The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1915-07-21
WABASH RAILROAD
SOLD UNDER THE
HAMMER
Sal, 000, 900 Instrument of
Which Equitable Trust
Company Is Trustee Basis
Of Giant Foreclosure.

organization committee 90 the road y
creditors unGcr foreclosure here to-
day TO satisfy a 8si.0oo. 00o mortgage
OF which tho Equitable Trust com
pnny 81 Now York Is trustee.
The road was knocked down 10
Robert Gooict. who bd for the pur-
chasing copmlttee 81 the Joint roor-
sanitation rommittce. As soon as
the federal district court which au-
tforizcd the foreclosure confirms the
sale Of che road Il will be turned over
Co the purchaser. Plans FOR r~e-organ-
i%zation having In view a termination
OF the ~receivership then will be
worked out.
Among the New York nnanciers
Who attended the sale were Robert
Goelet, member Of M REORGANIZATION
committee; u. ii. Nelson. represent
ing Kuhn. Loeb and company. and
Lawrence Greer and @. w. Murray OF
the Equitable Trust company.
bidders were required To put up
81 5oo. 900 or Wabash bonds to the
abount Of ss,soo,ooO.
A few minutes before tho sched-
ulcd sale at HE Wabash railroad un-
der foreclosure here al noon today
the New York Trust company filed
suit FOR st.575.0OO Tor the rental Of
cars and equipment against the Wa
bash railroad tn the Emitted States
district court here.
The Wabash railroad rs Il now is
constituted d "a combination Of sct-
eral lines. INDEPENDENTLY built. with
a total mileage In 1914 of 2nfi.
The parent line of the entire sys-
TEN was the Toledo q Illinois. which
was organized In ISIS TO build "a line
between Toledo and the western
boundary OF ohio. Ia the same year
the Lake Erie. Wabash a. 81. Louis
Railroad company vas organized 20
build "a road from the eastern Indiana
line to the western boundary of that
state.
a road from Toledo through ohio
and Indiana was built under the
charters of these two companies. ana
the corporations were consolidated ln
1886 under the sitic. Toledo, Wabash
q Western This road was sold un-
der foreclosure In october. 1855. 10
WIS rcorganized under the name To-
lodo * Wabash, and was operated as
such through ohio, Indiana and lIh-
nols until 1865.
MeanWhil other roads. now em-
braced in the Wabash system, had
been built. notabh tac quincy C. To-
lcdo. the Illinois q Southern Iowa
and me Great Western. In 1855 an
these roads were consolidated with
the Wabash.
The Wabash was built into Eust
81. Louis. H., in 1870, ms the Decatur
a. East 81 Louis. This road passed
under control OF the Toledo, Wabash
& Western, tho name of the now en-
iarged Wabash system. The opcuiug
of the great Euds bridge a lew years
later gave the road entry into st..
Louis.
Tho Wabash IN 1870 leased the
Hannibal a. Naples railroad. and the
next year obtained control OF "a line
running from Hannibal "a Moborly.
This limo Is now a section Of tine
main line from Kansas city to To-
ledo.
other lines were bought or leased,
ana in 1872 the Wabash was pperdt-
ing 900 miles oi track. The company
failed ln 1879, and was ln the hands
of q receiver until 1871 In that year
lt was -rouraauizod under the name
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