The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1914-02-03
WEST IS WAITING.
CONTINUED from Page one.)


been watching the affairs Of the Rock
months Frequent outburets from
financial writers have heaped fuel on
the fire. Then came the advent OF
the Phelps-Dodge interests-and still
zation plan and the approval OK the
Interstate commerce commission.
The holding companies Of the Rock
Island seem particularly Objectionable
to the government. according 10 ao-
vice received in Topeka. There are
the three companies-the Chicago,
Rock Island & Pacific railway Of 1li-
nois, operating company: the Chicago.
Rock Island & Pacific railroad OF
Iowa and the Rock Island company OF
New Jersey. The two latter mpanies
are controlled by the Moore-Re!d in
terests.
Here is the lineup. as it stands to-
day.
the Rock Island company of New Jer-
sey are, as has been stated, owned by
the Moores and Reds. Both were
organized in 1902. The c., r. I. & p.
railroad was organized for the pur-
pose of acquiring the ownership Of the
Illinois The railroad-notice the diff
ference between the railroad" and
railway" companies-authori $7b,-
100000 4 per cent collateral bonds and
owns the capital stock Of the railway
company, $54,O00,0O0 preferred and
$96.0OO,0O0 common stock.
This Illinois corporation had out
standing $75,0OO,0OO common stock,
nearly all of which was exchanged at
par for the Chicago, Rock Island &
Pacific Railroad company new 4 per
cent bonds, par in Rock Island COM
pany new common and at 70 in the
Rock Island company. new preferred.
The Rock Island company preferred is
entitled to 4 per cent non-cumulative
cent non-cumulative thereafter.
Bought Other Roads.
In the year Of organization the
Rock Island company purchased all
| Of the capital stock of the Choctaw,
Oklahoma and Gulf railroad and
nearly all of the remaining stock OF
! the Burlington, Cedar Rapids &
The latter two roads were decided in
1902. the first two being leased for
99s years.
In June, 1909, the Chicago. Rock
Island & Pacific Railroad company
acquired $28.s0O,00O common stock
ing for each share 60 in common
stock Of the Rock Island company
and so in new collateral bonds OF the
Chicago. Rock Island and Pacific
Railroad company bearing per cent
and due in 1918. but the entire Frisco
year to B. F. Yoakum and friends and
associates and the bonds issued
against the stock were redeemed foul
years ago this month.
Now the total funded debt Of thu
, Rock Island company amounts t.
$252,3SS,00O.
. The first day of May of this yea
the semi-annual interest is due on thu
!, Rock Island company 4 per cent col
! lateral trust bonds amounting t,
, $1,5OO,0O0. 1t is now reported il
railway circles east and west. that 1
first step in the program Of rehabili
4 tation. Action Of this kind undoubt
t eddy will involve a world Of litigation
Change Is Desired In West.
The west hears little Of the finan
0 cial manipulation of the Rock Islam
: Lines. But every time the turnip !
n squeezed q little tighter the railWa
centers of the Rock Island through
out Kansas feel the strain. Improve
ments that would mean economy an
betterments that would produce prof
its always are suggested by the off
!. GERS In charge only to be sliced froY
y the budget that the operating com
:. pany may pay fixed charges aud div
7 idends for interest
The west has confidence in the fl
!. ture of the Rock Islan1. The we,
y sees increased traffic and big return
from the Rock Island-if operate
T. literally. But the west would like
!. see the distribution OF more none
. in the west-and less along the MAJ
BILE fronts on Wall street
!. Only One "Bromo Quinine"
LAXATIVE BROMo QUININE. Los
Il for signature of e. w. GROVE Cures