Ogden Daily Standard | 1914-12-22 | Page 1 | Rock Island Stock Bid On

ROCK ISLAND ST0CKBID ON Millions of Dollars Represented Represent-ed in Property Auctioned Off on N. Y. County Courthouse Steps. New York, Dec. 22. Ownership of a railroad, represented by millions of dollars' worth of stock was auctioned Of 1 today on the steps of the New York county court house The old stock of th Chicago Rock Island and Pacific Railroad company was put up at forpclosure sale and was bid in for $7,135,3(10 xsithout com-pprition com-pprition by James N. Wallace, chairman chair-man of 'he protective committee for the 1 per cent collateral trust of the Chicago, Rock Island and Pacific Railroad Rail-road company, against which the stock was collateral. The foreclosure action was brought by the Central Trust company of New York against the railroad company for interest due on bonds valued at $71,863,000. The price realised for the stock was $lb a share The par value is ?100. The sale was regarded in Wall Street as another step In the pending pend-ing reorganization of the Rock Island system,