The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1881-02-26
THE F., ". & B.
A Controlling Interest Bought by Messrs.
Garrett Gould others.
The Baltimore & Ohio Railroad Secures q Throrf
Route to New York-Tae War Between
the Grea. Trunk Lines-How tie
Sale was Consu minated.

brought the startling piece OF news to Elk
ton, that the Philadelphia, Wilmington, and
Baltimore Railroad had been either pur-
chased or leased by the Baltimore Il Ohio
Railroad Company. That he had heard the
report pukirly in the streets of Baltimore
and particularly at the Carrollton Hotel,
where he had heard it generally discussed.
The rumor spread rapidly over the town,
but was very generally .li>credited. The
knowing ones insisted that 1t could not be
possible that the Pennsylvania Railroad
could be SO outwitted by the Baltimore and
Ohio, even with Jay Gould behind it; while
others, sympathizers with the Baltimore and
Ohio in its recent contests with PennSylva-
MIA Railroad Company, We're easily per
shaded to believe that the report wlS true
On Tuesday morning the daily newspapers
We're eagerly sought for, but to the general
disappointment no reference either tele-
graphic or local was made to the alleged
transaction, except i'll two of the smaller
,lailieS-the Baltimore He"d'd, which con-
Gained short special, dated at Whining
ton, stating that it wis rlmOred that JAY
Gould had purchased the p, w. Il g.: and
the Wilmington Morning. NeicS, which, while
repeating the rumor, WAS, is regards its
truth, as Il gentleman when reading il re-
marked. perfectly noncommirIical." 1t
not then until Tuesday afternoon that
the report began to take definite shape, and
which was fully confirmed by the definite
statements that the b. g. o. Il. Il. Co. and
the New Jersey Central had purchased Il
! controlling interest in the p, w. Il b. l.
r., and whirhrhe following dispatch of the
Associated Press seemed 10 settle:
PHILADELPHIA. February 22-PreSident
Hinckley. of the p, w. u Is. r. r., upon
being questioned Tonight concerning the
reported sale of his road, that :: controlling
interest in his road had been purchased by
Robert Garrett, third Vice President of the
Baltimore x Ohio Railroad, and Mr.. Haven,
of the New Jersey Central. The stock pur-
chased is that of Mr.. Thayer, Of Boston,
with stock of other persons, making up the
controlling interest. The price paid to Sc
cure the majority OF the stock will he paid
to the minority stockholders, should they
tender their shares. The agreement, there
fore, is such as to protect the minority.
The effect of This purchase will be to kill
the bill now before rhe legislature of Della
ware for 4 charter for new line between
Philadelphia and Baltimore, rs Mr.. Garrett,
who WAS interested in The bill, will no doubt
retire from any connection with il.
\ prominent official of the Pennsylvania
Railroad Company said that he sale would
not affect his company, us they could doubt
"Hr h"he an 'nc he't>s"'S a, .,'.,
VIZ VIC n'"
;'. nv, ~ ~ ';Ir ".'.s :, a,,,
! plete route of their own.
HOW IT WAS CoNSUMMATED.
! The Wilmington Erery Erening gives the
! following account of the proceedings which
! led to the sale:
On Thursday Mr.. Robert Garrett sent re
! n.,,.d ..i.,rr,,,, ., 49,, II = ICo,,h ot
!
! 'he Deht"'te western MAIN o'''' 'Sh'''S niin
| to 20 to New York for important conSulta-
/ finn On Erii,v (,,I ,IrCnmh went nm IN
i ,, . ell,
I ->e" vi ~ an" "''' '''i'"'" "'N' way at
his request by Mr.. W. NJ andy, President
! of the Delaware w estern, and Mr.. Bates,
his counsel As soon as he saw Colonel
! .icComb Mr.. Garrett laid before him the.
| negotiations with Mr.. Thayer and the other
! leading stockholders of the Phladel phia,
( Wilmington and Baltimore Railroad resid-
! ing in Bns, on, begun at their solicitation
through Mr.. Pratt OF Baltimore, Vice Pres
ideut of the Company, for the sale of Il con
trolling interest in the road toa pool headed
~ n,,;n 49, -, ,l,a m,r,;,. r'Jn,'.l
/ McComb Instantly refused to have ANYTHING
TO do with the scheme, and said he WAS
po"nu III eou lt,' :" HIS ,,,i '",',.
enter into any such scheme. He had .riyrn
assurances that the scheme was a bona .ddc
one ana he ""ulu take no pau III any
,rnmI1 wiihdr,w from Ih,. ,rr,,mam,..,,t
previously made, and offered Col. McComI
as big Il share III the new "mhlnatlon as he
h'o' nan IN 'he ol'. S'io''e' Nru"'h" M
sisted MAJ NJ. .'a'le'' 'l.',i no 10 wit IL
draw. hr. Harfe't PerSi>'e" III h'> "rSiSh
Oh "ith"it"! an" s"Nc 10 one vi MS
reasons me "e'aF Ill Srah'lhsa t';lF''r Tor
ROAD "''ch ineS cou'a h'' i''i'Hii i"i year
While the "ii roan was ready iof 'h1lr IN
/ slant Use. CilOntl McCOmO WIS unable IL
overcome 'he onJ,cIio''' Oh" II, ne resisted WIN
nror,.din@s M.anwhil,. hose r,nr4stn,;nr
the Philadelphia, Wilmington and Balri-
more We're IN FORTUNATE Ill pressing the SAFE
would have h.,., rn,snun,trd Inv SAM.
j,y moan had NOT Cal Ncl,oinb f,,uJh II
win ali his miyht and heeu snl.n,liII ,
h.,,.Ir.J nm Inv Mr. V.ud,rh;Ir Who most
hopor,hly stood by him in INSISTING an The
carrying out OF the ORIGINAL ucr.,.urnt
:, HALT CALLED.
Colonel McComb's determination was 81
rr,o :: o,.I,,.L ON S,,urd.,
~
nothing WAS accomplished toward oleahiit
the old agreement and making Il new one
n, Saturday aft.r . o'clock Mr. G,rr.t
,,: a.,
gave ''SS"'"ioe vi '''"e' 'nS !" 'ne 's'ee
ment originally made, and as HesSrs. Canb.
and Bates left New York. MIR. Carr, It re
,,a1 j.; +b.;, rrss,,,.,, D., 90, ,1,c,nh
'
sfprofnlse ne nan previously iia''e 10 20 u
lover next w e"heS"i! i" "IEe me i'aSSas
OF ,he peh"ihS niii' iheF ieit .>tW io'l
innS assured ina, t.'e ne" i'esolIatloh wa
broken up anu lnat 'ne I"rioil l'roi W.
.ne',i Mo"'' 'e gwen az i''''' "'>' @''
u,s ,,,.,sr,
YIN oalu'u"S, Willie III Ne" 10TH, col
|. McComb sent the following dispatch to III
pb;,,5.lnh;, c,n;t,lis, ,lra,dv uen,;or.
~ ''sSo''''e' Win MIN III ''e 'h'''ef'
NEW YORK, February 1910 A. Nj me
Haven and Garrett at > this evening. Thei
proposition was verbal, not written, as
, insisted it should have been, and is 10 thi
effect: Haven and Garrett are to buy con
troll of stock of F., W. and i. at 40, putin
us all in, and Ivy working the market are I
put it to l00-we roaming the nrotit an
: taking chances in the future fur manage.
mrnt of the nroperty which they are, to re
with The control of the stock, now; Gould
I understand. is to he behind them II i
pure, bald speculation. nothing else. Late
E in he evening | called on Mr. Vanderbilt
and spent two hours with him, giving hin
! what / understand to be your views as wei