The daily gazette., 1881-02-25
The Railroad Fight.
MR.. GARRETT'S LINE TO THE
SEABOARD.

THAT THE BALTIMORE AND OHIO
Is NOT YET SURE OF ITS PRIZE.
Dispatch TO the Times.
BALTIMORE, Feb. "a.
Enoch Pratt returned to-day from
Wilmington, where he went to at
tend the meeting of the directors of
the Philadadelphia, Wilmington
and Baltimore Railroad Company.
He was asked whether the manage
ment of the Philadelphia, Whining
ton and Baltimore Road would be
changed and he said emphatically
that it would not. He added that
the election of Mr.. Robert e. Gar.
rett and G. G. Haven as directors
hlled the only existing vacancies in
the board and that there would be
no other meeting of the directors un-
til February, 1882. The Baltimore
and Ohio Railroad had not spent
one dollar for the Philadelphia, Will
miugton and Baltimore Railroad
stock and yet the purchase was call
ed great victory for the Baltimore
and Ohio. J. w. and Robert Gar
rett were both personal purchasers
of the stock, but not the Baltimore
and Ohio Railroad Company. The
sale was Simple stock transaction,
When asked if there was still any
doubt expressed about the sale Mr..
Pratt said there was. He said that
Mr.. Thayer, Of boston, sold his
stock, at the same time making an
agreement to call on the other stock
holders, with whom he had much in /.
tiuence, and prevail on them to sell
theirs. Mr.. Thayer did not possess
a majority Of the stock, and it was
necessary for him TO 90 among one
thousand two hundred stockholders
to make it up. The total amount of
stock in the Philadelphia, Wilming>
ton and Baltimore was something
like ABS 900 shares and the amount
required for a majority was 120 900
shares. Mr.. Thayer had not sue
ceeded in getting the l20, 900 shares
up to to- day, but he did not know
what had been done in Boston dur
ing the day. Mr.. Pratt was quite
earnest on the subject of q change
in the Board of Directors and when
a telegram from Philadelphia was
shown him, which SAID that the new
Board of Managers would comprise
Jay Gould, Robert Garrett, John
L. Welsh and possibly himself, he
said the purchase was made for the
purpose of making money and it
was not likely that the present di-
rectors would be turned out. Mr..
Hinckley would undoubtedly con-
tinue to be president of the road,
and, unless some of the present
managers resigned, which was not
likely, the board would remain as it
now is.
John w. Davis, assistant TO Mr..
Garrett, SAID tonight that there must
necessarily be some change In the man
agsment of the Philadelphia, Whining
ton and Baltimore Railroad. All the
capitalists who compose the syndicate
are prominent men, and he says they
bought the road for business. ALI the
connected with the movement
are friends of the Baltimore and Ohio,
and in the new management it will be
The reorganization Of the
Philadelphia, Wilmington and Baltimore
Road will take place In the early part OF
March. None OF the details of the new
nor of the policy 1t will
pursue, have yet been determined upon.
Much attention will be paid to the in
terests of the peninsula. When asked
the cars of the Pennsylvania
Road would be allowed To run over the
Wilmington and Baltimore
Mr.. Davis said he knew of nothing to
prevent them from doing so. 1t has not
yet been determined whether or not the |
Adams Express cars will be allowed to |
run over the Philadelphia, Wilmington
and Baltimore.
A reporter was told by Mr.. Cas.att,
first vice president OF the Pennsylvania |
who was here to day, that he |
did not think the Pennsylvania Road |
would be injured by the sale Of the |
Wilmington aud Baltimore.
He believed that the cars of his company
would run over the Philadelphia, viii |
mington and Baltimore as usual. |
officer Of the Pennsylvania Rail
road stated that If the terms are not
offered by the Baltimore and Ohio it is.
possible that the Pennsylvania Road
would build line to compete with the
Wilmington and Baltimore
Road.
WHAT PRESIDENT HINcKLKY SAYS. |
President Hinckley " wasinterviewed on |
Wednesday as 10 whether a majority of |
the stock had been really purchased and |
he said:
"rhe syndicate has not secured a ma.
lority of the stock up to this time, but l |
don't doubt they will get it,"
"At what price were the share purehaS
ed?"
"The price paid was $40 and Mr..
rhayer insisted on the syndicate taking
all the shares offered at that price up to
March l6. This protects the minority
There is no doubt but the
shares could have been sold at higher
rate If the large stockholders had been
enough TO make some pro
vision for smaller stockholders. know
hat 500 per share could have been had
sasily several times during the past few
MONTHS"
THE CONTROLLING INTEREST OBTAIN
nd YESTERDAY.
PHILADELPHIA, February 24.-A
gentleman here who is interested in the
Iyndicate that tonight that majority
IF the shares were now purchased and
n the possession of the syndicate, the
necessary additions to Mr.. Thayer's
shares having been obtained to day.
THE JUNCTION ROAD TROUBLE.