The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1889-03-21
THE VALLEY SALE.
"A Controlling Interest Passes Into
t.l tho Hands
OF On Unknown Syndicate, and "Yos'
Everett Acts for the Buyers
And Gives His Personal Cheeks for the
Purchase Canton 70 he Materially
Benefited by the Change,

pass INTO thb hhiiuh OF tolhulhHNV'
or syndicate, having for its purpose tho
thorough development OF the resources
and possibilities OF tho property Is now
established beyond doubt,
Az stated m the NFWsrDFAocBAr
some weeks ago Andrew Carnegie
WAS at the head Ola syndicate having
that object Ia view, but the negota
tions introduced by him caused
other interests 30 appear, and following
that naturalization came spirited bid-
ding for the controlling interest In the
road The Wheeling n Lake Erie, u
would seem, became competitor 10
Carnegie and later On still another bid
er abobbed up" which, II Ia understood
represented q New York Central mhu'
enee,
A late remark Of one OF the Wander
bilm In connection with Valley railway
possibilities, has led 70 thesurmlse that
the Vanderbilt combination was q par
" 10 the pending negotiations Those
on tho inside are for the present sworn
TO absolute secrecy, but enough has
been learned % lead 10 the assertion
that the controlling interest In the val
Icy was yesterday sold 20 syndicate
through whose influence and other rail-
road operations the Valley will become
a part OF an East and West trunk line
That fact IL nov undiaputed no matter
who gets the control,
s, v Everett, OF Cleveland who was
most posityeln his denial OF any pend
ing deals, II Is now learned was the
active agentOi the purchasers, whoever
they may DO, as his personal checks
were yesterday given for a part OF The
purchase money, Tho reason for the
continued secrecy IN the matter cannot
be learned, as none OF the insiders have
yet been found who will unbosom the
lacts,
One thing is certain, the change VIII
add materially 10 CantOns future and
an observed by one who ought % know,
"Our people win be surprised when they
learn The magnitude Of the scheme and
how largely Canton viii benefit by the
contamination"
The annual election Of Valley Ran
way directors will be held April 18Th
when three directors 10 succeed Mes8rs
COe. Todd and Borden will be chosen,
aud their successors win be gentlemen
who will represent the purchasing syn,
dica,e. When that has been done, II
no. before, the public viii probably
learn positively who were the successful
bidders for q controlling Interest ln th0
road
The Cleveland Leader this morning
says For years the splendid terminal
facilities Of the Valley Railway have
been looked upon with enyiou8 eyes by
railway magnat0s generally aud now
that the time has come for the owners
OF the road % sell their property there
is spirited bidding between Nv least
three different combinations. II the
situation does not change before day
light this morning, before night q con
trolling interest o! the stock Will have
been cOnsumated, and as has been
claimed persistently by the Leader, de-
spite all contradictory statements, the
Valley Railway will be IN the hands Of
the Carnegies, 10 Is very certain that
n the formal transfer Of stock should
be postponed for few days, even then
che syndicate, headed by Andrew Car.
negie, will be the new owners OF the
road The disappointed bidders for the
Valley are the Wheeling " Lake Erie
Railway company, and q syndicate OF
New York capitalists, represented by
M0rehead 4 Ogden, bankers and
brokers, No. 100 Broadway. Mr..
W. j, Hiland Of No, 36i Sibley street
this city, has represented the
Wheeling n Lake Erie people
in the negotiations, and he offered
$4,000 for /, ,240 shares Of Valley stock,
Yesterday he was told by Mr., 5, +.
Everett, the treasurer OF the Valley
Company, that the stock would be
transferred 10 another combination 20.
day. MT. Hiland, II is said, upraided
Mr.. Everett for not informing him OF
the pending negotiation with the Car
negies and accused the treasurer Of
leaving him 10 believe no option had
been given 20 other people Mr., Ever
ett replied that he had pledged his
word 20 the Carnegie syndicate and
said
TuE TltANspEE would BIC MADE
to-day Mr.. Hilaud was found az his
home on Sibley street last evening and
asked about his interview with Mr., Ey
eret. Az FIRST he declined 20 speak Of
the matter but when assured that the
result OF the conversation held In the
Office OF the Union National Bank was
known and would be published, he re.
Tented aud consented 20 reply 10 the
questions put 10 him by the reporter
~ think Mr.. Everett treated me rather
Shabbily,' said Mr. Hland: "ln my ne.
g0tiati0ns with Mr.. j. II, Wade, how.
ever, ! have received fair treatment
Some live OF six weeks ago ] went 10
New York and commenced negotiations
with Mr.. w. =. GfOyesteen, who Is
acting In the matter for Messrs. More.
head n Ogden, who In turn represent q |
syndicate desirOus Of obtaining control |
OF the Valley road. Mr.. Everett was |
in New York at the time. For some 70 |
me unknown reason, a day or two later |
Mr.. Gr0yesteen informed me that the |
deal was of, and that / need not 20 on |
with the negotiations. Subsequently !
the Wheeling Il Lake Erie people EN-
pl0yed me to purchase the road for |
them. was adyisedt TO negotiate with |
some one else than Mr.. Everett. We
returned 10 Cleveland on the same |
sleeper, but said nothing 70 Mr.. BV.
erett about the matter. After arriving |
home called upon Mr.. Wade, and was |
referred by him 10 Treasurer Everett. |
The Wheeling n Lake Erie Company |
OfIeted 100000 for controlling inter |
est OF the stock OF the Valley Com. |
pany Mr.. Everett put me of for the |
time being and said he would see II he |
could get the stock. l heard rumorB |
that the Carnegie party had come 10