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Show DETAILS OF DEAL FOR 'FRISCO ROAD Sock Island Pays Bonus for Property, Prop-erty, Which Will Be Operated Independently: NEW YORK, May K.-Offieial details of the Rock Island-'Frisco . teai were an nounced by J. P. Morgan & Co. , For every share of 'Frisco common stock, par value 1100, Chicago. Rock Island & Pacific Pa-cific will deliver through- Morgan- St Co., 860 par value Id the S per cent gold bonds Of 1913 of Chicago, Rock Island A Pacific, and 800 par value common stock of Rock Island company of New Jersey. President Presi-dent Takum of the St. Louis A San Franclfcco will continue m that capacity and that property will, for all intents and purposes, be operated independently. At a meetlnr of the stockholders of the Chicago, Rock Island tt Pacific Railway company held In Des Moines, Iowa, the deal made by f. P. Morgan & Co. for the sale to the Rock Island of the 'Frisco was approved and the capital stock of the Rock Island increased 820,000,000. There was1 also ordered Issued 818,000,000 worth of 5 per cent" gold bonds In connection connec-tion with the 'Frisco deal. Attorney Carroll Wright of the Rock Island for Iowa gave out the following statement: "The Rock Island secures control of the 'Frisco system. It does not' take over the management of the road, the two re-nratntng re-nratntng independent lines, operated in an" independent manner, but It does secure control of the capital rtock. The Rock Island now has two outlets to the Gulf, one by way of Galveston and one by way of Sabine Pass." . . |