The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-09-20
SANTA FE SCARE
Again Reported That Standard
May Get Control.
Already Has Two Members of
the Board.
WHO HAS BOND ISSUE.
Supposed That Fifty Million Has
Already Been Sold.
Believed That Rockefeller In
terests Secured Them.
'HO HAS BOND ISSUE.

Officials of the Atchison, Topeka &
santa F'e railway are beginning to cen
ter their interest in the Forthcoming an
nual meeting of the stockholders which
VIII be held in this city on October 25.
It appears that some unlocked for de-
velopments may arise in s-e election OF
directors to succeed those whose term
expires this year.
Two years ago the STANDARD OIL crowd.
which had been quietly buying santa
F'e stock. was successful in securing
representation on the board Of directors.
naming two Of the fifteen directors. The
two were H. H. Rogers and Henry C.
F'rtck. and Mr.. Rogers was successful
IN Securing a place on the executive
committee OF the board Of directors,
placing himself in a position to learn
all plans Of this company, if not to die
tate It's policy, and also placing at his
command valuable information.
The stock OF the Santa FHe is 50 scat
tered that It is a long and tedious Job
to pick up enough to represent a very
large voice in the management of the
company.
However. the s5O,oOO.oOo convertible
bond issue recently sold, practically all
changed hands according to reports of
the New York stock exchange and it Is
DCl1SN 81 lIldL MI Rogers ana MS as
SOciates have secured this big block.
The earnings of the Santa Fe have
proven such as to justify a small IN
crease in the dividends on the common
stock, thereby sending the price of COM
mon stock above par, and in fact above
preferred. This forms a sound reason
for the holders of the recently issued
$50. 100000 convertibles, to exchange th5
same for common stock, according 10
the privilege they have of so doing
which privilege was a. part of the con-
tract in selling the bond Issue.
There is belief in some quarters that
the $50. 00O. 600 convertible issue has been
bought up by the Standard Oil crowd,
and that developments viii show that
they viii convert 1t into common stock.
and enter the coming annual meeting to
force a larger representation on the
board of directors.
Four of the Santa Fe directors are
to be reelected at the meeting next
month, their term having expired. They
are;
f. P. Ripley, president of the system.
Byron L. Smith, Chicago, president
Of the Northern Trust company.
Charles Steele. New York city.
Howell Jones, Topeka, land commits
sioner Of the company.
The recollection Of Mr.. Ripley and Mr..
Jones is assured Mr.. Ripley.s because
Of his high official position with the
company, and because it has been
through his management that the road
has made such wonderful progress since
its reOrganiza ion after the receivership
ten years ago. and the latter because
of the fact that the charter of the
company requires that three members
Of the board of directors be citizens of
Kansas, Mr.. Jones, Mr.. c. S. Gleed of
Topeka, and Mr.. A. G. Jobes of Wich-
tia holding those places.
Consequently, 1t appears that If the
Standard oil crowd tries to force a
larger representation on the board II
would be secured through displaefng
either Mr.. Smith of Chicago or Mr..
Steele of New York, both Of whom have
been for a long time associated with
the Santa Fe, and both of whom Santa
Fe officials would sadly regret to see re-
pie ced.
AT the coming annual meeting the
stockholders will, among other things,
be asked to ratify the lease OF the pro-
perty and franchises of the Oakland
and East Side Railroad company, the
lease of the Western Arizona Railway
company, the purchase of the stock and
bonds of the Denver, Enid & Gulf Rail-
road company, the purchase Of the
stock and bonds OF the Arkansas Valley
Railroad company and the construction
OF that road also the purchase of the
stock and bonds Of the Holly & Swink
Railway company and the construction
Of its road.