Show ST. ST PAUL RAILROAD i ITS PLAN PLA Issuing of Treasury Stock Indicates Indicates Indi Indi- cates gates the Effect on Extension CURTAILS GROWTH OF WEST Arrangements E IH Willi Uh t. t IH Poad ul Instead of Building Line Lille to Coast Court New Nev York Aug Formal Formal announcement announcement an an- p of oC the long expected s financial plan of ot the Chicago Mil Mil- waulie R St St. Paul laul Railway company was made mad today The bear of dit di- di t rectors following their meeting held this afternoon announced their decision de de- decision e- e to issue to shareholders of ot rev re- re re record v cord corll Aug 29 D 23 per cent of their holdings In common stock at par lIar y twelve twenty thirds s thereof to be paid for on or before Sept 25 5 and antI tho the remainder er eleven t ent twenty thirds thirds on un or ory y before Nov 12 13 This Tills means that virtually virtually vir vir- 4 all of the common P stock tock now held in the trea treasury ury will be bem m t disposed of only n a small balance remaining re- re after this allotment is ma made e t The plant as announce announced tolla today differs dif dlf- t fers materially from the scheme ne heretofore heretofore here here- In vl view by hy the tho directors Although no l ch Information has previously been given out on the subject sub sub- t jest It is Js known 1010 that the company h had bath l j A t planned to J issue lIl antI and an equal ual amount or 01 more of or convertible con a bonds I l j Istle I Is ue uc Cut lit In ht Half Hair In view of or the change In the r financial titian finan n s' s cial plan of oC the tho company calling for forno forr r no more inure than half of or the original amount of ut capital capita 1 proposed ed for the con construction of or the extell extension Ion planned t it Jt is generally a ruined a that the company company com coin r pany pans ha has al also o made matle some alteration In its Us extension scheme While nothing positive could be learned on this matri mati matter mat mat- i ri ter tel today the opinion was vas held tin In i. i rall railroad oad and banking quarters rs that an anA A arrangement would b be entered into with one of tut the other western railroad Jines lines of or such a nature as to make e it for fOI the St. St Paul to under under- 1 t ic ie building of as many miles of oC sel been n H-n originally Intended fA Such an ar n nt might logically be made a with illi eItha th tilt Union Pacific I- I or I Northern Pacific re-feu re The present out outstanding t the the- company ag aggregates Common Com cont- mon and H preferred Time The new stock lo to be UC i sued will Avill bring the amount of oC common out outstanding up to practically The rh 2 tre treasury stock now no offered wan was authors a authorised eel cd by the thi shareholders rH in 1 1002 1903 JO and had hal b been n retained In the lrea treasury lre ury up 1 Iii m him hi time tune |