Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-02-18

The BALTIMORE & OHIO
ALLEGED to be in the Reading Deal-The
Most Gigantic scheme In the History oi
RaiIroading-Vhs it All Means.


Most Gigantic scheme in the History Of
RaiIroading- What it All Means.
PIrTSBURG, PA, February 1.-THE
ChrOHicie-Ieisgrdph tonight prints the
following:
The Reading Coal Combination is as
suming more gigantic proportions than
were ever dreamed of and from the lat
est developments will have very vital
effect upon Pittsburg railroad affairs.
Private Gdvices were received by
PittSburg banker this afternoon, when
are regarded as thoroughly reliable, TO
the effect that the Reading Company
has secured control of the Baltimore
and Ohio Railroad aud its numerous
branches, and also the New York and
New England Railroad Company. The
terms OF the agreement, lease, etc,
were finally determinA upon by the
great fnanciers who have been nego-
tiating the deal az a conference In Phil
adelphia last night, when all the neces-
sary papers were signed by the con-
tracing parties.
This ACQUISITION Of the Reading gives
N the greatest system or railroads IN
the world, stretching from Boston to
Chicago, with innumerable branches
ramifying the New England, Middle,
Southern and Western States, aud IL Is
the opinion Of local financiers that the
next announcement will be that 1t has
a transcontineutaI line to the Pacific.
This latter feature is all the more prob
able, inasmuch as Jay Gould is said to
be the secret spring which has put In
motion this movement to solidify the
great roads of the country. Mr.. Gould
with his Missouri Pacific reaching down
into the Southwest, and his Union Pa
cific stretching TO the coast, will be able
to take care Of the Western end OF the
line.
The Importance Of the deal in Pitts
burg will be very great, in view OF the
extensive terminal facilities Of the Bal
timOre and Ohio here, as well as those
Of the Pittsburg and Western and sub
sidiary lines.
The acquisition of the New York and
New England now explains the cause OF
Mr.. Austin COroin resigning the Presi-
dency of Reading 10 take similar po-
stion in the New England. This move
ment, it is said, clearly demonstrates
that Dir. Corbin and Drexel, Morgan IL
Co., who have been managing the tinan-
ces Of Reading, had full understanding
OF the situation more than year ago,
when Mr.. Mcleod was placed at the
head of the big anthracite road.
The capitalization of the combination
before tO-day'S additions was estimated
10 be $500, 900, 600. The Baltimore and
Ohio has S25, 900, 600 common stock and
5000, 900 preferred, beside its numer-
Gus bond issues. The New York and
New England has $50. 900, 600 common
stock and So, 600, 600 preferred.
The total mileage Of the Baltimore
and Ohio is 1850 miles, of which 1905
miles are east Of the Ohio, and 645 west
OF that river.
The B. & o. lines extend from Phila-
delphia in the East to Lexington, Va,
on The South, 20 Chicago in the North
west and 81. Louis In the West, with
many collateral lines and feeders, ex-
tending through Maryland, Southern
and West Virginia, Western Pennsyf
vania, Ohio, Indiana and Illinois, reach
ing ali the lake ports and important
points on the Ohio and Mississippi rivers.
The New York and New Eng nd
owns 525 miles of main line and branLN-
eS, controls the Norwich and New York
steamer lines. aud has connection with
the New York Centrars system, thus
making it an excellent distributor for
the aDthIicite coal trade throughout the
Eastern States.