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Show ROCK ISLAND ROAD MLJEICIZE Holding Companies to' Be Abolished to Meet View of President Wilson. NEW YOIIK, Jan. 31. Complete reorganization re-organization of the system of railroads originally known as the Chicago, Bock Island & Pacific lines, including the abolition of its two holding companies, known ns tho Bock Island company of New Jersey and the Chicago, Rock Island Is-land & Pacific Bailroad company of Iowa, is likely to bo announced in tho near future. Lawyers representing tho system are at work on tho details, which will probably be submitted for ratification to tho intorstatfl anmrnprno. commission. Bock Island stocks wore weak on the exchange today. When these plans aro carried out they will leavo only ono company where threo now oxist, and the management and operation of tho sj'stem will bo un-dor un-dor control of the Chicago, Bock Island & Pacific Railway company, an Dlinois corporation. It has been known for Borne timo that tho leading interests in those lines contemplated con-templated tho abolition of tho holding companies in conformity with the wishes of tho administration at Washington. Wash-ington. In abolishing them it will be necessary to provide for other issues of securities in place of ! per cent collateral col-lateral bonds of tho Iown corporation and the stocks issued by tho New Jer-sev Jer-sev corporation. "It was considered possible in financial finan-cial circles that tho move might necessitate neces-sitate formal application for receivership, receiver-ship, in which event the rocoivor or trustees would take charge of the railway rail-way company's stock for the collateral bondholders. |