The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-07-21
RAILROAD NEWS.
The Rock Island Has a Big Pro-
Ject.
Will Issue New Bonds in Sun: or
$I4O,OOO,OO0.
REFUND OLD ISSUES.
Three Immense Systems Under
One Head.
One Direct Line From Chicago
to New Orleans.
REFUND OLD ISSUES.

New York, July 21.-There is a grad
ual consolidation being effected in the
subsidiary lines of the st. Louis and
San Francisco, and plans are now be-
ing made for the formation of a new
system, to be called the Chicago, ST.
Louis. Memphis and New Orleans rail-
road, which will be 2.Oss miles long.
This viii be a 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 viii authorize the issue of
$40. 600, 900 bonds.
The formation of the Chicago, St.
Louis, Memphis and New Orleans rail-
3 road marks the consolidation ito one
system of various lines which the st.
Louis and san Francisco gathered to-
gether before it was absorbed b. the
Rock Island.
1t is stated that ohenceforth tae Rock
Island Will be divided into thee sys-
TENS, as follows; The Rock Island gys-
TEN. the st. Louis ana san sslac.soo
and the Chicago. st. Louis. n --rphis
and New Orleans The new road win be
composed Of the following branches:
Chicago ana Eastern Illinois, 74s
miles.
St Louis, Memphis and Southeastern.
foy miles.
St Louis and Gulf. 253 miles.
st. Louis San Francisco aad New
Orleans. 233 miles.
Chicago. st. Louis. Memphis and
New orleans Ito be constructed from
Memphis on the west side of thu river
south to Fort Adams). 225 miles.
Illinois Central (trackage from Fort
Adam to New Orleans). 100 miles,
Total. 2.089 miles.
According to statements made, it IS pro-
nOgpd that the Will
with the Southern railroad use the term
inals Of the New Orleans Terminal COM
p pan . and jointly guarantee the bonds OF
WILL ISSUE BLANKET MORTGAGE.
1t is proposed that various securities
which the underlying companies have out
standing will be refunded in part through
the issue of a blanket mortgage covering
all the properties included in the new sys-
TEN. The financial plan will not change
the corporate control Of the road as il
exists today as the holding corporation
that are now shareholders of the constitu-
ent companies.
1t will be several years before the vast
financial scheme is worked out in its
tirety. There will in all probability be an
interchange of securities of these several
companies for those of the holding COM
pany besides the funding of the bonds into
one class
1T is announced that the purpose of the
change Is the economical operation of
Torth and south bound system. being
FUNK line from Chicago to the Gulf. hav-
bg terminals at two Gulf ports. The sys-
em viii have the advantage of excellent
criminals at Chicago, St. Louis Memphis
and New Orleans
The terminals at New Orleans. it will be
remembered. were purchased in cOnjunc-
ition with the Southern railway. Railroad
experts state that the system will
provide line about so miles longer than
the Illinois Central between Chicago and
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 win
remain independent in operation and in
cIude the railroad as it was before the con,
troll Of the Chicago and Eastern Illinois
and the St Louis. Memphis and Southern
was acquired The third system will be
the Chicago, Kansas Memphis and New
Orleans