The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1885-07-29

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z Tax RArIEosp D1cKKE.-The Southern
PenusyivAnia syndicate met in View York
|last week. at the Office Of the Treasurer, II
Mex. TwombIy That gentleman submit.
ted vauderbilr's proposal to take Up
the subscriptions paid in at per cent. Out
OF the I5,oo0, ,eoe pledged 10 the syndicate,
about S, so, 900 had been paid in Mr..
|Twombly,s reasons for urging the accept
ance of this offer were the litigation in
which the South Penn was involved, and
the probable failure Of several traffic con-
[tracfs which had been made with the Read
|ing and New Jersey roads. Some yery
lively objections were made by some of the
subscribers, and Mr.. Vanderbilt was criri-
|cised for abandoning an enterprise which
had promised 50 much Mr. Twombly de-
|fended Vanderbilt as best ne could. bnt
could not be induced 10 openly state who
was the proposed purchaser of the South
|Pennsyivania The meeting took no ac-
|tion, it being held that it had no legal au-
|thority to pass any formal resolution. Van
|derbilt's friends say that he viii be able To-
(effect the sale, as he owns one-third of the
|South Penn interest, and be can secure
Ieaough backing 70 control.
The following significant article is taken
from Chairman Hensei's Lancaster hltei6geS-
Ior:
The newspapers report very confidential
!ly the conclusion of the negotiations be.
tween Vanderbilt and the Pennsylvania L.
L., and tell Us that the Beech Creek and;
|South Pennsylvania Railroad builders arel
Summoned 10 New York TO hear the result
land accept the terras their associate, Yan-I
|derbiIt. has made for them. The Pennsyl-!
|vania Road is 70 get 60 per cent. Of the Beech.
Greek Railroad stock and the Clearfield Coal
Co.'s stock, and IS To guarantee the payNenti
|of interest upon bonds representing the cost
|of the Beech Greek and South Pennsylvania
and is to be given full control oil
|the latter. Ii is pretty scheme for the ex
of rivalry to the Pennsylvania
Road but, though sworn to be all settled (
we continue TO indulge our doubts of the ac-
1t is surprising enough that Mr.. vander-s
|biit should desire thus 10 retire from his1
well considered Pennsylvania projects thats
are 50 promising of fruitful results And it
will be more surprising If the reputable gen
tIenlen associated with him consent to ac-
company him in his retreat. or rather TO be-
kicked down the stairs ahead Of him. Wes
know some of them to be men of staminaS
and stature, with abundant ability withal ros
command the capital TO compass their de- 4
sires. They are not men 10 be treated byf
Mr. Vanderbilt as his slaves
We would like 10 know how Senator VIM.
A. Wallace, of Pennsy lyalia, would look Z
from the door AZ the end Of MrE
Vanderbiits boot. Senator Wallace is not az
man to be thus treated. lie is not likely tok
assume the posture. Somebody viii get hGrst.
before that thing * successfully done. aldtl
when Vanderbilt gets through with our oldkI
friend Hostetter, too, he will begin to En-t
derstand that his hundred millions are uOti
as big as he thought they were.
You see there il good deal of law stand
ing in the way of this deal, and even if Sem :,
afor Wallace and the other hitherto repnta- !.
bic men supposed 70 be engaged in il were:Ss
so, they would have 20 run anuck against
the State of Pennsylvania and its Attorneysii
General. to say nothing Of the Reading Rail Z
rOad and Balto. and Ohio. before they g0t..
through with IL And if Mr.. Vanderbilts 4
partners are yirtuouS and self-respectful !
enough 10 kick back at him, they can bury
him deep under the law. q
The Constitution of Pennsylvania says !
that no railroad, canal or o6her corpora h
ton, or the lessees. purchasers or managers 1
Of any railroad or canal corporation, shall J
the stock, property or franchis- =
rs OF such corporation with, or lease or pur
chase the works or franchises Of. or in any ]
way control any other railroad or canal cor i
poratIou owning or having under its con- :
troll a parallel or competing line"
uraa fs1r ~. c.,r-a- ir1sr zrcb q
iieker as this IS reported TO be, and its terms j
are sufficient for its purpose. The Penn
svlvania Railroad cannot directly or indi-
rectly obtain the contral ofeither the Beach
Creek or the South Pennsylvania road IL
is not possible for il in any way 70 so whip
the devil around the stump as to lawfully
DO what il IS said 10 propose to do. And it
S 10 be assumed that what il cannot lawful
" 10 it will not be able 10 DO and, there
fore, that all this talk Of its swallowing /
these conflicting roads IS made for stock
joboing PURPOSES
1 SHorse power boiler-uurisht