The Panola weekly star. (Sardis, Miss.) 1882-18??, 1885-11-28
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Wtih saeesss ~ Arrangement Fhst viii
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Nfw fnhE, November ~ -Ata meet
Ing " the stockholders n lhe Staten IL
land Rapid Transit Company held in this
rity yesterday afternoon, contract was
ratified Whleh Rises the Baltimore q ohio
Hslfuad Company NE control ~ The
property " ihc afai named company
This result hns been reached after pro.
ifaclrd negotiations and secures IA The
Baltimore 4 ohio ample terminal laclll
ties ai this port with which II viii con
meet BY m independent line. The con
tract was ratified by The stockholders Of
the Baltimore 4 ohio Company at iheif
recent annual meeting, but theIr action
upon II WIS kept secret until other qucs.
tlpns rotating 10 the connection could bc
settled According TO the scheme nov
contemplated, The Baltimore Ohio Rail
road viii come "a far ~ the Read
ing depot In Philadelphia over
its own tracks, which II IL now
completing Mt total cost oi about
ell 100000 From Philadelphia and
Bound Brook, n, y, II viii run over the
Philadelphia 4 Reading tracks under u
modification ot its contract with that
company from Bound Brook The Batl.
more Ohio VIII build about eighteen
miles Of road TO Ellzabcthport, whore II
will connect with the Staten Island sys.
TEN. The connection will be made by an
Iron bridge or vladnct, about 600 feet
long, over the Arihurkill This bridge
win cost, II ~ estimated, less than
$500, 900 The road from Bound Brook
T. Ellsabethport will be practically Q
straight line through comparatively
level country, The rights Of way have
been sccnred, and the entire cost Ia estk
mated at about 81 ,600,0 900. The monsy
Is said TO be In hand and the contracts
awarded.
TnE CONTRACT.
The contract between the Baltimore &
Ohio Company and the Staten Island Rapid
Transit Company provides that The
former shall guarantee the principal and
interest OF the bonds OF the latter, the
total issue Of which will probably amount
to S2,000,000. The Baltimore 4 Ohio nc.
quircs onc.hall Of the 100000 stock OF
the Transit Company. This road will be
completed within month aud the equip.
ment ls now ready for use. The facilities
aanntrnI htt fb., a nI,l., a..
besides the road mentioned, gbout two
miles Of deep water front, over 100 acres
Of land aud all the ferries owned
by the Staten Island Company and the
dock facilities that II contracts New
fast steamers will be put upon the
ferries by which II IL declared the time
between Staten Island and the Battery
will be reduced 10 about fifteen minutes.
That will be pretty fast going. The pas
senger station Of the Baltimore & Ohio In
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 Wlmnn, who has been the
principal promoter OF the enterprise, and
with the President Mr.. ]. Y. Emmons,
has conducted on the part Of the com.
pany the negotiations which were com.
pleted Saturday.
WHAT THE BALTIMORE A ONO GAINS.
In speaking Of the matter Mr.. wiman
said "By this arrangement the Baltimore
q 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 Phlla-
delphla, as q glance at any railroad map
will show. We obtain the cooperation
OF valuable ally and Staten Island will
be largely the gamer In commercial
sense. The privileges Of the Baltimore 4
Ohio are practically without limit. The
Baltimore 4 Ohio can, II II chooses, Issue
coupon tickets at either Chicago, 81.
Louis or Cincinnati for passage 10 any
station on the elevated roads, and thus
make those lines Its actual tcrmlni. That
would be a novelty for lady travelling
alone 10 purchase her ticket from st.
Louis 10 Twenty-thiri street, New York.
"The freight facilities will be. the most
important point Of nil New York piers
now rent from $50, 600 to $4,000 q year
and are too costly 10 be used for storage,
consequently the bulk Of that business
passes out II the hands of the railroad
companies and goes 10 Brooklyn, causing
increased expense for lighterage and
doubling handling. At Staten Island we
-. ftafs a A.
twelve miles of the best water front IN
the entire harbor. Unlimited space
can be secured 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 al lower rates. In
short the Baltimore G Ohio has for all
time carried Its Eastern terminus 10 the
harbor of New York and can increase lis
facilities according to It's needs. OF
course this will make the island part Of
New York, the presence Of the Baltimore
6 Ohio will increase Its population and
property will naturally increase Its value.
Staten Island Is all right now"
IL Is said upon good authority, that
owing 10 Inside knowledge Of the deal
over ti 10000 Of real estate has changed
hands 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, Il was generally considered q
bear argument Of Jersey Central and II
was also feared that II might result In
reopenlng Of the trunk line differences.
The determination Of the Baltimore a
Ohio 10 reach this city has long been
known 10 the other companies, 10 say
nothing Of the public, and It's assent 20
the new trunk limo agreements have been
with the understanding that II would do
so. Hence II Is rather difficult 10 see how
much Of disturbance can be created IN
III lts new line IL completed.