The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-11-27
BIG RAILWAY DEAL
Important Roads in New England
to Be Consolidated.
The Boston g. Maine Secures Control Of
the Concord & Montreal and Its
Several Branch Lines.

BOSTON, Nov. 26.-The elimination of
one of the largest railroad deals known to
New England for years appears TO be at
hand and to-night the Associated Press
is able to give the history OF the deal,
which is to lead TO a combination of the
most f-ar-reaching character deal which
means the consolidation of the leading
railroads in two States in conjunction with
the most powerful corporation in a third.
The companies in question are the Boston
& Maine, the Concord & Montreal and the
Maine Central, with another in view yet
unnamed. The Concord & Montreal rail-
road, as now made up, comprises the Con-
cord railroad and the old Boston, Concord
& Montreal, the frst-named having for
merly reported thirty-fve miles OF road,
from Concord to Nashua, including tho
Concord & Portsmouth railroad, the
Nashua q Acton railroad and the North
which it helped 10 construct. 1t had and
now maintains the control Of the Merrimac
valley. Later, about six years ago, tho
Concord railroad and the Boston. Concord
q Montreal road were consolidated under
the name of The Concord & Montreal rail-
road. The road was rich, and It's valuable
prize. much sought for by other corpora
principal rival in that State The result
mas been a series OF legislative
battles between the two roads
of railroad and business men all over the
country. SO intense has been the struggle
that The two roads have expended fortunes
IN the warfare, and have practically con-
trolled not only bosh legislative bodies, but
the Governor as well. Four years ago a
truce was declared. and the two corpora
stons have since that time worked more
tremendously.
In the meantime Hon. Frank Jones. pres
ident and leading spirit of the Boston g
Maine road, has become the purchaser and
holder of large blocks Of Concord railroad
stock, and is now one of its heaviest stock
holders. Under his able management the
Boston & Maine has extended its connec-
tions in different directions and States until
the Concord road has been practically blot
ted out, having no terminals except
those under the control OF the Boston
* Maine. Thus placed at a disadvantage,
some of the leading members OF of the Con-
for that road to capitulate, and several
months ago a committee was appointed
from both roads TO consider the advisable
lty and terms OF lease of the Concord to the
Boston d Maine. This joint committee held
several meetings, and matters were pro-
crossing smoothly, when a change in tho
management by which Mr.. Jones' retired
from the presidency and directory or the
Boston & Maine made a suspension of ne
gotiationS necessary.
Under the new management a new COM
mlttee was, however, appointed Oh the part
of the Boston d Maine. and the deal took
on new life. The Boston & Maine was
ready TO lease, the Concord men ready 20
be leased, and such progress has been made
that nothing but the agreement upon minor
details and the passage OF the necessary
papers remains to be done 10 ~
the union. BY the terms Of the agreement
the Concord railroad will pass into the con-
troll of the Boston & Maine for a long
term of years. The Boston & Maine rail-
road will guarantee to stockholders of the
Concord railroad such a sum as VIII equal
the dividend OF their 10 per cent. for years.
1t will guarantee to keep In its present re-
paired efficiency the r1adbed, its rolling
stock and all its property, and 10 operate
the same in n manner equally advantages
Gus TO its stockholders ard the public.
TIL company will have no competitor
in consequence in either Maine or New
Hampshire Of the upper Connecticut VAL
ley. It's connection on the east viii roack
New Brunswick, and on the north will
touch the Dominion and the Grand Trunk
system at Cedar Brook and Cookshire juno
ton. 1t is but natural that such a CONSOLE
dation should lead TO reports
Of other and equally important
railroad deals, and il is already
suggested that the next move will bring
about a railroad business agreement, u
nothing more, with the Reading or Mcleod
interests. 1t is, in fact. some people who
have been watching the recent actions Of
this somewhat erratic railroad can see the
fine hand OF Mcleod throughout the entire
deal, and the contamination which is out
lined above