The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1885-11-28
WON AT LAST.


and Send Staten Island Property Boom.
ing.
NEW YORK, November 23.-At meet
ing of the stockholders of the Staten Is
land Rapid Transit Company, held in 'y.hs
city yesterday afternoon, contract was
ratified which gives the Baltimore & Ohio
Railroad Company the control of the
property of the first named company.
This result has been reached after pro-
tracted negotiations and secures to the
Baltimore & Ohio ample terminal facili-
ties at this port with which il will con-
meet by an Independent line. The con-
tract was ratified by the stockholders OF
the Baltimore & Ohio Company at their
recent annual meeting, but their action
upon it was kept secret until other ques-
tions relating to the connection could he
settled. According to the scheme now
contemplated, the Baltmore& Ohio Rail-
road will come as far as the Read
ing depot in Philadelphia over
its own tracks, which it is now
completing at total cost of about
$ll 100000. From Philadelphia and
Bound Brook, N. Y, it will run over the
Philadelphia & Reading tracks under a
modification of It's contract with that
company from Bound Brook. The Balti-
more & Ohio will build about eighteen
miles of road to Elizabethport, where it
will connect with the Staten Island sys-
TEN. 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
100000 The road from Bound Brook
to Elizabethport will be practically
straight line through 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.
THE 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 81, 100000. The Baltimore & Ohio ac-
quires one-half of the 100000 stock of
the Transit Company. This road will be
completed within month and the equip
ment is now ready for use. The facilities
acquired by the Baltimore & Ohio include,
! besides the road mentioned, about two
miles of deep water front, over $50 acres
of land and all the ferries owned
by the Staten Island Company and the
dock facilities that it contracts. New
| fast 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 in
this city Will be at the foot of Whitehall
/ street and close connection with alfof 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. Il. Emmons,
has conducted on the part of the COM
pany the negotiations which were COM
pleted Saturday.
WHAT TIE BALTIMORE & 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
lance between New York and Phila-
delphia, as a glance at any railroad map
will show. We obtain the cooperation
of Il valuable ally and Staten Island viii
be largely the gamer in commercial
sense. The privileges of the Baltimore &
Ohio are practically without limit. The
Baltimore G. Ohio can, If 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 a lady travelling
alone to purchase her ticket from St.
Louis to Twenty-third street, New York.
"The freight facilities viii be the most
important point of all New York piers
now rent from $4,000 to $4,000 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 Tor 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 for storage ware
houses, and vessels can be laden
direct from the cars. Merchandise for
warded from the West for exporta-
ton 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 its Eastern terminus to the
harbor of New York and can increase its
facilities according to its needs. OF
course this will make the island a part of
New York, the presence of the Baltimore
& Ohio will increase its population and
property will naturally increase its value.
Staten Island is all right now"
1t is said upon good authority, that
owing to inside knowledge of the deal
over 81, 100000 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