New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-16
THE BIG FOUR ABSORBED.
CONSOLIDATED WITH THE VANDERBILT
RAILROADS

MEETINGS IN CLEVELAND AND INDIANAPOLIS
TO RATIFY THE PLAN-D1RECroRs CHOSEN
HOW TEE NEW STOCK WILL BE ISSUED.
lEY TELEGRAPH TO TIE TRrBUSEl
Indianapolis, May l5.-The stockholders OF the
Cleveland, Columbus, Cincinnati and indianapolis,
the indianapolis and ST. Louis, and the Gin
cinnati, indianapolis, ST Louis and Chicago lines
met here to-day 70 vote upon the question Of
the consolidation Of their interests THIS Is the
com pletion OF scheme that has been debated for
four or Ave years. The new company will bs
the Cleveland, Cincinnati, ST. Louis and Chicago.
II will have s30,o00,0 900 Of stock, and the pro-
portionate share which each intrest will have
has all been arranged BY the terms OF the
consolidation there will be fifteen directors in
the new organization. Seven OF these must live in
NeS-York, and they are Cornelius and William
X. Vanderbilt, Chauncey NJ. Depew, J. Perpont
Morgan, George Bliss, II. Mex Twombly, and
james ID. Laying. Eight must live in Ohio, and
they are ). j. Broadwell, Alexander Mcdonald,
Orand Smith, NJ h. ingalls,, W. T.. Anderson, Of
Cincinnati; Amos Townsend and Truman i.
Handy, Of Cleveland, and Benjamin S. Brown OF
Columbus; NJ l.. Ingalls,, Of Cincinnati, will be the
president, and J. ID. Laying, OF New-York, the
Woe president. For each share Of the present
Big Four stock shall DO issued one share Of
preferred stock in the consolidated company, and
80 per cent OF one share Of common stock For
Bee Line stock, common consolidated company
stock shall be issued 10 the rate Of 81 Is l-3 for
81. For the entire stock OF the indianapolis
and ST. Louis, 5000 shares OF consolidated stock
shall DC issued. The Bee Line stockholders 8ftcE
an early morning meeting IN Cleveland, came 20
indianapolis special train, and late this
afternoon went through the same proceedings
that recorded earlier in Cleveland Of
tue so, 900 Shares ia g33 were voted, All being
IN favor Of consolidation. No negative woes
were cast. The indianapolis and ST. Louis stock
amounting 10 100000, WAS all voted by proxy
in favor OF the proposed move. The representa-
ton Of stockholders at the Cincinnati, Indiana
polls, ST. Louis and Chicago meeting was the
largest in the history OF the company. President
ingalls,, with several other heavy stockholders
and found the local stockholders awaiting them.
Without delay they went 20 business with closed
doors. II was found that OF the 100, 900 shares
s22l7 were represented. Two hundred and
,cNcuty-two stockholders were in the meeting in
person, or by proxy, chiefly by proxy. This Was
- PER cent OF the entire numbcr Of the stock
holders OF tho com pnny. The vote on the rntiica-
ton Of the consolidation Of the properties WINS
unanimously favorable June "a was fixed upon
ss the datr OF the first joint meeting Of the
directors OF both companies. Then the matter
will be rs nearly completed a. is possible without
the presence Of Mr.. Vanderbilt, who will not
return from Europe until about the LIST OF Au gust
President Ingnlls said that he did not attach
much weight 10 the OBJ lect'ons nised by Judge
Burke in his suit TO enluin the consolidation.