The daily gazette., 1880-05-18
Sharp RGisroGd Tactics.
HOW COL. INCOME LED THE p, W. 8 b
INTO BUYING THE WEST CHESTER a

HOW COL. INCOME LED THE p, W. 8 b
INTO BUYING THE WEST CHESTER a
PHILA. r. r. DO
The purchase, by the p, w. & B. R
X. Go. of the We Chester & Philadel
phia Railroad, was officially noticed, IL
this city and West Chester, yesterday
by the following dispatch:
PHILADELPHIA, 5, 1.-THE West
Chester IL Philadelphia Railroad will be
opera.ed on and after June /, 1880, by
the Philadelphia, Wilmington & Balti.
more Railroad Company, 1t having beer
purchased by that corporation.
HOW THE SALE WAS EFFEcTED.
The sale of this road has been topic
in railroad circles for some weeks, and
originated in the report that Col. II. s.
McComb, Of this city, protector of the
proposed new railroad between Phila.
delphia and Baltimore, was about to be
come the purchaser. Col. McCumb did
contemplate this move, in order TO Sc.
cure for his new road a cheap and con.
venient Philadelphia outlet, and he had
the refusal of IL for more than week
This move on the part of the Colonel
ran ny the W. G. & p. stock, which had
been depressed TO $50 by active compe
tltion, until it reached $40 in the market.
The Directors wanted the Colonel to
give them $50, the par value, for
controlling interest of the
stock, and also to guarantee
the interest on the Companys bonds
This proposition he finally rejected
claiming that he could build q new road
more cheaply and recently, the P. W. &
b. Co., not knowing the Colonel had re.
tired, and thinking to cut him out, STEP
ped in aud offered to buy up all the
stock and guarantee the bonded indebt.
edness, thus becoming the practical
owners of the road.
At the meeting of the Board of Mana.
gers yesterday morning, this PROPOSE
tiOn was accepted, aud the Pniladslphla,
Wilmington, and B,ltimore Railroad
Company will soon come into possession
of the properly.
FROM the las; statement of the cou-
dition Of the Wet Chester Railroad
Company, of which J. Edward Farnum
has been President for years, 1t is ascer-
tanned that the amount of capital stock
authpriz ID by the votes of the company
is $S2l, 300, although the stock thor
lied by law is $3,20O,0OO.
The funded debt is $1,100,00O and
the floating and funded uebt together
make a total of$1, 182,512. The road
cost, up to 1850, 81, ,877 1852, the cost OF
the equipment being $200,249. There
are 20 10 miles Of track, with nine
stations oathe line, with ten locomotives,
twenty passengers cars, aud eighty
freight cars.
A PROBABLE RESULT.
As q probable result of this purchase,
the West Chester Local Ne,os says:
This Is the result of the last few
weeks railroad movements, in which
Col. McComb, of Wilmington, figured
so prominently. What it is TO culm nate
in there are many speculatIons, the
general belief being that the grand finale
will tnd the W. q. u p, P. w. b. and
Bait. Central all in the hands of The
Pennsylvania Company, by which
means that corporation will b. enabled
to hold the Baltimore & Ohio at great
er disadvantage than at present. The
denOuen,ent will be aw nited with much
anxiety, aud every effort will be made
TO get at the inwardness of affairs as
early as possible.
THE NEW ROAD.
Meanwhile Col. McComb with his
mind as shrewd and his head as level as
ever, is forging right ahead with his rev
Phila. & Bait. road. A new survey for
a route into Philadelphia has been made
which Is said to be convenient and salts
factory in every respect. Fuller partic-
ulars will be given in few days.