| Show Internal differences in the b board rd of directors and majority of oC stockholders stockholders stockholders stock stock- I holders of or the Denver Salt Lake railroad are r responsible for the failure failure failure fail fail- ure of the company to construct the road between Craig and Salt Lake through the Uintah basin and according according according accord accord- ing to James A. A l Denver tunnel builder there is a fight between between between be be- tween the Phipps interests interests' in Denver and the Pearson syndicate which had control of the road prior to the death of Dr F. F S. S Pearson on the Lusi Lusi- tania Mr A. A l who ho has the contract contract contract con con- tract for the James peak tunnel when it is built and for all other tunnels on the road asserted yesterday yesterday yesterday yester yester- day that if Lawrence Phipps of Denver Denver Denver Den Den- ver wins his fight for the presidency of the road the construction of the road west from Craig will be started started started start start- ed next spring Mr l returned returned returned re re- re- re turned from Denver yesterday where he was in conference with directors directors directors tors of the company is Assured The money for th the new road will willbe willbe be furnished by the Henry Phipps estate of Pittsburgh which is heavily ly interested in the United States Steel corporation and in a number of other steel and iron companies in inthe inthe inthe the Pittsburgh district It is said that with in cash assured assured assured assur assur- ed the Denver Salt Lake will be beable beable beable able to raise the remainder of the amount necessary to build the road At the meeting of the board of I directors in Denver this month an effort will be made to oust Walter I Pearson as chairman of the board of directors and to elect Mr Phipps president and give him him- such power as usually goes to lo the chairman of a directorate There seems to b bg every confidence confidence confidence dence in the ability of Mr Phipps to to- raise the money if it he heis is elected president said Mr McIllwee Arrangements Arrangements Arrangements Ar have already be been n entered entered entered en en- into so I am informed whereby whereby where where- by the Phipps estate in Pittsburgh will furnish ari and Mr Phipps has his lines out to get the remainder If the road could get the first sum then raising the rest would be easy PJ Phipps Victory Seen Th There re is a feeling among those who are interested in the matter in Denver that Mr 1 Phipps will win his fight for control The rhe Denver people people people peo peo- claim that the Pearson syndicate syndicate syndicate syndi syndi- cate and Newman n Erb former president president dent were trying to unload the road instead of building it to complo comple tion It is asserted by the Denver di directors dl- dl rectors that c construction work will start in the spring if the internal affairs can bo titi adjusted I look to see the Denver S lt Lake be become ome most active in m in construction If It Mr 1 Phipps Is elected president There is no doubt but that there lere will be something doing in this matter within within with with- in thirty days u o |
