The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1883-01-24

Mr.. Vanderbilt's investments in
Pennsylvania are assuming huge
proportions. More than a year and
3 half ago he began buying Reading,
and he has continued it until he
stands nearly where the McCalmonts
did prior to 1882. Until very re-
Gently people have believed that the
New York millionaire went into
Reading as a speculation, and to
give Mr.. Gowen some needed aid at
the annual election of 1881. Rich
men often speculate, but they are
rarely sentimental, ana the truth is
Mr.. Vanderbilt did not invest a cent
until the Reading properties had been
thoroughly examined by one of the
best coal and railroad experts in the
country, who presumably made a
favorable report. For more than a
year Mr.. Vanderbilt has been in
creasing his interest, and his very
large following in New York have
done likewise, and it is believed he
is still willing to make further invest
ments.
Meantime Mr.. Vanderbilt has not
been idle in other sections of the
State. He is building a railroad
which will give the Reading a North
ern and Western outlet from Will
Transport, and he has under way a
branch from Jersey Shore to the
Clarified coal regions, where he has
purchased a vast area of bituminous
territory. This road may he extend
ed to Johnstown. on the Pennsylva-
MIA Railroad, TO connect with the
Baltimore and Ohio extension at
that place. But the most important
of all Mr.. Vanderbilt's schemes is
the South Pennsylvania, a road
which will parallel the Pennsylvania
from Harrisburg to Pittsburg and
Wheeling. This line will be some
what shorter than the Pennsylvania.
and it will traverse a region rich in
agriculture and mining. Negotia-
tons are going on in the inter-
est of Mr.. Vanderbilt for the Pitts
burg and Lake Erie, which line will
be very valuable to him when his
railroad is completed, and there are
other schemes, including an extern
sion from Williamsport East to the
Bradford county coal regions.
1t will be seen that Mr.. Wander
bits plans are very comprehensive.
His original idea, no doubt, was to
build the Pine Creek road in order
to recover enough of the Western
anthracite carrying trade, which has
become very important during the
past ten years, to compensate him
for the loss of the local business
taken away by the Buffalo extension
of the Delaware and Western Rail-
road. His other schemes strike at
an advantage which the P%ennsylva-
MAS large local business he's always
given that line. The very valuable
local traffic, of the Pennsylvania has
made that road almost independent
of through traffic, which the other
trunk lines must depend upon. In
a railway war this great road has al
ways escaped with less loss than its
rivals, because its main line traffic
was so heavy and remunerative that
a loss on through traffic could be
borne with almost no serious incon
venience. In the contest of 1881
this made the Pennsylvania the
master of the situation, and Mr..
Vanderbilt does not propose to fight
another such unequal battle. When
the latter's new roads are completed,
some two years hence, he must en-
croach upon the Pennsylvanian's
business and the Western coal traffic
of the Lehigh Valley.
IT is too early to estimate the effec:
which Dir. Vanderbilt's invasion of
Pennsylvania will have on our home
roads. He has proceeded on a well
defined theory, and he has no doubt,
fully calculated the cost and the
probable return. In any event he is
too wise a financie to invest his
money without a sure prospect that
it will pay, and it may be taken for
granted that all his roads will origi-
nate a valuable new bu-iI.e ss, though
they may trespass somewhat on that
of the present ines.-Philadelphia
Press.