OCR Text |
Show ST. PAUL WILL BID TO COAST Board Formally Authorizes Building Extension to Seattle and Tacoma. ESTIMATED COST WILL BE AB01 T FIFTY MILLIONS Will Touch Butte on the Way, and Bnild Branch to ( oeur d'Alenes. NEW VOrtK, Nov. 2f.-At a special meeting of directors of the Chicago. Milwaukee Mil-waukee & St. Paul Railroad company, the board formally authorized the building of the St. Paul extension to tho Paclllc coast, from Evarts, S D., to Seattle and Tacoma. It was Specified In the official announcement that the work of construction con-struction Is to begin forthwith. It Is estimated that the cost will be about 15".-.... 15".-.... i.. i Won't Increase Capital Stock. It was announced at tho close of the meeting that as yet no plans had been determined on for lln'iticlng the project. This matter in all probarlllty will ho de-dded de-dded upon at a meeting of the executive ! committee, to he held tomorrow. It Is i understood that an issue of convertible ! bonds has been under consideration, but that there Is no likelihood of an Increase In the road's capital stock, about J2S,-000.000 J2S,-000.000 of which Is still unissued. Preparations already have been mado for tne lneorpoatlon of a new railway j company from Evarts. which, however, will be entirely financed by the St Paul. Will Run to Butte. While all the details of the route have not been decided on, the line will run to-xvunl to-xvunl the Rocky mountains, west bv north I of west, to Butte. Thence It will be extended westerly, crowing the Bitter Boot mountains, through Loin pass and ultimately connecting with Wallula, Wash., the terminus of the recently incorporated in-corporated Pacific railroad, which runs to that point from Seattle. Seek Outlet nt Tacoma. The St. Taul will also MSlC an outlet nt Tacoma, nnd will touch Helena. Spokane Spo-kane and Portluud. The work of con- Structlon will be begun simultaneously at S. ittle, on the Faciil. road. and at I Evarts The line further south, which Is , In the course of construction from Chamberlain, Cham-berlain, S. D. to Rapid citv. In the I Black Hills, a SOO-mllo project, will also be connected at the northwest ext.'n Ion branch line. Branch to Coeur d'Alcne. It Is probable that branch lines will x- tend to the Coeur d'AIenS COtintry, cat 1 of Spokane, fpr tha mining and Umber business of that section. |