Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-08-10
BARLOw's AFFAIRS.
Barlow Reticent ~ 10 ArranSenents-
Reported Sale of the Southeast.
err ROad-The Sale Leaves
Him q Handsome
Surplus.

MONTREAL, Aug 8.
The Southeastern railroad was purchased
today from Bradley Barlow BY syndicate
composed of Geo. d. Chapman of the Nation
al Construction company Of New Jersey,
Ashley Hibbard, Walter Stanley of Montreal.
and James Mitchell of London, Eng. for
90 800 600 cash. This will leave Barlow a
surplus of about 1856, 600. after paying of ali
liabilities. including 81, 400, 600 to the Cana
dian Pacific road. This sale is considered a
big euchre on the Canadian Pacific company,
who supposed they controlled the Southeast
ern road, and cuts off their only connection
with Boston and Atlantic ports. The pur-
chasing syndicate is supposed to represent the
Grand Trunk and Central Vermont interests,
as Hubbard has been working against the
Canadian Pecifc all along. Chapman is here,
and Mcintyre and Stevens of the Canadian
Pacific have left for New York to interview
Barlow.
ST.. Adams, VT, Aug. 8.
Bradley Barlow returned from New York
this morning, but refuses to give any inform
alton concerning the reported sale of the
Southeastern road. He says, however, that
satisfactory arrangements were likely to be
made soon. Comptroller Knox of Washing
ton arrived today, and is examining the az
fairs of the bank, and definite statement of
some kind is expected before morning
Later developments have rendered to create
more hopeful feeling. A meeting of the
creditors of the Southeastern railroad will be
called at an early date, and il Barlow Is I'M
successful, decisive steps will be taken, as its
creditors are already pressing claims. 1t is
stated that claim of nearly $4,000 is al
ready entered against the Southeastern road
by Montreal, on a protested note. Consider
able feeling exists against Brainard and the
directors of the Trust company for their
seeming lack of knowledge of the company's
affairs. One director acknowledged this
morning that he knew nothing about their
business. The public feeling is that the
funds have been handled in a careless man.
ner, to say the least.
The last developments in the Vernon.
National Bank matter is the alleged state
meDt of Geo. Hendee who has completed the
examination and Comptroller Knox has auth
orized the following: The cash and notes
which will soon be available and will be paid
in full from other assets and collaterals, and
negotiations are now in progress to that end.
The comptroller has appointed George W.
Hendee receiver of the suspended bank and
he enters on the duties at once. The dim
uncertainty in which this statement abounds
is not calculated to assure the public, who
are not certain that it means anything. Thev
can only gather from it that it has been sus-
pected all along that the disposal of the
disposal OF the Southeastern railroad, failure
to sell, detirmins the whole matter. Ii the
sale is made before the attachments are in
stituted there is some reason for hope, other
wise there is not much.
The uter absence of any information as to
the liabilities of the bank or estimates as to
the value of the securities for the loan of
S3l9,OOO to the Southeastern railroad creates
feeling of distrust and the statement is
considered of no value. After four DAYS the
public looked for some reasonable statement
as to the condition of the bank. and Comp
trOller knOxs announcement is far from salts
factory. The confessions of the directors that
they knew nothing about the company's bus
mess nor what was being done with the funds
reveals species of management over which
the depositOrs are indignant.
The uncertainty among business men and
private depOsitOrs will soon be done away
with should relief come soon. Public con-
fdence has worked here for many months,
yet people are ready to give credit for good
intentions and moves in the right direction.
They will be exceedingly glad to have Bar
low accomplish the sale. All Barlow has to
say tonight is that parties are now inspecting
the road, but he can say nothing as to the
prospects.
rumor by the way of Montreal credits Gov.
Fairbanks with desire to get as much of the
Southeastern as his road can.