The sun., 1899-02-19
Rn1urtaI.
CHICAGO. January 81. 1904
To the Stockholders of the
Chicago & Alton R.R. Co.:

Referring TO a circular OF this date by Mr. John J.
Mitchell of chicago. we beg leave to say:
We believe notwithstanding the general adv,no.
In value Of railway shares, that the price offered.
namely 5000 per share for each share OF the prs
ferred and s75 per share for each share of the COM
mon Ia fair price for the stock, and that IL ia for
the interest of the stockholders OF the Chicago A
Alton Railroad Company to deposit their stoot
under the agreement referred TO. We. therefor.
recommend the acceptance by Stockholders of IN,
proposition made therein.
We have had under consideration for over two
months the question OF tho purchase Of the stock M
the Chicago q Alton Railroad Company
Upon the request Of the President, the E1ecutiv.
Committee took up the pending negotiations and
the agreement now submitted to you was approved
by them.
The Chicago q Alton Railroad is without con.
neotions either East West subordinate It's own
corporate control. At important points. incrcas.
ing competition already existing and threatened.
with the general tendency TO decreased rates of
transportation, and to increased rates OF taxation
make II moro and moro dnlcult for the road to
continue tho earnings of the past These facts,
in our opinion, constitute conditions affecting the
future of the property which will exist aud be fell
notwithstanding the bonded Indebtedness Of the
company shall he refunded In addition, the com.
pany will in opinion, be obliged to e1pcnda a
large sum for track elevation in Chicago and for IN.
purpose of putting the road and its appurtenancra
in condition. in competition with other lines. TO
economically do the business which shall be offered
10 IL.
For these and other reasons we will for ourselves
accept the said propo sition and forthwith deposi,
our own stock with the United States Trust Company
of New York under the agreement.
The purchasers of the stock of the Company are
gentlemen connected with important railway in.
terests. This fact will enable them 20 the rail.
way of the Chicago and Alton Railroad Com.
pany, if acquired by them. as virtual extension
of their own systems and will furnish it with .
large amount of through traffic which otherwise
might obtain. This furnishes explanation of the
desire of the gentlemen named TO acquire. II po.si
ble the stock of the Alton Company. Very respect
fully.
MORRIS X. JEsUP,
JOHN A. STEWART.
JOHN ]. MITCHELL. st. Loui,
MARSHALL FIELD,
ALBERT A. SPRAGUE.
A.. G. BARTLETT,
CHAS. II. CHAPPELL
Directors.
Referring to the above and to the offeF
made to purchase at
$500 EACH SHARE OF THE PRE-
FERRED STOCK, and at
0175 EACH SHARE OF THE COMMON
STOCK.
of tho Chicago and Alton Railroad,
which offer, by the unanimous order
of the Board of Directors, was COM
municated to tho Stockholders, ntten-
ton is called to the fact that THE
TIME FOR ACCEPTANCE OF THE
TERMS OFFERED WILL EXPIRE ON
MARCH 1ST. Asserting Shareholders
should, therefore, promptly deposit their
Stock with the United states Trust Com
pany of New York, from which circulars
setting forth the conditions of the offer
in detail may be obtained upon npplica-
ton.
JOHN j. MITCHELL.
Chicago, February 18th, 1890.