The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-04-28
PLAN IS RATIFIED
BY SHAREHOLDERS
Financial Scheme Proposed
by C.. & O. Directors
Adopted
VOTE BOND ISSUE AND
INCREASE OF STOCK
Funds VIII Enable Railway Sys-
tenn to Acquire Hooking
Valley and c. c. and L.
Road.

Plans proposed by the directors OF
the Chesapeake and Ohio for increase
of its capital stock to Sl0o,0 900, 600
and issuance of honda to the extent
of $37.500,00o for the extension OF
the road from the Atlantic to the
Great Lakes were ratlned and adopted
at a meeting of the stockholders held
in the general Offices of the COM
pany In Richmond Thursday at noon
OF the $4,000 outstanding shares,
more than $4,000 were represented
at the meeting. Not dissenting vote
was east. large majority OF the
shareholderse casting ballots by proxy
President Stevens presided and Sec
rotary Treasurer James Steuart Mac
kie. of New York, acted as secretary
OF the meeting. Other officials OF
the road present were Vice-President
Henry r. wickham. OF Richmond,
general counsel. and MIR. A. c. Rear
lex. OF New York. general attorney.
First Vice President Decatur Axteii
was called away to New York We'd
nesday night and could not attend.
Most of the others present were
Richmonders. among whom were Ma
5or James II. Dooley. Mr.. Fred w
Scott, Mr. George Cole Scott and
President William H White, OF the
Richmond. Fredericksburg and Pote-
mac.
President stevens arrived in Rich
mond Thursday morning from trip
20 Cincinnati and other points I'm the
West, having made hurried run
back in order to be present at the
meeting
Bonds TO he Issued.
The hAHas-~hase- issuance Vas a ID
thortzed are IL tWenty-year con-
vertthle gold and bankers have al
ready pure hased S3I.3&e, 600 worth OF
them. in lieu OF the action taken
Thursday
circular notice sent out to share
holders describes the purpose TO the
issue thus.
The bonds now offered are issued
to provide funds. among other things,
for The acquisition OF a majority OF
the common capital stock of the HOOK
Ing Valley Railway Company and OF
a substantial interest in the capital
stock of the kanawha and Michigan
Railway Company: for the acauisl-
ton from interests I'm control OF pend
ing foreclosure proceedings, who have
agreed To acquire the same at fore
closure sale. Of the properties OF the
Chicago. Cincinnati and Louisville
Railroad Company. or of securities
representative thereof: for additions.
hetterments and Improvements. for
the purchase of additional motive
power equipment required by the In
creasing business of the company, and
for other corporate purposes.
The Two Systems.
The Hooking Valley, which runs
from Gallipolis. In the southern part
of Ohio, to Toledo. was taken over BY
the Chesapeake and Ohio month or
SO ago. at which time Mr.. Stevens
was elected president, but Is out of
the new bond issue that the funds to
defray this purchase viii be pro-
cured.
The Chicago. Cincinnati ana Louis
Vile, which Will give the Chesapeake
and Ohio a road into Chicago, is ex-
pected to be purchased at a receiver
ship sale the early part of June. ar
rangements for the purchase having
been practically concluded already.
Increase of the capital common
stock authorized at the shareholders
meeting amounts to s3S,739,7eo, TO
be divided into 367.3s7 shares of the
par value of $100. so as to make the
total amount 100000. eco. consisting
of 1000, 600 shares at 500 each.
The meeting Thursday consumed
less than an hours time.