New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-11-25
RAILROAD INTERESTS.
ACTIVITY IN UNLISTED srocKs.

feature In the dealings In the unlisted depsFos
nent OF the Stock Exchange yesterday tho stooG
Of the Chicago and Indiana Coal Railway Company.
ihe common opened ut 401-4 and rose 10 Al
closing at 40 12, and the preferred sold from 80 IL
10 80. Tho company has made application TO tn
ock Exchange to have ts stocks placed on the re0-
liar list but in authorization VI action which In t.
eguar course Of events cannot be taken within tvU
veeks the dealings In tho unlisted department wss9
egun The road extends frori tie Brazil coal feId1
n Indiana TO Fair Oaks. where connection Ia mada
1t present with the Louisville. New Albany and Chi
ago road for Chicago. The company owns M.
lority interest IN the Brazil Block Coal Companys
which owns and controls three fcurths OF the pro-
duction OF the Brazil mines. Tho road Is being En-
tended from Fair Oaks To Ia Crosse where conDectto6
will be made with the Oh .cago and West Michisaa
road which all running East from CD
cago The share capital OF the company n
100000, Of which 81 100000 is preferred IstocH
Untitled to PER cent non cumulative dividends. 1h
common stock Is entitled 20 the balance Of tbs ne1
earnings. whatever they may be. Additional stoca
may be issued only on newly acquired road TO a
stock and $4,000 mile OF common stock. 1h4
unded debt consists Of first mortgage per cent
D0nds limited to $1S 900 mile.
Tho officers of the company are II; II. Porter. q
hossS formerly President o. the Chicago st. Ps
George 9. Klmban, vice president and general man
orer G Gee e'S1 K RinSa iO Edward
H. billiard, II. A. Gsniner, Robert III. Law an4
Henry sebe 4nn heSs s Bishop and Denama
Brewster Of New York.
PROPOSING A REDUCTION IN FINED CHARCEA
The directors Of the Central Iowa Railway Com.
pany discussing plans for friendly rc0rgsnizs-
ion of the company which has no money in n
reasury TO pay the December interest its bonded
iebt. A. Is. Stickney, It's new president has
made q thorough examination OF it's Affairs and has
communicated the results to the directors in lona
nd careful report. He estimates the cost Of putting
the property into good condition-as good that u
other roads In Iowaat about 81. 900 900. He recon-
pends that the property should be placed at once II
the hands Of receiver, and the company should then
enter upon the work of recognizing the company or
of bringing its fixed charges within it prob
able net income. The plan which President Stick
ney suggests involves the reduction OF Interest Oh
the bonded debt to or per cent, and the issuing Of
preferred stock for that part Of the debt which
Tot be paid without bringing the fixed charges above
he estimated Income. II limits the now bond isstAe
10 SO $50 900. Of which 100000 shall be devoted
no exchange for the outstanding bonds equit-
able basis. This adjustment 1t Is estimated woutS
require the Issue Of 4700O0O preferred stock, "ncA
is to be entitled to 5 per cent dlvfdends InS
80 600 900 bonds intended for improvements. lt 70
proposed to offer to stockholders at par ana 10 those
their present holdings. The rcorganized company,
this plan Is adopted, will have:
Bonded debt - zooaoNoX
Common STOCK ooMoo'.vVSX
Fixed "'''"'s
The Board OF Directors has yet taken no action v
regard to the proposed plan