Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-07-19
RICHMOND ROADS.
CONSOLIDATION OF THE R. ga. Asoc. q
O TO Be MADE
Operations Under This Agreement to Begin
In the Yall-Ths Plan,
&c &C.

The scheme looking to a consolidation of
the interests OF the Chesapeake and Ohio and
Richmond and Allegheny railroad properties
Is soon TO be carried iIto effect, and opera-
tiors under the new order OF things are to
begin IN the fall-in September perhaps.
This assurance comes from the highest au-
thorities Of both companies, and the nego-
! tiatious which nave been pending for a long
time are rapidly reaching their conclusion.
and only few minor details remain TO be
arranged.
GREAT MAGNATEs HERE.
Mr.. c. r. Huntington, ex-president OF
The Chesapeake and Ohio. q member OF
| the REORGANIZATION Committee, and the
largest holder OF the company's paper, ar
rived IN the city from the North yesterday
afternoon, and was accompanied bY Mr.
Erwin Davis. who owns the controlling ln-
terest In the Richmond and Allegheny.
These gentlemen are travelling together,
taking over the consolidation, arranging
the detail. OF the agreement that has been
settled UPON and which Is about To be en-
tered into. and inspecting the two lines and
their properties. Soon after reaching tue
city Messrs. Huntington and DAVIS AZ guests
OF General Wickham, receiver and general
manager Of the Chesapeake and Ohio, re-
naired 10 the Westmoreland Club, where
they, General wickham. Henry T. Wickham,
Esd. OF the company's counsel, and Others
dined. These gentlemen in company with
General Wickham will leave this morning
for tour TO Huntington, W. Va, over the
Chesapeake and Ohio.
TIE LEASE.
A Dispatch reporter saw Messrs. Davis
and Huntington yesterday afternoon in the
Office OF General Wickham and asked the
two together about the proposed lease by
which the Chesapeake and Ohio was to Sc
cure the Richmond and Allegheny as Sec
ton OF its system.
"WeH. there is not much to tell"
observed Mr.. Huntington, and Mr.. Davis
here ioiued in:
.NO, there Is not much 10 tell. We agree
that IL Is to our mutual interest that our
lines shall be operated together. and we are
considering plan fer the consolidation, the
details OF which have not yet been quite per-
fected."
"Both Of these roads have receivers" in
terpolated General WIckham with smile,
"and our consent 10 the scheme has not yet
been obtained"
THE TERMS.
II was further learned that the contract
soon to be executed paTtakes OF the nature
OF lease. certainly to some extent. The
Chesapeake and Ohio is TO have control
OF the Richmond and Allegheny, and TO Sc
cure TO some extent a small per cent. OF in-
terest, perhaps , or 2a per cent, on The 1--WE
million Of new bonds to be issued under the
Reorganization. Largely over half OF the
holders Of the Ric"mOnd aud Allegheny
Il. al fhnn Or cont Of
those OF the Chesapeake and Ohio
bonds have signided their willing.
ness 10 acquiesce in the reorganization on
both companies. The other Chesapeake and
Ohio bondholders, it Is said. are nearly all
beyond the Atlantic and their whereabouts
are not well known. There will, 1t Is stated,
be no trouble about the interference OF the
court in any way with the proposed scheme.
The CheSaneake and Ohio can be taken out
OF the hands OF receiver to-day II desirable
and the Richmond and Allegheny, it seems.
is also 10 be taken ont OF The court. some
week or two ago counsel for the Richmond
and Allegheny Reorganization Committee in
tmated to Judge WelliOrd, OF the City Cir
cult Court, that the litigation in regard to
that property would soon terminate. and in
this ihe counsel for the opposition committee
acquiesccd.
THE REASONS.
"What we want to do" said Mr.. Davis.
.sis TO reduce the expenses OF our manage
mcnt, for with us a dollar saved goes long
wavs, am satisfied that Mr. Huntington
and q III both be benefited by the arrange
ment which we will make" To this Mr..
Huntington gave his assent, adding eve
only want few little things down here, and
then we will probablybe able to bring few
hundred thousands more OF freight through
Richmond, and benefit both ourselves aud
the city,"
TO BEGIN THIS FALL.
"When will operations under this arrange
ment BEGIN 20 was asked.
"This fall" replied Mr. Huntington.
The Richmond and Allegheny will practi-
cslly give the Chesapeake and Ohio double
track from Clifton Forge to Richmond.
From what appears above 1t would seem
that il is proposed TO take the Richmond and
Allegheny road out Of the hands OF the re-
ceiyers and thereby savethe $4,000 per an
nun now being paid as salaries fer those
officers.
MIR. WINN WAVES EXAMINATION.