Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1873-01-04
A STARTLING RUMOR.
The Wilmington & Reading Railroad said
to have been Gobbled up by Its Rich
Rival-Mr. Gowen to be made It's Presi.
dent.

In the Reading Eagle, OF Friday last,
appeared lcticr from Philadelphia, which
very decidedly deserves the old-fashiOnch
beading, "Important II True" The head
lines, furnished we presume by the editor
of the Eagle, are quite significant, and are
as follows
The Berks County People Honest, Thrifty,
industrious, but not Sharp pay
their Money TO Build a Railroad upon
Promise hv tho Wllmlngtonians and
Coatesvllc People that Il will be run
in the Interest Of People Living Along
the Line, and the Co,tcsville and VIII
mington People "t,o Back On Them -
Shops not to be Rcmoved--Tho New
Depot 10 be Built the Coming Year
Wilmington and CoateFville have Com
peting Lines of Railway, but Reading
Is Left High and Dry--frankliu B.
Gowen TO be made President Of the VIII
mingtoL and Reading Road al their
next Auuual Election.
Thus introduced, the body of the letter,
dated Philadelphia, Dec. 10Th, lsf2, is as
follows:
As | wrote you, some time ago, with the
understanding that no publicity should be
given TO the statement until further devel-
Opments, the rumor Is now on the street,
and is generally believed TO he true, that
the P. & X. X. X Company have procured
a controlling interest in the Wilmington
and Reading Road, and as the latter road
holds the majority of stock In the Berks
County Road the last named corporation
also passes into Mr. GOw6n's hands. This
Ia merely a rumor, 10 he sure, yet II Is
believed by leading railroad men, one of
whom, upon being asked, replied that be
",belleved II TO be true"
The feat was accomplished, for II Is re-
garded as one of the most splendid stra-
tegic movements, on the part of Mr.
Gowen, by purchasing majority of the
shares of stock from snch stockholders
as the Duponts aAd others--and he now
makes good his assertion that the :" Berks
County Railroad would never become a
competing line with the P. & r. Railroad "
Mr.. Gowen Is wide awake and understands
what be IL about, and he has figured out
that It would be cheaper to buy the Will
mington and Reading road at an advance
of several hundred thousand dollars than
remove the shops from Reading. The
PHILADELPHIA and Reading road virtually
has made the city Of Reading, and for Its
creature to 70 hack upon its creator is an
anomaly unknown In railroading. H'ie.
after the interests of the city Of Reading
are indissolubly connected with the Inter
ests of the corporation which has made
her what she is, and il is be hoped that
in the future the citizens of Reading viii
appreciate the advantages which they en-
JOY.
The new depot at Reading will actually
be built tho coming year. have seen th'
draTls and plans, an there Is no mistake
about il. The p. & X. II. Company vii
exercise towards the eity.Of Reading thu
greatest kindness, discriminating In iayo
OF the city IN freights and passenger fares
and this action on the part of the road l.
calculated TO wiz popular favor.
! will, | think, be able TO send you, In
few days, the names Of the p. & r. Rail
road men who will 20 into the Wilmington
& Reading Board of Directors.
Thc Eagle cdltoraily comments on th
letter as follows: We invite the attention
of our readers to sour Philadelphia Let
ter" published in another column.
. If The rumor referred to tho leiior !
found 10 he correct, history In railrOadin
( In Reading Is but repeating itself, for afto
, the East Penn. and Columbia roads wer
built aud In running order a contr0llin
, portion of the stock in each corporation
was purchased by the T. x Il. Road, an
the anticipated advantages from cOmpetI
4 ton IN railroadng to Il aiding, PASSED int
I the far distant future. Our CORE spondcI
+ says that the =. &. r. road "made II
e City Of Reading what she is." From th
= assertion We most respectfully dlsscnl, an
5 in reply believe that the people are I'll
more powerful than corporations add o
!, the people created corporation, they ca
= also unmuke them Or keep them With
Il proper limits. II the z. q L. Road dea
A Justly with tho citizens Of Reading IL
i people will be cODteul hut it a diilerei
J., policy is pursued they will hy approprinI
= legislation in Councils, provide means f
5 the relief of the citilrns. At best Il
Is ''looseuing up of Reading is only forfl
e present delayed, hut it is not within Il
c power of tho +. e Il. Road io keep ol
competition in railroadiug very long