The record-union., 1892-10-27
RAILWAY MATTERS.
THE READING ROAD CONSUM-
MATES A BIG DEAL.
Efforts Being Made to Induce Chicago
Capitalists to Build Another
Canadian Railroad.
speclaI 70 the REcoRp-UN1oN.

| Special to the RECoRD-UNIoN.
Boston, Oct. 26.-Ihe big railroad COM
bination, rumors of which have been in
the air for some time, was consummated
to-day. President Mcleod Of the Read
ing road and his friends. have secured
control of the Boston and Maine, and Me-
| Leod was to-day elected President Of the
latter corporation. The Reading and
allied lines viii distribute their immense
merchandise and coal traffic over the Bos-
ton and Maine.
1t is said that for several months the
| alliance has been under consideration by
Mcleod, who was reluctant to take upon
himself cares and Responsibilities other
than those now resting upon him,
but after looking over the situation care
fully, and believing such an alliance
would be greatly to the advantage Of both
properties. he decided to take hold. The
| Boston and Maine has Il large water front
on Boston harbor, and is building the
largest grain elevator in the United States,
which will be equal in capacity to all
other elevators in Boston combined. The
TWO corporations have an aggregated
mileage of over nine thousand miles, and
carry upon their pay-rolls over 100000
| employees. Friends Of the PHILADELPHIA
and Reading Company have also obtained
control OF the New York and New Eng
land Railroad. These important railway
connections, in addition to the Pouph-
keepsie bridge, now also in control Of the
Reading, give that system it's own chan
nels of access to New England and Can
ada.
WANT ANOTHER RAILWAY.
CHICAGO, Oct. 26.-Henry Croft, a
member of the Canadian Parliaemnt
from British Columbia, is i'll the city
getting Chicago capitalists interested in a
scheme to build new Canadian railway
lie has already been remarkably success
ful, and it is expected that over s., ,000, COO
will be pledged here TO further the enter
| prise. The road will be known as the
Canada Western, will be ,045 miles long.
opening up thousands Of miles Of good
grazing, timber, farming and mining
/ lands. Land grants will be secured from
Parliament this winter. According to
Croft, the construction company will
build road from Victoria to Setmour
Narrows, on Vancouver Island, and from
Butte Inlet, on the main land, through
the Chitcotin, Cariboo and Peace River
countries, up to Yellow Head Pass. The
cost is estimated at SIS, ,6S5, 200, including
ferry at the narrOwS, but it is expected
that the sale of land will amount to S43,-
l22,500, to which may be added the cash
subsidy of the Dominion Government of
$500 per mile, or S3,344.000 in all, max
ing the total assets SIG, 100000 Besides
the Provincial Government has guaran-
teed S6,000,000 to Sl0,000,C00 interest on
the land grant bonds. The CITY of Vic
toria guarantees dividends on the treas
ury stock of $1,000 600, and terminals
worth 81 900, 600 more, while other bene-
fitted towns are anxious to aid the enter
prise. Some Of Chicago's best known
capitalists are said to be interested in the
affair.
THE ATCHISON ROAD.
CHICAGO, Oct. 26.-The officials of the
AtchisOn road are pleased with the report
to be laid before the annual meeting Of
the stockholders tomorrow. 1t is one Of
the most favorable reports ever made by
the company, presenting a marked con-
trast to the rather discouraging financial
statements of recent years. During the
first nine months of the year the gain in
gross earnings amounted to S2,z43,OjI.
This, it is claimed, is largely due to the
natural development of the territory. and
there IS every reason TO believe the pres
ent prosperity OF the company will con-
tinue.
THE ARKANSAS.
GALVESTON, Oct. 26.-The various re-
ports about the sale of the Arkansas Pass
road to the Southern Pacific are finally
settled, it being announced that the trans
fer will be made on January lst.
THE TRANsCoNTINENTAL ASSOCIATION.
ST.. LOUIS, Oct 26.-Chairman Vining
of the Trauscontinental Association has
sent circular to members, calling atten-
tion to the numerous notices OF with
drawal, and suggesting that a meeting of
the association be called November 18th.
to take action thereon. This will prob
ably be the last meeting of the associa-
tiOn