Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1881-03-10

ing one-third of the entire English stock
holdings, made some remarks on the
progress of the Pennsylvania Railroad
Company, and without further important
proceedings the meeting adjourned.
PESNSrLTINLa'S PURCH iSE.
What People Say and Think Now
That They Have Had Time 10 Take
Breath-Mr. Birds Opinion what
IL known Elsewhere.
"Well, who owns the r., W. 4 ~
was common salutation yesterday.
The announcement in EVERY EvENlSU's
special and Associated Press dispatches
yesterday that the Pennsylvania railroad
had bought Il controlling interest in the
Philadelphia, Wilmington x Baltimore
railroad was received with greater aston
ishment than the announcement of the
Baltimore X Ohio's arrangement for pur-
chasing the p, w. x b. Not only are
business men and railroad Stockholders
deeply interested in the new develop
ments, but usually dry railroad affairs
have of late been interested by sudden
and frequent changes of situation. with
such an air Of stmi-romance that the
whole community found this latest ruvo-
luton matter Of absorbing interest.
Levi e. Bird, ESD, resident counsel of
the Baltimore Ohio Company said very
promptly Tuesday afternoon 1.-THE
Baltimore 4 Ohio Company will build
new road and that immediately
10 the question, evil your company
purchase the newly amended Delaware
Western charter ?" his answer WAS
" McComb will want seventeen prices for
that, and | think the Baltimore & Ohio
will apply 10 the Legislature for new
charter
Then the Baltimore 4 Ohio wishes
absolute control OF Il line between Phila-
delphia and Baltimore p
Certainly"
Mr.. Bird further intimatcd his belief
that the McComb syndicate would not
build and never had intended to build
the proposed new line; but in further
conversation he rather weakened on his
assertion that the b. <. o. would build
between the two cities.
Mr.. Bird went to New York Tuesday
in response to a telegram from Robert
Garrett, third vice president of the Balt-
more & Ohio Company.
William NJ. Candy, president of the
Delaware Western Company went 10 New
York yesterday. A gentleman who talked
with him described him as seeming dazed.
The Philadelphia Ledger OF yesterday
says that negotiations with the pur-
chase in view have been going on for two
weeks past, at the instance of large
holders of the p, W. q B. stock in Bos-
ton, who were not willing to sell at SO
the price offered by Nathaniel Thayer,
who had contracted to deliver to Messrs.
Garrett and Haven, representing the
Baltimore u Ohio and Central railroad of
New Jersey, ll3, 900 shares, or u majority
Of the stock, believing that they could
obtain better price. At the invitation
of these Boston holders, some of the
Pennsylvania railroad officials visited
New York on Monday afternoon, and
met the parties in interest at the
Brevoort House, when the negotiations
were concluded the same night, on the
basis of the delivery ON the LIST of July OF
controlling number of shares at S7S
each. The capital stock OF the F., w. &
Is. Railroad Company is $ll ,572, $50, at
500 per value, SO that to obtain con
trolling interest ll5,7 shares must have
been secured or pledged. The difference
in price between that offered by Mr.
Thayer and the Pennsylvania company
amounts to 81 ,000, 900 in round fpuras
which will cause shareholders to Sell to
the latter, thus leaving MIR. Thayrr
without the means OF making GOOD his
contract with Messrs Garrett and Haven.
Taking ,72s shares as tn. Amount uf
stock secured by the Pennsylvania Rail
road Company, valued at So, 7sG. Hoo at
par, the price contracted To be paid is
Ss,O25, 1s4, or 50, 23n, 3S4 ahove par.
The Lefyer continues at is said that
liberal facilities will be offered tn. Balti-
more Ohio Company in the movement
of its trains over the r.. w. X h. and In.
Junction railroad, OF which latter th.
Pennsylvania Company becomes the
owner of the secagd oil the three links
constituting it. us designed, when tL,
contract is completed to run passenger
trains to Baltimore from the. Fifteenth
and Market streets station, and To MS. th,
depot at Broad and Washington avenue
Tor freight purposes, in connection with
the other freight depots OF the pennsyl-
vahia Railroad Company, which has ulso
excellent terminal tacilitie, in Baltiulvrr
besides those acquired by the recent
contract.
The Philadelphia Times says that Wil.
liam Minot, and kddcr, Peabody Y Co..
the heavy Boston stockholders in the
r., w. b., finding that Nathaniel
rhayer had but three per cent. of Tn.
stock to turn over to Robert Garrett
combined to turn over a majority of tI,,.
stock At better rate 10 the Pennsylvania
Company.
The Philadrldhia hg0ifsr has it that
Nathaniel Thayer has settled with the
syndicate, with which he was unable. 10
Keep ialth, by paying heavy sum Of
money, probably s500,O00 The h.quir.r
publishes an interview with u pcnnsy
wanna othcial, in which the ioll,wip,
occurs
How does Gould feel about the
transaction ~
On, 1t suits him well enough. He was
only In the syndicate scheme for a stock
operation. When it was found that
Ihayer could not fulfil his contract
uould had no further interest in it. With
uouid and his associates we are still in
negotiation concerning the right OF way
over our +. Il. road for a connection 10
complete his Western SYSTEM
VIII you maintain separate organi.
cation of the p, W. & b. Cor"
certainly, that will be kept up; but
we Will oil course, consolidate and SIM
pliiy the force of the company, so as to
greatly reduce its responsiveness.
President Roberts, of the Pennsylvania
ROAD, says that the company has agreed
to take at SIS all stock offered before
April LIST and pay for the same July LIST.
ne thinks arrangements will be made TO
prevent the building of rival lines.
The following is from an interview be-
tween President Roberts and a Philadel-
phia Press reporter:
when will you take possession of the |
Philadelphia, Wilmington & Baltimore
railroad !''
"That has not been discussed yet. The
property IS very well managed and we |
nave no disposition to interfere with the |
present oficers.''
The sale gives the Pennsylvania the |