OCR Text |
Show Chicago Car Lines Mi fosipt Jt Now York Capitalists in Deal With Syndicate Headed by Lake City Financiers.. j 3 CHICAGO, Nov. 20. Tho Record-Herald tomorrow will say: "Thirty-six million dollars Is to be paid for the Chicago City Railway company by a syndicate headed by Marshall Field, P. A. Valentino and John J. Mitchell of Chicago and J. P. Morgan, Thomas Ryan and their associates of Now York city. Mr. Morgan's Wall street firm and ono other trust company not yet namcel will underwrite the deal. "The capitalists of the East and West, having Joined hands, will buy up City Railway slock at $200 a share, which la considerably more than tho present market mar-ket price. "It Is said on inside authority that If thero Is no unlooked-for hitch ln the negotiations, ne-gotiations, the unification scheme, so far as tho South Sldo cpmpany Is involved, will be completed by the llrst of the year. In the meantime, tho same Interests which will purchase tho South Side lines will obtain nn option on the majority stock of tho West nnd North Chicago companies, compa-nies, a considerable share of which Is already al-ready at their command." |