Daily Republican., 1880-05-18
THIRD EDITION..
SOLD TO THE HIGHEST BIDDER

A Coup DE 'Etat ON Part OF the r.
W. q B.-The w. q. d p. Railroad
Furchased Yesterday = One OBJ
staoie in the way Ofthe New Road.
1t was whispered among those inter
ested in the building Of the new line
between Philadelphia and B..nimore,
in Wilmington on Saturday that the
P. W. & B. R. R. company was making
an effort to purchase the West Chester
4 Philadelphia Railroad for which Col.
H. s. McComb some days ago, acting for
the new company, had made an offer.
This has been confirmed by the con-
summation of bargain by which the
the P. W. Il B. comes into possession Of
the property.
Yesterday morning meeting of the
Board Of Managers: Of the W. c. & P.
road met In Philadelphia, and decided
to accept the proposition Of the P. W.
& B. This proposition was to purchase
two-thirds of the stock Of the road
and become the bearers of the bonded
indebtedness Of the road. The offer
was made not long ago, and closely
followed an Offer by Col. McComb to
purchase two thirds of the stock. The
first offer was under consideration
when the second, which has Just been
accepted, was made. d..
The object Of the p, W. & B. in buy
ing the W. c. & P. is to checkmate the
movement to build new road between
Philadelphia and Baltimore. The ad-
vantage the road just purchased would
have been to the new company was the
excellent entrance 1t would have afford
cd into Philsdelphis.
WHAT Is SAID IN WILMINGTON.
Col. II. S. MeComb left Wilmington
at an early hour this morning and it
was impossible to get statement from
him concerning the new move. The Re-
interviewed several gentlemen,
in the new scheme, and It was
stated by all that they did not think
the purchase would prevent the build
ing of the road. They said that, while
more inconvenient arrangements would
have to be entered into, the project was
Of too much importance and magnitude
to allow such thing to knock it in
the head. They had been aware that
The offer, Just accepted had been made
by the P. W. & B. l.
Mr.. Charles Warner, the Wilmington
lirector Of the 2. W. & B. declined to
'ave any thing to say upon the sub
ect.
The parties connected with the new !
Dad are holding consultation to-day 9
n Philadelphia.
THE W. c. & p. R. r. II
From the last statement of The condi- !
ion of the West Chester Railroad Com. I
ANY, it is ascertained that the amount +
+ capital stock authorized by the votes
I the company is 1921, 200, although
he stock authorized by law is So, 2O0,-
90.
The funded debt is 81, 100, ,0C0, and
he floating and funded debt together
lake total Of 81, 1921
The road cost, up to 1880, 81, 877, 1862,
ne cost of equipment being 5000, 239.
here a,e rs $40 miles of track, with
inc stations on the line, with ten loco
lotives, twenty passenger and eighty :
eight cars.
Concerning the sale the Philadelphia .
Record" of to-day says: ."It is the
ltention of the Baltimore company to s
IN at short intervals dummy cars over ii
he main line and West Chester road
'r the accommodation of those doing =
usiness ia the city and residing :
hort distance out Of town. The pur-
ose of this is to afford rapid transit and s
'eqaent opportunity to patrons. This
eparture, it is claimed, will do much :
build up the stations adjacent to the
ty on both lines.'' i