New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-22
DIR. HosTETTER's RAILWAY HOLDINGS.
ALL HIS PITTsBURG AND LAKE ERIE sTocB
SOLD TO THE vANDERBILTs-THE SOUTH

PENN TO DE BUILT.
Pittsburg, jan 81 lspeclaD.-Great interest was
manifested In railroad circles here to-day at the an
nouncement that the Pittsburg and Lake Erie Rail
road stock held by the estate OF Dr. David Hostetter
the original promoter Of the road had been sold TO the
vanderbIts. The sale effected by the dead mans
son, D. H. Hostctter, who has charge Of his fathers
estate Being minority holder without hope Of get
ting control of the road he considered It Just as well
to dispose of this block There Nero 49, 500 shares
Gossip says the stock averaged DIR. Hostetter about
$3.50 share, and that the price paid by the Wander
bits was about e75 share, The Hostetter block OF
bonds and the Pittsburg, McKeesport and Youghio-
gheny holding were not sold. This sale VIII not
change the vanderbts' policy in the management Of
the property.
Tho annual meeting OF the Pittsburg and Lake Erie
which is 10 be held tomorrow Is principally for the
purpose Of hearing the reports OF the managers and
electlng board OF directors for the coming year.
d. Herbert Hostetter returned here this morning
from New-York He said: "The South Pennsylvania
matter Is at last settled. Messrs. NJ. W. Watson, b.
p jones' H. Sellers Mckee, and all the other Pitts
burgers except II. c. Frck and +. NJ. Ferguson,
have signed the new Carnegie agreement. Messrs
Frck and Ferguson have agreed 10 sign the agree
ment early next week. az which time the Vanderbilts
also WIN sign IT. This all tho friction from
ne road and T Be mp Sss COCO s OF
In cash 10 take S1OOOOOOO Of the bonds and 70 build
the rpad without any water either IN stock bonds
Common stock win be issued for the original subscrp-
lions, and preferred stock for the new 20 per cent
The road WIN be els miles long For every fifty miles
Of the road that Is completed there Is time ex-
tension OF six months for the completion OF the rest
MISCELLANEOUS RAILWAY INTELLIGENCE
Pittsburg. Jan. 81 CSpeeiaD.-Thc annual meeting Of
tho stockholders OF the Pittsburg Junction Railway Com
pany held here to-day. The net earnings for 1888
we're ei52 037 4 Of eli 690 % 1887 The
total number OF loaded passing the line during the
year 90 TIA increase 1887 Of 7464 The
election the coming year resulted follows President
T. NJ. King; directors J. w. Chslfan @. d. Heron,
James Gallery. Jacob Painter r Reuben Miller william
MotcslL w. l.. Van Kirk William Van Kirk A. f. w.
Painter O. L. Htzhugh, Chasles r. Mayer and William B.
Frlck
Keokuk Iowa, jan 2LJudge Love in the United Sates
Court has entered ordering the Keokuk and North
western Railway Company to deposit with the court
sT2s 231 So the due bonds and coupons re-
oeyed by mortgage to Andres b. Stone within the next
ten days in default OF which the court orders that the
property franchises etc. Of the road be sold at public
auction.
Chicago jan 2Genera Freight Agent Morton, OF the
huntington said this afternoon that the Burlington would
on tho Union Pacific in its lowering VI The corn diheren
tla from Western points TO Sc Louis 1--WE have al
ways Joined the Union Pacific In making rates. he said,
..and will do so In ths The Union Pacific makes
the eastbound rates and make the westbound ones
see no reason doubt that the rate viii go into effect