The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1881-02-23
FIFTH EDITION.
The Railroad sale.

LUTlON-WHAT THE FUTURE WILL
BRING FORTH.
The reported sale of the p, w. &
b. Railroad to Jay Gould and the Bal
timore s. Ohio Railroad, which de-
scended with surprising effect upon
the people of Wilmington, this morn
ing, is now ascertained TO be true,
without a shadow of doubt.
The arrangements were perfected in
the Office of DrexeL Morgan s. Co.,
New York, last evening, the contract
ing parties being Jay Gould, Robert
Garrett, Vice President of the Balti-
more & Ohio Railroad Company, and
Nathaniel Thayer, of Boston, repre-
senting the Boston stockholders of the
p, W. g. B. Railroad Company, who
own a controlling interest in the
road.
1t is also strongly asserted that
Enoch Pratt, of Baltimore, one of the
Vice Presidents of the p, w. 81 b. r.
r., was represented at the conference.
The supposition that the Pennsylva-
MIA Railroad Company was offered
chance is very strong, as 1t is known
that the first Vice President, A. j.
Cassatt, was in New York on import
ant Railroad business, on Saturday.
Col. IL. 3. McComb, representing
the Delaware Western, declined an
opportunity of entering the combina-
ton, as he considered such a course
would not be honorable after mis- re-
cent position before the Legislature of
this State in relation to the franchises
of his road.
The Delaware Western people will
still ask the Legislature to pass the
proposed amendment to their charter,
so as TO be in condition to combine
with the Pennsylvania Railroad, in
establishing, at any time, q through
line in opposition to the state Of affairs
brought about by the recent Develop
ments.
ABOUT PROSPECTIVE DEVELOPMENTS.
The combination is now effected and
regrets are valuless, but still people
think If the Legislature had passed
the Delaware Western bill few weeks
ago, the competing line would have at
once been constructed by the B. 81 o.
people. The latter say the Le.isla-
ture gave promise of dilly dallying
over the bill for weeks, and meanwhile
being offered by the Boston stock
holders chance TO control the p, w.
" B. Railroad, they took it at once, as
1t was clearly to their interest to buy
an old well constructed road, instead
Of building a new one.
As to The future, nothing definite
can be said now. 1t may seem strange
to think of the Baltimore corporation
operating the F., w. IL b and its
Delaware connections, but wise legis-
lation and judicious action on the part
OF the people will prevent any monop-
oily from gaining too strong foothold
in this State.
TELEG RAM OF COL. McCoMB TO PHII,A.
DELPHIA CAPITALISTS.
NEW York, Feb. 1910 a. MI met
Haven and Garrett at last evening.
Their proposition was verbal, not written,
as / Insisted it should have been, aud is
10 this effect: Haven and Garrett are
10 buy control of stock of p. w. Il 3. at
SO, putting us all in, and by working
this market ara TO put 1t TO $I00-we
reaping the profit aud taking chances IL
the future for management of the pro.
perty which they are to get with the
control of the stock now; could, 1 I'm
derstand, to be behind them. 1t is pure.
bald speculation, nothing else. Later In
the evening L called ON Mr.. Vanderbilt
and spent Two hours with him, giving
him what understand 10 be your views
as well as my own, which he entirely
agrees with.
He declines TO go into he speculation
and says he went into the project with
you aud me in the most perfect good
faith to build the road as an investment
believing 1t to be one of the very best
railroad openings now unoecupied; thai
Garrett is committed to us and cannot
honorably stop.
He says, which confirm, that be went
in with these parties himself, you and |.
with the understanding that Garrett or
the Pennsylvania should have a chance
10 come into and participate with us.
He is willing now to stand 70 that agree
ment, to build with business conIrac,
with either Ii. & o. or Pennsylyana. or
is willing 10 go on and build wIthout
either and is further willing TO build
through TO New York If that should he.
come necessary.
la my first interview YESTERDAY with
Garrett / made the point you put To me
IN your last dispatch YESTERDAY. viz .
My position before the Delaware Lepis-
lature aud our people aud told Oar
rett and Haven distinctly that they could
not oner me lnducement large enough
TO make me do an act that would SAVIOR
OF dishonor or stultlfy my pledge to onr
people; that II the project fell through
my record should stand clear and u1-
sullied before my associates and the
people OF my State. After seeing Mr..
Vanderbilt, We met last night at 10 and
| began my statement 10 Garrett and
Haven by repeating this position and
said TO them, | did not want any offer
like what they had first made, repeated
10 me, TO wit:
That | should be taken care of II
would join them, said no care can he
taken OF me other than what Mr..
or Mr.. Vanderbilt accept as a full and
| honorable Identification aud particina
ton. l rep aled what have here CIV.
Ell you as MIR. Vanderbilt's views and
interests, and ended by absolutely re-
iuslng TO be parties 10 their specuiat no
schemes. Garrett telegraphed late lasl
night for Cassa; Il Roberts TO come over
this morning. My impression ia thew
Will not come and will not join them.
\ GU can find out whether either al
them has left for New York.
am 10 meet Mr.. Vanderbilt at 10
TO day and would like your advice and