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Show tUREKi-PAUSADE ROAD TO BE BUILT BY NEW COMPANY v From information obtainable to date it appears that George Whittell did not act for stockholders of the Eureka Eu-reka Palisade Railroad company wfaea be recently purchased that line from George W. Hrint of tbie eity. Being a stockholder of the company, Mr. Whittell bad tha right to redeem the property which bad beea sold under un-der foreclosure proceedings, and at the time it was presumed that he wai representing rep-resenting other interests in the company. com-pany. It is aow said that the only interest in-terest outside of his own that is io be take in to the reorganisation will be Ogdeo Mills. . One advantage in this procedure is the fact that no further process of law will be required to begin reconstruction reconstruc-tion of the railroad. It was knowa at the time that a number of the old shareholders refused to participate in the redemption of the railroad and tha leuiHentTirttcm of the fompanr. this reason it was believed that the mad would revert to the United Htates Smelting company, which nsea Th line to bring out the ores from its mines at Knreka. Nev. At tha last moment Whittel came forward with M,t99.77. paid the amonnt over to Heinti" and then proceeded to make preparations for placing the property in condition where some return could be had on the large amount of money involved ill this transaction. Both Whittell and Mills have a considerable amount tied up in this property, which waa invested previous pre-vious to the foreclosure proceedings. Whittell la said to have conferred with the United States Hmelting eom-pauy eom-pauy relative to a contract for hauling its ores from Eureka to Palisade. Then be held a conference with the Mille interest in-terest and plans, it ia said, areheing devised for repair to th railroad. A large portion of th line wa washed ' out aver two years ago and sine that time the road bed and rolling stock has depreciated ' to a considerable Client. Cl-ient. The line will hav to be rebuilt for a greater part of th distance, and the mining operator at Eureka are hoping that construction will be started at oaee. It will require several months to complete this work, and it aow looks as though it would be 1st in th fall before the mines in that section would get aa outlet for their ore to a market. Th United Htates company would gladly hav rebuilt the road if It could have obtained possession, aa it ka in the Eureka mines n (In fluxing ore which ia needed fur th Midval furnace. . - i i' |