Omaha daily bee., 1890-03-13
BOUGHT BY THE BURLINGTON.
The Burlington & Northern Road
Changes Hands.
RuMoRED SALE OF THE MoNoN
What the Leading Railroad OH cials
Have 10 Say Concerning the
Affair-Tne Interstate Com
mission in Chicago.
Sale of the B. & v.

CHICAGO March ia Special Telegram TO
THE BEE Chicago railroad officials were
slow in believing the sale of the Burlington
& Northern to the Burlington today, espec-
tally as the news came from Boston at al
most the same time the Information came
from New York that the Monon was sold to
the Louisville & Nashville. The latter re-
port was readily credited, IL having been on
the tapis for some time. Later in the day
positive confirmation of the Burlington &
Northern sale to the Burlington was re-
ceivcd. The price was analyzed by good
Judge as follows:
According to the Boston Telegram the
price is the controlling interest at 40 per
cent, and the assumption by the Burlington
of the Burlington & Northern's floating and
bonded indebtedness. There is no means of
knowing just how much the Indebtedness
amounts to, but "a controlling interest in the
stock could be bought for 6agatelle. There
are only 81, 900, 600 in the stock, of which the
Burlington already owns 3d. 900, 900, conse-
quently it was only necessary to buy 81, $780,
600 in stock at 40 per cent to control the
road. This would take S600,000 at 5 per
cent. This means only 900 year"
The only Burlington official in Chicago
who knew anything of the deal was AS.
soclate Counsel Dawes. Said he:
III have not yet received official notifica-
tion of the sale, but am expecting IL every
minute. Vice President Harris Is, L know,
In Boston to arrange details"
First Vice President Peasly Of the Bur-
lington bad no further information on the
deal. Second Vice President Stone is sick
and General Manager Ripley is in Des
Moines trying to induce the Iowa leglsla-
ture to 20 easy in the threatened reduction
in freight and passenger rates.
Vice President McMullen OF the Alton
said:
''If the news is true 1t will enable the
western reads If they wish, to throw off the
present Generalization in rates and establish
things on paying basis. The Alton be-
leves in low rates, but it do lot believe IN
the wild scramble for busl e,s and the dis
regard for tariff rates now going on. There
is no question that the deal, if made, re-
moves the most disturbing element in west
ern raiiroadIng. The Burlington 81 North
ern may have been run in the interests of
its stockholders but it certainly kept west
ern rates in "A turmoil The whole
thing coulu not be solved more nearly than
in any other way by the establishment of a
detective bureau which would seek out and
punish relentlessly any violation of the inter-
state commerce act. 1t would In great
measure take the place of associations" )"
General Manager Tucker of the st. Paul
road was immensely pleased at the news, but
was reticent of his opinion except TO say that
the way now seemed much clearer for re
establishment of rates.
Facilities for obtaining information in re-
gard to the Monon sale were even more
meagre than those about the Burlington &
Northern. Not general officer of the
Monon or Louisville 81 Nashville was in the
city and at the Mcnon office the only lnfor-
nation obtainable was New York telegram
that the sale had been made.