The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-02-27
financial.
CHICAGO, January 81, 1929.
To the Stockholders of the
Chicago { Alton R. B, Co.:

Referring 10 a circular Of this date by MI. John j.
Mitchell Of Chicago. we beg leave TO say;
We believe, Notwithstanding the general advance
in value OF railway shares, that the price offered,
namely. 1900 per share for each share OF the pre-
ferred and S175 per share for each share of the com.
mon. Is n tair price for the stock. and that II ia for
the interest of the stockholders Of the Chicago q
Alton Railroad Company to deposit their stock
under the agreement referred 20. We. therefore.
recommend the acceptance by stockholders Of the
proposition made therein.
We have had under consideration for over two
months the question of the purchase of the stock of
the Chicago q Alton Railroad
Upon the request OF the President, the Executive
Committee took up the pending negotiations, and
the agreement now submitted to you was approved
by them.
The Chicago T. Alton Railroad Is without con.
nections either East or West subordinate to its own
corporate control. At important points, increas-
ing competition already existing and threatened.
with the general tendency 70 decreased rates OF
transportation, and to increased rates of TAXATION.
make II more and more difhcult for the road TO
continue the earnings of the past. These factA.
In our opinion, constitute conditions affecting the
future of the property which will exist and be felt.
Notwithstanding the bonded Indebtedness OF the
company shall be refunded. In addition. the com.
pany will. In our opinion. be obliged to eKpend .
large sum for track elevation in Chicago, and for the
purpose OF putting the road and its Appurtenances
In condition. In competition with other lines. to
economically do the business which shall be offered
TO II.
FOR THESE AND OTHER REASONS WE
WILL FOR OURSELVES ACCEPT TIE
OUR OWN STOCK WITH THE
I STATES TRUST COMPANY OF
NEW YORK, NDER THE AGREEMENT.
The purchasers of the stock OF the Company are
gentlemen connected with important railway in.
terests. This fact will enable them to use the rail.
way OF the Chicago and Alton Railroad Com
pnny, IL acquired by them. as a virtual extension
OF their own systems, and will furnish It with q
large amount Of through trafac, which otherwise it
might not obtain. This furnishes explanation of the
desire OF the gentlemen named to acquire, If possi-
BILE. the stock Of the Alton Company. Very respect
fully.
MoRRIS X. JESUP.
JOHN A. STEWART.
John J. MITCHELL. st. Louis.
FIELD.
ALBERT A. sPRAGUE
A. @. BARTLETT.
CHAS. IL CHAPPELL,
Directors.
Referring to the above and to the offer
made to purchase at
$500 EACH SHARE OF THE PRE-.
STOCK, and ut
SToCK.
of the Chicago and Alton Railroad,
which offer, by the unanimous order
of the Board of Directors, was COM
municated to the Stockholders, atten-
tion Is called to the fact that
THE TIME FOR ACCEPTANCE OF
THE TERMS OFFERED WILL
EXPIRE ON MARCH 1ST.
Asserting Shareholder should. therefore.
promptly deposit their Stock with the
United states Trust Company of New York,
from which circulars setting forth the con-
ditions OF the offer in detail may be OBJ
tanned upon application.
JOHN j. MITCHELL.
Chicago, February 18th, 1899.