Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-11-21
DENVER AND RIO
GRANDE SOLD At
PUBLIC AUCTION
Representatives of the West
ern Pacific Railroad Pur-
chase the Properties for
$5,000,000 Cash.
tRy The Associated PresS

Denver, Colo, NOV, @V'-tepre-
sentatives of the Western Pacific
railroad. bought the properties OF
the Denver and Rio Grande rail-
road at foreclosure sale here today.
The sale price was $5,O00,OOO
cash.
The purchasers also agreed TO
assume s14L175,000 Obligations Of
the Rio Grande,
The men who acted for the West
ern Pacific in the purchase We're,
John f. Bowie of New York,
general counsel for the Western
Pacific; John Il. Marsh and Ralph
NJ. Arkush, all of New York the
amount for which the road was
sold was the minimum amount set
by the United States district court
in it's order for the sale of the RIO
Grande.
Mr.. Bowie announced to the AS
ISOLATED Press a few minutes alter
the sale had been made that ne
had bought the property Tor the
Western Pacific railroad corpora
ton, the holding company for the
old Western Pacific railroad com
pany and the Denver and Rlo
Grande railroad. He said there was
no definite plan to combine inc
Denver and Rio Grande and inc
Western Pacific properties and that
the properties may be operated d.
separate lines.
"The roads, of course, sald ~
will be under common oWnerShit
and their operation will be closely
aligned ,,,,
No provision was made to take
care of the stockhSiders OF III,
Denver and Rio Grande railroau
Mr. Bowie said.
This stock, common ana pre-
ferred. amounts to $s7.7l5,6iO.
Asked If there had been any
provision made to take care OF the
Stockholders in the Denver ane
rio Grande Railroad company, Mr
Bowie replied: "rhey VIII gel
nothing"
THE proceedings of the sale oc'
cunied exactly forty-nine minutes
Inst as the noon whistles blew II
The factories surrounding the rec
brick ID. and r. G.. freight house
where the sale was held, Specla
Master William A, Jackson beGaI
reading the formal notice OF tul
sale. There were apnroX'iiia.tie,S
four thousand words in this notlcc
At exactly. 1910 o'clock he an
nounced that the road mad pee
cold to Messrs. Bowie, Marsh ant
| Arkush.
About 100 Persons Present
The sale was held just OUTSIDE
the offices of the freight house am
| tho firfanciers, attorneys ana ON
6rs who attended were Kept DuSS
| dodrjng trucks and wagons Golht
IN and from the freight house
| About one hundred persons, III
Guiding five or six women, atteho
ed the sale.
Attorney c. r. Carnine of Den
ver representing the d and H. u
stockholders protective comhiiItSo
read a formal protest against INV
| sale. ..,or
MIR. Carnine attempted to inter
rupt the special master TO pesI'
reading his protest, but was -
fenced by Mr.. Bowie, who adviser
him, do not interrupt the mast,
| Attorney George l.. Nye OF Dun
yer also read a formal notice tt
rarding certain contract rights .
the Utah Railroad company
Mr.. Carnine's protest was 10 az
prise bidders of the attempts oil wv
Stockholders to block the sale a,l'
also that the stockholders intehde'
to continue their fight against th'
sale. ,.,,.
Stockholders to Fight.
II set forth that the stockho'uel
had attempted to intervene IN tn
main cause when the sale was u
dered but that the Intervention ma
been denied after which they az
peaIed to the United States clrcu'
court of appeals. This appear
still pending. or
| The protest said that the stoeh
holders intended to present opJeI
tons to confirmation of the sdi
iby the federal court and inteno y
| institute proceedings in the uhite S
States district court for the sou.,i
ern district of New York TO nay
1.-THE Judgment on which the Sal
was based vacated.
|
| 70 xzo,,r cI,i1d oats ravenOIlsly o