Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1901-06-06
ROAD IS EXPANDING
Rock Island Votes an Additional
Issue of $4,000, 900
Stock.
TWO NEW DIRECTORS ARE ELECTED
Old Officers are Continued..The
Annual Meeting is
Held.

An additional issue of $lO,OoO, OOO
of stock is to be made by the Rock
Island road. This was decided yes
terday at the annual meeting in Chi
cago. after the election of directors.
when William Ii. Moore and ID. q.
Reid, of New York, were male men,
bers of the board. With the new is
sue authorized the total stock OF the
road is now 500, 900. 600.
The additional stock is for the pur-
pose of paying for extensions of the
system, notably that now building
from Liberal TO FL Paso. where con-
nection will be made with tho Mexi-
can Central. Relative to the new is
sue 1t is provided that the stockhold-
ers Of record on the closing OF the
transfer books June 2S shall have the
right TO subscribe for new stock at
par in the proportion of one share to
every five then standing on the books
of the company in the name of the
purchaser. At present quotations the
Rock Island rights" are worth be-
tween $l2 and $l3 per share. Pay
ment must be made upon purchase on
or before July 81 next. The two
new mem bers, Messrs. Moore and Reid
take the places respectively of M.
Flagler and IL. A. Parker. both of
whom resigned. Mr.. Reid is asso-
ciated with Mr.. Moore and is a di-
rector and member of the executive
committee of the United Steel corpo-
ration.
Old Officers Reelected.
With these changes. the old direc-
tors. the old executive committee aud
the old officers were reelected. The
retention of President w. G Purdy
apparently sets at rest the rumor
that w. II. Truesdalo, president of the
Lackawanna, is to be asked to return
to the Rock leland as its president.
1t is understood that the FL Paso ex-
tension is to be pushed vigorously,
and when completed close traffic rela-
tions will be made with the Mexican
Central road, which was recently pur-
chased by the n. Clay Pierce syndi-
cate. aud which also controls the
Frisco Tnis syndicate is figuring on
opening a new route to the orient,
with Manzsnilo as the port, and the
Rock Island will be given the full adj
vantage of this as well as of the con-
nection with the Southern Pacific,
which will be made when the new line
is completed. A portion of the &c.
600 900 will be used in procuring new
equipment for the system. Other ex.
tensions made during the year and to
which attention is called in the 21st
annual report are: An extension of the
Chickasaw branch from Mountain
View to Mangum, oklahoma, a dis
lance of az miles; a line from King
fisher to Casbion, Oklahoma. a dis
tance of 10 miles; line from Gowrie,
Iowa, to Sibley, distance of
10 miles, aud extensive improve
ments on the Fort Sill branch.
Names of the New Board.
The board of the company as now
con stituted is as follow: Ii. L
Bishop Alexander + Orr. Ogden
Mills. G S Brewster. w. A Nash,
Tracy Dpws, A Z Flower, William
III. Moore and ID. G. Reid, of New
York, w. G Purdv and Marshall
Field of Chicago, and K K. Cable, of
Rock Island aud F. II. Griggs of
Davenport. Ia.
r X Cable, w G. Purdy Mar
shall Field, ii r. Bishop and A X.
Flower constitute the executive COM
mittee. Approval was given of the
plans for a new depot in Chicago.
which will be built jointly by the
Rock Island and Lake Shore.