New-York tribune., 1903-07-29
FRISCO IN CONTROL.
OF EVANSVILLE And T.. H,
E. S. Hooley Succeeded as President
of Latter by B. r. Yoakunl.

At a meeting Of the Board of Directors OF the
Evansville and Terre Haute Railroad Company
yesterday afternoon the resignation of Edwin. s.
Hooley, Of the failed Stock Exchange firm Of Ed
win S Hooley Co., president and director OF
that company and of the Evansville and Indian
apolis Railroad Company and the Evansville Belt
Railway Company. both OF which it controls,
offered and accepted, and B. F. Yoakum president
or the St Louis and San Francisco Railroad Com
pany. elected president and director of each OF
the companies. Included in the official announce
ment Of these changes was the statement that con-
troll of the Evansville and Terre Haute had passed
TO the St Louis and San Francisco.
report current in Wall Street early in the
afternoon that bid had been made OF 50 for
the entire common stock of the Evansville and
Terre Haute Railroad Company. held by E S.
Hooley Co. and Z. S Hooley, individually.
Whether or not this was the price finally agreed
on could not be learned last night but there is good
ground for believing that the figure close to 55
There is outstanding 1888 of the common
stock and s. At OF the preferred Control of the
company obtained in March. 1892, by Mr..
Hooley and Chicago and Eastern Illinois interests,
three representatives of The latter interests, H. H
Porter, jr., George II. Ball and Henry Seibert.
entering the board, and Mr.. Hooley being elected
president. How much of the stock has been held
by M Hooley and his firm is not known. but It is
reported their holdings were less than those of
the Chicago and Eastern Illinois party, the two
blocks together amounting to nearly all of the
mon stock. That stock sold as low as 391a last
week and rose yesterday from Az to 60 at The
close AT % the total cost of the outstanding COM
mon stock would be little under S2,2O00o0 Control
of the road, taking the common and preferred
stocks together. would be assured by the purchase
Of s. 65 600 Of the common stock. which at 55 rep
resents and expenditure OF only S,44s.2SO 1t Is
probable that the Frisco WIFI issue some sort OF
collateral trust bond in payment for Its new ac-
QUESTION
The Evansville and Terre Haute system COM
prises the Evansville and Terre Haute Railroad,
which, including branches, is 1S7 miles long; the
Evansville and Indianapolis, 146 miles, and the
Evansville Belt Railway, miles. The EVansVlIle
and Terre Haute extends from Terre Haute, one
OF the southern termnl Of the Chicago and East
Illinois-a Frisco property since last August
the Ohio River at Evansville. and the Evansville
and indianapolis extends from Brazil, Ind, the
terminus Of a Chicago and Eastern Illinois line
paraIleling that between Chicago and Terre Haute,
10 Evansville. Both roads run their entire length
through the extensive btuminous coal fields OF In
diana. II is credibly reported that the Wabash
although many miles north of Terre Haute has
recently been desirous OF securing the Evansville
and Terre Haute, presumably with the object OF
obtaining access to the coal fields traversed by
the latter system, ana last winter il was widely
rumored that negotiations We're in progress for the
merger of the Evansville and Terre Haute with the
| The Evansville and Terre Haute's connection
with the Chicago and Eastern illinois is by the
which leases the Chicago and Eastern Illinois
Tbe Fyansviile Belt RaWay Which is owned BY
the Evansville and TeTre Haute, extends around
/ Evansville connecting all the railroads reaching
/ the city and having various spurs leading to
manufacturing plants.
The Evansville and Terre Haute has paid no
dividFnds on its common stock since 1901, but has
maintained per cent yearly dividends on the
preferred stock It's total bonded Indebtedness Is
trifie over 100000 As result of its operations
for the year-ended June 3e 1902. the company re-
turned surplus of $o,4Ss, comparing with deficit
of S3S.0G3 for the preceding year.
II was said in Wall Street yesterday that the
taking over of the Evansville and Terre Haute by
the Frisco would facilitate the resumption Of
business by W. L. Stow & Co. Mr.. Stow. who is a
director of the former road. present at yes
terdays meeting Of the board, as was also MI
Yoakum.