The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-07-31
new ROCK ISLAND.
Company Files Its Charter in
New Jersey.
Is Capitalized at $15O,OOO,OOO
in Common and Preferred.
ARENOUNDERWRITERS
New Bonds Will 30 to Present
Holders of Rock Island Stock.
Over 1000 Miles of Unbonded
Track Become Security.

Trenton, N J.. July 31-The articles of
pany. capital $3.50, 600 O00, which were
filed in the office of the clerk of Hud-
son county. N. J., yesterday, were re-
corded today with the secretary of
state. filing fee of 100000 was re-
quired to have the Incorporation made
matter of state record
The stock is divided into $4,000 shares
of preferred and 100000 shares of COM
mon. The purpose of the corporation is
declared to be to acquire, purchase and
hold subscriptions, stocks, bonds, secur-
tiles, shares and other evidences of cor
porations generally and to merge cor
porations one into another" Dividends
of four per cent on preferred
stock are guaranteed up to 1903,
and of per cent, from that time to
1916. In the articles of the incorDora-
ton the agent of the stockholders is the
Commercial Trust company of this city.
The incorporators are Robert F. Ross.
]. A. Tenant, Walter McDermott, Geo.
r. Tracey, r. F. Tully, John w. Hard
enberg, Oscar L. Gubleman, William J.
Field and George T. Boggs. These are
all directors of the Commercial Trust
company. Each Of the incorporators is
creQ1toQ with uIty SnareS OF STOCK.
New York, July 31-The following
statement was given out from the Rock
Island office: 1T may be officially
stated that under the plan of reor organiz-
alton of the Rock Island road neither
banks, trust companies nor underwrit-
ing syndicates will be required to fur
nish any money. There will be no COM
mission to underwriters. Every share
holder, small or large. will receive the
benefits. For=its present plans the road
does not need any money. The new
stock which each shareholder has the
privilege of subscribing for, 12k per
cent of his holdings at par, will fur
nish all the money need for it's present
plans. The shareholders alone are in
terested and will receive all the benefits
and bonuses
Discussing the Rock Island plans. the
Wall Street Sun says: Conjecture has
been chiefly busy with the market
prices likely to prevail for the new
Rock Island collateral bonds, which it
seems fair to assume will have a rating
somewhere between the Alton 311 per
cent and the new Burlington & Quincy
estimates of the syndicate that the
bonds ought to command a market
price of from 92 to "a do not seem
exaggerated. The new bonds secured
dollar for dollar by the stock of the
Chicago & Rock Island railroad may
well come to be regarded as an ap-
proved security, and as for the market
levels of the new commond and pre-
profound interest to the Wall street
community at large"
The Evening Post says: The an
nouncement of President Leeds that no
underwriting syndicate would be need
| ed in order to put the plan through and
| the further comment made by certain
directors of the company as an argu-
ment in favor of the plan that over two
| thousand miles of the Rock Island sys-
| tenn which were as yet unbonded
| would be put up as additional security
| for the proposed new Rock Island COM
| pany collateral bonds attracted consid-
| cradle attention among bankers. In re-
| gard to the possible need of banking as
I sistance a representative of prominent
| banking firm says: 1T is very true
| that the exchange of securities requires
no underwriting; but if what I hear is
\ true. somebody will have a very large
| amount of bonds to dispose of and it is
| here that some underwriting would
come in handy. We have not been
asked to take any interest, but, if mis-
| take not, some of the Wall street in
! tereStS have~been sounded to find out
how the new bonds would go. A friend
| of the Moore syndicate was quoted as
| saying that the bonds were to be sold
| in the west, and that a Chicago banking
! firm might handle a lot of them. This,
| if true, speaks for itself"
| There are those in Wall street who be-
| lieve that a part at least of the unfriend-
| 1y comment on the MooreS and their
Rock Island recapitalization plan orig
| mated in quarters cordial to the Goulds
| This talk does not go so far as to charge
| the Goulds with being directly RESPONSE
BILE for the attack on the Moores, but It
| is well known that the two interests
are antagonistic.
The Rock Island, with its recent addi-
tions of extensions. parallels Gould's
| Missouri Pacific, and when it completes
| the alliance with the Frisco road a
great system will be under one manage
ment which will tap the Missouri Pa
f1o on aUa cir Ia md OF i,,,x
l ant point.
| The Moores held the Goulds response
| BILE for the failure of the Diamond
match deal, and the great match mon
| Bros. and their associates, long since
passed under the control of Edwin
Gould and his immediate friends.
Kansas City. July 31.-Conf1icting re-
ports are received concerning the con-
| troll of the Chicago and Eastern Illinois
| railroad Reports from ST. Louis are to
the effect that control has passed to
the Frisco system and that the Eastern
Illinois in connection with the Illinois
Central is to be used by the Frisco to
gain an entrance to Chicago.
report which is said to be authen-
tic comes from Chicago that the Eastern
Illinois has passed to the Illinois Cen
trail The report sounds plasible A
fight has been on between the Illinois
Central and the Louisville & Nashville
for control of the Eastern Illinois, in
| which 1t is said the Illinois Central has
won, thereby shutting out of Chicago
a dangerous rival in the Louisville &
Nashville ass-
INCORPORATED IN IOWA
Des Moines, Ia, July 31.-The Chicago
Rock Island & Pacific railway fled ar
ticles of incorporation with Secretary
of State Martin this morning. The
capitalization is fixed at 1925 coo 600
The fee accompanying the articles was
$125,015, the largest ever paid in the
| state The iucoruoratOrS are VILLA yr
T. Rankin OF Chicago, Benjamin 3