The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1890-04-23
South Penn's Revival.
The Competing Line Reorgan-
lied by Reading Interests.

t[1d bS nOa1hf6 Rttct CotS.
READISs, Pa. April Il Capitalists inter
essed in the South Penn Railroad, projected
between Harrisburg and Pittsburg as rival
TO the Pennsylvania. met here This afternoon
to reorganize Tie company. The road was
purchased s'lert time ago bv George
Baer. of this cit, subject TO q mortgage held !
By the Union Trust Company. Of New YORK, |
trustees. TO secure an issnc Of bonds Of the |
Railroad Company 10 the amount Of So
.uo 000
THE vAspERmrTs NAY HE ~ IT.
Mr. Baer was to day elected President |
with the following Directors. Francis
Iynde steison, Francis S. Bangs and Charles |
Mcyeagh. all Of New York; James \, Mohr-
Of Philadelphia. and jefferson Snyder and |
Frank C Sminck, Of Reading. The capital |
ofthe road was fixed at $200oc-0oo-
TO EXTEND THE READING WEST.
Mr. Bser until recently was one of the ni-
rectors of the Reading railroad, and is now |
President of the several iron corporations
run in the interst of that company. This is
taken as an evidence that the South Penn
sylvania, when built. will be connected with |
the Reading system. and as the rival of the
Pennsysyanis west of Harrisburg.
At present the Readings lines only run to /
Harrisburg The road is TO be completed at
once, unless stopped by litigation.
COMING TO A FOCUS.
OF course the principal topic of interest 1
under this reorganization is the prospect OF
building the road. It is understood that
this temporary organization is to last until |
the 5th Of May, when permanent organi-
zation will be formed, with charter under I
the general railroad Law, to be obtained in 1
the meantime. ana other officers elected. 1t
is asserted by Director that ii will be
speedily pushed to completion, andthat one |
of the reasons why Mr. Baer Withdrew from /
the directory of the Reading was that to /
him was Delegated the task Of taking hold |
of this road and pushing il TO completion.
He himself is here said 10 be the principal
representative Of the Vanderbilt interests in
this State, and as is well known, they ere
large holders VI the bonds Of the South /
Penn.
THE oPPosITIoS's cay.
1t is said by the opposition that the speedy |
completion of the road is improbable on ae- /
count Of the disturbance il would create in /
the trunk line situation. The vanderbilts, I
through the New York Central, the Ralli- I
more and Ohio which is link Of the Read I
ing, and the Pennsylvania, are all interested I
in this. There is sal to De the greatest dif- /
iculty in securing an entrance 10 Pittsburg |
for the new line. and that il would have to !
use the terminal of one of the other roads. /
II is admitted however, that ifthe Reading /
has sn ambition TO get an independent west |
ern oullet the South Penn offers the best /
possible opportunity.
PRESIDENT BiER QUITE MIN.
When the above statements were men
toned TO Mr.. Baer this evening be declined
to make any comment upon them or to
state what his future course will be. 1t is
worthy of notice in this connection that the
Reading in constructing its western connec-
ton al Harrisburg has been Obliged to build
piers OF its own across the Su>quehanns,
having been prevented from using those of
the South Penn by the interference Of the
Pennsylvania.
GROVER CLEVELAND IN IT.
OF the New Directors elected Messrs.
Sletson, Bangs. and MeNsagh are of the
firm with which ex President Cleveland is
connected, and are legal representatives Of
the Yanderbilts The general office of the
new company is to be in Philadelphis. bat
the office in Harrisburg will be retained.
The Pittsburgh Times of Saturday has the
the following The reorganization Of the
South Penn Railroad at Reading Thursday
excited great deal of interest and talk on
the street 70 day, aud there was much specu-
laiion as to the future of the road + /
James n. Mohn, the only Philadelphiau
in the Company's new directory, was reti
cent as to its plans. The Board of Directors
elected on Thursday was, he said. only tenn
porary, and a.other meeting would be held
in few days TO further complete the reor-
ganiza,ion. When asked in whose interest
the compsny had been reorganized. whether
Yanderhits or the Pennsylvania Railroad,
Mr. Mohn smiled and remarked significant
ly that be thought the composition Of the
Board of Directors answered that question.
Three Of these diretors have been simply
put in to hold the places until the reorg ami
zauon shall be effected, when they will give
way to railroad men Of experience aud capi
tai The other directors have all been identi
fed with the Reading railroad The opin-
ion is generally held by railroad men that
the reorganiz ltiOn means that the Wander
blts are preparing to complete the South
Penn Railroad. The Vanderbilts have paid
out several millions of dollars on the cJn
struction of the road. and in buying up the
shares of other stockholders, and as they are
very thrifty people. it is believed that they
desire to get some return for all this money
This theory is all the more probable, as their |
relations with the Pennsylvania are now said |
TO be less harmonious than they were some !
years ago. There is very sctive compeli.
ton for Western traffic. both passenger aud |
freight between the New York Central and |
the Pennsylvania and this is continually in |
creasing. With the Reading Railroad, on !
the other hand the relations of the Wander /
bilts are most friendly They send great
quantities of freight over the Rsadng by /
way of their Fall Brook lines and receive |
big shipments of freight aud coal in return /
The Beech Greek Railroad, which is owned /
by the Nanderbilts, and the Reading are
worked almost like one system
The Pittsburgh Dispatch says editorially: /
The news concerning the resusci;siion ofthe I
South Penn Railroad is the bes. and most
encouraging that Pittsburgh has had in this
connection for a long while There is a
brighter prospect for new railroad link be-
tween this city and the Eastern seaboard |
than anyone has ventured Of late to look for I
among the ruins Of the projected South |
Penn. That an earnest effort is to be made |
to build a new railroad between Phladel- |
phis and Pitisburg may be taken as fact.
The circumstances OF the fact are rather
nebulous AS yet.