The New York herald., 1879-12-11
TILDEN AND VANDERBILT.
Is the Sage Of Granercy Park Seeking TO Sup
plant the Railroad King2
KNOWING ONES IN THE DARK.
Something More About the Project to Establish
New Trunk Line 10 the West.

"a
suggested in the HERALD yesterday seems more
and more plausible on further investigation. There
many for thinking that Samuel J. Tilden
has been attempting to get the better of the New
York Central through proposed rival line to the
West and that Mr.. Vanderbilt has been sufficiently
alert to anticipate the move by letting the Wabash
interest into the direction OF the New York Central
at the same time securing and monopolizing
Western connection and extension. The Wabash
road having it's terminus at Toledo passes through
Dne of the most prosperous sections Of country in
the United States and the Eastern line, receiving
the business that would naturally accrue to 1t there
will bring in handsome returns to its owners The
loss of that business the New York Central would
probably have been formidable. That Mr. Tiden
figures prominently in the movement to equip
rival road to the West appears from statements
on good authority that he a controlling in
terest in the Hudson Connecting Railroad Company.
the terminal company; has large interest in the
New Jersey Midland. and. from all that can be
learned, is q large owner in the Oswego Midland
Railroad. The certificate Of incorporation of the
Oswego Midland, which is to be approved next
month. will show that this road Is incorporated
under the name Of the "New York, Ontario and
Western Railway Company" and that Conrad N.
Jordan. president of the hudson Connecting Com
pany and the intimate friend of Mr.. Tlden, is chair
GAN ISTERcHANGISG ARRANGEMENT"
gentleman acquainted with the inner workings
of the scheme against Mr.. Vanderbilt said to
HERALD reporter yesterday :-"Before an agree
ment made by which Vanderbilt was induced to
part with his New York Central stock. the Wabash
road had an interchanging arrangement with
the Great Western Of Canada and the
Grand Trunk, that alliance between
the Wabash and New York Central breaks
MP that combination. The Grand Trunks
only possible entrance to New York is by the Lewis
ton Bridge the Niagara River. using the Rome,
watertown and Ogdensburg and the Oswego Midland
and New Jersey Midland the New York and Green
wood Lake to New York. Now. Tilden a con-
trolling interest in the Hudson Connecting Railroad
Company the terminal company large interest
in the New Jersey Midland, and what his interest
is in the Oswego Midland Mr.. Conrad N. Jordan can
inform you better than anybody else. understand
that this New York connection is qua the
plans of the Oswcgo Midland people The sale OF New
York Central by Mr.. Vanderbilt, you see. prevented
. combination between Mr.. Tilden and the wabash.
This road taps ono of the richest and most pros
porous sections of country in the United States.
development has been remarkably rapid. 1t concen-
trates at the Wabash terminus at Toledo. and the
Eastern line that secures that business obtains
traffic that is simply enormous. and tho loss of
which the New York Central could ill afford The
carrying out of scheme by means of which there
was cooperation between the Wabash, Great
Western and Grand Trunk roads. reaching New
York over the Midland roads would make their
properties immensely remunerative and would have
been heavy blow to the New York Central"
Then Vanderbilt was forced into the sale Of Now
York Central as a protective measure?'
"He was most decidedly. There was. however,
another motive that influenced him to SELL There
the one hand these railroads that were pay
ing immense profits and needed q New York outlet,
in the profits prowinS ont Of he snare sx
tom OF roads II the freight controlled by the Wabash
system of roads should be taken from the New
York Central it would be questionable whether
II could continue to pay its eight per cent
dividend. Vanderbilt was frightened into the
sale; but If he didn't at the same time get
shake In the Southwestern securities he didn't
improve his opportunities. If he only sold New
claim TO being the railroad king of America. and
somebody has got the advantage him. The re-
turn Of good times had greatly improved the south
western securities and Vanderbilt not in a posi-
hon to get share in their profits before this SALE
while New York Central, not having been override
afford him so handsome a profit. Vanderbilt was
moreover, frightened by Tilden's scheme. as have
said"
VERY "s11L1." HUNT
But why should Mr. Tden continue to work at
this plan quietly now that the New York Central
sale has taken placer
"Did you ever know him to work IN any other
way? He forms his own conclusions to the value
of Investments, and when he thinks they selling
too high he sells too, and when their price in
market in his Judgment is too low he buys them
in. The world to him is only game chess, in
which men are pawns ana knights. He plays his
game and gets his results.
"Wnl the new line to the West be q successful
rival of the New York Central %
That depends largely on the money 1t has to
pend. The assessment on the junior securities of
the Oswego Midland is from So, to $5 O0O
II it has western connection insuring it large
amount of business it will in time be successful
rival of the New York Central. Its makeup COM
pares favorably with the Erie. When Vanderbilt
made an alliance with the Wabash he left the Grand
Trunk and the Great Western out in the cold 30
that the latter would naturally combine with the
Midland roads"
n. A. Cowdrey, secretary Of the COMMITTEES of re-
organization OF the Oswego Midland. said it the
intention of the OF that road to establish an
Independent trunk line from New York to Chicago,
and whether or not Mr.. Tilden interested in the
scheme. he would that they propose to get help
from whatever sources were available. He did not
know but what the Oswego Midland was bought in
Mr.. Tildens interest. but he would not state that
such was the fact. "f am only one of thirteen who
interested he continued, $50 / cannot
speak for all; but / believe that we
shall have independent line, and that
from Middletown Eastern extension will be built.
We shall build road from Elenville to
Poughkeepsie, avaiiing ourselves of the bridge
the Hudson, and shall travel with the New Jersey
Midland IL we can do better than could with Erie.
We shall not have dollar OF debt. but will have
from s3.OO0.000 to S500O.O0 in the treasury. think
We shall compare favoraDly with the New York Gen.
trai tor our road will cost only $4,000 mile from
New York TO Oswego. while the New York Central
cost over S2OOoOC mile. Whether we have the New
Jersey Midland depends upon the bargain we can
make"
CERTIFICATE OF INCORPORATION
Ihe cortihcate of incorporation of the reorganzed
Oswego Midland will not be approved until after the
sale is confirmed, probably early in January but tho
HERALD reporter yesterday was shown a copy of the
ceruhcate, that will undoubtedly be approved, by a
gentleman from whom the following facts
were gleaned;-The reorganzed New York
and Oswego Midland 1lailroad Company liz
called the "New York. Ontario and West
ern Railway Company" Tho certificate states
that Conrad N Jordan. who has associated with him
the undersigned, has and they have acquired by
purchase ali the property real and personal and tho
franchises of the New York and Oswego Midland
Railroad Company at u judicial sale made by the
Circuit Court of the United States for the Southern
District OF New York by virtue of decree OF fore
closure and sale entered october 2 1876 The rail-
road premises purchased are described as follows -:
All the main line of railroad of the late New York and
Oswcgo Midland Railroad Company. extending from the
city OF oswego. through the counties of Oswegc Oneida
Madison. Chenango. Otsego, Delaware, sullivan and
Orange the line of New Jersey also the Cortland
branch from Cortland by of Truxton and DE Ruycr.
through the counties Of Cortland, Madison and Cho-
mango to Norwich upon the aforesaid main line;
also the New Berlin branch from Now Berlin through
The county oi Chenango % the aorosad main line Aeo