Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-11-07
Sketch of c.. M. & ST.
Paul Railroad
Now in ReceiVership

Chicago, Nov. 8 (AP)-The Chi
cago, Milwaukee and st. Paul Rail-
way went into receivership March
10, 1926 when friendly involuntary
bankruptcy proceedings were insti-
tuted before Federal Judge James H.
Wilkerson in Chicago.
It was represented that the rail-
road ould be unable to meet $4S,000,-
900 bonds due In June, 1925, and re-
vealed that the road on January ].
1925. had an outstanding indebted
ness of s465, 045,000, and with the
exception of 1923, no year since the
period of federal control ended had
procured income SUFFICIENT even to
meet the interest charges.
H. e. Byram. then president Of the
railroad; Mark w. Potter, former
member of the Interstate Commerce
Commission, and e. j. Brundage.
former Illinois attorney general, were
appointed receivers.
The railway, with upwards Of
5000 miles Of main line, is one CT
the nations most important systems.
It was the first Of the western
roads to push it's own steel to the Pa
cif1c Coast, and has been a leader in
pioneering since it first was incor-
porated as the Milwaukee and st.
Paul Railway Company in 1858. 1t
was the first railroad to operate
electrically across the continental
divide. At present 1T operates cleo
trically between Harlowton, Mont.
and Avery, 440 continuous miles
over the Rocky Mountains, and 209
miles from Othello. Washington, to
Seattle and Tacoma. J.
In some quarters 1t was held that
the basic cause Of the receiver
ship was extension, largely the
Identification across the Rockies and
Cascades.
The c. NJ. and S. P. operates its
own sleeping and dining cars. ana
was the first to install electrical
equipment on trains. 1t also intro
duced the electric reading lights IN
sleeping car berths.
1t also was the first western rail-
road to operate solid steel trains in
the transcontinental service.
Since it's first projection in the
early SOS in southeast Wisconsin the
road has been remarkable for its en-
terprise in penetrating new territory
and developing new sources.
Extending gradually north and
west year by year 1t played a vital
part in developing the northern Mis-
sissippi valley, and then reached out
to the virtually unknown Missouri
River valley.
The C. M. and S. P. notably helped
to transform the virgin plains and
prairies into the worlds richest grain
bearing country.
The Pacific Coast extension to
Puget Sound was completed in 1910
under the presidency Of Albert j.
Earling, who started as q 17-year -old
telegraph operator and retired in
1919 as the 71-year- chairman of
the board Of directors.
AS settlement of the country pro-
crossed, the business volume de-
manded a Chicago outlet, and in 1873
work began on the Chicago extern
sion. In 1876 the roads name was
changed to that of the present.
Because of its great freightage of
mining and FOREST products the rail-
road is closely affected by the indus
trial prosperity of the country. Re-
Gently, it was figured that 33 percent
of the roads total tonnage was from
the mining industry, II percent from
forestry, 10 percent from agriculture,
six percent from the animal industry,
and the remainder from manufac-
lures and miscellaneous sources.