New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-11-27
MAY DIVORCE ROADS
NEGOTIATIONS ON.
Frisco and ROck Island to
Part. II Is Expected.

Negotiations are in progress, il was
learned yesterday from good sources,
which. II brought 20 successful cOnclu-
sion. viii result iu the Withdrawal Of the
ST Louis a. san Francisco Railroad Com
pany from the Rock Island system. Of
which IL has been a part for more than
Elk wears.
Reports % serious differences between
b p Noakum, chairman Of the executive
committees Of the Frisco and Of the Chi
cage. Rock Island & Pacific Railway Com
panv. and eX-Judge William II. Moore and
D. G Reid. the controlling interests in the
Rock Island system, have been current
for more than a week and have been de-
MED IN high quarters. but all questions as
20 whether Mr.. Yoakum would sever his
relations with the Rock Island have been
met with the suggestion that Mr.. Yoakum
himself was the man TO ask. and Mr..
Yoakum has given no answer 10 questions
IN that direction. The present understand
ing is that the control Of the property
will probably pass TO him and his assoc
ciates. including. 81 was said. Edwin Haw-
ley. with whom Mr.. Hoakum Joined re-
Gently in the purchase Of control OF the
Missouri, Kansas q Texas
The control Of the old Chicago. Rock
Island and Pacific Railway Company was
acquired IN 1892 by the Moore Reid Leeds
interests. who soon afterward announced a
rather complicated plan. through which
the old company was succeeded by three
corporations-the Rock Island Company.
the Chicago Rock Island & Pacific Rail-
road Company and the Chicago. Rock ISL
and q Pacific Railway Company The
entire capital stock Of the railroad COM
pany was taken by the Rock Island Com
pany. and part Of the capital stock Of the
latter company and an issue Of collateral
trust bonds Of the railroad company were
exchanged for about s7O.0OO.O00 stock OF
the railway company.
THE FRISCO TAKEN OVER.
In May. 1872. il was announced that the
Frisco would pass into the control Of the
Rock Island. and under the offer then
made SIS 800 Of the Frisco common stock
has been turned in. the owners receiving
for il O. in Rock Island company common
stock. So in preferred stock Of the same
company and 60 I'm a new issue Of col
lateral trust bonds NJ the Chicago. Rock
Island & Pacific Railroad Company. bear
ing per cent interest and maturing in
1913 There are outstanding S5.eoNGo0 first
and Sls.Oooao second preferred stock Of the
Frisco. the SIS. 9io.3a0 common stock. out OF
total authorized Se9.os) go therefore rep
resenting control. This common stock is
pledged collateral under the collateral
. trust - OF 1913. and therefore cannot he
released until the retirement OF the bonds.
which. however. are subject TO call on six
~ days notice. at l02ia and interest The
bonds have been extremely active in the
last two business days, and have risen in
that period from sSls 10 9s. closing yester-
day at s6E.
Mr.. Goakum, who was president Of the
Frisco at the time il was taken into tie
Rock Island system. was credited with
having been one Of the largest stockhold-
ers. and therefore would have receive a
large proportion Of the Chicago Rock Isl
and & Pacific Railroad Company's collat-
eral trust IS in exchange for his holdings.
with incidentally a correspOndingly large
block of the Rock Island Company's COM
mon and preferred stock. He and H. Clay
Pierca, James Campbell, ". X. Bixby and
Is. l.. Cheney, who united with him in
recommending 20 the stockholders accept
ance Of the Offer made by the Rock Island
interests. were said then TO own a control
ling amount Of the common stock.
NEXT To LARGEST SYSTEM.
The Rock Island is. next 10 the Union
Pacific the largest railway system in tie
United States, with an aggregate length of
about 1900 miles Of which the Chicago
Rock Island q Pacific Railway and its con-
tUolled lines represent about 500 and the
Frisco the remaining $50 miles. The Frisco
lines, which include the Chicago & Eastern
Illinois, the Evansville & Terre Haute the
Kansas City, Fort Scott e. Memphis. the
Kansas City, Memphis & Birmingham and
the Colorado Southern. New Orleans g.
Pacific, reach Chicago. -. Louis and
Kansas City on the north. and Birming-
ham. Ala. on the east. the principal mileage
being IA Missouri, Kansas. Indian Territory
and Texas The Colorado Southern. New
OrleIns & Pacific. however. which extends
from Houston TO Baton Rouge. with track
age rights thence 10 New orleans. is not
directly connected With the rest OF the sys-
ten
Tic Frisco goes down 70 Dallas and Fort
Worth. and from those cities 10 Houston
and 30 Galveston. GA the Gull. the con-
nection is through tie Trinity Z Brazos