The Providence news. (Providence [R.I.]) 1891-1906, 1893-11-27
And Secures Two OF ats Powerful OPP
ponents- Has Long Controlled the
Maine Central and VIII Now Absorb
the Concord and Montreal.

mObu poWoftut coIUofatiOu IN tuifu.
The THE comprises the Boston and
Maine. the Concord and Montreal and the
Maine Central, With another In view ret
unnamed. The Concord ana Montreal
railroad as now made up comprises the
Concord railroad and the cid Bostos. Con-
cord and Montreal railroad, the former
having formerly operated - miles Of road
from Concord 10 Nashua, n. n. In the
course Of time 10 took sl several leased
lines. including the Concord and Ports
mouth railroad, the Nashua and Acton
railroad snd the North Wsare ard Sun
cook Valley railroads, which 10 helped to
construct
IL had and new maintains the control OF
the Merrimsck valley. Later, about six
years ago. the Concord railroad and the
Boston. Concord and Montreal railroad
were consolidated under the name Of the
Concord aud Montreal railroad. The
road was ich and valuable property ana
has been for years q coveted prize, much
sought fer by other corporations, par
Cicularly the Boston and Maine, its princi-
pal rival In that state. The result has
been q series OF legislative battles between
the two roads that have attracted the at
tention sf railroad and business men all
over the country. 30 intense has been the
struggle thst the tive roads have expended
fortunes In the warfare aad have practi-
cally controlled not only both legislative
bodies but the governor ~ we'll
Dsttisl The cssssrd.
Four years ago rYuss wss declared and
the two corporations have since that time
time Hon. Frank Jones, president and
leading spirit Of the Boston and Maine
road, has become the purchaser and holder
of large blscks Of Concord railroad stock
and is new enc sf iss heaviest stockhold
err. Under his management the Boston
and Maine has extended it's connections In
different directions ard states until the
Concord road has been practically bottled
mp, having no terminals except those
nnder the control OF the Boston and
Maine.
THUS placed at q disadvantage, some Of
the leading members Of the Concord rail-
road directory decided IL was bsst fer that
road to cspitulats. aal several months ago
committee was Appointed from each road
to consider the sdvissbility and terms Of =
lease Of the Concord 10 the Boston snd
Maine. fhs joint committee held several
meetings In this city, and matters we're
progressing smoothly wAsn change In
Management, BY which Mr.. Jones retired
from the presidency and directory Of tho
Boston and Maine, made q suspension of
negotiations necessary.
Under the new management . new
COMMITTEES was, however, appointed on tho
part Of the Boston and Maine, sad the
deal took sn new life and energy. The
Boston and Maine men were ready to
lease, the Concord men ready % ~ leased,
ard such progress has been made that
nothing but the agreement upen nhinor
formal details and the passage Of the
necessary papers remain to bs done to ac-
complish the union.
BY the terms Of the agreement the Con-
cord railroad will pass into the control Of
the Boston and Maine fer . long term Of
years. The Boston and Maine railroad
will guarantee 10 the stockholders Of the
Concord railroad such q sum ~ will equal
the dividend OF 10 per cent for years paid
by the Concord railroad. II will gusran-
tee to keep In its present repair and snlcf-
ency the roadb its rolling stock and all
of it's property, and u operate the same Ia
a manner equally advantageous to its
stock holders aad the public. Tue con-
sum nation Of the deal will end the bitter
warfare In New Hsnpshire. and prove q
serious blow to the personal ambition of
the men Who have bssn the lsadiu spirits
Ia the strife.
vithsut Competitors.
These members Of the Concord directory,
headed by John Il. Pearson Of Concord,
N. H., one Of the managing directors of
the road, will b obliged b retire from
active participation In it's Affairs II Is
understood that they will be replaced by
Frank Jonss apd sthsrs who have in the
past been associatsd With the Boston and
Maine. BY this accession 10 its passenger
and freight tYaffic Of eastern New England
ii will have Ne competitor Of consequence
In either Maine Or New Hampshire or the
upper Connscticut valley. Its connections
on the ssst will roach New Brunswick
and sn the north scuca the Dominion and
the Grand Trunk system.
IL 10 but natural that such q consolida-
tion should lssA - reports Of other and
equally important railroad deals, and 10 ls
ALREADY suggested that the next move will
bring about railroad business agrssmsat
IL aethinE nsrs, With the Reading or
Mcleod interests In fact, some people
who have been watching the recent actions
of this somewhat errstie rutlroai masnste
can see the Aas hand of Mcleod through
sut the entire Aeal, the consummation OF
which 10 sutlined above.
A railroad s>sn who has n reputation
for looking iato the future, and who Ave
years ago announced the union Of the
Boston and Maine and Concord and
Montreal as imminent, said; The
Concord and Montreal ana Boston
md Maine deal means In the near fu-
turc that the coatrol Of these important
properties will pass into tie banda of The
Csnsdian Pscinc railroad. This Dominion
corporation has long been seeking. sys
business agreement or otherwise. 10 secure
an entrance into Boston. The men who
will control the consolidated corporation
are on the most friendly terms with the
Canadian officials, and a union Of interests
will follow ~ q matter Of course. This.
aud this alone. leads me to regret the steps
that have bsen taken"