Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-06-11
WHO OWNS II?
Various Rumors as to Who Bought the
Baltimore and Ohio.

The sale Of the city's stock in the Baltimore
and Ohio took place very quietly at the Balti-
more city hall yesterday. No casual visitor at
the city hall at the time would have supposed
that so large a deal was going on or that the
piles OF green paper stacked on a table in the
mayors Office represented $500. 600 worth of
securities. The first party to the transaction
to reach the mayors Office was City Solicitor
Hammond. and shortly afterward the mayor
and Mr.. W. W. Spence entered together. 1t
WAS nearly 1890 a. m. when Nh. Bacon arrived,
accompanied by two young men carrying a
large gripsack containing the securities. Mr..
Bacon apologized for the delay by stating that
the bonds could not be gotten out of the vault
III which they had been deposited earlier.
Col. W. III. Love and City Register John A,
RObb acted as witnesses to the transaction.
Nr. Bacon produced two typewriter copies
OF his formal acceptance OF the terms of the
sale and likewise two copies OF a formal
agreement 10 make the sale between the
finance commissioners and Edward H.. Bacon.
VI the first papers Mr. Bacon signed both,
gdXe one 10 the mayor and retained the other.
IN agreement was signed by Mayor Davidson
and ". ". Spence ON the part of the city and
and by Edward Il. Bacon. and each party re-
tanned a copy. Ih- agreement, after stating
the terms OF the ORC uGt Ce authorizing the
sale of the 400 shares / Baltimore and Ohio
stock held by the city 10 Edward Il. Bacon,
provides that Mr.. Bacon shall pay TO the CITY,
az the Farmers Loan and Trus, Company of
New York. ON or before the lst day of July.
1880, the sum OF $3.50. 900 and upon making
this payment shall receive 81. 500 shares Of
STOCK and the bonds deposited by him as Sc
cUrIty.
SAID TO HAVE PEEN BOUGHT BY TIE GARRETTs.
The New York Ec,uiny Post in its financial
article says: "Most persons have thought that
the purchase Of the block OF Baltimore and
Ohio stock from the city of Baltimore was
made IN the interest of either the Richmond
Terminal Company or the Northern Pacific.
We have, however, the most Trustworthy in
formation that neither Of these corporations is
Interested IN the purchase. but. ON the con-
trary. that the Garrett interest formed the
nucleus of "a syndicate which has bought the
stocA OF the city OF Baltimore. for the purpose
o. maintaining the independence of the BlItl-
more and ONO. This does not by anv means
indicate that the Baltimore and Ohio will ever
again assume that aggressive attitude of seven
or eight years ago. by which il antagoniZed all
the trunk lines ana also ali the express COM
panIes and telegraph lines, and persisted in
tins policy under the Garrett management I'M
u the surplus earnings over fixed charges
diminished from $500. ySi IN 1850. or abOu;
l5's per cent on its Si5.O0O.O 600 OF stock. down
To sJ6.Z59. or next TO nothing. on this stock III
lesi, when the Garrett interest was then tenn
POraTIIy IN the hands Of Ives L Stayner for sale
and found no purchaser"
ANOTHER STATEMENT.
On the contrary. Mr.. James Sloan. one of Tho
Baltimore and Ohio directors. in an Interview
with a Baltimore sun reporter. said last nigh
that the distribution OF stock purchased from
the city and the Johns Hopkins trustees would b,
left solely III the hands Of NJ. Chas. f. MAYER
president Of the Baltimore and Ohio. &c
would say into whose hands IL should be placed
but u was not possible nov TO SAY what dispo,
sition Mr.. Mayer would make OF il. In aiIud
ing to the rumOred consolidation OF the BaitI
moro and Ohio with the Richmond Terminal
Company, Mr.. Sloan said that while sc coult
not state this as a fact, still there was a ten
dency in all directions 10 effect closer unions
between railroads than heretofore existed
Such consolidation, ne said, undOubtedl,
cheapened transportation and resulted in adj
vantage TO both the public and the corporation
That there should be. IN the near future. closeI
afhllatIon between the Baltimore and Ohio an,
the Richmond and Danvliie roads he had n,
doubt. In fact, he spoke with almost a Ger
tainty ON tins point. but that it would amour
TO consolidation he was not at this time pre-
pared 70 say.