Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1902-05-01
PLANS OF The ROCK ISLAND
May Purchase WiERins Ferry for
Terminals and Extend sys-
tenn 60 st. Louis.

ST. LOUIS, April 30.-The Republic to-
day says: The Chicago. Rock Island &
Pacific Railway company Is the bidder for
the Virgins Ferry company. That company
is the principal represented by the Mer-
camille Trust company. II the deal sue
oeeds st. Louis will have another big rail-
way system. The Virgins ferry is for
terminals.
A high offcal OF the Rock Island, believed
to have been Robert Mather, second vice
president and general attorney, was in the
city yesterday in consultation with Festus
J. Wade. president of the Mercantile Trust
company. and John scullin,. president Of
the Virgins Ferry company. An effort was
made to keep the visitors identity secret.
The Rock Island representative departed
last night over the Illinois Central for
Chicago and was questioned aboard the
sleeper.
"Is it true, Mr.. Mather, that the Rock
Island is now the owner Of the Virgins
Ferry company and intends to come into
St. Louis?" he was asked.
81 am not prepared to answer" he re-
piled.
He would not admit that he was the
second vice president and general attorney,
though he did say that he was an ofhcial
Of the Rock Island. In his hand he carried
roll of paper, apparently maps. plats and
legal documents, which we're not deposited
in his spacious valise. even when he got
aboard the car.
ST. LOUIS, April 3O-M. A. Low, general
attorney for the Chicago. Rock Island &
Pacific Railway company. stated today that
the Hartman syndicate, embracing that
property, had purchased the st. Louis. Kan
sas City q Colorado railroad, operating be-
tween st. Louis and Union. Mo-. and had
authorized the Mercantile Trust company 70
negotiate for the purchase Of the Virgins
Ferry stock at $500 a share.
With the purchase of the ST. Louis Kan
sas City g. Colorado railroad. the Rock
Island secures right OF way into st. Louis,
and, with the acquisition OF the property
of the Virgins Ferry company. ample ter
minal facilities will be had
Mr.. Low declined to state the price paid
for the Colorado road, negotiations for
which, he said. had been going on for sew
eral weeks. He said the Mercantile Trust
company had secured an option on a ma
jority Of the stock of the Virgins Ferry
company, the purchase price of which would
be more than the $4,000 recently men
toned
Mr.. Low said:
The Colorado railroad was bought several
weeks ago, but final papers were not signed
until last week.
With this property we have the right-of-
way Into st. Louis and the Virgins Ferry
ties.
am assured, and have no reason what
ever to doubt the correctness OF my belief
that the Rock Island road has a majority
of the ferry company's stock The Mer-
camille Trust company is simply acting as
our agent
The original proposition was made in New
York by President Scullin OF the Virgins
Ferry company. After a conference with
the Rock Island directors the sum of $500
was offered for each share and Mr. Scullin
said he thought he could get the stock at
that price.
When he returned to ST Louis the Mer-
camille Trust company was officially au-
thorized to represent us.
i believe this move on thA part OF he
Rock Island will be of immense benefit TO
ST. Louis. 1t will mean that there will be
q competitor to meet on terminal business
here, as with the Virgins Ferry property
we Will have ample facilities for handling
freight on this and the other side of the
river.
Mr.. Low advanced the opinion that the
Rock Island would probably expend mil
lions of dollars for improvements.
The heaviest holders OF the Colorado rail-
road stock were David R. Francis and John
Scullin president of the Virgins Ferry
company. At present the road has only
been built to Union, Mo-, but is being ex-
tended to Kansas City. where It will meet
the Rock Island. There was no change
today in the contest between the Missis-
slppi and Mercantile Trust companies over
the Virgins Ferry stock Both sides stili
hold firmly that the controlling interest