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Show NEWGMUP Which Promises a New Transcontinental of Great Strength New York, July 28. Although Kubn. lyoeb & Co. made no official announcement announce-ment today regarding the action whereby the holdings of a syndicate in Rock Island, Lehigh Valley and Missouri Pacific stocks were taken oer to prevent further eerlous liquidation, liqui-dation, the company, in connection with English Interests headed by Sif Ernest Cassel, has obtained the largest larg-est single holding of Rock Island both common and preferred The syndicate Is said to have been made up of Canadian Ca-nadian and English operators with English connections, headed by Dr E. S. Pearson, and had for its aim a new transcontinental group. The decllno In the market upset the plan and ne-cessitated ne-cessitated a turning over of the i stocks purchased. I The block? of Rock Island carries control of the property and Is accompanied accom-panied bv the Pearson holdings In Ie-high Ie-high valley, baWash and Missouri Pacific. Pa-cific. Whether the transcontinental plan vill be carried out by the new Rock Island controllers or whether the new Interests will assert their power j In altering the present management.) still depends on unsettled factors j Certain banking interests here have looked on the original Pearson plan ! with favor, and it ls not unlikely that ; steps will bo taken for carrying it out. 1 It is pointed out that while the Pear-j Pear-j son syndicate could not have Inaugur-ated Inaugur-ated a transcontinental system except by getting an actual preponderance of the stocks Involved, the new holders, ihrough associations, should be ablt? to , effect the practical union of the ar-;-:us properties with little further outlay of capital. I Sir Ernest Cassell, the chief foreign j member of the syndicate. rcpreFC-nts ' one of the largest, if not the largest. ' tingle financial Interest in England and it is stated on good authority that the new Rock Island interest took ! I over the stock In question of per- j J manent Investment. i |