Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1907-08-27
CLOVER LEAF GETS
ALTON PRESIDENT
MAKES STATEMENT

Tor the fiscal year ending June 80,
1908, to maximum of $1,010,22S.95
for the fiscal year ending June 80,
1907, the only hisk to the Toledo, St.
Louis and Western will be 100000
for the first Ave years and 100000
for the second five years This risk
seems very light as compared with
the benefits to be derived from the ac-
QUESTION of the Alton property.
Roads Financial Record.
"The Toledo, st. Louis and Western
Railroad for the year ending June 80,
1907, showed surplus of $500, 69227,
which is 4 per cent on it's preferred
stock and over 2.6 per cent on its
common stock.
The additional traffic which the
Toledo, st. Louis and Western should
secure because of it's acquisition Of
the Chicago and Alton should result
in putting its common stock on a
permanent dividend basis within
reasonable time"
1t Is believed in Wall street that the
sale Of the Alton by the Rock Island
Is made to forestall any action the
government might take to force the
Rock Island to divorce the Alton sys-
tenn, which is competing line, from
Its control. 1t was looked upon as a
healthy solution Of one Of the grave
questions that have been causing seri-
Gus anxiety in financial circles.
The Alton system for years has been
a subject of controversy and compe-
tftion among several of the big west
ern trunk lines. Hartman became a
although owning only minority inter-
est with the aid of Hawley. The Rock
Island CLIQUE bought controlling
stock interest but Hartman persuad-
ed that interest to agree to scheme
for alternate control of the Alton.
Join Against Hartman.
AS result of the exposures Of high
financing in the recent investigation
by the government Of Harriman's rail-
road methods the agreement between
the Rock Island party and Hartman
was abrogated, leaving the western
men In control. In selling that con-
troll to the Haw]ey grouo the Rock
Island men have put 1t into the hands
Of friends who will work with them as
against Hartman.
1t Is generally believed in Wall street
that the Rock Island crowd aided the
government in exposing the financial
jugglery. which they discovered after
they secured control Of the books. 1t
Is known that William H. Moore and
Daniel G. Reid, who dominate the
Rock Island system, have been opposed
to the Hartman interests in the stock
market and have harassed them dur
ing the recent big declines. They are
credited with helping the government
in its recent prosecution Of the Stand
ard OIL company. which was found
guilty Of being favored with rebates
by the Alton while under Hartman
CONTROL Thus the Rock Island mag
mates have also secured double satis-
faction against Hartman, whom they
accused of milking the Alton for his
own purpose and turning it over to
the Rock Island in an Impoverished
condition.
History of Glover Leaf.
The Toledo. Peoria and Western road
has had quite spectacular history.
which is interviewer with the history
of Paul Morton, former Secretary Of
the Navy and T. P. Shonts, former
head of the Panama cana1 commissions.
Shonts and Morton are still supposed
to own the road and the sale Of the
Alton to the Clover Leaf Is supposed
to be move on the part Of Shonts
and Morton to turn an unlucky in
| vestment into winning one.
| These two men secured control Of
the Toledo. Peoria and Western road
soon after their famous coup in selling
the Three Is to the Vanderbflts. The
latter road was purchased by them at
low figure. and then Morton and
Shonts threatened to extend the road
to Detroit and Toledo paralleling the
New York Central lines. They engi-
neered the affairs of the company sc
that mass meetings were held in De-
troit and In Toledo. at which warm
resolutions were passed urging them to
extend the Three rs to- those cities
and promising financial aid.
These moves so frightened the New
York Central people that acting upon
the advice of w. C. Brown, now senior
vice president Of those roads the New
/ York Central Lines annexed the In
diana. Illinois and Iowa road, which
has since become the outer belt Of
the New York Central Lines System
In that deal Shonts and Morton eacf
cleared nearly $1.ooo.00o. Their sue
cess gave them the idea Of purchasing
control of the Toledo Peoria ant
with it. Several times Mr.. Shont:
having come SO close to completion
that certain insiders" were advised
to buy Toledo, Peoria and Western
stock.
Will Patch Out Line.
When Mr.. Shonts was appointed
head Of the canal commission he re
fused to resign as president of tn
road. and President Roosevelt permit
ted him to continue in that capacity
This ract caused some criticism an
| is said to have had little to do wit
. his leaving the canal commission. I
is supposed that Shonts and Morto
, desire the Alton to patch out tn
c over Leaf which is said to be roa
which begins nowhere and ends no
where" It's single line is between To
ledo and ST. Louis where it connect
with the Alton, giving it an outlet t
the Missouri river. The Clover Leaf
common stock Is $4,5o0.o00 and it
, funded deft $4,S95 nrn while its earn
ing capacity is about s1.20o,ooo. Th
: Atoms stock consists of s19.544,00
preferred and $40 $4,000 common an
: its funded debt amounts to s43.546,65
a It's earning capacity is about $4,000
t 600 yearly.
REAL ESTATE TRANSFERS.
Furnished by Ottumwa Title and Loa
Co.. Summers Building, Corner
Court and Second SITS.