The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1912-01-26
500 WOULD LIST
new BOND ISSUE
ROAD WILL USE MONEY TO COM.
plETE lTs TERMINAL STA.
TloNs IN CHICAGO.
ISSUES ! $2o,ooo,ooo
Rumors Affecting Great Northern and
Burlington Are Denied In New
York, but Hiii stocks
Advance.

<1RHAA\0tAO W00
made to the New York stock exchange
to list 100000 worth Of Chicago
Terminal first mortgage 1 per cent,
30-year sinking fund bonds of the
Minneapolis, st. Paul & Sault Ste.
Marie Terminal Railway company
also 100000 worth Of additional
preferred and 81, 200. 900 worth of ad:
ditional common stock of the Mime.
apolis & st. Louis company. The lat.
ter application is in connection with
the acquisition of the Iowa Central.
The 100000 Chicago Terminal
first mortgage 4 per cent bonds were
issued by a subsidiary Of the 500 line
organized to acquire property and CON.
struct terminals in the city Of Chi.
cago.
1t is learned that about 70 per cent
of the land has been acquired, which
1t is supposed was secured for ter:
mfnal uses. The construction of ter.
minal stations was begun six or eight
months ago and will probably take
several months nor to complete.
1t has been rumored that this work
was undertaken not only to accom-:
modate the. 500 line in Chicago, but
with a view to going from that point
to New York over the Erie. Canadian
Pacific and 500 line officials still
strenuously deny that Erie securities
are being bought for the account Of
either road.
As a part of the financial plan, also
ratified by the stockholders, the
$1,285,000 notes of the Minneapolis &
st. Louis will be paid off on Feb. l..
Control Of the Burlington.
Wall street has always been more
or less inclined to credit the reports
put in circulation at somewhat fire.,
quent intervals that James ]. Hill con.
templated acquiring absolute control
of the Burlington railroad for the
Great Northern, through the purchase
of the Northern Pacific's half interest
in the 4 per cent bonds of the Burling,
ton, which r guaranteed Jointly by
the Northern Pacific and Great North.
ern, and which are commonly spoken
of as the Burlington joint a..
1t is authoritatively stated that no
action has been taken by the trustees
of the Great Northern ore properties
on the dividend for the current period.
1t is doubted that action will be taken
within the next week or ten days. II
is possible, however, that it will be.
It is learned from authoritative
sources that the report for the fiscal
year. ending Dec. 81 last, has been
prepared and is being printed in st.
Paul. As soon as 1t comes from the
printers, which will probably be be.
fore the end of the month, it will be
distributed to the holders of the Ger.
tificates and made public generally.
Hill Stocks Are Strong.
In spite of the denial of the Great
officials that there is any.
thing in the. rumored acquisition Of
the Burlington. all Of the. Hill stocks
were strong and active.
Great Northern preferred enjoyed the
advance, selling up to 1924
and closing at 131h. which represent,
ed a net gain OF nearly two points for
the day. The total sales were 1850
Northern Pacific was dealt in to the
of 15.4O0 shares. hut closed
about one point higher than on Satur-
day. There We're heavy transactions
In the Burlington joint 40. but in the
afternoon they sold down fractionally.
20 97M.