The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1888-05-16

iates, agreed 10 the s,oEsd subscription ~ wei
as the acceptance Of their proportion Of pre-
ferrsi stock. At the meeting H. Mex
Twombly declared that be stood ready to
take the remaining s5.ae1Q bonds. il the
other subscribers did not take their quota
SIR. Twombiy did not represent the Wander
bits in this Offer II is understood that he
was acting for other prominent syndicate
members I; is denied that he represented
the Pennsylvania Railroad indirectly. One
theory that has been advanced is that the
road would be completed. with an UNDER
standing that it would be turned over to the
Pennsylvania for guarantee on the bonds.
or. perhaps. guarantee On both bonds and
stock The syndicate members deny this
emphatically. They expect TO meet some
further opposition in the courts from the
Pennsylvania road. but arc confident ofthe;r
case
The new bonds win be fsty year gold ones
bearing six per cent interest.
WHAT rIrTsEUR RaH STOCKHOLDERS HAVE TO SAY.
John W Chaliant. If Allegheny, proiessed
last night 10 be a great knaw-notLins con-
cerning South Penn Railroad affairs. = !
don't know anything about il, = he chueklesi
as be ligiIiei cigar and assumed very
comfortable position in his big chair In his
ehuckle. however, there was I ring of conf
plaeeft satisfaction, which expressed better
r,jnyirating process the South Penn project
underwent in New York Really, be con-
iinued. a. was not at the New York meeting
ard al know about il have Rad in the
papers lisa 60 though, you can deFend on
that; II viii be 4 good thing for Pittsburgh,
and there is plenty Of business for sach a
road / don't take nIncf 1toek, however, in
the story that the Pennsylvania Company
only carried ss per cent of the freight offered
il in iss7. guess they ger all their freight
through, and Mr.. clialfant chu. kled again
He Is evidently well pleased at the turn mai
tcrs have taken.
oh, yes. said Mark W Watson, at his
home on Lincoln avenue. Allegheny, there
isa a doubt about the South Penn Row, bot
there's nothing new in it beyond what you
have already published 1t has been rrjusi-
naie,i and the same parties are interested that
were Interested when the road was begun
three years ago. A committee is now at
work on reorganization, and the work viii
be pushed with all possible speed We sup
pose it will cost si26esl. 90 to complete the
road. Between : 90, ,oee and s. 5C00oOO have
already been expended Very little of that
money will be lost. 80 our engineers report
The assessment of ~ per cent will realize
$ 10000 and s90eol9o viii be sold in
bonds These bonds are already provided
for. all the SIS O0o,eoo stock is subscribed and
everything is in good shape. At first We will
get into Pittsburgh on the Pittsburgh, Ne |
Kersport q Youghiogheny. Whether we
viii build into the city afterwards is a qucs-
ton for the future. The new road will con-
meet this road with Harrisburg, and we reach /
New York over the Reading roai. Mr. Ralph /
Bagalev has not yet signed the agreement, !
but he has expressed TO me his willingness I
to do 80. All the rest have signed
What is the attitude Of the Pennsylvania
Company to the project p
They were against rs before. and sup I
pose their attitude Is unchanged There = Z
DO reason why thev should oppose us, how +
ever There viii be plenty Of Pittsburgh
traffic for both OF Us. We expect to draw
oar support from the territory through which
We viii pass II Is mining territory, as We;
win the rev road be direr: roaie to
New York
Ycs. il will be the shortest route II Is
shorter than The Pennsylvania route by -
miles
Have you any idea who wiz be Pre>i-
lentgo
-' have no loabs the presidency will be
oferei 10 Or. Hossefser He + IN yoa know
slld will not return from Caiiiornia for some
,ix months yet II be should not arcrpt
think the Office will be tendsred to Z. 4
Knight. q ofPhiiaieiPlIia builder ofthc Bound
Brook rad, who l. aecsriable in every way.
Dr. Ha~setter has been ieasler in the
,osib Pe~n rad. and / largely inter
.s,c,i.
Mr.. Watson aiiendcd the meeting in New
fork aad vas much pleased with the way
hinzs went and the interest manifested
rhe Naneic-biifs seezn 10 b. taking an inter-
~ only in financial way Their money,
md not their brains. are availabse. The mad
an BE- huilt maci. more eheaI.iy nOx than
When originally projected Lat-sr IS cheap
r. -;eei rails are cheaper. bridge iron Is cheap
=. IN faet everything 10 be used in its Goa
'truc;ion i from 10 10 Is per cent cheaper