New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-06
RAILROAD INTERESTS.
SOUTH Penn STOCKHOLDERS.
TALK WITH MR., HosrErTER- PLANS or
THE vANDERBILTs.

THE vANDERBILTs.
Pittsburg, Feb. (specal. may be trouble
fte the vanderbts yet IN the South Pcnn
Affair." Some of tho stockholders do not seem to Jump
at the 60 per cent offer. ID. Herbert Hostettsr re-
tuned to-day from the East He has been sounding
the New-York and Philadelphia stockholders to
their intentions.
Did you find much opposition to the Vanderbilt
plan Of absorption, Mr.. Hostetferlr asked reporter
Not very much In regard to numbers. but whore
1t did exist IL was very strong One PhIladclphian
threatens to make fight and Is IN position TO do
so. All but one or two Of the New-Yoriers havo
already sold, and suppose most OF the Pttsburgcrs
will follow suit I have not yet determined what
course shall pursue. The yanderbs viii not sell
to the Pennsylvania Railroad Company The rise In
their stocks since the meeting ON Tuesday has more
than paid what they will put into south Penn
think they have made mistake and would nos
be surprised II Mr.. Gould should step IN and have
something to say about road similar TO South
Penn that wanted TO build. and very
sorry the original programme was not carried out IL
10 had not been Tor the opposition Of Nh Carrege the
road would have been running to-day. ,1tnb uic
yandcrbIlts VIII get Sl1 600 900 si20o0O0O out Of
the S15,00o.000 capital before long,
Philadelphia, Feb speciall.-A prom;hs1G fsiir u
here confirms the report spread to-day in the Street
that the Pennsylvania Railroad weuld undoubtedly
cure control of the South Penn. He says There Is
the uncompeted road into the power Of the Penpsyi-
vana. The only question is to the means by wlic
the transfer can be effected, and this end VII have to
be reached by indirect means whether by the lorna
ton OF corporation composed OF persons whose In
forests Identical with the Pennsylvana's, or by
lease to railroad controlled by the company, In
some other way
The Beech Creek road, however will remain as II IT,
It has been the Pennsylvania officials
that tho Beech Creek will not be allowed 10 become a
disturbing element in tho situation. All the plans for
an extension Of the Beech Creek to Pttsbwg over the
Pittsburg and Western and other lines. have been
abandoned. Il has also been agreed that tho local
territory of the Beech Creek Railroad, and business
competitive with the Pennsylvania Railroads ra1lc.
shall not be developed. The road will be simply
local line Just before the South Penn deal was made
week ago. the Reading Railroad made overtures to the
vanderblts for their interest In the Beech Crock, but
the negotiations declined 1t IS the intention OF
the Vanderbilts retro altogether from active work
In Pennsylvania merely retaining an investment In
torest in the Beech Crsek
The Pennsylvania Railroad will probably complete
the South Penn road, but not projected Instead Of
reaching Pittsburg over the Pttsburg and Lake Eric
Pennsylvania The offer TO sell out will DO generally
accepted by the South Penn subscribers one STOCK
holder, who had subscribed for Sl,O0Oooo In the
original syndicate has passed In his vouchers ana mas
received In payment = check on New-York trust COM
pany.