Salt Lake Tribune | 1902-01-01 | Page 69 | New California Deal

NEW CALIFORNIA DEAL S North Pacific Coast Railway Bought by Syndicate t V TO DEVELOP A BIG SYSTEM J I It Has Been Said That the Line Is to j V Bo Gradually Extended Over the V Sierra Nevada Mountains to a Connection L nection With tho San Pedro Hand Heavy Capitalists Are Behind tho Project Harrlmnn nnd Gould Buy V Kansas City Suburban Belt Line Railroad Notes V San Francisco Dec nThe North Pacific Coast railway will be purchased by Colgate the New York soap manufacturer manu-facturer John Martin of this city and V 11 group of Eastern capitalists The price asked by tho railroad Is 52000000 and It Is said that by the middle ot the month the Eastern men will take control con-trol of the road 4 Capt Payson who 1s one of the stockholders stock-holders and directors of the North Pacific Pa-cific Coast said S All I can say Is that Colgate and Martin and Eastern capitalists have been examining the road with the view I of purchasing but thoy have secured V no ojtlon on the road Whether these men will buy the property I am unablo to say V There are four men In the proposed dcaJ Colgate and Childs both Eastern T V men and Eugene Do Sabla and John I V > rartln All four arc Interested In the S recentlyorganized California Gas and Electric company The Tribune has heard that this syndicate syn-dicate will not only buy and build up B system of electric roads In and around San Francisco but there IB a movement move-ment on foot to buy several of the shorter steam roads and extend them to make another line to San Francisco It wan stated also that the syndicate would gradually work its way eastward V lover the Sierra Nevada mountains and V eventually effect a connection with the San Pedro gslom For these reasons the probable purchase of the North V V Pacific Coast which has a bay entrance I to San Francisco may yet prove of u great Jnterst to Salt Lakers