The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1885-11-27
WON Ar LAST.

WON AT LAST.
The Fight Of the Baltimore q ohio for
Tsrminai Facilities in New York Crowned
!. With Success--An Arrangement That win
Rebound to the Success OF the Company
Y and Send Staten IsIand Property Boom
K Ing. $E #
New YORK, November 23.--At meet
ing Of the stockholders Of the Staten Is
land Rapid Transit Company, held I'll this
city yesterday afternoon, contract was
ratified which gives the Baltimore & Ohio
lRailroad Company the control of the
property Of the frst named company
This result has been reached after pro-
tracted negotiations and secures to the
Baltimore g Ohio ample terminal facili.
ties at this port with which it will con.
meet BY an Independent line. The CON
tract was ratified by the stockholders OF
the Baltimore 8 Ohio Company at their
recent annual meeting, but their action
upon IT was kept secret until other ques-
dons relating to the connection could be
settled. According to the scheme now,
contemplated, the Baltimore 6 Ohio Rail-.
road will come as far as the Read
Ing depot In Philadelphia over
its own tracks, which 1T is now
completing at q total cost of about
$ll,o00,0oo. From Philadelphia and
Bound Brook, N. Y, 1t will run over the
Philadelphia & Reading tracks under a
MODIFICATION of its contract with that
company from Bound Brook. The Balti.
more e Ohio will build about eighteen
miles OF road to Elizabethport, wheresits
will connect with the Staten Island sys.
tenn. The connection will be made by an
IRON bridge or viaduct, about 600 feet
long, over the Arthurkill. This bridge
Will cost, it is estimated, less than
$500, 900. The road from Bound Brook
70 Elizabethport will be practically a
straight line through q comparatively
level country The rights of way have
been secured, and the entire cost is esti.
mated at about 81 100000. The money
Is said to be in hand and the contracts
awarded W0H iRiss bee ~ RN F1S~R
Is @sf a..sts THE CONTRACT. 81 : ssiss
The contract between the sBaltimore &
Ohio Company and the Staten Island aapid
Transit Company provides that the
former shall guarantee the principal and
interest of the bonds of the latter, the
total Issue OF which win probably amount
to $2,000,000. The Baltimore & Ohio ac-
squires one-half sof the 850o,O0O, stock Of
the Transit iCompanysa This roadwill be
completed within month and the equip.
ment is now ready for use. The facilities
acquired by the Baltimore& Ohio inclffde,
besides the road mentioned, about two
miles OF deep water front, over l50 acres
OF land and all the ferries owned
by the Staten Island Company and the
dock facilities that 1T contracts New
last steamers will be put upon the
ferries by which it is declared the time
between Staten Island and the Battery
will be reduced to about fifteen, minutes.
That will be pretty fast going, The. pas.
senger station of the Baltimore & Ohio Iii
this city will be at the foot of Whitehall
street and close connection with all of the
elevated roads. Arrangements for this
connection have been perfected. The
Staten Island Company originated largely
with Erastus Wiman, who has been the
principal promoter of the enterprise, and
with the President, Mr.. j. f. Emmons,
has conducted on the part of the com.
pany the negotiations which were com.
pleted Saturday. - ..s
WHAT THE BALTIMORE q OHIO GAINS.
In speaking Of the matter Mr. Wiman
said: "By this arrangement the Baltimore
& Ohio secures an independent and unre-
strained entrance to the harbor of New
York, with extraordinary facilities for
erecting passenger and freight depots,
storage warehouses, coal yards, etc.. BY
the new route they also shorten the dis
tance between New York and .Phila-
delphia, as glance at any railroad map
will show. We obtain the co-operation
OF valuable ally and Staten, Island will
pe largely the gamer in commercial
sense. The privileges of the Baltimore & !.
Ohio are practically without limit. The
Baltimore & Ohio can, IL it chooses, issue
coupon tickets at either Chicago, St.
Louis or Cincinnati for passage to any .
station on the elevated roads, and thus
make those lines Its actual termini. That
would be novelty for o lady. travelling
alone to purchase her ticket from st.
Louis to Twenty-third street, New York. !
"The freight facilities will be the most
Important point of all New York piers
now rent from $50, 900 to $4,000 d year
and are too costly to be used for storage,
consequently the bulk of that business
passes out of the hands of the railroad
companies and goes to Brooklyn, causing
increased expense for lighterage and
doubling handling. At Staten Island we
give the Baltimore & Ohio access to
twelve miles Of the best water front in
the entire harbor. Unlimited space
can be secured x for storage ware
houses, and vessels can, be laden
direct from the cars. Merchandise for.
warded from the West for exporta,
tion will here reach the railroad without
breaking bulk and can be held in storage
for Western shippers at lower rates. In
Short the Baltimore & Ohio has for all
time carried it's Eastern terminus to the
harbor Of New York and can increase it's
facilities according to its needs. OF
course this will make the island part OF
New York, the presence of the Baltimore
q Ohio will increase its population and
property will naturally increase its value.
Staten Island Is all right now"
II Is said upon good authority, that
owing TO inside knowledge of the deal
over 81 ,600, 900 of real estate has changed
bands on Staten Island within the. last
two weeks at advancing prices. In Wall
street, when the news that the agreement
had been consummated became public
property, 1t was generally considered
bear argument OF Jersey Central and 1t
was also feared that itmight result in sai
reopening of the trunk line differences.
The determination of the Baltimore &
Ohio to reach this city has long been
mown TO the other companies, to- say
nothing of the public, and Its assent to.
the new trunk hne agreements have been
with the understanding that 1t would do
So. Hence 1t Is rather difficult to see how
much OF Q disturbance canabe created un.
til Its new line is completed, ,,sss II y,
eisHt