has
made a good fight In the face of the
NEST stubborn odds and he deserves to
win"