The St. Louis Republic., 1903-07-20
Consolidation Being Effected of
Frisco Subsidiary Lines and
Formation of New Road.
NORTH AND SOUTH TRUNK LINES
Chicago, ST. Louis. Memphis and
New Orleans Will Be 2.OS9
Miles Long and Will Be
Operated Separately.


REPUBLIC SPECIAL.
New York. July la.-There is 4 gradual
consolidation being effected in the subsid
iary lines of the St. Louis and San Fran
cisco. and plans are now being made for
the formation OF new system. TO be
called the Chicago. St. Louis. Memphis and
New Orleans Railroad which will be 2oS9
miles long.
This Will be new system of the Rock
Island Railroad and will run direct from
Chicago to New Orleans. For refunding
and other purposes. it is stated that this
company will authorize the issue of Sli0.-
ooo0oO bonds.
The formation of the Chicago. st. Louis.
Memphis and New orleans Railroad marks
the consolidation into one system of vari
ous lines which the ST. Louis and San Fran
cisco gathered together before it was alb
sorbed by the Rock Island
1t IS stated that henceforth the Rock
Island Will be divided into three systems.
as follows: The Rock Island system. the
St. Louis and San Francisco and the Chi
cago. ST. Louis. Memphis and New Orleans.
The new road will be composed OF the fol-
lowing branches:
Chicago and Eastern Illinois. rs miles.
ST. Louis. Memphis and Southeastern. i30
miles.
ST. Louis and Gulf, 253 miles.
ST. Louis. San Francisco and New or
leans. 2GS miles.
Chicago. ST. Louis. Memphis and New
Orleans ito be constructed from Memphis
on the west side % the river south 10 Fort
! Adam. 30 miles.
illinois Central (trackage from Fort Adam
10 New OrleansD. l0o miles.
Total. 2.Oss miles.
According to statements made. it is pro-
posed that the new company will Jointly
with the Southern Railroad use the terIni-
! nails of the New orleans Terminal Company
anG jointly guarantee the bonds of the
latter company.
WILL ISSUE BLANKET MORTGAGE
II is proposed that various securities
which the underlying companies have out
standing will be refunded in part through
the issue Of blanket mortgage covering
all the properties included in the new sys-
tenn the financial plan will not change
| the corporate control of the road as it
exists to-day. as the holding corporation
VIII be controlled by The same interests that
are now shareholders OF the constituent
companies.
II will be several years before the vast
nnarcial scheme iS worked out in its en-
trety. There will in all probability be an
interchange of securities of these several
companies for those OF the holding company
| besides the funding OF the bonds into one
class.
1t is announced that the purpose of the
change is the economical operation of 4
north and south bound system. being
trunk line from Chicago to The Gulf having
terminals at two Gulf ports. The system
\ will have the advantage of excellent ter-
minals at Chicago, St. Louis Memphis and
| New Orleans.
The terminals at New Orleans. IT will be
| remembered. were purchased in conjunction
| with the Southern Railway. Railroad ex-
| perts state that the new system will provide
| a line about fifty miles longer than the
| Illinois Central between Chicago aud New
| Orleans and about the same length as the
| Wabash Missouri Pacific extension to New
| Orleans.
As has been stated. the new line will be
one of three systems OF the Rock Island
| The Rock Island and San Francisco will re-
! main independent in operation and include
| the railroad it was before the control
| OF the Chicago and Eastern Illinois and the
| st. Louis, Memphis and Southern was ac-
| quired. The third system will be the Chi
| cago. Kansas Memphis and New Orleans
Railway Construction Notes
| Track laying has commenced on the Rig
| Sandy branch OF The G & q. from whitehouSe