The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-08-10
RAILROAD NEWS.
Facts and Figures Of the Ne"
Missouri Pacific System.
ReincorpOratiOn of Consolidated
Lines for S24O,O0O,OOO.
ISSUE OF $4,000, 900.
Refunded Mortgage Plans Being
Planned for Entire Road.
Other Items OF Interest IN
Railway Circles.
ISSUE OF SS3,OOO,O 900.

St Louis. Aug. 10.-At the specIai
--sa+ir,z of tho stockholders Of the Mis-
souri Pacific Railway company the nrs'
steps were formally taken for the re-
habilitation Of the finances OF the en-
tire system. Eleven corporations De
came an inseparable part Of the MIS-
souri, Pacific Railway company anu
the organization of an entirely ne"
Missouri Pacific Railway company
with q capital of $240.0O0,O00, also was
authorized r,.;,,,-.,,
The new Missouri Pacific Railway
company will take over the consollcd!:elt
whole. issuing its stock on an equaIIly
for the outstanding stock of the pres
Cut Missouri Pacific Railway company
Fud the lines absorbed today, with
this exception that no stock VIII De
held by the Missouri Pacific Railway
company. BY reason of this action the
stock of the new Missouri Pacific com
many to be issued Immediately viii not
b. much IN excess of the present out
standing total -,
T7resent Missouri Pacific company IS
500. 600 600. of which S77.S17,815 Is out
standing. The total authorized capital
stock of The absorbed lines IS aDo16
Sf62. 100000 of which about $l32,O 0o'OVU
Is owned hy the Missouri Pacific RAN
7vav. company, with about S25,000,000 I'M
Issued. About s. 100000 is in the hands
o. the public. and the stock of the new
Missouri Pacific Railway company 10 De
issued for this will bring the total IS
sue of he new stock up to about SS3,-
GOO 600 The balance of the authorized
issue of $24O 600 600 will be held for sale
and such other uses as may be neces-
s2ry in thu future financing of the COM
The lines absorbed at yesterdays
meeting were tie Kansas & Colorado
Pacific of Kansas, the Central Branch
Railway company of Kansas, the Rocks
County Railroad company of Kansas,
the Nevada & Minden Railway com
Iany of Missouri, the Nevada & Min
cen Railway company Of Kansas, the
Kansas City & Southwestern Railway
company of Kansas. the Kansas City
& Southwestern Railway company OF
Missouri the Fort Scott Central Rail |
way company of Kansas. the kanopons
& Kansas Central Railway company OF
Kansas, the Kansas Southwestern rail |
way of Kansas and the lie Roy q !
Cancy Valley Air Line Railroad COM
pany of Kansas.
All these lines have for years been, to !
all intents and purposes q part of the
Missouri Pacific railway. The action of |
yesterday makes the whole system |
physically and financially one in the !
new Missouri Pacific Railway company. |
which IS to be organized under the laws |
OF Missouri, Kansas and Nebra ska.
To Have New Bond Issue.
When the organization of this new
company IS completed and the ex-
charge of stock finished. the plans I'M
Ger consideration for rennancing the |
outstanding bond issues of the various |
lines will be put under way. The de- |
tails of this are being worked out by |
the attorneys of the company and the |
of the new refunding bond is |
sue and the terms of issue are not vet |
settled. but the total will be in con-
siderable excess OF the present Mis-
souri, Pacific and absorbed lines issues
In order to provide new capital for
reeded Improvement. Estimates of the
Prospective bond issue run all the
way from $50 900, 900 to $3.50. 900. 900 but
the exact amount can not be determin
ed until totals and conditions of the
issues have been worked out
in detail
At the meeting the action taken was
L unanimous. Most of the stock was
voted by Vice President c. S. Clarke