The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-08-09
WILL ABSORB ERB's LINE.
Frisco Plans for Lakes to St. Louis
and Memphis Route.

The Frisco will shortly formally acquire
| the ST. Louis. Memphis and Southeastern
which is building line between st. Louis
| and Memphis along the Mississippi River
| part of which is completed and under oper-
| alton.
The Frisco is already largely interested
| in the property. Since the formation of the
company the Frisco has had an option on
| 20 per cent OF the $l2,5O0.0G0 stock at so a
share. Some time ago the Frisco interests
purchased stock in the open market at
about $50 a share, and when they take up
their option on the 80 per cent. they will
be in contrO-.
The stock at present is in ten years
voting trust, John F. Shepley, vice president
OF the St. Louis Union Trust Company
Howard Elliott, vice president of the Bur-
lington; F. H. Prince George H. Norman
and Newman Erb being the voting trustees.
The st. Louis. Memphis and Southeastern
has an agreement for the use of the Frisco
terminals in St. Louis and Memphis for a
term of fifty years. This system comprises
42O miles of road. of which 265 miles are
completed and in operation. representing
largely the purchase of the Southern Mis-
souri, and Arkansas, and st. Louis and Mem
pms properties, and the 155 miles are now
beinS constructed. With the road completed
1t Is stated that the Frisco would have one
and Memphis
Newman Erb. president of the St. Louis.
memphis and Southeastern Railroad Com
p&ny, to-day issued a statement saying that
MS road had not changed control, but this
ly technical.
In connection with the official announce
ment of the plan for the purchase of the
chicago and Eastern Illinois by the ST
Louis and San Francisco. financier iden-
titled with the latter said to-day that il was
the intention to extend the Eastern Illinois
into st. Louis from Shelbyville Ill. The
distance between the two points is 100
miles, and II will give the company one
of tie shortest lines between Chicago and
st. Louis. being 2S5 miles. For this pur-
pose a portion of the Eastern Illinois con-
soidated general mortgage bonds, of which
$50 10000 are authorized, and Sl2, $50 900 are
outstanding, viii be used.
The new arrangement Will give the Frisco
much shorter line for its traffic to the
Southwest. The point was made to-day that
the Frisco might not need to build the 100
miles above referred to, but might make IA
vorable arrangements with the Big Four
whereby the Eastern Illinois would use the
tracks of the Big Four from Shelbyville into
st. Louis. and the Eastern Illinois would
give the Big Four trackage rights into Chi
cago.
The Big Four now depends upon the I'LL
nois Central to get into Chicago. This au-
thority. in speaking of the benefits to be
derived by the Frisco from the ownership
Of the Eastern Illinois. and in justification
of the payment of $3.50 share for Eastern
Illinois common stock, Eaid that the advan-
tage of having an entrance to Chicago was
very great in itself. Furthermore. he
thought that the Frisco line would build up
a good deal of new traffic which 1t does not
now get. The cost Of the st. Louis exten-
sion is estimated at less than 100000.