Evening star., 1902-08-01
OFFICIALLY GIVEN OUT
READJUSTMENT PLAN OF THE
ROCK ISLAND.
The Iowa Operating Company and the
New Jersey Holding Company
Circular to Stockholders.

yesterday afternoon of the readjustment
plan of the Chicago, Rock Island and Pa
cific Railway Company. With the announce
ment of this plan through a circular issued
to the stockholders by President w. b.
Leeds came the news from Iowa that an
other company had been incorporated un-
der the laws of that state with a capital
alton of $125, 900, 900 in stock and s7500O000
In 1o0-year 4 per cent bonds, and known
as the Chicago. Rock Island and Pacific
Railroad Company of Iowa. Together with
the holding company, designated as the
Rock Island Company of New Jersey, which
was incorporated the day before in Jersey
City with capital stock of 1J00o0,OO, the
capital of this road is declared to be in
f1ated threefold.
Exchange Of Stock
The circular of explanation declares that
the plan has already been approved by
majority of the stockholders of the road,
and it suggests that it will be to the in
terests of all stockholders to accept 1t. Just
how the securities of the new companies
are to be divided among the holders of the
stock of the old Rock Island Company is
explained in the circular in detail. The
Iowa company is to be the operative com
pany for the thousands of miles of rail-
road now controlled by this combination,
while the New Jersey company Is to event
ually hold its securities. Shareholders OF
the present Chicago, Rock Island and Pa
cifc Railway Company are invited to sell
stock to the Iowa company on the foHoW-
ing basis: For each share of original Rock
Island stock of the par value OF Sloo the
Iowa company will give 500 in Its per
cent gold bonds, $40 in preferred stock and
500 of the common stock Of the ROCK Is
land Company of New Jersey. The $15,too,-
600 present share capital Of the original
Rock Island road will emerge in the follow
ing shape: $75,O00,0 900 collateral trust bonds
of the Iowa company and $32,5oO,eoo pre-
ferred and s75,000,oo0 common OF the ROCK
Island company, or total Of $2o25ooooo OF
capitalization.
History of the Read.
The circular Just issued gives brlef MIS-
tory of the growth and present mileage or
the road, together with its business posi-
bilities. In part this states:
"The Chicago, Rock Island and Pacific
railway In 1900 embraced $500 miles Oh
tracks and trackage and was a through
line only from Chicago to Denver and from
Chicago to Kansas City, and local propo-
stion southwest from Kansas CITY as 1ar
as Texas. By combination with. the BUR-
ington Cedar Rapids and Northern rail-
road the Rock Island and Peoria, the
Choctaw Oklahoma and Gulf, building an
extension to Ell Paso, line between han-
sas City and st. Louis, connection pc
tween Fort Worth and Galveston In Texas,
IT has today 1000 miles of railroad In oper-
alton. and an additional 1000 miles in
course of construction, making tolai
mileage, when completed OF s,oo mnes:
1T has every variety Of product from the
gulf to the prairies of Dakota-timber,
COAL cotton, spring wheat, winter wheat,
corn stock and cattle from the ranges
1T extends from the parallel through 81
Paul and South Dakota, south to the CUR
of Mexico. 1t is a north and south road
from St. Paul to the gulf-1,OOo miles wide.
1t Is trunk line from Chicago to the Col
| % O Qnd
is a trunk line from St. Louis through
Kansas City to the same points in Colo
rado. 1t is a trunk line from Chlcago
southwest through Kansas city, FL Paso'
| Tex there connecting with all the grow
| ing territory of the country of Mexico the
| Pacific states and territories of New Mex
| leo and Arizona. 1t is trunk line Tor all
| the southern states from Memphis west
| through the richest section of the United
| States, embracing Arkansas, Indian terri
| tory and Oklahoma, to the points before
mentioned. With the completion OF ITS
| Galveston line, it becomes trunk line from
the Gulf of Mexico to the Colorado gate
ways, and has secured an outlet to the sea
| for its 5000 miles Of road.
This year the Rock Island placed seven
| thousand additional cars and two hundred
| locomotives upon its lines, bringing Its
| equipment in efficiency up to the highest
| standard in the west, and with compe-
| tent management the Rock Island as an
earning proposition Is equal, mile for mile,
| to any of the roads of the middle west
The dispatch from Des Moines, Iowa,
giving the news of the new incorporation
states that the fee for filing the same
amounted to S125 obs, the largest fee Of the
| kind ever paid to the state.
The incorporators of the Iowa company
! are William T Rankin of Chicago, Ben
jamin s. Gable of Chicago, George S. Nc
| Caughn of Chicago and John l. Ollie and
! Frank Davy Of Des Moines.
The New Jersey Company.
The officers of the New Jersey company
as announced are:
Directors-R. R. Cable, Marshall Field
H. c. Frick, William H. Moore, j. H
Moore, D. G. Reid, w. B. Leeds, Ogder
Mills, George S. Brewster, Arson R. Flow
er. F. L. Hine. George G. McMurtry anG
George T. Boggs.
Finance commttee-W. H. Moore, chair
man; Marshall Field, w. B. Leeds, D. G
Reid J. H Moore and F. L. Hine.
| Offlcers-W. B. Leeds, president; D. G
Reid, secretary and treasurer, and George
T. Boggs, assistant secretary and assstan
| treasurer.