The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-07-27
R.l.PLAN rOBE OUT THIS WEEK
CONCENTRATION Avn Ese>osf
WAN. uH. IETDs <uN
sass .sso ooS sf >e~ sseari''e-. rar',
Interchangeable fsr nsrs island >'s"s
Name ef >ew COMPANY, h . ners
island tsmpan, stock and uish'st y,

pr.-ib.n, ". n t.~,i- ~ M" thtcago,
REX Island ana pariho Railroad r"'ch'i
New York yesterday morning 'r"m 'ht'
cako. lie spent ~" greater Part at 'N'
d., M h- IA IA III" k.tnptr' BuildinH
and d~i-~u--.i tn. ueN financial r~ddlis'-
mont pl,n With directors II "a" company
and hall a dorm law yrr~ Will" d"chn'
Ing To ak fut -uhltriiinn regarding h"'k
I.l.nd matters. President ls~'d- -aid nat
there APPEARED 90 D." a MISUNDERSTANDING
With regard ~ The uurts'-' that ~" h"'N
I-land mana s"incul had IN view IN ~
NJ raniying w.. financial a0a'r- ~ IN" COM
many. He inttmatrd that ia" main object
wa c~uu~,ntra'iou and economy
Asked II the Ruck Island directors would
meet IN this civ nov Tuesday. President
I.-gi- -aid that IN all Probability th'N
would ha would ~IV nothing about 'hN
puriso-a of the m'r'i1g. II NAV 10 stated
"A. a fact. howe vcr. that th" directors VIII
~rar,iyr from Prr~iden' lSe,is th" ""mr'"i"
draf, ~ a plan fur fhe fnancisl " saniiH-
tinn If the cumuluy II has Leon decided
To- call the r'w curpNfa'iou %" Rock lHl'
and con fauy 1li- COMPANY VIII i~-'ie
no, l,-. than s~ioo..rUn = I f-'r cent col
lateral trust i.uI-. sl0l IT preferred
stock and s7sU1 osn ~ umnnn stock.
The t.rm- ~ no prnIsps'd ~ chang"
~ old Rock Island stock Tor the """uri'i"s
~ the new npa arr pricticallv IA"
same A. announced N rHT ~ last Friday
morning Nov bonds will b" given for
the sock of the pr'-Ht company dollar
for dollar. amt ~ addition thern will l." a
bonus Il ion new -har's preferred and 10
.hare. Of new common for each ion shares
Of the Did Rock Island stock
Wall Str-t " gar lrd this proposed read
.u.,mcut - Rock Island securities a. ad-
~van,asrou- to the stock ~ IA" present com
many and cou-id"rahl" uut-Id" -prculation
aevclopad Yesterday IN support 81 IN"
efforts of the controlling p"w"r- 20 advance
the price uf the old Rock Island stock N
the market. The quotation vas pu-h"d
M To- n Yesterday morning and after
the -alo Il lG.cO shares cl"-''d A. !p>'.,
a not gain fpr the dIv - Ia The R""A
Island rights On he siinoo.en II nov
stock advanced iu ~. and closed AZ ~.
on -,ls- aggrr eating il.i7i shares
President ls-et- r"itl-"i Yesterday 20 say
ANYTHING regarding ia" ruinor that ih"
Rock Island people had mad" an offer 10
buy control 81 tho ~ Louis and Nsn Fran
cisco Railroad President Il = loakun
Of IA. la4t-namcd road Wa asked about
this report - few days ago and he said with
emphasis that there wac nothing u u III"
majority huldtng- II IN" stock 20 IN" ~
Louis and san Francisco fuad. u WaS 10
serted. arr no, for sale In th" opeu market
A large proportion Of thi- stock j. closely
held In Boston and ~, turop-' The Iric"
Of IN. Frisco stock advanced a fraction
over 8 points Yesterday. but this advance
was attributed 10y dir.Sr'or~ 81 IN" road 10
IA. prospect uf incrra-s~d earnings and -
the expectation u a mutually beneficial
traffic agreement between the Rock Island
and the Frisco.
The relations between the Rock leland
and the Mallory steamship Line ar" 20 b.
much closer than heretofore. A new CON
tract has been drawn for the handling Il
freight at Galveston. which II IL believed
will ne advantageous 20 the Rock Island
system.