Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1914-01-22
Attorney Returns From East
Well Satisfied With Pro-
gress Of Gulf, New Mexico
and Pacific.
DETAILS ON THIS SIDE
ARE NOW COMPLETED
Contracts for Taking Over the
New Mexico Central Perfect.
ed and Promoters ON Way to
Paris.

Attorney q. ". Dobson returned
last night from Chicago and Pitts
burgh where he has been for the
past ten days with col W : Hope
well. in connection with the work
OF the recently organized GUT New
Mcxlco and Pacific railroad Col
oBel Dubson returns thoroughly sat
isflcd with the progress OF the
plans 90 the railway company. and
certain that the construction Of the
line. ha purchase Of the New Mexl-
60 Central. aud extensions 20 Farm
ingion and Roswell VIII ho under
way within comparatively short
time. or az quickly as the mass oi
detail Ia connection with a project
81 this magnitude can be- carried IN
90 effect
MATTERS in connection with the
carrying out the plans OF the
Gulf New Mexico ana Pacific Rail-
way company uu progressing very
satisfactorily" said colonel nubson
this morning Every indication
now points TO the construction 81
the connections and extensions pro-
posed by the company's charter and
I believe the situation could hardly
bc more eatisfactory.
There are some complications
with regard to that portion Of the
road tn be built between MuFiarity
and Albuquerque. or the Albuquer-
uuc Eastern, na u u known, but
these viii not Interfere IN any way
with progress ~ the plans ~ the
ncw rniIrpad corporation, Under
the articles 81 incorporation OF the
new company this portion of the
now road is to he constructed first.
But in the pending litigation Judgs
&. n Collins AZ referee, decldeis
that the Albuquerque Eastern bonds
were inyulid and that the deed OF
trust to secure these bonds was void
and recommended the dismissal 81
tho complaint filed by the Pitis-
burgh Trust company nH trustee on
behalf ~ the owner of the bonds Tn
view of this situation the hondhoid-
ers committee would not and could
not guarantee any title 60 the part
of the Sew Mexico Central proper
ties known as the Albuquerque
Eastern
''rhis decision hy JudEo Collins
means that the creditors uf the Do
mini0n Construction company con
tractors fur the Albuquerque East
ern have an equitable Hen on the
NsTets 0f that company 90 the pN-
tent of StSgso0 and the exceptions
flied hy the Pittsburgh Trust COM
rany to the referees report were
heard on tho fuh ~ this month.
bn have not vet been determined,
And until the rights of the parties
are determined the holders ~ the
bonds can not guarantee amy right
or utle % the Albuquerque Eastern
Property
II may say however that under
our perfected contracts thls sltua-
tion a. not interfering IN any way
with the progress of the Gulf New
Mexico aud Pacific plans,
"colanol Hopewell has now car
ried out his part ~ the con,rEc,
which makes u possible for the
building OF the new road and extcn-
sions 81 the present New Mexico
central line 60 proceed ana "a only
remains for Mr. Herbert Green "a
float the bonds which he seems con-
ndcut he viii be- able to DO. and
which confidence seems to hc fully
sualnlned by hla relations wkh
French flnanciers and the aasur.
ancos he has received from them.
"T'he situation insofnr na matters
have progressed IN entirely satlsfac-
tory from business standpoint
DO not holieve the recent failure ol
ono ~ the large banking houses 0l
Paris. said 20 be due 90 over invest.
mont IN American ~ailrond securi
ties vim have the slightest effect or
this project or win work against q
in amy way. or that u viii IA nn,
way effecl she contracts which chs
promoters ~ ihe limo have with ~,