Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-11-28
O. EXECUTES LEASE
A 999.year Lease Said to Have
Been Signed by the Proper
Officials.
---
Old Officers to Have Control I'm.
der the New Regime..No De.
tails Given.
Mystery of the Frequent Adj
j%ournments Of the Stockhold.
ers' Meeting Explained.

New York, Nov. 2S.-The Chicago,
Burlington and Quincy Railway Com
pany, the 500, O0O.0 900 corporation re-
Gently incorporated in Burlington for
the purpose of operating in Iowa and
other states, is, about to enter into a
9s9-year lease of all the lines owned.
controlled and operated by the Chicago,
Burlington and Quincy Company. Pa
pers necessary to effect the transfer
have been prepared, and the lea Sc has
been authorized by the stockholders of
both companies in meetings recently
held. If the actual execution Of the
lease has not been made, it soon Will
be, but it is understood that it already
bears the signatures necessary to make
it a legal document.
1t is understood that at the meeting
of the stockholders, of the Chicago, Bur-
lington and Quincy Railroad Company,
10 be held in Chicago Friday, the lease
will be ratified, and that at a similar
meeting of the Chicago, Burlington and
Quincy Railway Company, to be held in
Burlington soon. similar action will be
AIKEN.
TO complete the. deal, the Chicago.
Burlington and Quincy railway people
will also meet and elect permanent Off
GERS. The old officers will be reelected
by the new regime. Accordingly the
Chicago, Burlington and Quincy rail-
.1~Y - n Ioo ~~1 m ffoa1f ytnIays a
new name what 1t owned and controlled
under the old organization.
The exact terms of the lease cannot
be ascertained, but, it is understo, ID that
the old company will continue.to be the
dividend paying concern, and thilt both
boards as well as both official rosters
will be the same.
The mystery of the frequent adjourn
ments OF the Chicago, BURLINGTON s.
Quincy Railroad Company's stockhold-
crs' meeting has been explained 1t is
that the annual meetini.s will
hereafter be adjourned from week to
week so that any official act thtt may
become necessary to the welfare OF the
property may be done without delay.
This method is the one whereby Mr..
Hill, in connection with the Great
Northern road, has: found of greiit con
venience in case Of an emergency with
reference to the organization of the new
railway company, and it Is explained
that such a concern vas deemed essen
tial in connection with the refunding
OF bonds which will begin in 1898. AT
present the Chicago. Burlington g.
Quincy Railroad Company has Il large
assortment OF special bonds issued
various portions OF the system
and for a variety of purposes. About
SOS, 600, 900 worth or these miscellaneous
bonds will begin coming due soon and
will have to be paid. 1t is the purpose
of the owners of the property to issue
in their stead bonds of the Chicago,
& Quincy Railroad Com
rany, and to make the authorized issue
to take care of the future
needs of the system. The proc .eds of
the new bond Issue, will be available for.
all purposesSand the financial policy will
greatly simplified. Such a plan, how
ever, could not be carried out without
the organization OF a new company. in
corporated, as is the Chicago. E;urling-
ton & Quincy Railway Company, In a
whose laws do not require that the
bonds of a corporation bear a certain
relation to the amount OF capital stock.
It is asserted that for this reason the
new company would have been organ
lied irrespective Of the change in con-
troll OF the Burlington.
President Hill Makes Statement.