| Show First Move of the Great Utah Company GRASS CREEK TERMINAL WILL PUT THEIR COAL ON THE MARKET a Thin Company Incorporated For 120pOO It Mar Be an Extension of the Salt Lake and Los Angrelei The Board of Directors Talk With Mr Jaclc > Another move has been made by The Utah company the recently organized corporation which has for Its objects s6 many great Improvements In this territory terri-tory this time resulting in the incorporation incorpo-ration of the company which is to construct con-struct and equip the terminal railway system between Grass Creek station on j the Echo Park City Railway and the coal mines of The Utah company which is to furnish an outlet for the coal to be mined in the recently acguired fields J I i It is but the commencement of the work of The Utah company and the organization organiza-tion of another subordinate corporation i which will construct the main line between be-tween this city and Grass Creek is but the matter of a short line On the authority I au-thority of one of the principal promoters of the enterprise it is stated that no traffic agreement has been entered into i between the new road and the Union Pacific whereby the new coal could be placed upon the market although at no cheaper price than that now charged by the coal barons the project being but the inauguration of the great companys railroad building The final arrangements for the organization of the company were perfected yesterday morning and the articles of incorporation were filed In the office of Territorial Auditor Came just before 12 oclock The articles provide that the name of the corpOration shall fie the Grass Creek Terminal Railway company Salt Lake being the principal place of business This road will commence the Grass CreeK junction of the Union Pacifics Park City branch and run easterly up Grass Creek canyon to section 19 township 3 j north range 6 east the coal fields of The Utah company its length being six miles Its estimated cost is 120000 and the motive power will be steam Of the aggregate sum deemed necessary to complete and equip the road the sum of 1000 for each mIle of projected railway rail-way has been paid into the treasury of the company and this money will be available at once The capital stock is placed at 120000 divided into 1200 shares of the par value of 100 each The subscribers and the individual amounts of the stock are as follows Shares Wilford Woodruff Salt Lake city 250 George Q Cannon Salt Lake city 2oO Joseph F Smith Salt Lake city 250 William F Cluff Coalville 150 James Jack Salt Lake city 100 Frank J Cannon Ogden 100 I Arthur Winter Salt Lake city 100 The newly elected hoard of directors is made up as follows Wilford Woodruff George Q Cannon Joseph F Smith William Wil-liam W Cluff and James Jack In response to an inquiry put by a Herald Her-ald importer yesterday afternoon Mr Jack stated that within the next few days the first dirt on the grade for the road j would fly and the work of construction be i fairly commenced It Is the Intention of the company to Inaugurate operations on I the coal field end and work down the canyon can-yon for the six miles already provided for On account of the failure of the com I pany to select the route for the main line If between Grass Creek and this city the provisions of the articles of Incorporation were not made broad enough to take In I the entire system but another subcom pany will take up this work Messrs Cannon and Clavton of the executive committee com-mittee of The Utah Company who left for New York last week on a special business bus-iness trip will return to this city by the first of the coming week and with them will come the engineers who last summer went over the route and laid out the road These expertgswill give their opinions opin-ions upon the best route for the continuation continu-ation of the road and then the further plans of the company will develop It is stated that the visit of Messrs Cannon and Clavton to the east was very successful and should this prove to be the case the construction of the road to Grass Creek and the extension of the Salt t Lake Los Angeles to the coast are matters which will claim the attention of the company at once The promoters of J the great aggregation of enterorises are keeping pretty much in the dark regardIng regard-Ing their future Intentions awaiting the return and official report of Messrs Cannon Can-non and Clayton |
