Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-06-15
THE 3. & 0. DEAL.
The Richmond Terminal still Believed ia
he in Control.

The New York Times Of yesterday says:
Edward II. Bacon, of this city, the repre-
sentative of the new Baltimore and ONO
svndicate. met the Maryland state Board
of Public Works in Bait more Yesterday
and bought the preferred stock OF the
Baltimore and Ohio railroad held by the
State of MARYLAND The face value OF the
stock was ~gGs, 6lj, and the price paid was
about 1870. Inasmuch as the state will get
tho 3 per cent. dividend due July lst the
price is equivalent 20 1873. -,
This entire block of preferred stock will
be turned over TO the Johns Hopkins Uni
vcrsity in exchange for common stock,
and. as il draws 6 per cent. interest, the
Tnlyersity's income will be increased more
than S5s.OJ0 Mr.. Bacon gets 12,OOO shares
of common stock from the University,
which will retain the other 5000 OF It's To-
600 shares. Mr. Bacon has not vet made
the pavment for the -. 500 shares the city
holds. but SAYS he W Il be ready before the
option expires IN July. ,o,
This purchase of the Baltimore and Ohio
stock held by the State of MARYLAND: and
the acquirement of nearly all OF tue mold
ings of the Johns Hopkins University is IN
the line of the policy marked ont 10y the
New York syndicate, winch Is now gen.
orally believed to include John II. lnman,
Calvin =. Brice, and General Thomas.
That this syndicate hopes TO speedily give
the Richmond Terminal Company an IN
hueut;al voice in the management of the
Baltimore and Ohio road, and eventually
full control, has been frankly admitted by
Mr.. lnman.
President Mayer, of the Baltimore and
Ohio, who OF late has been lndustrlously
DENYING every report relative TO change
in the management of that property, now
insists that the Richmond Terminal syndl-
| cate is only plaving second fiddle 10 the
Garrett party.
A special dispatch TO the New York Tfi-
b,1e from Baltimore says:
Edward Lauterbach, of the Richmond
Terminal, made flying visit here yester-
day to consult his agent, Morris q. Mengls,
who has been conducting the negotiations
with the city for the Drum Point Railroad
Company. IL is likely that Mr.. Lauterbach
also had a talk with the Baltimore and
Ohio men here interested in the big
deal" One branch Of the City Councils
has passed the ordinance providing for
the endorsing by the city OF S5OO,OO0 OF
the bonds of the Drum Point Company.
The construction OF this line also con-
templates connection with the Richmond
/ Terminal lines. Officials of the Baltimore
and Ohio now admit that they are looking
/ for closer traffic business with the Rich
moud Terminal Company after the line Is
| built from Linden on the Metropolitan
! branch across the Potomac. At present
| the two companies interchange freight and
/ passengers from Alexandria by cars on
/ barces TO Shepherds and at Strasburg,
/ fourteen miles above Winchester, Va. The
| business is sent north and west from the
/ Richmond Terminal lines over the Balti-
more and Ohio by these two routes to
points on the Baltimore and Ohio. The
PENNSYLVANIA now gets nino tcnths of the
/ freight from the Richmond Terminal, and
/ about ninety-nIne out of every 100 passen-
! gers.
John A. Hambleton & Co. in their week
/ circular tomorrow. commenting on the
IDEAL" will say in part: The purchase
Of the city's Baltimore and Ohio stock IS
in the interest of the Garrett party; and,
in our opinion. no one will be admitted to
the deal who is not in thorough accord
with the present management. Some day
the Baltimore and Ohio VII, in our opin-
ion. change hands: but before that deal
is consummatei the road must be brought
up TO paying basis. 1t wouldappear that
for some time to como President Mayer
and his associates will hold their balance
of power. The deposit of 100000 Baltl-
more and OHIO. Southwestern tirsts as Sc
curity to bind the contract of purchase OF
the city's Baltimore and Ohio stock shows
conclusively that English capitalists are
in the DEAL"