New-York tribune., 1901-05-01
BURLINGTON CIRCUI4R OTT.
JAMES H. SMITH is RECORDED AS VOTING
AGAINST THE HILL OFFER.

Boston. April 3o-The official circular issued by
the directors OF the Chicago. Burlington and Quin-
cy, making announcement of details of the offer
OF the Northern Pacific and Great Northern com
panies to purchase the capital stock Of the Bur
lington road. mailed to stockholders to-day.
The circular IL amplihcation OF facts previously
made known concerning the deal Besides the
offer TO purchase the Burlington stock the
basis of 500 in bonds for sOo In stock the circular
says that the bonds to be the joint obga tion
of the Northern Pacific Railway Company and of
the Great Northern Railway Company. Suck
stockholders desire a part payment of cash will
receive $50 in bonds and $40 In cash
AS previously stated. the bonds are TO bear in
terest at the of per cent per annum from
July l. 1901, and are TO mature July l. 1927. but
are be redeemable the option OF the two
Northern companies at los per cent and accrued
interest July l. 1906 any coupon day
thereafter. The purchasing companies reserve the
right TO pay off part without paying the whole of
the bonds: the number of the bonds be paid will
be designated by lot. The bonds TO be coupon
81 OO bonds and registered certificates of the de-
nomination of s1ooo, or of 5000 or OF mu-
tiple of 5000
The bonds are TO be secured by pledge of all the
stock acquired. with company as trustee,
under deed of trust. The total authorized issue
of such bonds will be limited TO aggregate
amount equal 10 twice the par value Of the total
amount OF stock that shall be deposited under such
trust deed Cash not exceeding in the aggregate
S5OO00O0O will be paid to those stockholders who
Conditional deposit Of two-thirds Of the capital
stock must be made on or before May 90 1901 the
deposit of such twothirds to constitute final ac-
ceptance of the offer. The transaction is be
before September 2. 1901 by delivery of the bonds
and cash the terms of the proposition. All cash
so payable Will bear interest at the rate of per
cent per annum from July l. 1901 until September
2, 1901, or until such earlier date may be desig-
rated.
The, circular adds that James H. Smith Is re-
corded as voting against the offer.
]. H Smith is the we'll known member Of the
firm of Geddes & Smith. at No 10 wnlI-st He e
a heavy stockholder in Chicago. Burnrton and
Quincy. A Tribune reporter una BILE to find hin,
there yesterday His partner, Mr. Cseddss de-
clined 10 say why Mr.. Smith had opposed the safe
Advances in the price of Wisconsin Central sfock
yesterday were held to strengthen the rumor thai
the purchase of the control of that road also
FIRE IN COAL NINE FORTY-TVO YEARS
Wilkesbarre. Penn. April 80 (SpeciaD.-The L..
high Coal and Navigation Company has begun ex-
tensive operations to extiuguish fire in the old
Summit Hill mine, which has been raging for
forty-two years. The fire started in 1859 and
efforts were made for a couple Of years 10 ex-
tingush IT, but without success. and ir was finally
abandoned and the workings sealed The fire has
ragged since. and steam and smoke have issued
from the surface above A short time ago IL was
discovered that the fire eating its way into an
veins, and as the damage would be great the COM
pany determined TO fght it, though II may cost
thousands of dollars. The workings now being
flushed with culm run in we'll mixed with water.