The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-02-23
Kuhn. Loeb & Co. of n. Y. Buy
Kansas Holdings Here.
Last Chapter in Railroad His
tory of Gould Family.
REORGANIZATION IS NEXT MOVE
Missouri Pacific Will Have
Capitalization S3s3,OOO,OOO.
Order of e. S. Court Read in
Front of Local Station.

The last chapter of railroad history
of the Gould family, one of the fore
| most in America, was written at noon
today in front of the Missouri Pacific
passenger station, Fifth and Adams
streets. Topeka At that time the
/ Gould holdings in Kansas, the Mis-
souri, Pacific railway, or the Kansas
& Colorado Pacific. to be exact, were
/ sold at public auction.
! The Kansas holdings were sold to
/ Duncan A Holmes, representing
Kuhn. Loeb & Co, New York. and
! r. H. Nelson, attorney. The bid was
made by Holmes, who appears no
more than youth, and the amount
was $4,000, 900, the minimum price
fixed by the United States court for
( the Kansas & Colorado Pacific.
I'VE purchased the holdings joint
ly," said Holmes, so that nothing
would drop dead between here and
| New York, or if Nelson would pull off
similar unexpected stunt"
! For more than an hour Omar Rob-
! inson, special master Tor the Missouri
| Pacific receiver, stood in front of the
depot and read the prolonged order
| of the United States court for the sale
| of the road to the highest bidder Be
| fore the reading had ceased fully half
| a hundred passersby had gathered
and stood with open mouths listening
| to the strange proceedings
Only One Bid.
! When the reading of the order was
concluded Holmes withdrew cigar
cite holder filled with smoking Gig
arctic from his mouth.
'I will bid s9S0O,0O0," he said.
Are there any other bids?" Robin
son asked twice.
IF not, one, two, three, the road
is sold.''
| A certified check for a large amount
was placed by the New York firm in
New York bank Thursday. The
technical part of the transaction will
be wound up today as the officials re-
turn to st. Louis in a special car.
| The courts order described every
! inch of the roadbed owned by the Mis-
souri, Pacific in Kansas. In describ-
| ing the length of the various lines,
the e-hundredth of a mile was
| enumerated While the reading was
| in progress, William Roberts, counsel
for the trustees, stood near a copy of
the court order in his hands and fol-
lowed word for word the reading of
| the master for the receiver.
Sale of Iron Mountain, Too.
The sale of the Kansas holdings of
the Missouri Pacific transfers every
! bit of the companys property into the
| hands of Kuhn, Loeb & Co, New
York; reorganization managers A
| like sale of the other Missouri Pacific
! and Iron Mountain holdings was held
at St. Louis, February 81. The St.
| Louis sale amounted to SIG, 500, 900
and the Iron Mountain brought % u
millions. minimum amounts accepted
| by the United States court.
| Under the reorganization plan the
Missouri Pacific is to have a total
cal italizatiop of $3.50, 642. 900 and the
stock of the Missouri Pacific and Iron
Mountain is to be assessed at $50 i
share. The plan also provides for a
single management under the guiding
hand of B. F. Bush, one of the fore
most railroad men in America Prior
to the sale, the Missouri Pacific and
Iron Mountain were operated under
separate directors and kept separate
accounts. Now the Kansas & Colorado
Pacific the Missouri Pacific and the
Iron Mountain will be formed into Il
single corporation. Every road in
Kansas, known as the Missouri Pa
cific, is affected by the sale
The Gould family dominated Mis-
souri, Pacific policies for years and
their last big venture was building ex-
tensions to the road to Oakland, Cal.
Shortly afterwards rumors of a change
in the management became current
and finally a receiver was appointed
in August, 1915. No immediate change
in the operation of the road in this vi
cinity will be noted, the visiting Of
ficials announced. Just those partf-
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