Wilmington daily commercial., 1875-05-13
SECOND EDITION.
Railroad Neg0tiaIiens.

CONSOLIDATION or THE WILMINGTON ~ READING
AND THE PROPOSED BALTIMORE AND NEW YoRI
LTNE-wHAT 1T Is ALL ABoUT-REsfGvArIoN OF
TWO wILMISGToN DIRECTIONS.
1t has been known, in railroad circles, foi
some time that consultations were in progress
| between the Directors OF the Wilmington <
Reading liailroad Co., on the one part. and the
representatives Of the corporation known as the
Baltimore, Philadelphia and New York Railroad
Co. The active man in the latter concern s a
Mr.. W. O. Leslie. of Philadelphia. His corpor-
alton, in its present form, results from the con-
soldation OF several very liberal char
Pennsyfyania and Maryland. under the
name of the Maryland and Pennsylvania, "
the "Junata and State line roads, &c, &c.
How much stock it ever had paid ill., or who are
its stockholders, we do not know, but the fran
chises it holds are OF great value and Importance
to any one desiring to f5nid new road between
Baltimore, New York and Philadelphia Some
grading has been done on the line, in Baltimore
county, near Towsontown and extensive sur-
veys have been made up to oxford and through
Chester county. Conjeetures, of course, are
that the Baltimore X Ohio Go. pre behind Mr.
LESLIE but if 20, they keep well concealed in the
rear OF his coat-tails.
The negotiations with the Wilmington 4
Reading have been for consolidation of that
corporation with the b., =. and N. \. This was
approved, finally, by the Directors of both COR
porations and meetings of the stockholders
have been called 10 vote upon it. Those of the
W. r. will meet at Coatesvllc on Monday,
May 81, at o'clock, and those OF Mr. Leslie's
corporation at his office, Gl5 Walnut street,
Philadelphia, on the 29th inst. There is no
doubt We shonld say, that the consolidation will
be agreed to. The stockholders in the Whining
ton Il Reading have long been lost sight of, nm
der the claims of bondholders and are hardly
likely TO make their situation verse by CONSOLE
daton, while they nay better it.
The theory il that the through line scheme
can use portion of the Wilmington g. Reading
line, for route to New York, and that they can al
utilize it as n FEEDER to bring down coal, which
would be shipped over the proposed road to Bal
timore, TINS giving new anthracite supply to
the latter city. Foreign capitalists are very soft
On the subject of good coalcanying roads, and
it might be that mortgage loan could be nego-
tiated in London, by which the bonds of the W.
q Il. could be taken up, and the whole through
line promptly built, making grand consolidated
route, of very valuable character.
meeting sof irst-mortgage bondholders of
the Wilmington & Reading road was held in
Philadelphia, on Tuesday, and committee con-
sisting OF Chas. Baber, Lammot DUPONT. Lewis
VAIN Smith, Matthew Bard, Nm. II. Pile, and
John Shippin. was appointed tc look after their
general interests.
1t may be stated, here, that it is understood
two of the Directors of the road from this city,
Messia. Edward Belts and George w. Bush,
have rendered their designations as members of
the Board, which have been accepted. Mr..
Belts has been in the Board, from the orgah2a
tion of the road. Their successors have not
been announced, to our knowledge.