Show THE COLOR1DO MIDLAND Effect of tIle Santa Fe Receivership 1 On That Roael The announcement that the Sanla Fe had gone into the hands of a receiver re-ceiver was made to Mr Collbran last night at S oclock as he was sitting i n the rotunda of the Brown Palace hotel says the Denver Sun I had anticipated and feared it said Mr Collbran to The Sun reporter but 1 confess I did not expect it quite as soon as this You are the first to break the news to me I hal supposed that Mr Reinhart had perfected per-fected all his financial arrangements so that this could not have happened It is a sad piece of news howe rand r-and is entirely caused by the death I of George C Magoun chairman of the board of directors Mr Magoun death occurred on Wednesday night and while it was expected by the board of directors on account pf the serious nature of his disease it came as a shock to the world at large Mr Magoun was a tower of strength in himself and the directors had absolute abso-lute confidence in his ability as a financier Mr Magoun was a successful success-ful banker in New York and was probably prob-ably the wealthiest of the Santa Fe stockholders Whenever the road was in a tight place in regard to money matters Mr Magoun was both able and willing to step in and help them out Deprived of his counsel and the power of his name a distrust has been created which has resulted in the appointment ap-pointment of a receiver Another cause is the extraordinary cohdition of affairs in New York I suppose not one has any idea of what a disastrous week this has been in this city What effect will this have on Colorado Colo-rado Mr Collbran was asked None whatever The road never was paying better and the best part of the season is to come There is absolutely no cause for alarm in Colorado Colo-rado Everything will go on as usual and there will be no changes made in probability So far this year the road has earned all fixed charges and the earnings for October and Nevember for this year are greatly in excess of Jast They have probably failed to make collections to pay the interest due on January 1 and this has also been an indirect cause The road had 3750000 to pay on the 1st of January Do yqu think it possible Mr Coll bran that the English stockholders of the Colorado Midland will take action similar to that of exGovernor Evans and demand a separate receiver for the Midland Not at all replied Mr Collbran The cases are entirely different The entire stock of the Midland was bought by the Santa Fe road and the English stockholders can do nothing The only redress they can have is to demand a new receiver in case they are dissatisfied dis-satisfied with the one appointed by the court The Santa Fe still has an immense quantity of business on hand Not onetwentieth of the corn crop in Kansas has been moved as yet and I understand that the fruit crop in California Cali-fornia is immense Then there is also the winter wheat crop to be moved in California In fact the managers have looked forward to such an immense increase of business that orders have been given for 100 new locomotives and 3000 cars of all descriptions The usual procedure of receivers on all railroads you will have noticed is to at once perfect the stock and equipment equip-ment of a road I expect that all these orders will be carried out and the road will have its rolling stock greatly improved im-proved and increased The greatest calamity will be in New England where thousands and thousands of dollars have been invested invest-ed in Santa Fe stocks The largest part of the Santa Fe stock was owned in Boston and it will be a very disastrous dis-astrous period for the east All roads will be indirectly affected but the greatest calamity is the lack of confidence confi-dence it will cause Will the Midlapd Terminal be affected af-fected Mr Collbran Not in the least The money for that road has all been subscribed the bonds are placed and the road will go on as usual Wha do you think will be appointed to the receivership Mr Coil bran There will probably be two appointed appoint-ed and possibly three Of course Mr Reinhart will be one He has the confidence of 99 per cent of the stock holders and directors and no one doubts his ability to cope with any emergency Of course I cannot tell who the other one will be but if I were to guess I would say that John J McCook of New York the general counsel of the road would be the other It is possible that the other receiver re-ceiver may be a western man probably prob-ably from Kansas in which state the road has the greatest interests How near Manager Collbran was right is shown by the dispatches One thing I want understood above all othei things concluded Mr Coil bran this has not been caused by any mismanagement It was solely on account of the death of George C Magoun and the failure to meet the interest on the first of the year Railway Xotes The trunk lines carried only 136354 passengers from l trew York to Chicago during the Worlds fair After January 1 tle Gulf Colorado Santa Fe railway will carry clergymen and Sisters ol Charity for half fare The Southern Pacific railway denies that it intends to abate the tramp nuisance by carrying armed men on its freight trains C P Huntington has obtained judgment judg-ment against the Chesapeake Ohio railway for 83000 for money advanced to buy rolling stock |