New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-07-31
FRISCO SAID TO CONTROL 1T
REPORT THAT 1T HAS SECURED CHI
CAGO AND EASTERN ILLINOIS.
VARIOUS VERSIONS OF THE RUMORED
DEAL-WHAT THE ACQUISITION
WILL MEAN.

A report which there is excellent reason for be-
leving to be true. although official confirmation
was lacking current yesterday in Wall Street
TO the effect that control of the Chicago and East
| ern Illinois Railroad Company had passed to the
| St Louis and San Francisco Railroad Company. A
statement that control Of the latter road now rest
ed with the Southern Railway Company was de-
MED by a representative of J. P. Morgan Co.
According to one version Of the transaction, the
ST Louis and San Francisco has leased the Chi
and Eastern Illinois for nnety-nine years. on
a guarantee of per cent. Another story was that
the St. Louis and Francisco had secured the
absolute control of the Chicago and Eastern Hi
nois through ownership of the stock, and would
issue certificates of control in exchange for present
Chicago and Eastern Illinois stock on the basis OF
about two and one-half certificates for one share
Of stock these certificates TO bear per cent and
to be a direct obligation of the Frisco company
the Chicago and Eastern Illinois stock being the
collateral for the certificates.
Directors OF the Chicago and Eastern Illinois
ferred nquirers to H. Fl. Porter. the chairman of
the board who declined to discuss the matter; and
President Yoacum. of the St. Louis and San Fran
cisco, the only authorized spokesman for that COM
pany. also declined to say a wcrd about the re-
ported arrangement The shares of both roads
made significant advances yesterday. Chicago and
Eastern Illinois common touched 22Gs4. new high
level and closed at 2l9l5. points above Tuesdays
close while the preferred gained one point 81.
Louis and San Francisco common made a new high
record, So gain of AZ points for the day. the
nrSt and second preferred gaming, respectively,
and y points. All these shares have been advanc-
ing for months. especially the Chicago and Eastern
Illinois issues. The common stock OF that com
pany which closed yesterday 2l9z, sold in 1901 as
low 81. and has advanced more than 60 points
since April l. Various reports as to the destina-
ton Of the company's control have been heard In
the last year the most widely believed one being
that the Chicago and Eastern Illinois would &c
TO the St Louis Southwestern. with which it has
a direct north and south connection. It's southern
terminus being ThebNs III. the Mis-
sissippi River from the northern terminus OF tho
Cotton Belt road. Gray's Point. Mo. between which
town and Thebes there Is a railroad bridge over
the river 1t has often been rumored. too that the
Illinois Central to take over the road There
is direct connection between the st. Louis and
San Francisco and its latest acquisition, hut 1t Is
understood high authority that connecting line
about one hundred miles in length Is to be built
from East 81. Louis. opposite s.. Louis. the east
ern terminus Of the 50. Louis and San Francisco;
10 Duvall Ill, on the main line OF the Chicago and
The lines Of the St. Louis and San Francisco eN-
Oklahoma city Okla. and Ellsworth. Kan, and the
company controls also the Fort Worth ana Itlo
Antonio In the spring of 1901 the company also Sc;
Memphis and Kansas City, Memphis and Birming-
ham roads giving it direct line from Kansas CITY
The seaboaTd Air Line is Planning Western ex
tension 10 Brmngham on me C3,mpeH9,n OF wh e.
Louis and san FRANCISCO system an outlet from
as by the acquisition # the Chicago and Eastern
Illinois 1t will soon have outlet 10 Chicago
The St. Louis and San Francisco system has a
total length of 1872 miles. The company,s out
standing capital stock consists of $27 sos, 700
mon, 100000 first preferred and sl6000000 second
preferred stock. The Chicago and Eastern Illinois
has s7l97. 500 common stock outstanding and $3.50
700 preferred both classes paying per cent divi-
dends. The total mileage operated is '& miles. the
main line extending from Dolton Ill twhenCe the
company has trackage rights Of seventeen miles
into Chicago to Thebes the Mississippi. and to
Terre Haute, Ind and another line. with which
the former is connected at two points, extending
from La Crosse Ind, to Brazil in the Indiana
bituminOus coal fields.