The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-11-18
Confirmation of the Reported
Transfer of the Alton
To the Kansas City, Pittsburg
& Gulf Comes From
VARIOUS QUARTERS.
Large Financial Concerns In
terested in the Deal.
Will Make a Through Line
From Chicago to the Gulf.

Chicago, Nov. 18.-There is every indi-
cation that the ownership of the Chi
cagO & Alton road, the most valuable
piece of railroad property in the United
States, will in a short time change
hands, if, indeed, the transfer has not
already been made. Reports of a deal
between the financial interests back of
the Kansas City, Pittsburg & Gulf and
the three link line have been floating in
to Chicago from the east and west for
three days, but they have all been
promptly denied by the man who holds
the controlling stock of the Alton COM
pany, T. B. Blackstone. Yesterday,
however, Mr.. Blackstone could not be
seen regarding the matter.
John J. Mitchell, president of the Hin
ois Trust and Savings bank, however,
in a manner confirmed the reports that
negotiations for the sale of the road
were being carried on by this state~
ment:
''AlI talk of the deal is premature"
Next to Mr.. Blackstone probably, the
largest stock holder of the Alton is John
J. Mitchell of st. Louis, an uncle of the
Mr.. Mitchell of Chicago referred to. 1t
is said that a cash option on the con-
troll of the Alton stock, with ample
protection to minority holders, for some
time has been in the possession of the
Illinois Trust and Savings bank and
that on this option being offered to the
Kansas City, Pittsburg & Gulf the lead
ing interests in the company organized
a syndicate for taking it up.
The subscribers to the syndicate were,
it is said as follows: Kansas City,
Pittsburg & Gulf or it's financial back
ers, S15,000,O 900; Drexen & Co, of PhiIa-
delphia, 100000 Illinois Trust and
Savings bank. $12, 900, 900, and several
smaller subscribers, $4,000, 900. A. E.
Stilwell of Kansas City, who is presi-
dent of the Kansas City, Pittsburg &
Gulf, the man who is credited with en-
cheering the deal, has been in Chicago
for several days. He said he could give
no information at present concerning
the reported transactions.
Among high Chicago railroad officers
and financial men there is a strong be-
lief that the Alton is as good as sold,
if in fact the transfer has not already
taken place. If it is found impossible
to secure the holdings of Mr.. Black
stone, it is said, all the availa BILE stock
of the company will be bought up
which will then narrow the deal down
to the obtaining of Mr.. B1ackstone's Sc
curities.
BY obtaining possession of the Alton
the southwestern company would Sc
cure a through line from Chicago to the
gulf, with a line to Omaha.
The Kansas City & Gulf road Is a
wonder in the eyes of the railroad
world. President StilIweIl, the control
ling man in the company, is the James
]. Hill of the southwest, and if he Sc
cures control of the Alton he will have
accomplished more than Jay Gould was
able to.
There are many of the opinion that it
is the Alton that is after the Gulf road
instead of the latter being on the traiH
of the Alton. But this would not be in
line with the Atoms time-hOnored pol
icy of noneXtension.