New-York tribune., 1901-04-19
BURLINGTON DEAL SURE.
EX-PRESlDENT PERKINS FAVORS AC-
CEPTING OFFER OF $500 TO BE
PAID IN JOINT PER
CENT BONDS

purchase Of the Chicago. Burlington and Quincy
Railroad Company by the Northern Pacific and
Great Northern Railroad companies given
out this evening from the office of the Boston
News Bureau. in the form of statement from
Charles e, Perkins. a director and formerly
president Of the Chicago. Burlington and Quincy
Railroad Company. The statement follows:
Mr.. Perkins says it was practically settled this
afternoon that formal offer of $500 a share will
be m e N per een bonds S5 OF ek G or rts Wo
and Aortnsrn 9sr PacI1c 1 companies secured by de-
trust and that Messrs J. P Morgan CO. tiGA in be n
hs bo6s OF 81 psS viii lin Offer TO buy 100000 Of
ally he is in favor of accepting the proposition.
Robert Bacon and Charles Steele. Of the firm
Of ]. P. Morgan & Co. are in this city in the
interest, it is understood of the new Burlington
bond issue, and are endeavoring to interest some
of the large local banking houses in a syndicate
TO underwrite the new per cent bonds Local
bankers refuse to admit that they have been
approached the proposition but saw that
they believe Boston will have large slice of
the proposed bond issue
II is said that certain Boston houses have
made apphcatlon TO j. P. Morgan & Co for
underwriting. and that to the application the
reply was given that The baby has not been
born yet"
The negotiations for the purchase of the
Burlington by the Northern Pacific and the
Great Northern have been in progress for many
the time it became evident that control of the
Chicago Milwaukee and St Paul could not be
secured The offer which has proved accept
able to the representatives of the Burlington
stockholders is the latest and most liberal Of
three four which have been submitted. The
last preceding offer of 3,a per cent bonds at
225 There has all along been uncertainty in
Wall Street the extent of the guarantee, an
uncertainty which has been removed by the an
of -TYaei hat ne
bonds are to be guaranteed Jointly by the two
purchasing roads. The outstanding capital
stock of the Chicago, Burlington and Quincy is
SlO9206, 400, that the bond issue will be OF
the par value Of S21S AZ. 500. The underwriting
syndicate announced by Mr.. Perkins as having
been formed by J. P. Morgan & Co. is reported
10 include also the First National Bank, the
National City Bank, the Chase National Bank
end Kuhn, Loeb & Co
II is said that the Burlington directorate will |
be reorganized IN a few days by the election Of
representatives of the Great Northern and
Northern Pacific. but that President Harris and
the executive staff will be retained.
Burlington closed yesterday at 1881, a net
fifty points since the present negotiations were
entered upon. but has been rather weak and in |
active during the last few days owing to the |
delay IN the appearance of an official statement
regarding the purchase Northern Pacific has
cad a similarly large advance. and is now above
par closing yesterday at 1U3.
mLL SAYS NOTHING YET CONsUMMATED |
Seattle, Wash April Isl ]. Hill. president OF
the Great Northern Railway. in this city to-
Gay Gil a pleasure tour with a party Of friends
Asked il he had anything say touching the re-
ported merging Of various railway corporations in
which he is interested into a great syndicate he
said: Il have read the various statements pub
of facts Here are about dozen statements Of er-
Toneoa5 ro characte II is true that several large
closer traffic arrangements and that such arrange
time there has nothing coRsan5rnated @ a
upon which TO base correct statements
Il apparent that he ANNOYED bv
coupling OF railroads other than those with which
=, that iaferyisws puTportng e have been given
Seattle for St, Paul at noon.
40 SUCCESSOR TO ALDACE F. WALKER YET
The executive committee Of the Atchison. Topeka
and Santa Fe Railway Company yesterday but
according 70 report, took action regarding the
zSleStion siii Of successor to the. the a5e Aldacs
alliance with the Pennsylvania Railroad Company
rteiess GROUND for befef that Pennsyvania q inter-
ests are likely soon to enter the Atchison board.
RATES FOR EPISCOPAL CONVENTION.
pelmonte Cal April 1s-The Transcontinental
Passenger Association in session here, has decided
that the rate from Chicago to San Francisco and
return for the Episcopal Convention. which is to
be held in San Francisco shall be $50 for first
class ticket. The rate from the Missouri River
will be s45 and from ST. Louis and New-Orleans
81 30 Tickets for this convention will be sale
east of Colorado from September % TO q. The
round trip rate from California the Pan-Amer-
icsn Exposition Buffalo will be made a basis
$50 Missouri River. added TO whatever rates
may be made east of the river. II was decided
abolish skeleton tickets. The following roads have
joined the association: The Burlington, Cedar
eastern and the Keokulk and Western. The asso-
citation numbers thirty-six roads. and it is
nounced that the number may be INCREASED to forty
I'VE at the next meeting. Inc Great NorIhern,
Northern Pacific and Canadian Pacific are still out
Of the association
MISSOURI RIVER BRIDGE PIERS SOLD.
Kansas CITY Mo. April 1s-At public auction to-
day the Winner bridge piers in the Missouri River
here and other terminal properties Of the Kansas
City and Atlanta Railroad were scld TO Theodore
e. Bates. of Worcester, Mass for 100000 The sale
made TO satisfy a mortgage for about $l00,ee0.
held in trust by Massachusetts Loan and Trust
Company of Boston. and the property was pur-
chased in the interests of the bondholders. The
will end the receivershp of the property and
will terminate YEARS litigation. Mr. Bates is az
the head of a. Eastern syndicate controlling the
property and which will it is said. begin re-
organization of the terminals that viii result In the
building of a large passenger station affording |
means for an entrance into Kansas City of the |
Baltimore and Ohio Southwestern the Chicago and
Northwestern and other railways. The bridge will
also be used it is said to bring in suburban cleo
in chancery at Harlem, small statlon on me rcad
the river from Kansas CITY Besides Alr |
Bates, the only others in attendance al the sale |
ton who are all interested in the Eastern synd |
cate Mr.. Bates made the only bid The sale VIII |
have be confirmed by the receraI court
ARBrrRATING DIFFERENTIALs AT FITTs- |
BURG.
Pittsburg April 1s-An important meeting was