Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1906-02-06
THAT BIC MERCER?
Further Developments in the
$4,000, 900 Community of
interests Proposition.
MATTER OF SECURING OPTIONS
Report That Would-Be Purchasing
Capitalists Have Made Deposit
in New York.

Added to the developments of yes
terday in the alleged $1,000, 900 mer-
ger of tri-city traction, light and power
utilities in the hands of outside CAPT
| tai, comes the information from Dav-
export to the effect that options are
being secured on the stocks of the Tri-
City Railway company, the Peoples
Power company, the Peoples Light
company, and the Mississippi Valley
! Traction company. General Manager
Lardner, in conversation with an Ar
gus representative this morning, de-
clared that no options had been given,
but did not deny that the deal was well
on the way. All that he would say
for publication was that if the purchase
was made it would involve several mil
lion of dollars and be a good thing for
the local properties, and hence for the
people, and whatever might happen,
many of The present stockholders in
the affected corporations would CON
tinue to be interested in the new syn
dictate.
While officials of the local corpora
tons have changed from the fiat de-
malls of the original stories to extreme
reticence on the subject, it comes on
reliable authority that the eastern cap
italists who are anxious TO acquire the
properties have gone so far as to de-
post in a New York financial institu-
ton a fair sized wad of money as an
evidence of good faith.
1t is also asserted that the price
fixed for the stock of the Tri-City Rail-
way company is $160 per share and of
the Peoples Light company, of Daven
port, $3.50 per share. The option. it is
said, is good till April 1, and if the
money is not ready to close by that
time the deal will be off.
Would Not BE Popular.
Notwithstanding such a deal would
probably prove handsome thing for
the stockholders, it would not, as The
Argus has heretofore asserted, be pop
ular in general sense with the pee
pie AS a cold business proposition. it
is nobOdy'S business other than of the
men who have their money invested
and who will naturally dispose of their |
holdings advantageously if the chance |!
comes their way. The exceptional priv /!
ilegeS which the Tri-City Railway COM |
pany enjoys here are such as
perhaps few corporations could have !
secured, and were awarded as an evil |
ience of public approval of an institu-
ion that has been singularly fair aud |
liberal with the people, and not with
any thought, then, at least, that the
rights acquired were for speculative
purposes, although a new company
nay prove as enterprising as the chief
If the corporations involved in the eX-
sting negotiations The consolidated
always of the tri-cities passed into the
lands of outside capital at time when
I meant everything to the plants and to
he three cities. The facilities provided
lave since been ahead of the communi-
les served, and as far as the public
md of the proposition is concerned.
conditions today are the reverse of
What they were when the first syndi-
ate was formed.
But that, as the phrase goes, cuts no
&c now. The legal status of the deal
nut of the question, it will probably go
the would-be purchasers SO
WILL