| Show WORE ORE DETAILS ON SAN PEDRO DEAL 1 Clause Gl u e Is Made That Each Sido Retains 50 Per er Cent CentY N Y STATEMENT Sl n how thi Che or of are re fol le In lit If r and isid Joined hilled i Now that nil the flurry II Is ov over r re reo the till coit San Ban an ledro Idro unit and Oregon Oreg Lino ll 1 al 1 nn the Ilie at nf I of life ife t bank into Hun their i ordinary are beginning to com on t to the ho tace which were not obtainable In tho the hit Oret hurrah that at attended attended tended the he announcement The d deal dealVa al alvo vo Va wot of ot course BO RO largo large a u ono one that the details arc aro very vet closely guard but bul enough hue has percolated through tile the reserve t of ot tho the high contracting to t Justify the printing ot of the tollow Ing It i may bo be set act down lown as ns a certain that In spite of the that chIlt have hav been placed upon ulon the browe of at various people ople concerned the Che Short Line has hea parted with nothing for tO which It Jill did not obtain full tull quid pro ro quo in fart fact guetta might bo lIo that hO he Inside of ot tho thu Short Line hooks books d bo be It would be found Jie tho thu part of ot the which they i ye 0 Horn Hold has ban run at 11 t a 1 steady lam lolS ioe fr t r years It U is III l told auW old also that th the Short hort Line has illS parted with whit nothing of UK Ilai it privilege to tn Snit Salt Lake City but tint t through the tho whole deal it hue has kept some J kind of a n strong Hiring attached to lt jIM jIMe e to the load fond reaching from Snit Salt SaltI OIt I Lake Litke as ne far fr us Its Bandy Homly South of ot San Ban Bandy dy If the anle baa hn beon absolute The tar ter rights and depot de Ot privileges will willbo willbo willI I bo be shared d between un the two loads under urner i a reciprocal arrangement subject how however howo ever to o the powerful airing above re ra rat t to 10 t J Another query qU ry that has excited n II ft sr at deal of at comment among those who wo know k how railroads are financed hns ht been heen ds to 10 how the cho Short hort Line Lint Iris h mortgaged ll under tinder various bond Issues r could nell a part vart l of ot lIe 18 Is system without J consulting Its Ita bondholders bondholder und and how I 1 rights of or thouc bondholders er could t bo be o protected In a II sale of ot this title sort The rue answer furnished la is that the various I bondholders are represented by a trus trul I t h e who was wan fully lully aware of tho ho tram trant action and that tho the portion of tho the road eold Is h simply handed over aver to the new company compan subject to tho existing In debt s upon It II just as na a mortgaged hoUse bouse Is a transferred front from one owner id tj another the tho mortgage mal following the Uie property proP The talk about the amount of actual cash that changed d hali In he trans transIt It has been x It ItI I In JR said In fuel feet td t by e well Informed I to have been beon a 4 comparatively mount amount Thu Tho plan followed was J je via I Ili common li tense business one of at hII the two parties partes th the Short Line un in n cm one on onside side nail and tho the San Ban an Pedro ledro on tN the t 1 other enter Into a merger and form a II new now nowr r tH lle s Ban Pedro putting In nil ft oB Angeles end at a certain figure cl tim Une putting in irI fitall all oIl Its nasals south of ot unit Salt Lake Inke at It an un another another other figure and stock or bonds or lIr Ic both being IlI to tho the two parties nt nl atthe ithe the respective n upon The precise are oro not obtainable but butwell buti i well Vell founded report ort states dOtes that thit each sides Interest reached Men coch owning exactly SO tO per pel cent of the new now newe I concern e cern and an l each ench contributing Its 1111 quota for Cor or th the tM completion of at the road Further light upon the subject Is shod shell shellby by a 1 recent article In the New Now York Herald which in Is us pa follow Senator Clarks purchase of ot the Ore arc Oregon gon gait Short Line extension hag haa hn t tit the complete readjustment of If th tie funded debt of at the San Ban Pedro Los An Ani n neles i teles Ecles eles and Salt Bolt I lAke ake Directors of Dr the thu company have a it stew new i 1 general mortgage bond Issue of at DUlY mYO per her cent gold bonds 1111 The date Of pt maturity antI and other details of the la is laB issue II sue B have not been determined About U Will be ie Issued in tn the near fu ru u lure ture to provide toJ for tor the I ur huge of ot th the h Oregon froh Salt SUit Lake Lako City I i to tn CallI Nt N Nev end nna to complete tho the tholine thelIne line from Across the desert to with the now San o od dro d mid road The rise remaining will II 1 I rIe ved for future Issuance fur tor 1 and nl betterment Th rh Union Pacific through the Ore Im allon m VW ba he paid 1111 partly r In and purl I v In It U in Is I un understood det so o 1111 the Union Pacific will hM have ve n a wiy NY substantial voice olce In lit the th af ar affair fair tiis of 1110 II Pedro Pedio flue rh original tan pan n tailed culled for a 1 Ue of or 4 UT ler 1 er cf nt bonds bunds and a tock stock lieu wu or ut 80 Ito far tar M as Its ti ta w will UI i the he tic nto Issue of 51 s swill will bo lie substituted fur for tho the 4 und and the then n pew v ut aUe will b J a guraL lien upon t tie the whole property Clark expect expects that the entire lint line shout about JIG H miles mile will be in full rull oper operation tion within two years He Ito asserts that ftp thi th line lino will II preserve It Its Identity In the Went toN althoUgh It will be he r i r t In III With lIh the Hantman system l m mAn An II statement or of the of or the hi f fur tor or orl I n l leli il eys y A AS Hi Hito S r n W A lark Hark Tins pt ut for t sh hit n Tos Io II IMS la f d LI i g tiiA Igon to Id d com company pany peny J It I w JO of in total tola to F V va UA toll cut lut ute find nd Wa 1111 Ii a ii 99 00 year veer tease lease of 0 th Ii I In let Salt aIt Lake Lak City Ity In tUon with lIh the Oregon Oroon Short tin TW TM property will IlI III lie be transform an as tIlI tIc ar Directors DIrer ora meet this have h t been en held heM and contracts contract ap p |
