New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-06-21
SALE or SLEEPING CABS.
THE PULLMAN coMpANY's NEW PLANT.
THE BALTIMORE AND OHIO SERVICE PASSES
INTO NEW HANDS,


Baltimore, June 90 (SpeciaD.-The recent visit to
Baltimore George NJ Pullman, president, and Gen.
eral Horace Porter, vice president Of the Pullman
Sleeping and Palace Car Company, has resulted In the
reported sale OF the Baltimore and Ohio sleeping car
service to tho Pullman Company. The litigation be-
tween the Pullman Company and the Baltimore and
Ohio occupied the attention Of the courts for long
time 1t Is reported that the price TO be paid for the
stock franchise, etc.. OF the Baltimore and Ohio is
$780, 900. President Spencer, of the Baltimore and
Ohio, asked II he would confirm deny the re-
ported deal
IL have absolutely nothing whatever to say about
tho NATTER was his reply
The finance committee Of the Baltimore & Ohio
in session yesterday and It Is said that the sale
was discussed in all its features. The executive COM
mitteo also gave the matter their attention. Tho
price is considered exceptionally good ono. The
company have eghty-fve paror and sleeping cars,
the total value OF which estimated by Baltimore
and Ohio official at 100000. This investment has
paid an annual dividend Of per cent. The average
cost OF paror Is $4,000 and that Of sleeper
$4,000. The Mercantile Trust and Deposit Com
pany has lien upon the property, but for what
amount is not known. By the sale Of the express
and telegraph companies and by loans the Baltimore
In The last year The disposal OF the parlor car
enterprise is in accordance with the Baltimore and
Ohio policy to coDfiDe itself to legitimate railroad
business.
The monthly meeting to-day of the board
Company ratified the sale of the companys sleep
lngcar equipment and the franchises pertaining
thereto a. the Pullman Palace Car Company. The
contract Is to for period Of twenty-five years,
and the Pullman Company agrees to furnish the the
car equipment it requires The sale Will be consum.
mated on June % W. II. Blachford appointed
director in the place of the late T. Harrison Garrett.
The statement of the Baltimore and Ohio for May
shows that the earnings were S1,7164oo; expenses
81 ,243 922; net earnings S471 $685. increase OF
S11,131 over 1887. For the eight months of the
present fiscal year the earnings were S13 2O4, IA
exp a
crease of 4sel7 as compared with the same
months Of the previous year.
The plant consists of eghty-fve cars and few
patent rights which have been hotly contested. The
contract is for twenty-five years, according to the
usual form. The Of the transaction was con-
| hrmed at the Office Of the Pullman Company. Tho
price was not made known, however, and the rumor
that it 81 25O,0O0 said to be incorrect. An
officer OF the Pullman Company declared that he could
not name the price, because 1t depended settle
Of good many matters and the balance had not
been struck All suits account Of infringement OF
patents were includcd in the agreement The nego-
tialons had been going on for long time Immediate
| possession was to be given.
The sale completes the plans Of the syndicate which
| relieved the Baltimore and Ohio Railroad from Its
| financial embarrassment The express business was
sold to the United States Express, tho telegraph lines
The Pullman Company has secured tho sleeping car
| service. The Baltimore and Ohio has been stripped
Of the auxiliary departments, which were an expense
rather than of income. IL will be conducted
and the present management is considered to be one
| of great ability