Albuquerque weekly citizen. (Albuquerque, N.M.) 1891-19??, 1902-04-19
THE CHOCTAW ROAD.
Bought Up Either by the Rock Island
or the Santa Fe System,
THE RAILROAD SITUATION.

The report that the Rock island had
bought the Choctaw is confirmed ia tn
cr 10y the following telegram from Phu.
adclphia
Announcement was made today ~
Edward u Smith 4 co. OF this city.
bankers that the Choctaw. Oklahoma
4 Gulf Railroad company has been
sold 10 SpcNCr a Co. bankers. of New
York. The announcement is as fol.
lows:
by authority of President Gowau it
Is stated that q majority OF the stock
OF the ChoCtaW Oklahoma a Gulf
Railroad company has been sold To
SpCNcr a co. at the price Of $50 for
the common and $50 for the preferred
both April dividend by the terms of
the sale thus made the purchasers
agree to take at the same price all
stock offered \ circular giving de
tails will be ISSUED to stockholders in
the course Of few days and they will
he asked To deposit their stock with
the Girard Trust company. philadcl.
phia."
II was not officially announced for
whom Spcycr y Co. are acting IS
the April dividend amounts to Sl25
on preferred stock. the price named is
equivalent to $6l25 The dividend on
the common stock per share b. 3 So
Dividends are payable April 30 To
stockholders rs registered April r.
Mr. Smith iutimated today that the
sale would bring over $4,000 600 To
this city, whore m Il of the stock is
held.
Francis b. Gowan. president OF the
Choctaw, said that he was not in a po
sition To talk in detail on the sub iect
He said the transfer would mean a
revolution in the management of the
road, but In what way he could not
say. When asked if the Pennsylvania
company was interested in the sale.
Mr.. Gowan said. You are tuming too
far east
Whether the bond issue recently pro.
joctcd would be forthcoming he could
not say. though he expected the new
management would see the advantage
OF the extension that had been contem.
plated. The decision to sell was taken
after careful deliberation. and he
thought that II was decidedly advauta.
ceous to the property The proposition
OF Spoyor a CO. ne said was the first
bona tde uffer made for the purchase
of the road
The stock issue OF the Choctaw
amounts To 10000 shares of common
par value 81 500 600. and 100. 600 shares
OF preferred, par value 81 00n ouI.
The announcement OF ~. .ule was
made after the stock exchange had
closed a-d little information could bee
had as 10 the prospective purchaser
IlIIri last a.
have connected the Atchisnn Topeka
Santa Fe. the Missouri Pacific. the
st. Louis a San Francisco and the
Rock Island with negotiations for the
Choctaw There is a strong belief that
the last named road Is the real pur.
chaser The belief is strengthened bv
the fact that the directors Of the Rock
Island are about To issue s. GOO eco in
new capital stock
The Colorado 4 southern railroad.
which recently passed into the control
OF Edwin tlawley and associates. is to
De closely affiliated with the Choctaw.
Oklahoma Gulf railroad. The
western extension OF the Cnoctaw will
be completed 10 "A connection with the
Fort Worth a Denver City railroad
which IS the Texas division OF the Col.
oradu Il Southern al Amarillo. Texas
about May !. and il is stated that i'm.
mediately thereafter a through freight
ana passenger service between Mem.
phis, Tenn, and Denver. Colo. over the
Choctaw and Colorado 4 Southern by
way Of Amarillo viii be established II
is also stated that Mr.. Hawley and as.
soclates are liable to secure an outlet
from Memphis TO Savannah Ga. and
that II Is their purpose to ultimately
have a through line between that port
and tn" Pacific coast.
The transportation and traffic re.
partments of the Colorado a. South.
ern road are expecting notice from the
Choctaw Oklahoma ~ Gulf. namkNs
date when the Chpctaw line will be
connected with the southern at Amar.
lilo. Texas, Owing To difficulty In secur
ing rails, the work ON the Chuctaw has
not been completed as soon as was
promised earlier in the year This will
be the most direct route into the In
dian Territory from Colorado and
northeastern New Mexico. and it is ex-
pected that lucrative business be.
tween Colorado and New Mexico and
points of Oklahoma will spring mp as n
result of the development Of the rail-
way system
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Knights Of Columbus.
+ mo mo- @ 10