Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-05-02
RAILWAY MATTERS.
Sale of the Montgomery and
Eufaula Road.

MONTGOMERY, ALA, May 1.-The
Montgomery and Eufaula railroad was
sold to-day for the benefit of the bond
holders, by order of the United States
Court. 1t was bought by William NJ.
Wadley for 81, 100000, cash.
LOUISVILLE, May l.-Great interest
has been manifested here concerning
the fate of the Montgomery and Eufaula
road, advertised to be sold to-day under
a decree of the United States Court. The
Louisville and Nashville road was
known 10 have under its control over
nine-tenths of the first mortgage bonds
and was master Of the situation il her
management desired the control Of the
road at any cost, but the eagerness of
the Georgia Central Company to secure
the road, without regard to
cost, induced many to pre-
dict that if the price went high
enough the Louisville and Nashville
would let go and realize the profit. Such
proved to be the case, and when the
Georgia bid S2,l20,000, the Louisville
and Nashville passed out, and the
Montgomery and Eufaula railroad was
Knocked down TO VIM. VI. Wadley,
President OF the Georgia Central. The
Louisville road realizes profit OF six or
seven million dollars in cash, or equal
to over per cent. dividend on her
capital stock by the operation, and
the shrewdness OF the transaction on
the part of the Louisville and Nash
vile company is generally conceded,
Mr.. Wadley, President Of the Central,
was in Louisville Monday last, and then
offered the Louisville and Nashville
road half million dollars profit for the
Montgomery and Enfaula, which was
declined. 1t is now known that the
Georgia Central then entered into an
alliance and secret contract with the
Louisville road by which it was agreed
that the two roads should mutually ex
tend every facility and work in harmony.
Vice President Newcombe Of the
Louisville and Nashville expressed great
satisfaction at the result of the sale to-
day and the profit which will accrue to
the stockholders. 1t is also learned
that on Tuesday last Vice President
Newcomb signed a contract with the
first bondholders Of the Evansville,
Henderson and Nashville road, by
which that branch OF the road, extend
ing from Guthrie to Henderson, known
as the Kentucky division OF the st.
Louis and Southeastern, passes into the
possession Of the Louisville and Nash
vile, and gives that road absolute owner
ship Of l46 miles OF road, from Nash
vile TO the Ohio river, and opens to ~.
Louis, Chicago, and intermediate cities
an extensive region OF Southern terri
tory.
New Railroad Project.
SAN FRANCIsCo, May IA Portland
dispatch says: A gentleman closely
identified with the enterprise arrived
here on the last steamer, states that Jay
Gould has made a DETECTION at Fort
Hall, Idaho, from the Utah Northern
line in the direction Of Oregon, and has
let the contract for one hundred miles
of the road. II this road should be con-
tinued on the line of this DETECTION,
there was good reason for believing it
will touch the Columbia river at
Umatilla. Managers OF local railroads
are projecting narrow gauge roads TO
connect with the Utah Northern.
Directors Elected.
New YORK, May |. - At a
meeting Of the stockholders Of
the Kansas Pacific Railroad Company
to-day the following directors were
elected: Jay Gould, Sidney Dillon, +.
NJ. Ames, Russell Sage, Addison Car
mack. James B. Keene, c. 5. Greeley,
G. p. Ushen, d. VI. Edgerton and James
VI. Horn. At a subsequent meeting oi
the directors the following officers were
chosen: President, Sidney Dillon; Vice
President d. VI. Edgerton; Treasurer,
James NJ Horn; General Solicitor, ]. p.
Usher.
Rumored Railroad Change.
CHICAGO, May 1.-The presence here
OF Vim. II. Vanderbilt's three sons and
other railroad magnates and their pro-
posed trip over the Northwestern rail-
road, has revived the report that Van
derbit has secured control Of that great
corporation. The party started for
Omaha this morning by special train.
1t is stated in this connection that the
present officials OF the Northwestern
railroad will in any case bc retained.
Fast Freight.
NEW YORK, Nav loving 20 the diff
fculty IN procuring the new tobacco
stamps shipments were delayed, and
this morning a chartered fast freight
train loaded with tobacco left Jersey
City for Chicago, via the Pennsylvania
railroad, under a contract TO make the
run in twenty-four hours. At last ac.
counts the train was ahead Of time, and
had averaged forty miles per hour.
Weather Indications.
WAsHISGToS, May 2, l A. M.-For
Tennessee and the Ohio Valley, rising,
followed by falling barometer, diminish
ing northwest winds, shifting to warmer
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