The daily gazette., 1881-03-09

THE SALE OF THE P, W. & r. q

THE SALE OF THE P, W, s. B. &
R.-The sale of The stock of the p, W.
a b. turned out as the GAZETTE had
OF several occasions in previous articles
said ii might. On the old principle that
there Is many slip between cup and
lip, We could not see how Dir. Thayer
could 60 into an open market with a
fixed price and buy up stock at $40,
sales Of which, under the hammer, we
had several times previously published
at s74.50. As stated in the GAZETTE
yesterday, the controlling interest in the
stock was finally secured by the Penn
sylvania Railroad Company, at the high
price Of $50 share. Thus it appears
that the confidence of young Mr.. Robert
Garrett 10 Mr.. Thayer's ability to de-
liver the majority of the stock at SO
per share was misplaced. What Mr..
Garrett will now do is the question that
most forcibly presents itself. 1t is stated
In the World that be discovered on Mon
day that he had failed in his effort To
get control of the p, w. Il b., and was
Sin a great state of excitement in the
streets of New York endeavoring to
gather proxies of the New York Central
witt view to putting Mr.. Vanderbilt
out of that road as a counter move.',
OF course there is no certain reliance to
be placed on these reports. The sup
position was that Garrett and Wander
bilt were in the same syndicate. This
however, might all have been changed
after Ar. Garrett wrote his letter to Mr..
Robinson of the Delaware Legislature,
declining to make further efforts to st
cure the passage Of the Delaw are West
ern bill, because he had effected a pur.
chase of the p, w. & B. Subsequent
results show that he was entirely tou
slow in his movements for MI. Roberts
Of the Pennsylvania. At the annual
meeting Of the stockholders Of that
famous road held yesterday in Phila-
delphia, Mr.. Roberts 6rst made known
that he had secured the p, w. x b.
The assembled stockholders expressed
the greatest surprise and hailed the
news with delight.
Mr.. Roberts stated that the franchjs
gave the Pennsylvania road the control
of valuable and extensive wharf front
age in Baltimore, ard added also one
third of the junction road round Tatla-J
Philadelphia, which gave them two
thirds, the Philadelphia aud Reading
having the other third. One of the
directors said that the PENNSYLVANIA
Railroad had been frying to get the F.,
W. & 3. for twenty years. They had
failed in their efforts to do so under
Presidents Thompson and Scott only to
succeed at last under Mr.. Roberts. Ii
is said the failure to secure lease OF
the F., W. u b. was in consequence OF
the necessity of obtaining the necessary
enactments from three egislatures--the
Pennsylvania, Delaware and Maryland
Now the Baltimore and Ohio and the
Delaware Western have the way clear
to build new road. If Col. McComp
finds that Wander bilt had gone INTO the
syndicate OF the Pennsy lvania purchase,
the b. Il o. and the p. & r. and n. j.
Central may occupy the position they
did to the Delaware Western when the
application was made to the Delaware
legislature had been before that body
about two weeks and Mr.. DAVIS, one of
the assistant Vice Presidents of the b.
Il o., paid Dover his FIRST and last official
visit. We shall await further develope.
ments. 1t must be borne in mind how
ever, that our legislature by resolution
offered the q. & o. charter If it ap.
Piled for one.