New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-04-17
RAILROAD INTERESTS.
LARGE PURCHASE OF STOCK

The control of majority of the STOCK Oh
the Cincinnati, Hamilton and Dayton Raiiroau 'oni
pany has secured by Hugh j. Jewett presiden' vi
the New-York, Lake Erie and western hairo"u 'o'h
pany The purchase wac made by Mr. Jewett lhdNiuu
ally but it was in the interest OF the company OF weh
he president The price paid Is UNDERSTOOD 10 oo par
II was bought from pool which has been in exist
for about couple OF months Since MONDAY nish'
pool committee composed OF william hooper, hehry
Hanna and NJ. Work. OF Cincinnati, have peeh III this
city, and Saturday night the negotiations Win MI
Jewett closed and the papers signed Payment s
to be made in cash.
The transaction Is OF great Importance to the Erie
system as 1t secures to that company an outlet to I'm
cinnati and the Southwest 1t is expected tnat III
about q year the Southern railroad system cohroneu
by the Erlanger syndicate will be completed ana III
rect line will then be open from Cincinnati 10 Nc"-or-
leans Mr.. Jcwetts purchase grew out OF the Steps
taken by W. H. Vanderbilt last year TO embarrass the
connections of the Erie Road with the West and
Southwest The Vanderbilt roads were shut to
Eries freight lincs and Mr. Vanderbilt supse
quenty secured the control OF the Cleveland Conous
Cincinnati and indianapolis With the last-nanod ROAD
In hostile hands, the Erie prevented from rcacnng
Cleveland and Indianapolis The Cincinnati. Hamilton
and Dayton Road from Dayton TO CINCINNATI oio'
about sixty miles The Erie reached the latter city by
ifs connection over its ally the NewYork Pennsylvania
and Ohio X ,Ilroad. from Salamanca - Dayton, anu
thence over the Hamilton and Dayton Road. The Day
ton Road heretofore has been controlled y the CeVe-
land Columbus Cincinnati and indianapolis Company
which owns one block Of 92O0 of the former cor
poration Mr. Vanderbilt attempted 10 consolidate thc
two lines under the OF The Ohio Railway company
The Ohio courts decided against the lcgay Ol the coh
sOlidaion. =, ,..t-..,
About rte middle OF last February, prior the decron
which however had been expected 10 he adverse oFe
Vanderbilt interest the outside stockholders OF the Cln
cinnat Hamilton and Dayton Road pooet he stock or
PURPOSES of seifprJtectOn Eventually more tha ma
orty of the 100000 capital stock the company was
placed in the pool On March 30 the pool sOc khouefs
authorized the sale OF their stock in one OlOck, az
par, and a willing purchaser was iound III
Mr. Jewott. Tue contract stipulates mat
5O1 shares shall be delivered to the purchaser but
Mr. Jewett undertakes to buy an additional amount UP
10 a certain limit Understood to be about $1,000 shares
This surplus stock was adlnlleu 10 the poo ai'ei "
Oriy had been secured. 80 . ,,,,.,
The ne1t annual meeting OF the Cincinnati Hamilton
and DAYTON Company will be held on June o. II If un
derstood that j. II. Deverrux and S Burke OF Clhcln
natl pronounced Vanderbilt directors Will pe reurcd
and replaced by Erie men. IL IL not known WIZ" otner
changes Will be made. The remaining directors
originally were elected in the interest OF the cleve
land Columbus Cincinnati and indianapolis Dut II thcT
devotion to the DAYTON Road is greater than tnel sym
pathv with the Vanderbilt management OF tue 'leve
land Company many Of them may retain thelr places
under hc ewett control IL Is sad by Erie people that
the Cincinnati Hamilton and Dayton Road VIII not DC
managed hostiely TO Mr.. Vanderbilt, provided proper
understanding can be reached with him. Mr. JeWetts
purchase they say not dictated by any aggressive
spirit but only by desire TO protect the Eres outlet 10
the Southwest. =. -, - A. 10
Mr. Jewett last evening declined to speak OF the de
tails OF his purchase. He, however connrincdH'