Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-15
100000 sum TO
Be USED BY ROAD
pir Amount VIII Be Expended in Re.
Mobilization OF the Rock
Island Southern,
TO IMPROVE ROLLING STOCK
Extensive Improvements Planned Es.
peciaily at Main Terminals
OF the Line

The Monmouth Atlas has the follow
ans to say relative to the rehabilitation
of the Rock Island Southern interur-
ban:
Henri c. Morand, representing H.
p Taylor & Company Of New York
CITY, was In Monmouth last week clos
ing up matters in the Rock Island
Southern railway readiustment which,
II is understood, has Just been COM
Melted. Mr.. Morand and M. A. Walsh,
In conference with local bankers Is re-
ported to have said that practically
all of the outstanding stock has been
exchanged and work of rehabilitating
the railway will be started with the
advent Of spring
According to the plan of readjust-
ment $780, will be available for i'm
proyements on the north line as soon
as final papers are signed.
AS soon as everything Is finished
the business of the company will be In
the hands of voting trust composed
of Albert NJ. Chambers of New York
City, T. P Gaylord of Pittsburgh, w.
W Gurley of Chicago, j. ]. Fleming OF
Burlington, ]. A. Hanley of Davenport,
NJ. A. Walsh of Clinton, H. P. Taylor
Of Pittsburgh, and Henri G. Morand
of New York City. These men will
constitute the board of directors of
the new company it is said and will
control the election of the board of
directors and the operation Of the op-
Grating companies.
Faced Loss.
REIMBURSEMENT proceedings were
started last year after it was evident
that the stock and bondholders faced
loss unless a change was made. I'm
realized hopes as to the earning power
Of the property caused the owners of
the majority of outstanding bonds to
seek remedy and the plan of agree
ment and readjustment was accepted
only after it was carefully inspected
and Endorsed by the companies hold
Southern Railway bonds.
The new company, organized under
the laws Of the state of Delaware is
known as the Mississippi Valley Rail-
way and Power company. 1t has an
authorized capitalization of $4,000, 900
stock, divided into $4,000 GOO preferred
and s2.500000 common The board of
directors of the company authorized
an issue of 1897 200 bonds which bear
five per cent and are dated July /.
1915. They are due July l, 1915. The
new company has acquired all the
stock. except the qualifying shares Of
the directors, of the Rock Island
Southern Railway company. Aledo
Terminal Railway company, Rock Is
land and Alexis Railway company and
Edwards River Power company. All
companies mentioned have been oper-
ated by the Rock Island Southern Rail-
way company.
Companies which accepted the plan
at first and turned over their holdings
were H. P. Taylor & So, Westinghouse
Electric company, Rock Island Con-
struction company, J. ]. Fleming, trus-
tee, People Gas and Improvement COM
pany.
Plan Improvements.
With readjustment plans completed
those associated closely with the rail-
way company expect great increase
In earnings during the next year. Ex-
tensive improvements are to be made
in the rolling stock of the company
and the road and roadbed. Other i'm
provements of minor importance are
to be made al the main terminals of
the line which will be of advantage to
those who travel between Monmouth
and Rock Island A"