The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1915-05-04
GOOD PROSPFO FOR BUILD
ING WINNEMU((A NORTHERN

When President Bush was last inter
viewed he stated that one of the first
things to be done, before construction
work on the railroad from Caldwell to
Winnemucca could be undertaken.
would be to secure a traffic arrange
ment with the Western Pacific railroad.
When Colonel Place was in Idaho some
little time ago he stated that this traf-
fie arrangement must be made. He
started to work at once. and his work
has resulted in success.
Friday April 10th, George w. F1eteh-
er, the well known Boise banker. and
one of the leading promoters of the
Winnemucca railroad, received word
from Col. Place that the traffic ar
rangement had been made This ar
rangement practically assures the road,
as it is well known that the money for
construction purposes is available az
once. There remains a few minor de-
tails to be taken up and disposed if.
Col. Place, Mr.. Fletcher and Others
started for San Francisco the frs tof
last week. There they will meet the re-
ceivers of the Western Pacific railroad.
A telegram received last week an
nouncing the departure of Col. Place
for Boise, is the last of a series of
communications in which Col. Place has
reported the progress of his confer
ence with eastern capitalists and off
cials of the Western Pacific lines upon
the proposal to build the Boise Winnie
mucca road.
just preceding the telegram, oClonel
Place wrote that the Chicago people
we're satisfied and that everything
which he had asked at st. Louis had
been granted. Following the accept
ance of the terms by President Bush,
Colonel Place was instructed to meet
Mr. Fletcher and proceed to San Fran
cisco.
When the Boise Winnemucea is built,
it will be an independent line, operat
ing under a traffic arrangement with
the eWstern Pacific road. This change
in plan was made necessary by the re-
ceivership of the Gould lines and the
resulting failure of the road to secure
capital with which to build feeders to
its established lines.
Just before the system went nto the
hands of the receivers negotiations
were under wav to secure for the use
Of the Gould lines twenty-five million
dollars in cash Under the agreement
through which this amount was to be
furnished the outstanding bonds of the
company were to be refunded, follow
ing this action, Holland and United
States capital agreed to supply ten
million dollars at once in cash, and fif
teen more as the road required I.
Nne million dollars worth of bonds
of the Western Pacific road are held
in California. These interests made
objection to the terms under which the
bend issues were TO be refunded and as
. natural result the system went into
the hands Of receiver.
Even with that change. Col. Place
and associates did not lose hope but
went again to Mr.. Bush with a new
The new proposition met
with the approval of Mr. Bush hut was
nnaeeentable to the stockholders, who
could not see their wav clear to make |
ovtensions while the road was in the
honas nf a reeeiver The DEVELOPMENT |
necessitated change in the plans for |
building the Winnemueca road. The
nronosal that the Western Pacifie build
- as n feeder was abandoned. Col |
Place went 10 the eap;talists with the
proposal that ii be built as an indie
nendent line. under traffic agreement
with the Western Pacific The pronosal
met with anproval The traffic agree
ment was drawn mn and rectifed
Then the Caldwell Winpemreea rem
was sent IN ct rsoris 10
present the new plan. with the nronos-
ed traffic agreement 70 President Rnsh
His last letter and telegram indicate
the success Of his plans.
Now Col. Place Is again on his wav
west to meet Mr Fletcher and 70 %
with him to San Francisco to place be |