Elko independent. [volume] (Elko, Nev.) 1915-current, 1915-04-27
WILL BUILD ROAD
TO W|HNEMUCCA

The following article is taken from
a recent issue of the Caldwell (Idaho)
Tribune:
When President Bush was last in
terviewed he stated that one of the
first things to be done, before con-
struction work on the railroad from
Caldwell to Winnemucca could be
undertaken. would be to secure a traf-
tic arrangement with the Western Pa
cific railroad. When Colonel Place
was in Idaho some little time ago he
stated that this traffic arrangement
must be made. He started to work
at once and his work has resulted in
success.
Friday of last week George w.
Fletcher, the well-known Boise bank
er, and one of the leading promoters
OF the Winnemucca railroad, received
word from Colonel Place that the
traffic arrangement had been made.
This arrangement practically assures
the road as 1t is we'll known that the
money for construction purposes is
available at once. There remain a
few minor details to be taken up and
disposed of.
Colonel Place, Mr.. Fletcher and
others started for San Francisco the
first of the week. There they will
meet the receivers of the Western
Pacific railroad.
A telegram received Wednesday an
nouncing the departure of Colonel
Place for Boise Is the last of a series
of communications in which Colonel
Place has reported the progress of
his conferences with eastern capital
lists and officials of the Western Pa
cific lines upon the proposal to build
the Boise.Winnemucca road.
Just preceding the telegram Colonel
Place wrote that the Chicago people
were 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 to proceed to San
Francisco.
When the Boise-Winnemucca is
built, 1t will be an independent line,
operating under a traffic agreement
with the Western Pacific road. This
change in plan was made necessary
by the receivership of the Gould
lines and the resulting failure Of the
road. to secure capital with which to
build feeders to It's established lines.
Just before the system went into
the hands of theh receiver negotiations
were under way to secure for the
use Of the Gould lines twenty-five mil.
lion dollars in cash. Under the
agreement through which this amount
was to be furnished, the outstanding
bonds of the company were to be re-
funded, following this action, Holland
and United States capital agreed to
supply ten million dollars at once in
cash, and fifteen more as the road
requires II.
Nine millions Of the bonds of the
Western Pacific road are held in Cal
iforDia. These interests made objec-
ton to the terms under which the
bond Issues were to be refunded and
as natural result the system went
into the hands of a receiver.
Even with that change, Colonel
Place and associates did not lose hope
but went again to Mr.. Bush with
new proposition. The new proposition
met with the approval of Mr.. Bush,
but was unacceptable to the stock.
holders who could not see their way
clear to make extensions while the
road was in the hands OF a receiver.
This development necessitated q
change in the plans for building the
Winnemucca road. The proposal that
the Western Pacific build II as a feed.
er was abandoned. Colonel Place
went TO the capitalists with the pro-
posal that II be built as an independ-
ent line, under q traffic agreement
with the Western Pacific. The pro
posal met with approval. The traffic
agreement was drawn up and ratified.
Then the Caldwell. l.winnemucc
representative was sent to st. Louis to
pretent the new plan, with the pro-