The Providence news. (Providence [R.I.]) 1891-1906, 1893-02-11
A BOSTON VIEW.
OF THE NEW HdTEN-OLD COLONY
R4ILRO4D DEAT.
the Old Colony Sold to the Big and
Greedy Consolidated.

The Boston Commercial Bulletin OF to-
day has this to say or the absorption OF
the Old Colony railroad by the New York,
New Haven aud Hartford Company:
The changes in the New England rail
road situation are at last focusing. The
New Haven seems to have secured the
Old Colony at round price. Some
holders Of Old Colony stock are puzzling
their brains to determine whether they
ought to open their boxes and sell the
stock. The fact that some certificates
bearing old dates have strayed into the
Street recently proves that some cautious
fellows have taken Old Colony from their
tin boxes and sold IL.
1t is expressing it mildly 10 say that
the mercantile interests OF Boston and
New England regard the absorption of
the Old Colony by the New Haven road
with disfavor and apprehension. The
New Haven has always followed a policy
inimical TO Boston's business and travel
ing interests. 1t has enjoyed too much
OF monopoly and in consequences has
grown naughty and tyranpical. Lack OF
competition has also caused the New
Haven management TO grow careless aud
improvident until, as we are told by a
gentleman who should know whereof he
speaks, II would be considered a very
poor management in other parts OF the
country where competition is sharp
The only advantage which we can rea-
sonably expect from this new consolida-
tion. judging from the past record of the
New Haven, is quicker time between
here and New York. Otherwise, the
thousands of manufacturers, hitherto
served efficiently by the Old Colony,
must not be surprised TO see that service
AaNa NarfA, Ih. L.
good price for the Old Colony, and hence
forth will have TO pay 10 per cent on
nine-tenths of the Old Colony caIital.
The Old Colony paid per cent on this
capital. Hence, IL is fair TO presume that
the New Haven will take this additional
money out of the patrons of the road.
The difference between z per cent on
the 1876, ,675 shares Old Colony stock and
10 per cent on the l22, 1919 shares of New
Haven stock, which the latter COMPANY
will issue in payment for the Old Colony
(nine shares for ten OF Old Colony is
S27l ,3jO This Is the sum which the New
Haven must make the Old Colony pay
in addition to what it has paid. will It
come out of the people? Ii the New Ha-
ven has its way, il Will.
Apropos of the New Haven-Ol Colony
deal the following letter to us, from a
well informed Providence gentleman is
Of general interest:
- was iau W see IN tne commercial
Bulletin the other day paragraph con-
tanning the truth about the New Haven
road. 1t Is not only hostile to Boston,
but TO the local interests of every com
munity it reaches. Here In Providence
people are re9retJlng bitterly Its control
of the New York, Providence and Boston.
The rumored consolidation with the Old
Colony-whlch is fairly and even gener-
ously administered-ough u be fought
in MASSACHUSETTS tO the last, so that no
an arrangement. A close alliance for
through traffic is all right. but to give up
the local interests OF all Southeastern
Massachusetts TO Clark and his gang
would be fatal The New Haven is not
only mean corporation, but badly
managed one"