Daily globe., 1879-09-08
GOBBLED UP.
Tho Burlington, Ce1ar Rapids d NortherM
RGilrond Secured bv the Chicago, Rook:
Island E Pacific Road, and Made Trtb,s.
turn TO ST. Pnaxl

| Tho Burlington, Cedar Rapids d Norehern
Rnilrond Secured by the Cktcago, Rock
Island & Pacific Road, and Made Tttb,.
taTYtO st. Paasi.
| lChioago Times.
The fact that the Chicago, Rock Island & Pa
cific railroad had secured tho lease Of tho Bur-
llngton. Cedar Rapids & Northern road, a
made known through the columns Of the Times,
exclusively, on yesterday morning, was reoeiv-
ed with marked astonishment. If not redulity,
| in railroad circles. The negotiations had been
40 long pending, and 80 much had been written
pointing to the conclusion that the Northwest
| ern company would secure the property that
that disposition Of the matter was pretty een-
orally conceded to be the outcome. Such an
acquisition to the immediate railway interests
of this city. of course. being of the great
est Importance. attracted special atten-
ton That. this Iowa road has finally be-
come direct branch of the growing network
of railways controlled and operated by Chicago
enterprise is a subject OF cangratulatiOn, and
the contest as to which particular corporation
should control its future policy was partially
lost sight of in the fact that its control would
parently been bitter one, and has called to
| New York the ma9nates of both companies,
who, for the past three weeks have been en-
gagged in regular fight for the possession of
the prize.
The object Of the Chicago, Rock Island Il
Pacific company iu desiring this particular
line is readily discernible Had the rival COM
pany gained possession Of it. they would have
prevented a st. Lous connection with the Rock
Island road. or at least com PEELED that company
to eventually construct separate line, at trc.
mendous expense. They would also have been
able to reach Muscatine. Iowa, large lumber
point, and thus been in position to force COM
petitition in section of country where the
Rock Island people have always had every-
thing their own way. Having this, the early
| completion of the Burlington & South.
| western would have given them direct line to
St. L,uis. The result of the dicker In New
York has given these advantageous issues to
! the Rock Island company. BY securing the
coveted line. the latter company gets into &C.
dar Rapids, the Chicago of love, passes on to
Cedar Falls and other towns Of importance,
| and by its connection with the Minneapolie
| strong bid for north bound traffic. being in &
position to demand q large share of that busi-
uess. It is thought that very large proper.
ton OF the business that has fouud its way ovW
the other st. Paul roads by way of the
Chicago. Burlington & Quincy rosd
will by this arrangement be transported oveF
ths new route. The terms of the lease in de.
tail have not been'and can not be definitaly
stated until the return of parties who have
been interested in the matter as representa-
| tivss of the rival bidders. The only allega-
tion made in this connection thus far in th.t
the successful company paid nearly 94O0,O
more for the property than was offered by the
North western folks.
Under the present arrangement between tho
Burlington, Cedar Rapids & Northern, and
roads iutersectiug it. and which pull it's
through esst-bound freight, tho proportion
of freight earnings has heen divided upon the
basic of two thirds to the former company, leav-
ing the interaeoting lines, which haul the freight
the greater distance. but one-third of the total
| charges To this fact is directly traced
road during the last two years. during
| which time it is we'll known the
condition of the company has very much i'm
proved. The moment the line becomes the ex-
elusive property Of either trunk line, as 10 now
proposed, it is safe to predict that the proper
| tion of earnings will be reversed. Two-thirds
the earnings of road that last year did not
| pay ~ per cent. upon its stock Is far from a
! paying investment. Several Chicago railway
men assert that, in their opinion, the Rock
| Island company have paid dearly for their
whistle, yet they say that company is in better
shape toassune load Of this description than
! any other Chicago road. Last year tho Rock
Island company had a surplus of 81, l,200, ,00O,
! portion OF which has been pooled in the pres
ent deal. The officers Of the Rock Island
company, in theS absence of direct
authentic information know moth
ing of the bargain. President Riddle
viii! probably leach Chicago to-day. The re-
porter yesterday called upon Marvin Hughitt,
general manager of the Northwestern road Mr..
Hughitt had just reached home from New York
The following is the result of an interview had
! with the busy gentleman:
lis the reported lease of the Burlington,
Cedar Rapids Il Northern railroad to the Chi
cago, Rock Island & Pacific company fact?"
Il know nothing positive in regard to the
matter, still presume the report is true. Good
day.
The reporter withdrew, satisfied that q tacit
| acknowledgment of this description was all
| that could be obtained from the busiest man
in America unless by the aid of force pump.
The details of the lease will doubtless be
made known in day or two.
1nteruie ecIkk DIRECTOR.
Chicago Tribune
Mr.. R R. Cable, assistant to the president of the
Chicago, Rock Island & Pacific railroad, returned
ftom New York yesterday, where he has been taking