Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1881-03-24
THE NEW RAILROAD.


Ii IL Surely to be Butlt-FuIi story
" thc purchase Of the Delaware
western ~ tlnc Baltimore IL Ohio
Guarantee That the Road VIII be
batlf Given Col. McComb-The New
Road To be Built to Philadelphia in
u Little over Two Months.
representative Of the JOURNAL
called oil Levi G. Bird, Esq. yesterday morn
ing, to ascertain whether the facts con
corning the negotiations between the
Baltimore Il Ohi) Railroad CoElpanv
and Colonel II. S. MeComb. represeitin.r
the Delaware Western railroad, weI
ready for publication, in view Of the AL
hounceinent made in Philadelphia paper,
that the Baltimore Ohio had some I, 3,
terms with the Pennsylvania Railroat,
Company. Dir. Bird replied that there j
now no objection to the statement of ll,.
facts, and proceeded as follows:
THE Baltimore * Ohio syndicate,
said MI. Bird "had made contract witt
Mr., Thaycr to deliver to them a control
ling interest in the Philadelphia, vii
mlngtun d Baltimore railroad. Mr.,
ihayer agreed to do this, under writ
ten contract, but failed to get control Of
the stock, and paid TO the syndicate 4.
stipulated forfeit.
The Pennsylvania Railroad Compan,
then commenced TO bargain with Kidder,
Peabody x Co., of Bo'lon, Tor con
trolling interest in the r., w. l. Il. road
and secured ii.
On tile 9Th of March, two days after tn.
consummatiun Of the purchase by tn
Pennsylvania company, Vice PresidenI
fatrett,of the Baltimore Il Ohio company
met Colonel MGComb, by appoint
ment at tho Hotel Brunswick, New
York. There were present also at tina
interview, Mr.. Cowan, the general counsel
for the Baltimore x Ohio company, Mr..
randolph, chief engineer for the SANE
company, and myself Negotiations wera
ut once opened for the purchase, by tho
syndicate, of the Delaware Western line
to he under the control and management b
Of the Baltimore & Ohio company"
Col. McComb, who was present at thu
interview with Mr.. Bird, here said !:
Three propositions We're made by mt t.
Mr.. Garrett, all of which were declined
by Mr.. Garrett mainly on the ground
chat he was not willing to pay j
per cent. interest, as they hat
biN iitOltf w IT, lilGll Vi tlltst DIt-
ppSitons involved Mr.. Vanderblt's fur
n-'hinS the whole of the money, tor pnr-
poses Of Investment purely, and the Balti-
more u Ohio Company to locate, built
md manage the road. These propositions
being declined, Mr.. Garrett then
made to int proposition to take
the Delaware Western road at an agreed
value, letting it represent my share in
the syndicate for building the new line,
md agreeing with me that should share
FATALLY in whatever profit was made on
the scheme. This proposition | also
declined.
Mr.. Bird then continued Further
negotiations resulted in proposition To
purchase the Delaware Western road
which purchase was then effected, Colonel
McComb agreeing to deliver 1850 shares
II Delaware Western stock. A portion OF
the purchase money was then paid, and
the stock deposited for delivery OH final
payment to the Baltimore x Ohio Com
pauy at any time within 60 days, the
representatives Of the Baltimore x Ohio
Company assuring Colonel MGComb that
they had determined to build the road.
Arrangements have already been made
by the company for all engineer corps,
ind operations have commenced about
Philadelphia and Wilmington.
The company intend to have the line
between Philadelphia aid Wilmington i'll
running order by June LIST. The balance
Of the road, between Wilmington and
Baltimore, will be built as quickly as
men and money can do it.
| wish to add. continued Mr.. Bird,