Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-02-26
1t Is Stated that the Rock
Island Has Acquired the
Frisco System.
THREE coRNERED ALLIANCE
Santa Fe System Said to Figure Prom
inentIy in the New Deal-officiaI An
nouncement of the Transaction Ex-
pected Within Few Days-GeneraI
News.

New York. Feb. 26.-It was stated
positively yesterday that control of the
ST Louis & San Francisco had passed
to the Rock Island, and that the Rock
Island, the Frisco, and the Atchison,
Topeka & Santa Fee had formed three
cornered alliance. There seemed to be
d slight doubt as to whether or not an
actual majority of the stock had been
doubt was professed on the general
proposition that the Rock Island will
hereafter dominate Frisco affairs.
The exact method by which control
was obtained was not stated, but it was
said that the recent buying by certain
powerful financial interests was for
Rock Island account. 1t is assumed al
so that the pooled stock will be turned
over or in some way made subject to
Rock Island direction.
The price paid for the Frisco stock,
it is said, is 1920 per cent in cash and
the balance in notes. In connection with
this version of the status of the Frisco
it was said also that an agreement IN
the premises has been perfected with
the Santa Fe by the Rock Island. ana
that there will be in a sense an inter-
change of directors between the two
companies.
In other words, the Rock Island will
have representation on the Santa Fe
board and the Santa Fee will have rep
IN, hea TSl
ate. Whether the Santa Fee Is a party
to the suggested control of the Frisco
by the Rock Island has not been stated.
Neither Rock Island nor Frisco Off
GERS would discuss the matter, and ali
the information that was to be obtained
came from certain ST. Louis interests
that are acquainted with Frisco at
fairs.
They did not profess to have official
Information, but they we're equally as
confident of the accuracy of their asser-
lions as If 1t We're SO. They said that
they expected some announcement be-
fore they returned to st. Louis about
two weeks hense.
Many rumors were afoat all day in
Wall street concerning tie deal. These.
including one of competitive buying for
control by the Morgan interests, and
another that the Seahoard Air line is
buying the stock. MANY held that j. p.
Morgan & Co. will ultimately be found
in control, in which event it is believed
the property will be turned over to the
Southern railway. There is practically
nothing to show that Seaboard interests
ars, after the property.
Statements that Mr.. Morgan already
dominates Frisco are denied in trust
worthy circles. In fact. it is understood
that the ST. Louis Union Trust Com
pany party holds the balance of power,
the stock being "trustesG" with that of
President Yoakum and his associates.
President Yoakuf has been a regular
visitor at the Morgan banking house
for weeks past, and has held numerous
conferences there with George w. Per-
kns, MIR. Morgan's partner.
In the last, hour of the stock market
the report spread on the exchange that
Morgan & Co. had purchased control
of ST. Louis & Frisco for the Rock
Island company President Yoakum,
when seen at the Office of Morgan &
Co., refused to confirm or deny the re-
port. Mr.. Perkins, of the Morgan firm,
with whom Mr.. Yoakum had been in
conference, was no moro communica-
tive. Dispatches from New Orleans
stating that the Frisco read had bought
the New Orleans belt line could not be
confirmed.