Long-Bell Pays Bonds Belore MaturitySells Railroad

Kansas City, Mo., Oct. 27.-The Long-Bell Lumber Co.'s gold note issue of three and one-fourth million dollars, maturing December 1, which was paid off recently, several weeks before maturity, came about through the sale of the Longview railroad to a syndicate of Northwest railroads at a price of four and one-fourth million dollars. This purchase by the Union Pacific, Great Northern, Northern Pacific and Milwaukee rounds out a period in the development of Longview, Wash.

It is nearly two years since the sale of the railroad lvas agreed upon but the approval of the Interstate Commerce Commission had to be obtained, which was preceded by long formal hearings, in Longview and Washington. Permission was finally granted by the Commission and only a few details now remain before formal transfer is made to the purchasers.

The railroad was built in 1924 by the promoters of Long- view. A city depot was supplied, together with rail terminals and a complete 3o-mile railroad. When the city was developed the railroads were unwilling to risk any money laying out track in what was then apple orchards and open fields, nor to build a logging line connecting the Longview mills, then only projected with the actual logging center of the Long-Bell company at Ryderwood, 30 miles up the Cowlitz river.

When the success of Longview became assured and it was destined to become an important freight originating point, with the Long-Bell operations augmented by mills erected by the Weyerhaeuser Timber Co. and other independent companies, then the railroads were anxious and ready to take over the transportation work.

Consequent negotiations resulted in the recent sale and the maturing of gold note issue.