The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-10-24
LACKAWANNAI IN NEW HANDS
W. X. VANDERBILT, MIR. MAXWELL,
AND THEIR FRIENDS IN CONTROL.

Another Move to Secure Harmony Among
tho Tru.k Lines-Ciosc Relations to Be
Maintained with the Lake shore and
Nickel P1nte-A stock Dividend Discussed.
The recent advance and continued strength
In the stock OF the Delaware. Lackawanna and
Western Railroad Company were explained by
the announcement yesterday that Messrs. W.
X. Vanderbilt and ]. Rogers Maxwell and their
friends had purchased sufficient amount OF
the stock to enable them TO dictate the future
policy OF the company. It has been known FOR
some time that Messrs. j. W. Davis II Co. and
Maxwell h Graves had bought largely OF the
stock. but the Street paid little attention to
this fact until within the past two or three
weeks. When the scarcity Of the floating stock
in the market was made evident by tho diff
Guilty In borrowing it aud the quick upward
movement In price that q buying order oc-
casionod 1t was rumpred that some sort OF
combination OF the anthracite coal interests
was on foot.
Naturally enough. by reason OF their connec-
ton with the Reading coal combination. tho
movemant was said to originate with the In
forests vaguely spoken Of as the First Ma
tional Bank Jersey Central party. iester-
day Developments showed that part OF the
truth had been guessed. but that an important
factor. tho Vanderbilt influence In another OF
the trunk lines, had boon overlooked. This
influence Will 10 useu III tlle iuteleSt vi HuT-
mony in the trunk line situation. and it Ia I'M
derstood to have been agreed that Mr.. W. Van
derbit is to direct the policy OF the Delaware.
Lackawannn and Western Railroad in this re-
gard. while to Mr. J. Rogers Maxwell will be
left the task OF advising on matters involving
It's coal interests The relations between tho
Lacknwanna and the Lake Shore roads will be
drawn closer. and the Nickel Plate will benefit
from the change Of policy in that 1t will receive
a large share. IL not ALL OF the freight that now
il delivered to the Chicago and Grand Trunk.
The, Lnckawanna will in turn benefit by thus
hay ing secured to 1t Western connection
paign so successfully will speak OF it only s
ns 10 ni Jorsey cenpa
IN tho Lackawannn cannot but be beneficial to
view OFT Of the situation though they do not re:
gard the arrangement as approaching coal
No change is desired among the chief e1ecu-
tive officers Of tho Lackawanna. and 1t is the
wish OF all parties that Mr., sloan may consent
ana the TACT that It has been under his man
Lackawanna and Western have been so wisely
sa 1T Is mot yet whether there ere
Board Boa Of Directors. The tirectors at present
are John l. Blair. George Bliss. Percy L: Pyne.
". " Asto, Eugene Higgins H. "A a; G: Taylor.
McGiintosk: VIM. Roc eel ler. ~, II. Appleton.
James stilman,i, and T. T. BHlla an The
law OF the company requires that a voter must
have owned his sock for ninety days prior to
the election.
names Of Siess rs" Vanderbilt and t Maxwe and
their friends when the books are closed can;
10000 shares transierred to his name yester-
transfers within the next few DAYS. The capi-
tai ofthe Delaware. Lackawanna and Western
Railroad Company is S2i;2uO0On in $4,000
s hrfs s5d o ] T shsr MoSs and To saas
Work something under 25.OO0 shares.
The bulk of the present holdings Of the VAN
derbilt- Maxwell party was bought some time
ago. and the average price paid is said to be
stock. The purchases were begun in the early
summer and the ow PRICES in the recent PANIC
large block. 10000 shares. was obtained frora
one OF the life insurance companies.
Already the question OF increasing the CAPT.
tai stock to represent the Increased value Of
discussed. One Of the largest individual own
ers OF stock is said to advocate this step and
to have urged 1t upon Mr.. Vanderbilt: The
to rer cent in October 1885. and has paid at
the latter rate without interruption since that
date. 1t has carried its coal lands. bought
balance OF Dec. 81 last showed a book surplus
Of within a fraction OF SlI.OUO.OOO.
Do the vnnderbilts Want the Ann ArborS
CLEVELAND. Oct 23.-It is believed here that
the Vanderbilt system will soon acquire control
Of the Ann Arbor road. Last week President
John Newell Of the Lake Shore went over tho
roud with General Manager Ashley. Monday
morning the private car OF Assistant Superia-
tendent Blogitt Of the Lake Shore
was attached to tho north bound Ann