New-York tribune., 1902-12-10
PLANS FOR HOOKING VALLEY.
7. ?. Morgan & Co. Send Out Blank Syndi-
cate greement-Strength of
the Stocks.

The strength of the Hooking Valley Railroad
Company stocks during the last few months mas
been taken by Wall Street to indicate that i'm
portant plans affecting the future of the prop
erty were developing, one report having been
that the preferred stock was to be retired and
another that the road was to be turned over
to one of the larger system. Apparently both
runnors were correct.
The Hooking Valley Railway Company was
organized in February 1889. as successor to
the Columbus, Hooking Valley and Toledo Rail
way Company, which sold under foreclosure
in that month. and bid in by a syndlcate
headed BY J. P. Morgan &c Co. That firm. 1t De-
came known yesterday, has sent TO a nuThoer
of leading bankers a blank syndicate agree
nent dated December A. 1902 this paper be-
ginning with the statement that IL is matter
of common knowledge that the preferred snare
holders of the Hooking Valley Railway Com
pany desire the retirement of their stock, ana
going on to ask for the deposit of common
stock the syndicate to be empowered 10 vote
such stock for consolidation. mergers. and other
ARRANGEMENTS as from time to time the syndi-
cate may deem best"
1t is also provided that the stock deposited
under the agreement shall be held for the COM
mon benefit, and that il the syndicate managers
deem best the stock shall be sold in such man
ner and on such terms shall be deemed peSt
by them. with the approval of a subscrlpers
committee Of three members, with fun power VI
behalf of the stockholders to approve ana CON
firm any sale OF the common stock oeposltsu aS
proposed by the syndicate
For the purpose of determining the pronC OF
any sale that may be made, the common stoch
Is to be rated on deposit at S91 90 a share. the
market price on December 4. Each subscriber
is to bear a share of profits or losses Inc
agreement is to become effective when oo,lOo,
or over one-half the shares of the common stock,
shall have been deposited. II no sale shall have
been made by December 81, 1908. the agree
ment will then be dissolved. If g. sale snail De
arranged J. P. Morgan & Co are TO receive as
CONDENSATION for their services one-fifth OF the
net profits There is S15,OOOOOO of Hooking
Valley preferred stock. That stock has paid this
wear 4 per cent dividends, and its price at the
close of the market yesterday was 9612- 1t
must be retired at par. The common, on which
the dividend this year was 5 per cent closed
yesterday at 1O1A.
1t has been the prevailing belief that the
Hooking Valley, which taps the eituminous coal
fields of Ohio, would ultimately be acquired BY
the Lake Shore road. with which il connects at
Toledo But at Toledo 1t also forms direct
which has Just passed under the control of
syndicate, several members of which are closely
identified with the ST. Louis and San Francisco
Railroad Company as we'll with the Pere
Marquette and one of the members of which is
Thomas F. Ryan, who IS influential in the Hook
ing Valley as we'll as in the Pere Marquette. and
II is reported in the Street that both the Hook
ing Valley and Pere Marquette control VIII be
taken over by a holding company. the Hooking
Valley preferred stock being retired as part or
the operation.