In July 1906, he took out advertisements in Chicago newspapers for the "Chicago–New York Electric Air Line Railroad Company", offering 20 000 $100 shares in this firm (the unit shares were later reduced to $25). The company avoided raising funds through bonds or the money market, and relied entirely on selling shares. This was important later -there was to be no need to pay interest on capital. The form of the name -"Chicago" before "New York"- demonstrated the focus of the initial advertising campaign.