New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-03
BROOKLYN ITES
Watch this Column until Election.
Each, Day Will Show a New Statement Of Facts
concerning Brooklyn
And yet Mayor Body has been giving away franchises right
and left speech Jesse johnson, Republican Leader
Seth Low says in speech: The Mayor p
Brooklyn
On July 15 Body vetoed the resolutions franchise
the City ought
February H. 1893 introduced bill Albany
on
per m"e per cent Oh @+0'0' o'e per cdhe
failed in Assembly
H. 1898. Council
fair and franchises proposed for Brooklyn CITY, Nassau
KngsCo Electric
Apri, q. Body resolutions ground that they
amendment
lime ~ providing
insisted on by Mayor Body
by Body City $4,000
early day.
Who is right, Jesse Johnson or Seth Low?
A HUNTINGTON ROAD SOLD.
ono AND SOUTHWESTERN
GOES TO LOUISVILLE AND NASHVILLE.
,o,xr onrr,rIoy WITH ILLINOIS CENTRAL
TILL. THE TRANs>CTICN Is coMPLETED-AD-
yANTNrES FOR LOUISVILLE AND NASH
vILIC-Ms. HUNTINGToN'S Sue
CEsspl'I. SALE or ILLINOIS
CENTRAL BONDS


7, rrov he authoritativey announced that the
negotiations for the acquisition Of the CHESAPEAKE
Ohio and Southwestern Railroad by the Lou's''ne
ord Nashville Railroad have been virtually ended
TIN. Louisville and Nashville has he'd an option
on the property for a long time. Dut 'iiS mas o's
inst been exercised and the terms are uideiS''ou
10 be more favorable to the l-ouls'iif COMPANY
than could have been obtained at any Time III "o
last wear The Illinois Central Railroad Is uhder-
1901 -, bo interested in the deal. but TO what
ox,apt nov not be learned for the present. August
belmont chairman OF the Board OF Directo'S VI
the Louisville and Nashville, declined 10 o'Seu',
tho terms OF details OF the arrangement ana
officers of the Illinois Central who coud speaS
with authority were not in the city.
The sale transfers the control OF large majority
y, ,ho stock and Junior securities OF TIE Chesa-
peake Ohio and Southwestern to the l-ouisNi'' anu
Nashville The amount involved Is ABOUT S''"V''V"
in money Coils +. Huntington VINO se'S VIC
ChesapealIe road. retains control OF i's n'S' "V''
vope bonds To finance the transaction IL Is re-
ported a syndicate will be- organized OF capitalists
interested in the Illinois Central ana the LOUIS
,iue and Nashville who will issue and guarantee
,on-vear notes for tho amount OF the purchase
money the Louisville and Nashville 10 MOI" d"
option for ten years to acquire the 'hes'p'a"
road outright by paying on these notes ii NV
mean time the lastnamed road VIII De operai.u IA
the Joint interest Of the Illinois Central ana the
Iou,sviu. and Nashville. 1t is authoritafiveiy
stated however that there will be no OUTSIDE UT
Intermediary profits secured on the TRANSACTION;
and the Chesapeake road viii De turheu o'ee' "'
cost 10 the I.ouisvillf's stockholders ,,.,.
The Chesapeake ohio and southwestern ,oihpals
was organized In 1871 In lsso II was ,o
WaiI.y a security corporation organized uhuer
IN. Laws OF Connecticut by I, T. tluhtihevH or
his friends There win be no dinicuty IN IN s .ns
trnrsfer OF the Chesapeake ROAD because vi Wy
mort News company. The main line OF me mesa ,
peak. Ohio ard southwestern rum rom io r',r
v,. Ky To Memphis Tenn 3ss miles out W. ~
i,s stons and branches. the system covers A.
Iilino. central IL that It provides route 10 81
Inus by way OF Memphis. when Is an uipuI tsl.,
certr. OF traffic. At present the Illinois 'eh,rai
runs about leD miles east of Memphis. me Nilu.
to the Louisville and NashViiie hes III ,ne ,ticb
that that company secures control or me winch
might become a dangerous competitor IN miRr
part OF the territory tributary 10 ue iouiSer,,s
and Nashville. The latter also sayes the MN s,
OF building extensive terminal fac'iities III . s
phs which were contemplated at COST VI ''o'"
$4,000 10 $4,000. i, ax,,,r.
{, = HUNTINGTON said yesterday. In conhrinins
m. announcement OF the deal: RMS puircn"ii
gives the Louisville and Nashville every thihs ~
k.n,ucky east of the Tennessee River ana Wes
OF Lexington, making practica' n'onopoi,s AZ
cn,lInyly expensive build railroads. W"uii
rot have sold this property If II had not Drrn iV
the fact that ! am disposing OF all my. htetts,S
east of the Mississippi River and' therefore, ""'e
no connections for the road - NTH.
II tx understood that Mr.. Huntington has recratiy
nlacel I'm the hands OF syndicate N2WpVh illilolS
central 4 per bonds which he receiver rom
that company as part payment TOT tne sale vi IT,
t'incinnnti New Orleans and Texas Railroad Inc
svnlicate has thus far sold abroad AOpW OF tneS,
bonds and has given an option upon an aduitiohai
large amount.