Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-10-21
PALACE CAR COMBINATION.
The Wagner-PulIman Anal ga nation
Confirmed.

The New York Tribune OF today says:
After many days of denials, some quail
fed and some absolute, on the part OF ON
GERS of both corporations and OF interests
identified with them, the persistent rumors
that the two great palace car systems OF
the country. PLllman's Palace Car Com
pany and the Wagner Palace Car Company,
were about to be consolidated were proved
Yesterday to be entirely accurate. The di-
rectors of both companies have given their
assent to the scheme. and the ratification
of their action by the stockholders, which
ia expected to be voted soon, is all that re-
mains TO make the projected merger an as
sured fact.
are to come together are set forth IN the
following circular, which has Just been Is
sued by the Wagner company to its stock
holders:
once of Wagner Palace Car Company,
NEW YORK, October IL, 1879.
The board of directors OF the Wagner
Palace Car Company has made an agree
ment with the directors OF Pullman L al
ace Car Company, subject to the ratlnca-
zion of The shareholders of both companies
for the sale OF All the asses ana proper y
of this company to Pullmans Palace Car
Company. The purchase price Is 10 oe pau
TO the several shareholders In this company
through its officers, either in cash at the
rate OF $50 share or in the STOCK OF fuII-
mans Palace Car Company, at the rate Oh
stockholders. respectively. For TINS puf-
pose Pullman's Palace Car Company is 70
increase its stock by the addition OF 2oOVoO
shares. The action OF the directors III mar
ing the agreement was unanimous. Ihey
believe ii to be advantageous TO the snare
holders and that the purchase price Is the
fair value Of the assets ana good VIII OF
the company. All Of them have elected to
take stock rather than cash for their sew
eral holdings. ~, -,
In connection with the execution OF the
,ll,,o.a - "a a
nsnv If will be necessary to dissolve this
company, and the directors nave therefore,
by unanimous vote of all the members, ex-
pressed their intention to dissolve the com
papv on December 80 1899 unless the dis
solution shall be objected to by majority
in interest of the shareholders.
If the arrangement meets your approval
YOU are reques ted to give your written as
sent thereto and at the same time to eject
whether you will receive payment for your
distributive share of the assets, property
and goodwill of the company In cash or in
stock of Pullman's Palace Car Company.
You may do this by dating, signing and re-
turning to the secretary one OF the two
i0ri''S 'i'' JAMES D. taylor, Secretary.
The following statement was issued yes
terday at the close of the meeting OF the
board of directors of Pullman's Palace Car
Company. in Chicago:
IT is announced that negotiations have
been concluded between the boards of di-
rectors of the Pullman and Wagner com
panies, subject to the ratification of their
respective stockholders, by which the Pull
man company will purchase all the assets
and property of the Wagner company, in
Guiding its contracts with railway compa-
MES having therefor 200. 900 shares of Pull
man stock the capital stock of the Pullman
company to be increased accordingly for
that purpose.
1t is understood that the board of direc-
tors of the Pullman company is to be in
creased and that Messrs. William K Van
derbilt J. Pierpont Morgan, Frederick w.
nd Ilr wi
become members of the Pullman board.
Steps are to be taken Immediately to sub
NIT the matter to the stockholders for ac-
ton and approval, and for that purpose
special meeting of the stockholders of the
Pullman company has been called for De-
cember 5 next.
At an adjourned meeting of the board of
directors of the Pullman company held yes
terday a quarterly dividend of 81 per share
was declared. payable November 15 to
stockholders of record November l.