Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1889-05-16
RAlLRuAD MOVEMENTS.
The so. Stockholders Meeting
sale of Some wabash Lines.

Sake Oh SOUne
CHICAGO, May 15.-The annual meet
ing of the stockholders Of the Chicago,
Burlington and Quincy Railroad was
held in this city this morning, 430, 600
shares being represented. The President
and the Board of Directors were unani-
mously reelected.
Richard Olney, of Boston, was elected
in place of Sidney Bartlett, deceased.
There were 100000 shares of stocks
represented, and the meeting was en-
tirely harmonious. The officers for the
ensuing year will be elected at the next
meeting OF the directors in Boston.
The lines of the Wabash Railway east
of the Mississippi river were sold before
Judges Gresham and jackson to Messrs.
Ashley and JOY, representing so per
cent. of the bonds and acting in the
interest of the Wabash and Western
Purchasing Committee, for $15, $50, 900.
The headquarters are at st. Louis.
The amount received secures the first
and second mortgages in Ohio, and the
first on all the rest of the Road. Said
President Ashley of the Wabash
Western: 1--WE will consolidate the
Wabash Railroad and Wabash Western
by August LIST. We will probably call
the complete system the Wabash Rail.
road Company. We have issued and
sold $34 600, 900, fifty years, per cent.
bonds on the consolidated system. OF
this, we will use $11 ,741,0 900 to pay
first mortgages OF the Wabash Western.
we will also issue second mortgage bonds
of $4,000 900 on the lines east OF the
Mississippi, making $3.50, 900, 900 on these
lines. There are besides, on the lines
east of the Mississippi, $50. 900 600 bonds
depending on income, and $52, OOO, 900
stock. The minority bondholdera made
a great mistake in not accepting per
cent. bonds for their per cents, instead
of compelling US to buy them out. The
new bonds are already at a premium oil
IL per cent, and think will go between
5 and 10. They not only lost money by
their refusal, but compelled us to pay
about $500, 600 more than it would otner.
wise have cost u.s."
PARSONS, Kan, May 15.-The annual
meeting of the stockholders of the Mis-
souri,, Kansas and Texas Railroad Com.
pany was held in this city to-day. Three
hundred and thirty-one thousand, six
hundred and sixty-two shares of stock
were represented. H. X. Emos, chair.
man of the Executive Committee, made
q report of the doings of said committee
during the year, and recommending
that, inasmuch as the road could not
earn more than 100000 per annum
over and above operating expenses, that
the bond and stockholders be made &C
quainted with that fact, with a view
of scaling down the indebtedness SC
as to come within, or near, that
limit. The following named gentlemen
were elected directors for the ensuing
year: Rudolph X, Martinson, Henry X
Enos, VIM. Dowd, E. Ellery Anderson
VIM. Bond, Simon Storms, Jacob Den.
euiville, Samuel Eiere, Geo. V. Forrest
Herman R. Baltzer. Maynard @. Sloane
of New York; Harrison Cross, Emporia
Kansas; Benjamin P. Mcdonald, Fort
Scott. Kan; Lee Clark, Parsons, Kan.
James G. Thompson, Sedalia, Mo-, anG
John Hancock, Austin, Texas.
A similar meeting was held at Indian
apoiis, day, Of the stockholders CT the
Cincinnati, Indianapolis and Chicago
(Big Four, and of the Indianapolis and
st. Louis line, at which the majority oil
the shares were also voted in favor OIL
consolidation.