New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-10
SALE OF THE @BIG FOUR
PURCHASED By OWNERS OF THE BEE LINE
THE FACT THAT STOCKHOLDERS LIVING IN
OHIO CAN BE TAXED SEPARATELY LEADS
10 THE TRANSFER TO EASTERN
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-Tsr rELEoRAPH TO rue rRrsusn. IL


Cincinnati, Feb 9-President ingalls,, Of the Ches-
ST. Louis and Chicago. or Big Four returned to
the city Yesterday He said the Biz Four had
been transferred to the Cleveland. Columbus Gin
cinnat and Indianapolis the reason for the sale be-
ing decision of the Ohio Supreme Court rendering
stockholders t~ Saulc Iron their holdings. even
though the railroad company had paid taxes upon
made to Mr.. Ingalls, and his asso-
ciates six months ago By the Wander
bilt interest and they were rejected
pending the tax decision which, if it had been
favorable to the Big Four would have pre-
vented the present deal The Vanderbilts, or
rather The Cleveland, Columbus Cincinnati and
indianapolis, which is separate company, have
gained by the consolidation much-needed ter
minals in Cincinnati and an outlet to the North
west for their valuable Ohio territory. In turn
the Big Four which they acquire, gains an
entrance of its own into St. Louis and this, if
relations remain friendly, the Chesapeake and
Ohio will share In short, there is little
doubt that strong traffic arrangement has been
made between the Chesapeake and Ohio and the
Big Five which may be the name of the new
combined-Clcveland becoming the fifth Of the
is included that has not yet been mentioned 1t
is only guess to say that this is the Toledo,
Peoria and Warsaw. which has been in trouble.
but would be an invaluable feeder for the new
alliance. Said Mr.. Ingalls, TO Tribune reporter,
in speaking OF the Big Four property:
Il knew it was one OF the best pieces Of
railroad property west Of the Alleghanes, and
that its stock was worth 125. The thing 10 do
lie %
fact. That this has been done, and pretty sue
cessfully, is evident The stock has already risen
since the tax decision fifteen points, and is still
strong or course, everybody here will sell-they
must. The result is that the ownership of one Of
our most Important railways has been driven
away from the city. The railway will still run,
but it's policy will not be dictated by Cincinnati
capital As for myself, feel like one who has
parted with dear friend l have seen the
securities of the Big Four in the last ten years
go from almost nothing to above par have
been with IL in good and in bad times. Its
condition, physical and financial, never was so
good as now PeoplSle who are now buying its
stock getting a great bargain. My friends
here have all made money and have nothing TO
complain Of. l shall probably continue IN
the management but the representative OF
New-fork. not Cincinnati. owners The rsult
will aid and strengthen the Chesapeake and Ohio
system. and help its future development. Whether
I remain In Cincinnati, or not, is n question
Were IL not for the many and dear friends have
here, there would be no question"
His evasion OF certain direct questions made
il certain that he il 10 have the mans: sment OF
the Big Four which is 10 be practically WIPED
out OF existence, except that its name may go to
tlie New-Yorx combine, and to the Bee line, whose
owners have purchased the control He will also
continue TO control the Chesapeake and ONO,
with yin be strengthened by the new deal.
chaunoey NJ Dopcw was seen by a Tribune reporter
al his house late last night, and declared thai he
knew nothing OF the reported sale Cornelius van
derbut had retired and could not be seen.