The Sunday tatler and Jersey City express. (Jersey City, N.J.) 1883-1886, 1886-09-05
THE B. AND 0. TERMINAL.
THEY WILL HAVE 4 DEPOT OF THEIR
OWN AT COMMUNIPAW

OHN AZ COMMON4I-AWs
More About the Great Terminal Project ON
Newark and New York Bays-Solid New
York Financiers Interested-The Lease
with the Central Temporary Alliance.
1t may, and very likely will, happen that
the story told several weeks ago in these
columns about the Baltimore and Ohio
Railroad having a terminal CT its own on
the Hudson County shore of New York
Boy is the nearest correct of any thing that
has teen said about that somewhat mystic
rious affair. 1t is true that the Baltimore
and Ohio have signed lease with the New
Jersey Central and Philadelphia and Read
ing, but what are the terms of that lease
We will see. In the first place, the B. and
O. agrees to build no competing line be-
tween Bound Brook and Elizabethport;
but low careful they have been not to
commit themselves as to their plans for an
entrance to the harbor through Hudson
County Again, the B. and 0. has obi
gated itself to land its freight and passen-
gers in New York by way of the jersey Gen.
trail for two years. The lease reads that its
passengers shall reach New York that way
for term of six years, but for the last four
years of the term whether or not the road
shall do this is optional with the B. and O.
folks. The truth of the matter is this
Some big New York capitalists have gotten
together and formed big terminal con-
struction company. They have acquired
besides right of way at no place less than
the necessary 100 feet strip required by
railroad across the county from Newark to
New York Bays, immense water frontage
on both. It is their purpose and intention
to construct mammoth freight, coal and
passenger wharves on the water fronts of
both bays, and the Baltimore and Ohio
Railroad Company, and possibly the Lee
high Valley, viii be their occupants. The
scheme is backed by such financial men as
Eugene Kelly and the Konutze Brothers
the former, one of the latter, and Reed, of
the Hoffman House, being three of the
Directors of the Company.
Mr.. @. j. Peshal said on Friday to a
TATTLER reporter cit is not true that I
mortgaged my property to raise 81, 900 to
pay on the foreclosure sale, for fear of
being brought to round turn for con-
tempt of court. have purchased large
tracts of land, not on option contracts, but
outright, and am paying the hard cash for
them as fast as the titles can be completed.
Of course I'm not buying this land for my
self, nor with my own money. am acting
for principals. have $3S, 600 in my hands
now to pay for property. Whatever diff
Guilty ever evidenced in raising money
was to throw property owners in the vicin-
ity was purchasing off their guard, and I
succeeded in doing exactly what started
out to do. even if I did have to make it
appear at any time that was pressed for
money
He further said that it was the intention
of the B. and o. folks to have their termi-
nal facilities on New York and Newark
Bays.
us the water deep enough for heavy
ferryboats and floats in front of the land
you have acquired ?"
s.If it is not, it can be made SO. In fact,
it is proposed to fill in the bay $500 feet.
This can be done for 81, 800 per acre, and
and the moment it is done, the land, as
bare land, is worth easily $1,000 an acre.
The water will then be at the depth of nine
feet, and the Pennsylvania Railroad ferry
boats draw only six feet of water. AS for
the B. and 0. having their terminal on
Staten Island, they never will. How do
account for that? Why, man, they could
not handle their freight between the Island
and New York at all during the Winter.
There SO much ice in the bay and harbor.
especially at Staten Island, much of the
Winter, that it is all that the ferryboats can
do to get through. This being 30, would
like you or any other man to suggest how
they're going to get dozen heavily loaded
freight floats through every day. In short,
they cannot and don't intend to-"
Another gentleman, well versed in the
whole subject, said
sIt's the biggest terminal scheme ever
conceived, and when the wharves and docks
are completed, the Company will have
property worth $25 ,000, 000 1t will be
better terminal than the Pennsylvania
Railroad has to-day-any why? In the first
place, this Company has a larger frontage,
and while it may not be so valuable per
acre, the aggregate will be infinitely greater.
Where can the Pennsylvania acquire any
more water front than they have now ?
They can't purchase hundred feet at any
price.
''But is the B. and Q. to have this termi-
nal?"
Il don't care who's to have it, for that
cuts no figure. I presume the B. and o.
can have it if they pay enough for it. OF
one thing rest assnred-it will not 90 beg
ging, and every one should know that the
men who are in this are not in it blind
folded. They are not the kind of men who |
put their money in wildcat speculations. p"
This gentleman alse strongly intimated |
that the Baltimore and Ohio had their finger |
largely in the pie, and that G. j Peshall was
the duly accredited agent of the Company.
Mr.. Peshall also stated that the B. and o. |
was the largest stakeholder in the concern. |
Cserhan American school Picnic.
: One hundred and fifty and odd happy |
nhi1drar, aaf1xr and rara}fiIxr draroad L