The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-11-14
ILLINOIS CENTRAL
The Well Known Railroad Will
Increase its Capital.
Ten Millions More of Money Needed
10 Take Up Old Bonds and Pay
for C. & 0.

Every one VINO Is from THE East and all
who faVe travelled are fhmiiGar with the
old illinois Central Railroad-,rhat con-
eervative English company-whose seven
per cent OF its gross earnings debt to
the state of Illinois is paid every year
from it's Chicago suburban business and
will he interested in the following from
the Chicago Tribune:
For the purpose of raising the necessary
funds to meet obligations incurred by the
purchase of Chesapeake, Ohio and South
western securities and for the other gen.
eral purposes of the Illinois Central,
among which are the improvements on
the lake front, the board Of directions Of
that company has just issued a notice to
stock holders recommending that the cap
ital stock OF the company be Increased
from $5O,OOO,OOO to $6O,OOO,OOO. A special
meeting of the stockIhoGders of the Illinois
Central Railroad Company has, therefore,
been called, to be held at it's general Off
ces in Chicago on Tuesday, November
26, 1896, at II o'clock a. m, for the purpose
Of considering and acting upon the recon-
mendations of the directors, set forth In
the following propositions:
That the capital stock of the company
be increased from $50,OO0,OOO to $4,000, 900
y a new issue of 100000 shares of 800
each, and that each stock holder of record
October 49, 1896, shall have the privilege OF
subscribing at par for one of the new
GJIes for every five shares then regis
red in this name provided written notice
OF his intention to take such proportion
OF new shares shall be received by the
co11sany at its office in New York on or
before December 49, 1895. Payment for the
new shares to be made as follows: Ten
VArAA ls.Aaa r.
Is per cent on December 81, 1896; 25 per
cent on January 81, 1896; Is per cent on
February 2S, 1885, and the remaining 25
per cent on March 81 1896. To such as
shall, on or before December 81, 1896. have
paid their subscriptions in full, there will
be issued certificates therefor, emitting
the holder to receive the dividend to be
paid in March, 1896
This increase OF capital will, with the
funds now In hand, enable the company
to exercise january /, 1896, its option to
retire, or redeem I'm cash, the 2-10 per
cent gold bonds of 1901, and to llquidate
the other obligations above referred to,
thus releasing TO the company the stocks
bonds, obligations, securities, real estate,
interests in real estate and items of in
debtA1neeB Of the Chesapeake, Ohio and
Southwestern railroad company, and affil-
lated corporations which were pledged as
collateral security for said 2-10 per cent
bonds.
, Scrip wih be. issued to subscribers for
new stock In evidence of the respective
payments made on account thereof. Stock
holders who may wish to subscribe for
new stock. II tts issue shall be authorized.
are requested 10 fill In the blanks in tl1e
subscription paper, sign fdTe name in the
presence Of a witness. and send It TO
tbe office OF the company, No. 2l4 Broad
way, In the city OF New York, at once.
No subscriptions will be received after
December is, 1895. or fog more or less than
the exact 0ne-fihth OF the subscribers
holding OF stock az registered on the
company0 books Oct. 10, 1895.
The privileges Of suhsEibing may be a.
signed by any Htoclrlp1faer. provision
Tor shat puIpoSe WIN be found I'm the
subscription paper.