Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-12-02
FRISCO TAKES
DIVORCE FROM
ROCK ISLAND
MERGER OF BIG RAILROADS
FORMALLY DISSOLVED
Fear of FEDERAL Intervention
Believed Responsible for the
Chaogei Yoakum ard Win
cbeIl in Charge,

IBy Morning Journal special leased Niref
New York, Dee. l.-SiN thousand
five hundred miles of railroad form
ing the ST lonis and san Francisco
Railroad company changed hands IN
New York today hv It's severance from
the Rock island company, with which
it Was merged in 1903,
The purchasers are =. +. Hoakm,
former chairman Of the l'riseo-kock
Island executive committee, and Il. J.
WincheH, former president OF the
Rock Island. who now becomes presi-
dent of the Frisco. It is understood
that Messrs Winchcn and Yoakum
have as their associates in the deal
some OF The leading capitalists of the
middle west including Adolphns
Busch aud r. Estus J Wade Of 81,
Louis.
All accounts agree that the disso-
luton was brought about by fear Of
federal intervention The Rock ISL
ana and Frisco lines parallel and tap
each other at various points ana
there il reason to believe that the IN
terstate commerce commission had
taken eognizanee of the fact,
Another interesting phase of the
transaction. the current belief that the
Frisco will form some alliance with
the lines of Edwin Hawley the new
conner in the railroad world, who re-
Gently acquired with =. r. foakum,
control of the Missouri. Kansas X
Texas At the same time. the rela
tfons of the Frisco aud Rock island
arc to be friendly and for the benefit
of both. According to official state-
ments the interests now in control OF
the 81. Louis 4 san Francisco, viii OPP
crate that road as an Independent
property. although the actual transfer
cannot he affected until the Slt,abA,-
/ 600 OF five per cent collateral bonds
/ OF tho RocF Island. which coltrcl
4 $40. 0A0 N80 III 81 ieais & san F1an
] cisco common stock, have been re-
/ tired The redemption price is lo2 J..
! ana large quantities of the bonds have
recently been sold ON the stock eN'
change at steady advance from %
! to rO1 ~, the latter price heint
reached toCaY A formal Offer OF re-
demptlon. II is said, viii be made a
once.
J Inc st lstUlN ~ f1tRii . '''''' w.
organized IN 1896 as the successor o
/ the railway Of that name which nae
been sold in foreclosure, When takel
over hv The Rock Island, control %
the property rested with y, +. Noak
um and his friends, and Mr. NoakuH
was made chairman Of the Rock Isl
and executive committee
Credence is given tht rumors or
Yoakum-Hawley alliance IN more
ways than one Besides the katy
purchase they have other interests II
common. Mr. Hawlcy comparatively
a new figure in the railroad world, Is
redited with the control of the Ches'
apeake & ohio. the Chicago n Alton
Minneapolis & 81 Louis, the Iowa
/ Central, and the Toledo, st, Louis
western. lie is interested in Hook
4 ing valley. Toledo & ohio Central
/ Western Pacific. Atlantic Coast LIN
/ and Louisville & Nashville.
! The ST. Louis * san Francisco ha'
not been a very profitable subsidiary
of the Rock Island system. for tn
Rock Island, being responsible for th'
Frisco bonds was practically paNin
what the Frisco did not earn Bot
roads. therefore. look Tor improve
mcnt under the new arrangements