New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-03-13
SALE OF c., B. q n. STOCh'
A MAJORITY QUIETLY PURCHASED By The
QUINCY ROAD.
Outside HOLDERS CAN SELL AT $40 shARL
ONE OF THE NORTHWESTERN RATE
CUTTER, DISPOSED or.

pos,o, March 1.-THE Chicago Burlington and
.-.norn Railroad Company issue, the following cir
,uar 10 tine stockholders " An offer has been m"o'
to nurcha~c the stock Of this company III ff' pr
share in the interest Of the Chicago, Burlington am
Quincy comnanv In view of all the questions al
fcrtng this road it is considered by the directors 10 90
for tbc interest Of the stockholders to So All inc
stockholders desiring to avail themselves OF 1lc o"V'
must deliver their certificates to Messrs. Lee his
cipson 4 Co.. Of Boston, within sixty DAYS from date
after they have been countcrsigned "a thc omcr
Of the company. Payments arc to be maze upo" '''
delivery of certificates presented above on ana ater
March 20 1890 The directors have agreed to turn III
their own stock at the same price, ana rccohWehh
other stockholders To- do the same
soon after . p. m. Mcs'rs. Lee. lllgginSon " 20
bought majority Of the stock Of the Chicago, Bur
lncton and Northern the above terms. I'm
mcdatev after the transaction the price oi 'h'a1"'
burlington and Northern stock at the Boston Stock
ENchange up 81 40. 50 that nobohy mas sc'hrcl
any advantage In the market from early knowledge
Of tho trade The purchase Is the result oi thr'o
years negotiations. The announcement ~ the pur
chase caused sensation. For several weeks htti'
bo. bccn said about the relations between tic Two
roads although weeks ago rumors that The ChcaHo'
burlington and Quincy would eventually an"pt ~
Child we're the subject Of gossip In the sii'c'' Inv
Chicago burlington and Quincy had long owned
about 30 coo shares Of The Northern and Le' llS|n
son & Co. had quietly P"''"''N" "
additional stock necessary to sccufc con
troll Of the road that when the circular
wa issued today the Chicago Burlington ana Vn'h'y
was already I'm control Of affairs. THE Journal
say. that fact that Chicago Burlington ana quincy
had purchased controlling interest In tnc 90, f1r
n 40 advanced the latter stock Z" 10 gan ~ "a,
the day while Chicago, Burlington ana quincy AZ
yanrcd . / 10 10, l.. s,.orahi,
This Transaction IS likely 70 have t tV"ran'
cNce upon the railroad situation IN iue Nyio"Nr,,
nnninaly. at least: but at the >ame time 'ne 'iE,
viii their cheap Inc, 81 transportation al" .ir
canadian routcs remain 10 vcN the roli, t'tt na,
MOI Vet become used t. the low rate Al WNrl l"7,
hres can handle tlsihc. Again. there j. me ,cul
Icfween Chicago and Duluth stu alive: Inc pn.'..i
T. a sad blow n the expectations OF operators ~
purchased the stock AZ 80 % 80 ana nave i'In y
inr some years I'm the confident expectation tial
/ chiraco Harrington and Quincy "ouh pfsit,' III,
stock a profit t. the holder ~ me ".,s.''ii '
~ ,rc Chicacn. Burlington and Northern. me "'tr,
Ir-uncfon and Culnc, held thirty per rent |nii'
Tie balance IA, been in tho hand, 81 W, publ
I'm -, lie stock selling around 90" VII, - 10"
water mark. bui The next year y ref l"i -, " n
rrnor, Tat tho CHICAGO Darlington ana Qnlhcy W.ur
lie competed = take II - the owncia pslt; L,.'L.
the price ~ IN" stock '''iliD" I" "'' wa" -
outlook for the future.