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Show NEW LINE FOR SOUTHERN UTAH FOLLOWING on the story of the building of the Grand Valley, Colorado River & South Pacific Pa-cific railroad from Colorado to the coast, through southern Utah, an account of which appeared In The Tribune of May 15, there comes an announcement an-nouncement from Denver that the Denver, Den-ver, Lakewood & Golden railroad, of which Samuel Newhouse Is the chief bondholder, and president In Us reorganized reor-ganized shape, 1b to grow up into a trunk lino to the Pacific coast. An appearance of probability is given to the story in that the Denver Post, which is responsible for it, quotes an interview with a bondholder. But it seems rather rash to say that surveys have been already made "almost to the Utah line throughout a country where only four tunnels will be needed to boro the Rockies." The article goes on to say that "this will be a formidable competitor to the Moffat road and those lines reaching Leadvllle from Denver. The line will connect with the Denver & Rio Grande and the Colorado & Southern at Dillon." The following Is the Interview with the prominent bondholder: bond-holder: A reorganization bondholder said this morning: "Tho Farmers' Loan and Trust company had nothing to do with tho sale of the road. It was sold by the bondholders' bond-holders' and stockholders' commltteo for the purposo of getting the road out of tho hands of a lot of mossbacks who bought bonds and stock at a song years ago and nave since refused to put up any money for bottermcnts. Now wo are going to go ahead and mako a railroad of lt Tho futuro policy of the road has already been determined. Wo shall for tho present pres-ent uso electricity from hero to Golden for passenger traffic and steam for freight. "Tho road will be extended to Boulder and Idaho Springs, and later on will be built through to the coast. At Lookout mountain, a mile from Golden, wo will establish a summer resort. I think $75,000 will put tho road In operation to this point. A bridge will bo rebuilt over Clear creek at Golden, which will cost rco.000. and tho repairs on eight miles to TInsdalo will bo inexpensive. Work will begin at once. Bonds Pooled. "Out of a total issue of $627.0)0 of bonds $503,000 havo been pooled In Denver. The total lssuo is placed as follows: $100,000 on the Golden main line, $100,000 on the TInsdalc branch and $07,000 on tho Bar-num Bar-num branch. '"Tho road has earned $100,(00 per year In its recent condition, but this has been eaten up in tho receiver's offlco nnd elsewhere. else-where. Anyway, the stockholders got nothing. Under the reorganization wo hope to pay a dividend, and undoubtedly will. The $50S,0CO pooled bonds are In tho hands of Samuel Newhouse, tho Kountzcs, Dennis Shecdy, C. I. Brown and other representative Denver men who belong to tnc tsoosters ciuo. Looking for Manager. "There Is an item of $15.000duo tho Farmers Loan and Trust company for services, which will be paid, and that will end that connection. The road will be put Into tho hands of experienced railroad rail-road men. Wo expect to get our share of oro traffic and do not fear competition. competi-tion. Mr. Newhouse will bo at tho head of tho board, nnd wo are now looking for a general manager who will put us on a paying basis. Overtures have already al-ready been made to Silas L. Ralncy, a well-known man In Colorado railroad circles, cir-cles, and two Eastern men. "You may say that tho Innocuous desuetude desue-tude days of tho Denver, Longmont & Golden railroad aro In the past. Tho road will bo thoroughly renovated, and wo are going to tho Pacific coast; don't forget lhat." Judge Hallett of tho Federal court this morning approved tho sale made yesterday. |
