New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-12-01
THE MONEY MARKET
THURSDAY. Nov. 30--r. VI.


The annual report of the New-York. Lake Ere
.nd Western Railroad Company furnishes some III
NV details of the company's progress in
'aS,ny extensions to branch lines and new con-
"a.,;ors by contracts with other important rail-
WAYS in the West cn.
Tns Bradford branch was extended some hfty
-.,a. IN tive compauy's coal lands situated in the
-..n,,ss of Jefferson ELK and Mexican IN the
s,a,e Of Pennsylvania comprising IN all aoouV
90 600 acres A contract has been niauo
,rith The Pennsylvania Railroad Company Tor the
construction of a road connecting this e1tens'U"
Nth the Pennsylvania low-grado road az a..
c,sek thereby connecting the Erie's sysse" wiz"
the city of Pittsburg .,;aA
tan vears contract was made with the Lenisu
rol,ev Railroad, which connects with the Erie a'
yyavsrlv 1877 miles east of Buffalo, for the enIuo
t,afic coal ana miscellaneous OF the LeniSn W
,sQ Company for all points west OF Wavery' mus
arrangement is an important acceS1on ,oi -"
Erie kailro I'd. but it also has an important
upon the competition betwean the ah'ui"0''0 ~
eompanies in the Western markets
Nav ARRANGEMENTS have been made win inc
pannsvlvania Coal Company for the use oil 'he CO."
oonnanv's lands aud planes over the mountains loi
standard oauge road by which the Erie cars wiz
roach Ms own al land in the Wyoming Vailey a''
the cost # handling the Penns 'iv"nla |o'' N''1
pany's products Will be che pened. -,
pc the nnrchase OF the stock of the Blosso"B
Goal Company the Erie Company secured Inc o" w,
b;o aud control Of about sixtysix mics Oh run
I'D of about 28 900 acr IS of coal lands "nicn 'io
~, aov.loned and pro lueng about 100000 tons
n.,,,. totether with 200 coke overs poluc
n,yt go 900 tons of coke pcr annum Inc lana
, e t,nbersd and has on il two large saw
~" .o,aI in capacity to about 100000 feet Oh
- nor wear Since the acquisition OF the prop
.,o,bsr mill has been completed equal In
oanac,tv 10 both OF the Others The purchase was
IL for g.. 900. OO0-S1 2S5, 900 in cash ana the
Grand Opera-Honse property valued al % I'ooo'
IT, Chicago and A lantlc Ralway-running from
x,ar;on an the New-York, Pennsylvania and ONO
p,ro,d atlantic and Gre Western)-269 miles
80, IN Chicago is expected to Do IN cohult'on i"l
active business early in January next by this Ne"
o.. ond traffic arrangement with the New-iork'
pennsylvania and Ohio road, the Erie secures an III
ssaa"Sen, and direct line into Chicago The road has
49,, III by the contractors for its capital stock
cSto ooo oO0l aud its mortgage bond C$6,5OO,OoOy.
A. ;rrsvocabe proxy ON $9,0OO.OOO OF the
..not IN vote thereon for thirty years, is
ia nv the president of the New-York, Lake Erie
ord Western Company Practically tho interest
on the So 800 900 bonds is guaranteed by the Eric
Company. c....;
Tba combinations relating to the Cincinnati
Hamilton ami Dayton The DAYTON ana Mcnlgah'
tbe Cincinnati. Richmond and Chicago and the
CINCINNATI. Hamilton and Indianapolis roads
which attracted 30 much attention
In and ont Of the courts, in all comprising anon
40 miles of ra Iroad, a G referred to IL the Port
a. fnlIows: AN attempt was made to consolidate
these roads wi h he Cevela id, Colun III a., NIhcIn
natl and Indilnapo is Railroad, under such CIT.
ennis. ance, as led your GO npany to eaf ma II
NouId be embarrassed, If not entirely cut on, rom
. reaching any the points dcSlg mattel over ny ot
The lines in the Cincinnati, Hamilton an Dayto
sys,en; hence such ste as " re detme D ~ Wrre
taken TO secure If possible. theu cnntro OF al I's.
10 preyent their iagc0ntrOlle inintefe Sa verse
10 bos of your company, tIe lesul o. men " e .l
apreeme & with the holders of S2OOD,OOo OF rs
stock that heing majority OF the wholt) oy wiltn
the representative OF your company Oecahe we
purchaser OF the stock. the parties rom Whol vac
purcbase was ma 10 agreeing TO receive oeo eIl ~,
ser i6caiss therefor TO the amount OF @l'ouV'ooV
and YOUR company Oblgatlng itself To make eOOu
any failure of the Cincinnati Company 10 pay
sem-annual dividend of three pr cent upon me
amount of stock thus control ed the Il le 10 ths
stock aud the voting power thereon remaining WIN
your company OF IT, representatives i1drhnte 90
The conpany's fiscal years end on september 9V;
30 that tn present. report covers a tW:lFe mOlpt
bnsiness ended ,eDtenber 80, 1857. Inc tramc OF
last year compares with that OF the preceding
ell,