Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1881-03-31
TIE NEW THROUGH LINE
THE FULL STONY or TINE DELI.
UIRL WESTERN SHE.
Negotiations Begun ON the bay
After the p, w. a. ss. Road Was sTi ii
Numerous PropOsitions-SO snie
which would NOT Assure the
building of the Road.

Numerous PropOsttiUus-S0 Snie /
which would Not Assure the |
building of the Road.
The JOURNAL announced last week |
the completion Of the negotiations by tine |
Baltimore q Ohio Railroad Company for |
the purchase Of the Delaware Western |
road and its preparations for the speedy |
building OF the remaining link in the |
new through line between Baltimore and |
New York. There is no longer any doubt |
that the road will now be built between
Baltimore and Philadelphia rs rapidly Us
ample means and all the men who can ne
conveniently put to work along The line |
satisfaction here in Wilmington that it is
equally assured that the road will run
through this city.
THE STORY OF THE SECOND BARGAIN.
The history of the negotiations ly |
which the Baltimore 4 Ohio Company |
| were interested a second time III the Del8-
ware Western project is quite an inter
estng one. 1t will of course be remeIl-
bered that they formed an alliance with
the Delaware Western people from which |
they withdrew after they had made a
bargain with Mr.. ThayeI 10 sell them Il
controlling interest in the Philadelphia,
lihiilstoil n"t''' ID ~ ''iioIe Nolilp'"!' "",
arrahSellehV lell tiIVu5h oh "ctount Vi
Mr' lhayefs lhapillty 10 secure the
| necessary amount ol STOCK ana Messr9'
hldder, feapody ~ 20. hesotia'ea tile
sue vi ,iie o'.i''oit,ns il''otese "a NV -,
ON the 7th day of the present month.
THE DELAWARE WESTERN NEGOTIATION RE
SuAEp'
On that day Col. II. ). McCoinb, who
held n majority of the Delaware Western
stock, happened to be in New York on
other business. MIR. Cowan, counsel of
the Baltimore Ohio company, at once
telegraphed to Wilmington asking il Col.
McColnb could come over to New York.
Being informed that the Colonel was
already there the Baltimore y Ohio people
hunted him up and at once asked if his
scheme WAS still open for their benefit.
Col. McCOmb answered that it was not
on the same terms, but that he was
willing to negotiate, and shortly after
wards saw Mr.. Robert Garrett ut DreXel,
Morgan X Co. ; office and arranged with
him and Mr.. Pierlepont Morgan for
meeting that evening in the Hotel Bruins
wick. AT that meeting the whole subject
was talked over, but Colonel McComb de
clined to give any liual answer until he
had consulted with MI NahderDilt. ne
saw Mr. " .l'"t ea'i's aii 'teaiiitu ~
we ii'.ri h."iis" ieN ,'' "pGu' ~ ''''N
"''ere 'iie o'''eiS ""''e'' nun
NEW PROPOSITIONS
Col. MeConb then ON behalf of Mr..
Vanderbilt and himself made the follow
ing propositions The Baltimore & Ohio
through their own engineers, may locate
the road between Philadelphia and
Baltimore and construct it subject to the
supervision of an engineer to he appointed
by Mr.. Vanderbilt the road to he double
track with steel rails and iirst-class in
every respect, to be equipped with rolling
stock to their entire satisfaction, an equal
amount of stock and bonds to be issued
the latter to he secured by mortgage ON
the whole proprrty for iiftv years at
3 per cent. interest and tile road to be
leased 10 the Baltimore X Ohio for
ninetv-niu. vears. they to receive one
third of the stock and Mcssrs. McComb
and Vanderbilt to receive the other two
thirds: the interest on the bonds being
Guaranteed by the Baltimore X Ohio Com
pany which was, of course, to make itself
',ooi nut Of the net earnings of the road.
and any s9rplus earnings to go to the
stockholders' rms proposition was maze
ON the evening "l Match sun ana ON me
morning "i Marcl' "'h Mf' Jarrett Selt
iof Ioloitl Met "iAo 10 come !" tle noe,
, brunswick ana there ana lheh uecliiie"
the pfopoSllloh'
MR.. GARRETT MAKES AN OVERTURE.
t Mr.. Garrett then made to Messrs.
Vanderbilt ,ud NriouI Z, nrounsitinu in
, vritin,r similar to thnt iusl u,u,lr .xreut
= tbat Il nrnnnsad that thn Baltimore AZ
ohio roinpnnv was to receive one half the
urouns4d ,tork and the interest ON TN,
money fnrnishrd by heprntlenlpn named
: was to be i inst.od Of 1 prr cent. This
, w,s d,,.lin,d nv Nr Vanderbilt. and
rnlou,l NcComh in turu made another
; nronositnn to furnish half the
MONEY 50 that the contracting partie,
L sbonjd rorb bnve ON. halt the stock and
1 nua half thr hands which was declined
L, tl,n baltimore 4 oLio MIR. Garrett
+ H., ,rnnnsnd tb,t Colonel McConI,
t sI,nIJ mt tho Dnlav,r. Western road
t intn +hair srb,,nn fn, -, syudirat. tho
. raaJ ,,s tn ha n,t in nj nm u~rcrl nricr' and
= r,ln,,,1 Nt,,n,nl, Ia L,y,. an interest i'm
= ,l,air s,.,,li.otn IN tLot .vt,rt sborinu
= r;+t ,ita,', ra,alJ,. IL, ,,.to+,,.. ,,rndt u,s
n ,,a'I. n,, th,. hnil,lin,, nf IN. rnad This
.',',,.'i.i.''' H., 1''ii,5'1 a
P''l''''' "