New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-12-02
BUY FRISCO STOCK
ROCK ISLAND SELLS.
Yoakum and Hascley Noe
Control Railroad.

Control of the St Louis & san Francisco
Railroad Company passed yesterday from
the Chicago. Rock Island a. Pacific Rail-
road Company. in which IL lAad been lodged
eince 1893. 10 a syndicate OF which h. +
yoakum and Edwin Hawley are prominent
members. the property thus becoming part
OF the so-called ''FEawley system" New
presidents were elected for the Chicago,
Rock Island a. Pacific Railway Company
che operating company OF the Rock Island
system proPer) and the ST. Louis a san
Francisco. and the executive committees OF
the two companies. heretofore Identical I'm
membership. were reorganlzed. that Of the
Rock Island now containing exclusively
Rock Island men and that 81 the Frisco
only MI HOakum and men associated with
him IN the new control. The Rock Island
management gave out after the close OF
business yesterday statement which said;
The Chicago Rock Island & Pacific
Railroad Company OF Iowa, TODAY solo
sno delivered 10 Mr. =. = noakum ana
Others common stock 81 tie -. Louis a.
San Francisco Railroad Company. repre-
senting the controlling interest and being
Rock Island g. Pacific Railroad Company
has heretofore owned in that COMPANY.
a meeting % the hoard Of directors OF
the Chicago Rock Island & Pacific Rail-
rond Company was held this morning,
proper authority was given ana the trans
action was later in the day closed.
one 81 the reasons for the sale was the
legal advantage. II not necessity OF
separation ~ the Rock Island and Frisco
properties. a question having been raised
both by the federal government and Ger
tain state governments as 20 the two roads
being parallel and competing The Rock
Island and Frisco railroads Will hence
forth he operated aS separate properties,
,eIe nSNlns -. = ooiilllets lesaa
between them. notwithstanding this. the
friendliest feelings exist between those
IN control OF the two ROADS. and II l. IN
tended that they shall he operated 10 the
mutual advantage ~ both wherever II
may properly be done.
The directors OF the Chicago, Rock Island
& Pacific Railway Company elected II. L
Nudge and +. 5. Moore, the latter a son
Of eN-Judpe William X. Moore. as success
ors 90 MI Yoakum and James Campbell
m the executive committee which is now
composed z ID. . Reid. "a. n. and J. II.
Moore. Francis L. Hine r A. jackson and
the two new men. Mr. Reid who is chair
man 81 the board. WAS elected a. well
chairman Of the executive committee. re
placing Ar. Yoakum. Mr.. jackson. who is
vice president 81 the railway company as
well a. president o. the Rock Island Com
pany. was made vice-chairman Of the eN-
ecutive committee. and Mr.. Nudge. who
has been for several wears second vice
president q the railway company, was
elected president 10 succeed r. J.. Win
chell Other charges In the official staff
viii be made to-day.
NEW EXECUTIVE COMMITTEE. 90
The directors Of the Frisco also made
sweeping changes IN the executive CON-
mittee. electinE Edwin Hawlev, B. l..
Nmchem Prank TRANQUIL i. Y. r.
Thayer and Thomas d West Of ST. Louis.
IN place Of Mr. Reid. William Il. and J. h.
Moore. Mr. Hine and Mr.. jackson. the only
remaining members OF the cd committee
being Messrs. Yoakum and Campbell. Nh.
Noakum was reelected chairman of the
executive committee AID Mr. Winchell Was
MADE president q The company.
The Frisco las S5.O0oa00 first preferred
and sl6.OloOs0 second preferred stock. and
:2seo0.u00 common. Of which. s2S.s4 &c., con-
stitutiug q clear stock control OF the prop
erty, has been owned boy the Chicago. Rock
Island q Pacific Railroad Company, which
has transferred its entire holdings 10 Mr.
Goakum and his associates. These hold
ings 81 the common stock have been de-
posted as collateral FOR 81 Sc. lsa rer cent
collateral trust bonds q The railroad COM
pany, which mature in 1913. but which may
De- called al any time AT l02l.. The neces-
ssry presumption IL. although no statement
on the subject was made yesterday. that
tie bonds. which have for several DAYS
been rapidly advancing and yesterday sold
e. lmi.. ere 10 be called al once.
The price at which the Frisco stock goes
10 the Yoakum interests was not disclosed
yesterday. nor could TIE complete list 81
the purchasing syndicate be- obtained. From
the election Of Mr.. Hawley aud M Trum-
bull 10 the Frisco executive COMMITTEES.
however. which signifies that they lad pre-
Viously been made members II the board
Wall Street believes that the syndicate is
practically that which took over the Chesa-
peakc A Ohio. and more recently the Ms
SCUM, Kansas & Texas Mr. Yoakum hav-
tng been an active figure In the latter
transaction and having entered the board
end executive committee OF the Katy
FRISCO AND KATY"
The Frisco system. aggregating ESQ.,
miles IN length and having its principal
mileage in Missouri. Kansas The Indian
Territory and Texas, is parallel ami COM
p,tcs with the Missouri, Kansas q Texas
- that II would not be possible for both u
be embraced in any general Hawley system
Of the future. Rumor accordingly las II
that THE latter property viii oe turned over
70 the ~. Paul. which IN the past hiss been
reported DESTROYS Of getting il as an
outlet 10 the Cult The Rock Islaad SINH
larry Is reported 10 he planning a system
which shall give Il connection TO tie At
lantic sea aboard through the control 81 the
Lehigh Valley road. into which the Moores
snd Nj Reid are understood 10 have beer
buying heavily Of late, and the WABASH in
which they are reported 10 have acquired
an important interest
Benjamin ! Wincheu. who leaves the
Rock Island Railway presidency 10 take
fha Mac recenrlN $4,000 hA- Tie rellre-