New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-01
ROCK ISLAND BOND ISSUE.
CALL FOR s25O,OOO, 900.
May ForesladO5c Intention to add
Another Railroad to System.

The report current in Wall Street on Thursday
that the Rock Island was contemplating an issue
Of S250.oo0oe0 bonds was verified yesterday
when the following official statement bearing
date Chicago, August l." and signed by Presi-
dent Leeds. made public here:
A meeting OF the stockholders Of the Chicago
called by the board Of directors VIII be held at the
County Of Scott and State Of Iowa. October s.
lS9s, AZ 10 o'clock q. m, for the purpose Of con
holders q the coTnF-=y will consent TO ana will 2u-
t4 oiLe ne cIeaIo! oI DohQeu lh4eOteuless W
from time 10 time the board OF directors or the
payable in gold coin Of the United States Of
america OF or equal TO the present standard Of
gate principal sum Of S250et),O0o maturing January
], 1885 and bearing II interest not exceeding
Per cent per annum, payable semi-annually. and
the execution Of mortgage deed Of trust 10
the board Of directors the executive committee.
70 De dated July l. 1898 TO secure all such bonds
Teoeenling or paying. at or before maturity. out
other companies whose properties are now or shall
pJIcLlaSe Lea.g oWneTSilip OF snares OF STOCK or
otherwise by the Chicago, Rock Island and Pacific
enlargement Improvement. extension and equip
nent OF the properties of this company and Of such
acquisition OF other railways and property; for the
stocks Of other COMPANIES; for the purpose of re-
imOursing this company COR moneys at any time ex-
other lawful purposes: and also whether the stock
E3lOerS or the company VIII consent 10 and approve
OF such mortgage or deed OF trust for securing the
said bonds as shall be submitted 10 the said meet
ma de thereof and a1fhmriZjnP sncb mortgaFe or
deed Of trust and indicating the property TO be COW
cred thereby.
The comment in the Street upon this propo-
sition not what might be called entirely
favorable. As a comparatively small amount
Of bonds of the Rock Island system will mature
within the next few years. it was thought that
refunding might be regarded only a minor
object OF the projected issuance of the quarter
billion Of new bonds. and attention was direct
ed to the paragraphs in the call which seemed
TO foreshadow a intention TO add still another
large railway to the now vast Rock Island sys-
tenn. and TO the reference to the purpose of de-
voting part of the proceeds of the new issue to
reimbursng the Chicago. Rock Island and Pa
cific Railway Company for moneys expended
heretofore in the acquisition Of other roads.
The bonded Indebtedness of the Rock Island
Company, including the bonds Of the Chicago,
Rock Island and Pacific Railroad and Railway
companies the Burlington, Cedar Rapids and
Northern, the Rock Island and Peoria, and the
Choctaw, Oklahoma and Gulf, is S215,3 900.
The st. Louis and San Francisco Railroad Com
pany, control Of which was acquired by the
Rock Island Company in May 1903, has $780,
sos. 900 common stock outstanding of which the
Rock Island owns So, 9SS3 and S21, OO0, 900
preferred stock Of two classes. It's funded debt,
including underlying bonds is about $75.000,000.
The Chicago and Eastern Illinois Railroad Com
pany. the greater part of the capital stock of
which was acquired by the Frisco last August.
has outstanding S7.217.S0O common and $780,
zoo preferred stock. and bonds aggresating
S250O0000. The Kansas City, Fort Scott and
Memphis Railway Company has outstanding
$150O0.000 common and S13,500,000 preferred
stock ali owned by the Frisco OF its 500
100000 refunding mortgage bonds, $14.100,000
are outstanding. and the underlying bonds
amount in all to nearly $50. 100000. The Evans
vile and Terre Haute, control of which a few
days ago passed to the St. Louis and San Fran
cisco has outstanding s.. 500 1888 common stock
s., 2S2 All preferred stock. and $6.07S,O00 bonds