The Portland daily press., 1890-07-23
is THE BOSTON & MAINE IN ITp
Gotham Gossip Concerning a Pend
ing Railroad Deal.
The New York and New England
May Be Sold,
And the Maine Is Looked Upon as a
Probable Buyer.

NEW YORK, July 22.-The Times today
prints the following: "a meeting Of the
chief owners of the New York and New
England railroad will be held in this city
this week. The purpose of this meeting is
not disclosed. 1t will probably be of the
same secret nature that other recent similar
meetings have been. Evidently some mat
ter Of great consequence Is under considera-
tlon. Just what the important matter is can
only be guessed at, however. Wherefore
Wall street and the general railway world
are indulging most industriously in sur
mises.
or course, there came from all sid d.
mails that anything unusual is under way.
That's orthodox; no financier. ever acknowl.
edge anything; no railway negotiators ever
owned up. Still, in the present case, denials
and attempts at mystery are trifle inappro-
PIRATE; there Is so much circumstantial proof
plainly in sight that denials are merely ar
rant f0olishness 1t Is certain that some sort
OF deal OF Importance Is being perfected
bearing upon the New York and New Eng
lands future.
There are two theories current as to what
Is going on. One Of these theories has Il
that the control of the New England has
been obtained by the New York, New Hav-
en- ana Hartford Company;, another theory
Is that the New England will be merged into
the Boston IL Maine system. The Boston &
Maine has lately been developing and ex
tending rapidly. Its managers evidently
have great plans for its future, and their ag-
gressive policy has significance in 1t that
conservative railway men believe will be
soon found touching far wider field than
that to which its lines have hitherto been
confined. People who suspect that the Bos-
ton q Maine has now obtained. or is about
to obtain control Of the New England sys-
tenn are willing to admit, however, that the
acquisition may be made with the New York
and New Haven Company as partner in
the purchase.
Much the greater number OF people,
though, hold to the idea that the New York
Y New Haven alone gets the New England
lines. An important officer of the New
York and New Haven road Is known to have
made the following remark to personal
friend within the last few days: 81 am
obliged to keep large sum Of ready money
on hand just now. for am obligated to pay
for a big block Of stock at moments no.
tlce II a certain negotiation Is completed"
!. :. his was said In connection that induced
the hearer to conclude that the negotiation"
had to do with the New York & New Eng
land railroad.
1t is known also that, after having made
active and thorough-going preparations to
have friends" nominated for membership
in the next Connecticut legislature, the New
York & New England Company has sudden
ly abandoned, temporarily at least. all Of its
political pipe laying. These things point to
change of position and plan very definitely.
And especial significance Is attached
among well informed railroad men to the
fact-not hitherto made public-that the
New England has terminated its traffic con-
tracted with the New York & Northern
road. Under this contract, which has been
in operation ever since the latter road was
built. freight from the New England was
carried oyer the New York q Northern from
the junction OF the two roads at Brewster.
Quite business grew out of the arrange
ment, and now that the contract is at an end
the revenues Of the New York & Northern
on through freight have seriously fallen off.
In April, they amounted to S11,5OO. In june
when the contract had been terminated, they
dropped to S1,088. As the New York &
Northern had equipped itself for this busi-
ness, its loss Is, of course, matter Of some
concern to the accounts of that company.
Under the old arrangement freight was car
rted in bulk without reshipment to High
Bridge, where the cars were promptly trans
ferred to floats. The water passage to Pier
40, East River, is only seven miles from High
Bridge, and the service was. always so eff
cient that deliveries of through freight at
the pier could always be counted upon be-
fore 7.30 o'clock in the morning.
Railroad men look below the surface Of af-
fairs as thus presented for the explanation
Of the New England's course In terminating
the agreement with the Northern. They
think 1t Is part Of scheme to loosen New
England from all outside entanglements so
that the property may be ready for delivery
to purchaser at short notice. Since the
same persons control the New England and
the Housatonic, the two properties could be
transferred in one sale if desired, and the
purchasers would thus acquire a route from
Boston to New York, ready equipped for
business.