OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, August 08, 1916, LAST EDITION, Image 7

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1916-08-08/ed-1/seq-7/

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IF THERE'S A WELCOME ON THE
MAT IT'S BADLY WORN
Suppose your next door neighbor
should say to you:
"We like you very much and we
would be glad to have you come over
to our house any time you feel that
way, but you must expect to 'find our
door locked and you musn't expect
us to let you come in the house."
That would be a funny line of
chatter eh?
Well, it's nearly the same kind of
chatter the Chicago Elevated Rail
ways makes to noteholders. Trustees
of the' company have decided they
are not going to loosen up and pay
any cash on the notes maturing July
1, 1916, unless forced to it, and note
holders are told that in a formal an
nouncement yesterday that they will
be considered . butters-in and not
plaving the game fair if they ask the
Chicago Elevated Railways to pay
back money loaned. The announce
ment: "The plan for extension of the
two-year notes of the Chicago Ele
vated Railways, maturing .Tulv 1.
1916, for a period of three years, has
been declared effective by tne trus
tees, an overwhelming percentage o(
noteholders having deposited their
notes under the plan. Owing to the
extraordinary advantages offered to
noteholders to accept the extension,
it is confidently expected the note
holders who have not yet assented
will find it to their advantage to do
so. No provision has been made f6r
the payment of such notes. Deposit
ed notes stamped as 'extended' and
with new 6 per cent coupons attach
ed will be returned to depositors on
or about Sept 1 with checks cover
ing $15 for each note deposited."
Reasons behind this nolite turn
down for noteholders given on the
quiet by bond houses to their cus
tomers are: Failure of plans to unify
oraHons of surface and "L" lines,
delay in appointment of a subway
commission, ticklish uncertainty of
traction finance pending action of
subway commission and city coun
cil. Insull interests are now able to
make a showing of a larger number
of "innocent investors" or "widows
and orphans" than if the $14,000,00C
of notes due July 1, 1916, were paid
and wiped off the books.
BAGS TWELVE PLANES
'Ik - . ,iHfe. 952ft
G V YUFJVEtZ,.
Here is the "Fokker killer" of the
French aviation corps. He has
brought down 12 German aeroplanes
and in many thrilling air battles has
had hairbreadth ecapes from death.
o o
New York. Tobacco and circuses
are black-eyed in the will of I. S.
Long, Lebanon county, Pa., farmer,
document stipulating no tobacco
ever shall be grown on his estate,
nor any circus ever pastured thereon,
mMmmmmmmmmm

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