, 1866-02-13
0WnefAhip OF the FittabuTgh. Fort
Wayne Il Chicago RAllr0ad-4A Wall
from FtUUhYlVnu(x.

from the Germantown {Pa.,) TeteQraph.1
Hitherto 1t has been generally believed By the
public that the Pittsburgh, Fort Wayne &
Chicago railroad was owned and controlled
confess that such wns our own impression.
and It formed part Of our ground for feeling
proud Of the latter company. regarding 1t rs
extending practically in 3 continuous line OF
rail all the way from Philadelphia to Chicago,
over eight hundred miles. It was with no
although such had formerly been the case, 1t
was 80 no longer; and on inquiry We learned
that The Pittsburgh, Fort Wayne & Chicago
railroad had really passed ont of the control
of our companyl The excuse given by the
latter for selling its interest,", was that
y had realized thereby some sixteen hundred
thousand dollars. On the surface, no doubt
this is true, the stock having risen enough
to enable the sale to be made at that much
profit on the original purchase. But, as the
road Is an exceedingly valuable Que, aud IS
well worth holding ns any in the west, 1t
would seem that Ii might have been worth
while for our company to retain control Of so
important an artery. Neyerthelesslt 1t was sold,
and the road is now IN the hands OF parties
whose headquarters are New York, and who
have 80 little concern for the Pennsylvania
railroad that the Mayor Of Baltimore has
stated In his annual messageto the Councils
of that city that the lending capitalist In tho
ort wayne HQRQt b uAlkEE III S6W 1oFk% l4u
offered three millions OF dollars TO complete
the Pittsburgh md Connel1svil1e road, 20 as TO
nsa 1t as an Independent outlet for the Fort
Wayne Road. Hnd this proposition been ac-
copied, the Pennsylvania Rai1road would have
been severed from its long boosted Chicago
connection, which would thus have become
tributary to Baltimore.
No doubt some Of our readers will feel In
fuced to doubt these statements on account
Of their apparently Incredible character. Yet
1t must be borne Ia mind that when the Penn
sylvanfa company sold its interest In the Fort
Wayne road it had bought at mere nothing
controlling interest ID the stenbenyille une,
which It Is pushing as its main connection.
This, It Ia true, Is 8 strafghter line through
the central West, but It Is not eqnnl to the
other In any respect, and We suspect TINT the
Investment In It Is mere speculation like the
other. Hence It Is probable that when the
stock goes up to the proper figure It will be
sold out as before, and some other project
We do not stop to inquire whether In these
cases pr1yate Individuals, as well as the com
pany, do not make their own profits by thess
advances In stock, though some PARTIES do say
50. ANY business man may reasou out the
matter for himself, without any suggestions
| from us.
As to the probability Of the Fort Wayn,
rnnd seeking an independent Eastern route o
its own, that Is rendered almost necessar,
| from the fact Of the Pennsylvania compan'
adopting rival ronte through the West, an,
it was for this very reason that the 1eailIn,
operator IN the Fort Wayne road made til
offer TO the Mayor Of Baltimore, since he we
knew that unless his company could get sue
an independent outlet, 1t would always be 0
the mercy OF the Pennsylvania company, an
must Inevitably suffer. 1t will therefore b
seen that BY selling its interests to the For
Wayne road, the Pennsylvania company ha
not merely lost the control Of that line, bu
has a1tenated It from the interests of Phlls
delphia. II we should thereby lose the trad
Of that great highway, Of what avail would
be to us 10 reflect that the PennsylyanIa CON
pany had nade sixteen hundred Thousand do
lars by the sale of the stock.