Show FRISCO DEAL IRAL Paving 18 tho Way p 0 y for or the time Proposed He lie funding mind and Scheme New Now York May 10 1010 To pave tho the way for tor Its Ita refunding scheme and at tho the panic time funding part port of ot Its Ita floating debt and ond unifying Its Ita system the thu St Hi JU Louis uia and San Francisco railroad with the Chicago Eastern Illinois has line sl nid d a contract according to the tho Herald whereby tho the St Louis Louie Mem Mern Memphis phi II and amid Southeastern railroad will 11 re me roo nil all the capitol capital stock of ot tho the St tHo StLouis Louis and Quit Gulf railroad d antS wilt will Itself be bc owned by the Frinco The Tho plan In Involves involve volve tho the retirement of ot securities ag og aggregating aggregating N and the Issuance of ot new loW securities aggregating o In connection with the transaction a anew anew new flew boil boia Issue ot of will bu bl authorized to refund St Louis Mem Iem Memphis and amid Southeastern bonds aggregating lag ing III 8 These heso bonds are arc to be bo boa ben bea a n first unit mortgage oh the Southeastern und and liS as additional security tho the South on enste 3 to r has lm entered Into a n traffic agree agreement agreement ment meat by which tho time Frisco and ond tho the Chi Chicago cago and Eastern Illinois joint con comm contract tract that their Interchange bushle s shall shall hall together with ith tIme the local business of ot the Southeastern produce net hot earn earnings lags ings to time the amount of ot every six months above oboe all nil expenses Tho The I rl o now new note noto Issue which will vill bear interest nt tot 6 S per cent rent will bo be used to retire tho time collateral trust n gOld ld notes Issued for tor tho time purpose of acquiring tho time capital stock of ot it the tho Southeastern and to partially reimburse burso burse tho time Frisco treasury for tor advances made In III tho the construction of ot tho time South Bouth Southeastern Southeastern eastern tho the capital of ot wilt will bo ito heIn Increased In from to By y the tho acquisition of at time the St Louis and null uit the tho St Louis Memphis and Southeastern will control mIles and amid will wilt form torm tIme th main line lino extension of at tho the Chicago anti And Eastern Illinois to Memphis both by the tho way of St Louie Loulu anti And Thebes It connects nt at Memphis with the Birmingham line of ot tho time Frisco I system I t The rime univ road which will will bo be formally opened Juno JUlIO 15 IL will also form cram time the maui mall line lino of ot tho the Frisco to N Now Nv w Or baits lenns together with the tho Gould line It will also bo be the time St Louis entrance for tor tho time Oklahoma amid ond Gult of ot the tho Rack hock Island system and becomes the tue main line lino connection between tho time Rock Island and the Fm Isco system through time the Choctaw road |