New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-30
l1N1[ST PROMISED IN
FRISCO RECE|VERSH|P
,,over & Co. and the Bankers
Trust Co. Seek Member
Satisfactory to Them.
uF. Y0AKUM OPTIMISTIC
S,vs Securities Are Safe and
stock Will Be Worth More
than Ever-Others Hold
Similar Views.

1-interesuug contest is promised I'm
..,sction with the recent appointment of
-,.yers Of the ST. Louis & san Fran
"a Railroad Company. The develop
-.,ts yesterday pointed concmsivoIy
-, the roads bankers would not sub
N tamely to the appointment Of the re-
.,srs already named. Speyer & Co.
"a we're the underwriters Of the general
IS per cent bonds, OF which approxi-
-,,sly 100000 were placed i'm Paris.
.,tsd that neither their firm nor the
p,rkers Trust Company trustee under
80 general lien mortgage. was consulted
.,,out the receivershtp or about the selec-
eon Of B l. Winchell and Thomas II.
Vest as receivers.
Working in harmony with the Bankers
;,ust officials Speyer & Co. will either
attempt TO replace at least one OF the
-scsiyers with their. own appointee or
ri 4 third satisfactory receiver named.
Il answer 10 criticism regarding the re-
ant sale o. 100000 OF the general lien
4 IN Paris a banker who has had much
"a do with the 'Friscos financing in the
-ast stated that il would probably appear
,hsn all the facts were known that the
New York bankers were not so much 10
lame for this 'regrettable" incident as
vas generally believed
"BF Yoakum. chairman Of the Frisco
0srd OF directors. returned 10 his office
ystsrday from 81. Louis. Several
{auses led TO the receivership," he said.
The property serves the best Of the
sgthwestern territory. New traffic is
tsyeloping on every mile Of the road, and
vs!Ein all turn i'm with renewed efforts
% bring It out and protect every interest
+ every way possible.
Securities Pronounced Safe.
The COmpany's securities are all safe
aid the stock will be worth more than
ser II will take only a little time 10
ssmonstrate this. An amicable adjust
hsnt with the Chicago & Eastern Illinois
. doubt will be made which will be TO
ne mutual interest Of both and friendly
,siHic relations continued, so that both
hes will be benefited and continue feed
z each other as heretofore"
j. & W. Seligman & CO.. Blair & Co.
I'd Robert Winthrop d Co. who represent
Z large proportion of the outstanding
Kansas City. Fort Scott q Memphis re-
hnding q per cent bonds. announced that
3 their opinion, these bonds were in 50
noug a position that there was no neces-
s,y at the present time for the formation
4 a protective committee.
- A committee to represent the Frisco
,Eo-year per cent notes due September
, 1911. has been formed. consisting Of H..
2 Cooper. vice-president Of the Equitable
Trust Company. Charles T. FhOades, vice
resident OF the Girard Trust Company, OF
Philadelphia. and r a. Whelen, jr, Of
Whelen. Duer < Lanahan. Of Baltimore.
A. Ludlow Kramer. Of No 81 Wall street,
Is secretary of the committee, and the
Equitable Trust Company is the deposit
-ry Breckenridge Jones, president OF
ne Mississippi Valley Trust Company, of
& louis. has been added 10 the protec-
I've committee for the refunding 4 per
IN, bonds
Mthougn no representatives OF the
french bondholders have as vet been APP
'o.nted on the general lien protective
committee. 10 was learned that steps would
soon be taken 10 appoint some one who
.Gosld look after their interests. OF the
rs 600 600 Of this issue sold In France
yAOoO o was listed on the Paris
Bourse The Banque de IUnion Parisienne
Is the French correspondent Of S7eyer d
20 and is the largest French bank inter
e,ed IN these securities. II is likely that
this institution will try 10 form an indie
ssndent committee. although its repre-
ssntatives IN this city have not as vet re-
tsyed any definite advices as 20 what &C
ton will be- taken.
H. r. Porter. Of Chicago who is in New
York, stated that the receivership Of the
pccago & Eastern Illinois was purely
aedtors receivership for the conserva-
Ton o. the property, and under no circum-
Stances would involve a foreclosure. IL.
W. Lyford. counsel for the receivers. said
nat every creditor would be paid dollar
inr dollar Kuhn. Loeb & Co have formed
tprotective committee TO act for the mold
~ OF the Chicago & Eastern Illinois pur-
Gaze money first lien coal properties per
'ra' gold bonds and all other obligations
the road John W Platten Is chair
nan o. the committee and the United
ates Mortgage and Trust Company Is
'hs dspositary.