New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-02-25
CHICAGO AND ALTON AFFAIRS.
STATEMENT BY PRESIDENT BLACKSTONE IN RE
GARD TO PROPOSED PURCHASE.

STATEMENT BY PRESIDENT BLACKSTONE IN RE
GARD TO PROPOSED PURCHASE.
Chicago. Feb 24-Owing to persistent rumors cir
culated concerning the attitude OF T. B. Blackstone
president Of the Chicago and Alton Railroad tow
arl the proposition OF the syndicate to purchase
the stock Of that company representative or the
Associated Press called upon him at his office TO-
dav and obtained an authoritative statement OF
his views Asked whether not the syndicate had
obtaiued a majority Of the Alton stock. Mr.. Black
STONE said that IL had not and he did not believe
II would and when it did. II ever. he would ad-
wise the stockholders of the fact.
Concerning the statement published in New-York
that his views touching the proposed sale 10 the
syndicate had not been uniform of late. he said:
Il have never been uncertain as 10 what shall
do 7 have not favored the acceptance Of the
svndicate's offer and have not advised any one /"
accept and shall not accept myself The present
condition and earning power OF the Alton road
with the future prospects Of better crop and mining
conditions. make it morally certain that stock
holders Will continue 20 receive dividends on Us
present capitalization equal to those OF the past
Mr. blackstone said further that he had pre-
pared the following announcement
THE Chicago and Alton stockholders: In my COM
munication addressed TO you. under date Of Janu-
arv g. I made certain statements with reference
70 an offer made by Mr.. }. } Mitchell to purchase
your shares | now wish TO supplement that state
mont by advising you that in case majority Of
tho shares OF the company are not sold to the
syndicate represented by Mr.. Mitchell, I shall HG-
wise that YOU authorize the refunding Of the out
s. nding bonds Of the company and the issue Of a
stock dividend 10 represent earnings heretofore
invested IN permanent improvements.
s TO the amount Of stock which had been Tor
warded 10 the syndicate, Mr.. Blackstone sara
81 do not know certainty the number or SHARES
that have been deposited at the present time but at
my last advices there had been less than one
fourth OF the stock Forwarded II IS reInarksoIe
the Chicago and Alton Railroad appear 10 be mos
anxious that IT should change hands, but what
outside considerations prompt these conditions
DO not know
SANTA FE's SAN FRANCISCO CONNECTION.
san Francisco. Feb 24-Paul Norton vice-presi-
dsnf OF the Santa Fe system. and party have ar
yfvei here from Southern California. Mr.. Morton
comes here IN connection with the future progress
Of the Santa Re In this section. He expects TO have
through trains 10 the East running from Stockton
b. October next The companys system includes
the San Joaquin Valley Railroad. and viii make
FAN Francisco its Western terminus The Santa
Re will not inaugurate a rate war, nor VIII the
railroad erect expensive buildings In this city.
few freight sheds VIII be constructed az once, nut
beyond these improvements no great changes are
contemplated for the present
Company OF California have been filed The cor
pcration purposes 70 acquire property for terminals
Tor general railroad and ferry purposes. The cor
6ush ] T. Truslow and 4 Mackie The capital
stock is 100000 Of which S995co has been sub
scribed by A. II. Payson. trustee. and 800 by each
OF the I'VE corporators.
COLUMBUS. HOOKING VALLEY AND TOLEDO
Columbus, Ohio Feb. 4-The Columbus. Hooking
Valley and Toledo Railroad sold here to-day
10 the Reorganization Committee the price being
sA0pODO