Show SALEOF O THE SHORT LINE The System Finally Segregated Segre-gated From the Union Pacific BOUGHT IN FOR r I OVER SEVEN MILLIONS The Roads Embrace Over Four a teen Hundred Miles I Samuel Carr Walter G Oakman and Henry Y Nichols Bought in the PropertyThe Proceedings Cut and Dried and There Was No Sign of Opposition Certified Checks For a Hundred and Fifty Thousand PassedS W Eccles Formally AppointedSome Interesting Inter-esting and Important Information Informa-tion Concerning the New Organization Organ-ization Samuel Carr Walter G Oakman and Henry Y Nichols paid 7185500 in three different installments for the Oregpn I Short Line Utah Northern railway I I I before the hour of noon yesterday It i was a large amount of business to I transact that early in the day but had the auction been nothing but a secondhand a second-hand furniture sale it could not have Greer and remarked cheerily My only opposition Greer Out in the centre of the circle stood the short Napoleonic figure of Henry C Nichols in a smart impersonation of the little corporal His arms were folded across his breast and not a glint of humor crossed the set features A few other Union Pacific officials who had crawled out of bed at an earlY r breakfast hour hung about in the ofliing of the crowd At 10 oclock the chimes from the tower played an overture over-ture for a very tall portly gentleman in iron gray seriousness who mounted the stone steps threw up his head got a full breath and squared his shoulders for some mighty effort He held stiffly before him in both hands for all the world like a concert singer a roll of manuscript The silence dropping over the assemblage reminded one of a moment mo-ment when an undertaker is about to remove the top of the casket for a last t a I W H BANCROFT General Manager of the New System view of the dead The crowd shifted its numerous feet and one or two hands instinctively touched hat brims In a solemn voice and with impressive emphasis Commissioner Cleland read I the death warrant of the condemned that is to say he went through the whole decree of the circuit courts of five states without apparently taking a breath Then he raised his eves from the last line and said Now by the powers vested in me as special commissioner I offer this entire property prop-erty for public sale subject to the herein mentioned mortgages What am I offered for the property At this cue the motionless figure of 4 t 1P4 sILvER Bod r c 4 4 t N I t = I N c i r g tflN lfll rf tfI4 I 4 Y J U < o I 1 D < J z jill J I G x J c 0N m I I I7i Jj o 1 q 2 0 Ji 2 a t a a 1 I c I cI t 1 2 I I 171 I 1 L i 11A f D 9 I cJ i JA5 I LJ i I a 1 A ro a a ror3 II I CJ t I FR1SCO I I I it a jI I RLD FL I SHOWING THE LINES SEGREGAT ED FROM THE U P SYSTEM begged more incident As at show it was a dismal failure There was a strained absence of flourishes and loud declamation that tinges the common I place auction with some degree of the i dramatic I CUT AND DRIED PROGRAMME I Cut and dried and hamstrung might express the proceedings that occupied I oc-cupied three hours at the south end of the county building and the same I end of the Union Pacific Dassenser depot Neither to the special commissioner commis-sioner nor the special master were competent to explain why that particular particu-lar point of the compass was selected J to sell out a railroad It was suggested I sug-gested by 31 r Carr in his pleasant l II I C I II I I i I I I v II I I I J S W ECCLES Appointed General Freight Agent c vein that perhaps the United States officials of-ficials got over in that vicinity to I catch the sun I BID 3447500 d Everything was propitious and nothing I 4L noth-ing more so than the smile of Mr Carr as he faced Commissioner Cleland in the brisk morning air at the county I building Not more than 60 persons i t were in attendance and 10 of the num j tt her were precious types of the small American boy The crowd of youngsters young-sters massed themselves about Chairman i Chair-man Carr like rank weeds clothing a t morning glory for in his urbanity and I t Pristine cleanliness the astute chairman was a refreshing sight to behold A c brilliant bouttomere glittered in his j I lapel Patttng the boys on their heads I t he laughed across the space formed f by the ring of spectators at Lawrence I j I t i < ii k f i I Counsel Nichols relaxed He stepped forward three precise paces brought I his hand to his breast inserted it in a II pocket and brought forth a check I making the following statement On behalf of Walter G Oakman Samuel Carr and Henry G Nichols the purchasing committee of the reorganization re-organization committee of the Oregon Short Line Utah Northern railway I bid 5447500 and accompany the bid I with a certified check for 100000 given by the Old Colony Trust company on the National Bank of Commerce Boston Bos-ton The check for 100000 passed from the hands of Nichols to those of the commissioner and a gentle sigh escaped es-caped from the onlookers Chairman Carr stepped forward and congratulated Commissioner Clelard j on the manner in which he had acquitted I quitted himself and the commissioner returned the felicitation by congratulating I congratu-lating both Chairman Carr and Counsel Coun-sel Nichols on the smoothness that had I characterized the programme Then everybody shook hands with everybody else because the fashion had been set and the interested parties climbed aboard the car for the Union Pacific depot Other officials straggled along on foot in the same direction Frederick I Freder-ick R Coudert and John W Doane I walked all the way from the hotel to the depot otTHE THE SECOND SALE At this point there was a larger throng of those who wanted to know I how a railroad was sold Just across > the tracks from the depot PresidentS President-S H H Clarks elegant special train was standing but he did not show his countenance during the whole morn ins1 Special Master l in Chancery W D Cornish assumed the auctioneers gavel at 11 oclock He is a man who has been frequently mistaken for General I Wade Hampton by reason of his whiskers whis-kers The special master adjusted his I eye glasses and took a station at the end of the depot The ring was larger than that at the county building and not so funereal The same gamins were present and hugged the flanks of Chairman Carr Counsel Nichols again fixed himself in the Austerlitz attitude and the second act was rung up Master Cornish was in no hurry He rather called out the legal phrases than spoke them Squinting one eye through his glasses he asked what ire was offered for the Utah Southern property described and subject to the general mortgage He looked far over the short head of Counsel Nichol and seemingly smiled into President Clarks coach He happened to look down and Nichols was saying On behalf of Walter G Oakman Samuel Carr and Continued on Page 7 L1 > d i + > M SALE OF THE THESHORT SHORT LINE Continued from Page 1 Henry G Nichols on behalf of the I reorganization committee I bid 763 000 and accompanying the same by a certified check of 50000 on the National Na-tional Bank of I Commerce Boston Master Cornish accepted the paper More congratulations followed Receivers Re-ceivers Doane and Coudert grasped Chairman Carrs hand and the whole party went over to see a person in the special train while the spectators diverted di-verted themselves until 12 oclock by laughing at a traveling Uncle Toms Cabin company which started with a blare from another special car THE LAST SALE At noon the master in chancery opened the third sale under the Utah Southern extension mortgage The same tone of voice and the same attitudes atti-tudes prevailed Counsel Nichols bid 975000 and proffered his check of 50 000 which was accepted According to the stipulation 6E the decree in the I matter of the Utah general mortgage bond the bid could not fall below 600000 and the successful one of the reorganization included the accumulated accumu-lated interest on the bonds In the Utah Southern extension mortgage bonds the required bid was 900000 and that of the committee included in-cluded as before the interest on the total sum The total amount in certi fed checks now in the > hands of the special commissioner and the special master is 200000 all issued by the Old Colony Trust company on the National Na-tional Bank of Commerce Boston The i i special agents of the circuit courts j will now make their official renorts of i the sale for confirmation after which I 1 being done the new company may enter I en-ter into full possession of the acquired I property placing in the hands of the i government present bonds sufficient to insure the payment of 57185500 the price which the United States ha accepted ac-cepted in lieu of the Short Line I WILL REMAIN UNTIL TUESDAY Chairman Carr and Counsel Nichols will remain here until next Tuesday to I complete some legal business in connection I con-nection with the transfer The other j I members of the Union Pacific party i all left the city last evening for Denver Den-ver where the annual meeting of the I receivers will be concluded Lawrence Greer accompanied them S W ECCLES APPOINTED Almost immediately after the last of the three sales S W Eccles was formally form-ally appointed general traffic manager I of the new system as predicted for I some time by The Herald Other than I the selection of Mr Bancroft as general gen-eral manager and Mr Eccles for the I above mentioned position nothing else I will be done in the matter of appoint ments until after the regular incorporation I i incorpo-ration of the new company under the laws of the state most favorable to j the new line l being the vogue to I I allow a general manager and traffic j I manager to arrange their own staffs this custom will not be departed from I in the case of Bancroft and Eccles so that it is quite probable most of the 1 employees now under these officials will stand a good opportunity I THE FREIGHT AND PASSENGER AGENTS There is a strong probability that neither a general passenger agent nora I nor-a general freight agent will be named I the creation of such positions not being be-ing in favor with the incoming administration admin-istration The duties of these offices will be a direct portion of the general traffic managers department without title Another matter of considerable interest is the information that Samuel Sam-uel Carr will become the president of the new company and Henry C Nichols Nich-ols general solicitor At an early date I the division of rolling stock belonging belong-ing to the Union Pacific proper and the 1 Oregon Short Line will be made with I all other property accruing to the new I organization Meantime the business will go on under the Union Pacific management probably for CO or even I 90 days when General Manager Ban crof will quietly resign rpm his present pres-ent position and resume business without with-out delay UNION PACIFIC CHANGES Nothing definite could gathered of I Union Pacific changes made necessary I by the Short Line sale I is understood under-stood upon good authority that Superintendent Su-perintendent Deuel of the Colorado division j I di-vision will have added to his jurisdiction jurisdic-tion the segregated stretch of the I Union Pacific from Cheyenne to Ogden 1 Og-den by way of Green River and D general I gen-eral office of the olri system will be continued in Salt Lake THE MILEAGE CONVEYED The total mileage conveyed in yesterdays terdays sale was 14212 distributed in the following manner Oregon Short Line proper from Granger to Huntington Hunting-ton Utah Northern from Ogden to Silver Bow Utah Southern from Ogden Og-den to Juab Utah Southern Extension from Juab to Frisco The distribution of the Oregon Short Line and Utah I Northern mileage in Utah embraces Ogden to Frisco 2747 miles Syracuse Junction to Syracuse 52 miles Salt Lake City to Terminus 37 miles Salt air Junction to Saltair 25 miles Lehi Junction to Tintic 53 3 miles Ironton to North Spy mine 6S miles Mammoth I Mam-moth Junction to Eureka 32 miles I giving a total of 3S2S miles In Idaho the mileage is thus distributed Granger I I Gran-ger to Huntington 5413 miles Shoshone I Sho-shone to Ketchum 695 miles Nampa to Boise City 195 miles Ogden to Mc Cammon 1106 miles Cache Junction to Preston 12 miles Pocatello to Silver Bow 2555 miles a total in the Idaho division of 10334 miles The total mortgage bonds encumbering encumber-ing the Short Line betore its segregation segrega-tion from the Union Pacific system was 15000000 Now it is relieved of this debt by the purchase of the line by the bondholding interests which merely place in the hands of the government gov-ernment bonds to the amount of the purchase price The intrinsic value of the property devoid of debt is about 12500000 |