Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-05-15
WILL IT BE A DEAL +?
PRESIDENT lNMAN ON THE REPORTED
TERMINAL AND o. & q, DEAL.
Terminal Company offered Control Three
Years Ago for $500 Share.
But Declined.


nond Terminal Company, said TO New
York Herald reporter that no further pro-
rrcss had been made in the negotiations
now going on for the purchase of the Bal
tlmoro and Ohio railroad.
1T is merely a question OF price az pres
ent 90 he declared. We are ready 10 buy
ard they seem ready 10 sell. Three years
5000 o share. The matter came formally
before the hichmond Terminal directors,
Iu, they decided that the price was too
"ls it true that they now ask Sl75 a
sharo?"
II cannot name the price they now put
ON their holdings. but | rather think il
Is not SO large ~ that. At the time the
matter was presented 70 the Richmond
Term nal directors they thought they
would not be justified in paying more than
500 q share
What Is the Baltimore and Drum Point
railroad deal in which the Terminals name
81 mixed up2n
That isa matter somewhat independent
az tue main Baltimore and Ohio trans
action. The Drum Point people propose
That The Terminal shall build an air limo
trom the south bank Of the Potomac river
.fa point opposite their terminus on the
rarh bank to Richmond. The two lines
.0ull Zoe connected by ferries, and the re-
suit would be n very short and direct route
from Baltimore 20 Richmond
BUMoEs AND DESIAIs.
Edward Lautcrbach. counsel for the
Richmond and West Point Terminal Com
psuy. returned to this city from Baltimore
Yesterday. saws tho New York Times He
was cautious IN his replies 90 questions re-
,aijng the nature of his visit. He said 1t
va- true tnat lie had conferred with repre-
-.ffutives a Baltimore and Ohio railroad
interests. hut ne did not think II advisable
/. throw any public light on the outcome
nf The conference. "Nothing ~ vet in
shouc TO b. publicly discussed he said
The pellet is quite general among we'll
informed railrOad-mcn that the question OF
price is all that causes a delay IN the trans
f,r Of % majority Of the shares Of stock OF
fl. Baltimore and Ohio Railroad Company
&C., men interested in the development OF
fha Richmond Terminal system. The Gar
rett stock, 10 Is said. j. held at higher
price than the would be purchasers care TO
rav. Mavor Davidson. of Baltimore, IL
luotcd IN Yesterdays Baltimore Sun as say
iLr that there is no better system Of iinau-
rerine than 70 sell assets TO pay debts aud
chat n the city could obtain a fair prlcefo
D.. Baltimore and Ohio stock he would
rac.mmcnd 10 the City Council toauthorlze
.ts sale.
No TRUTH N 1T.
dispatch from Baltimore last night
sass that tic Baltimore and Ohio people
deny polnt-blank the rumors of deal with
the Richmond Terminal. President Mayer
sad " You may cay as coming from mo
tllt there Is no truth whatever IN the ru-
nor that any negotiations Of any sort are
rcnliue between the Richmond Terminal
or any other company and the Baltimore
and ONO for any of the stock owned by
the city of Baltimore or the Gar
rett estate. In other words. there 10
10 foundation for the rumOr.' Regard
ING Mr.. Iauterbach's conference with the
Baltimore and OHIO officials, eOf themOst
prominent of them stated that he knew
that Mr.. Lauterbach was coming TO Balu-
more. but it was on his own appointment
aui not on one made by either the Balt-
nor. and DINO officials or the Garrett
party He said that there were rumors
that the Richmond Terminal Company
would not put itself in the hands OF the
Baltimore and Ohio bv an exclusive freight
and passenger arrangement. and none
other would be made by the Baltimore and
Ohio. If the Richmond Terminal were 10
DO 50 it would give the Pennsylvania Rail
road Company an excuse for opposing the
Richmond Terminal in the South. lie did
not credit the rumor.
THE REPORTED DEAL IN 1887.
The chiet attractiveness Of the Balti-
more and Ohio TO railroad cOnsOlidatOrs ~
the comparatively small issue Of common
stock The total amount Is only @14, 792, 800.
and consequently - 100000 would control
a property whose gross earnings per year
aggregate more than SD 900, 900, and whose
net earnings this year have increased more
than million. The statement that the
Richmond Terminal would try 10 buy
the States interest IS probably a
mistake ms the State cannot sell with
out legislation, and that cannot be
secured until 1892. The other holdings
can undoubtedly be bought if enough
money is offered. To-day 22S shares were
sold on Change at par. This Is the largest
lule for several months, and such price
for an unprOductiVc stock rs certainly un-
usual. OF the 1923 shares more than
100000 are held in Baltimore. The Garrett
interests aggregate $4,000 shares, the city
holdings 32,5o0, and the Johns Hopkins
holdings II, 800. These would give ma
JDuty with good margin 10 spare. 1t
WAS ON March 9, 1887, that Baltimore
was thrown into excitement by an
u.uncing tho first of the remarkable
..ues Of Baltimore and Ohio deals.
Sinrularly enough therOad in the case then
a- now was the Richmond Terminal. The
man who did the dealing however, was
Alfred Sully. The terms then were $4,000
shares at $500 a share, and the deal fell
through because Mr. Sullv could not raise
$4,000, 600. The scheme then twas the same
g. the scheme rumored n1w-agreat south
Dru trunk-hne with New York connections.
When the deal was announced in 1887 II
sent the stock from 16S to $50. To-day
there was no advance, as the stock has
n,eu standing quiet at 100 asked for
week or more. but the sales were unusually
large