Rensselaer Semi-Weekly Republican, Volume 39, Number 103, Rensselaer, Jasper County, 3 September 1907 — Status Of Gifford Road Sale. [ARTICLE]

Status Of Gifford Road Sale.

« “ r Wnen yon see it in The Republican that the sale of the Gifford railroad has been con&nmmated, you will know it is so, but not till then. Thus it has been widely published this week that the long pending sale has been finally and fully closed up. This is a premature statement, altho the negotiations have been moving aloDg smoothly towards that end since our last authoritative statement of the situation. As we stated then, there was every prospect that the sale would finally be effected, so now it can be added that another important step has been taken, but not a finally conclusive one. The New York Central, or Vanderbilt, interests have long held an optio n on the road and a number of officials of the Central are also on the board of directors of the Gifford road, having been elected at the annual meeting last year. The annual meeting this year, held early in July, was postponed until the 23rd of October, by which date, as we stated at the time, it was thought the sale would finally be closed up. The important step above referred to, is the acceptance by the Central’s agents, of Mr. Gifford’s terms for the sale of the road. This acceptance however is not finally binding until submitted •to the Vanderbilts themselves, and finally approved by them. There is every reason to believe that their approv al will be given, but until it is the sale is not an absolute certainty.