The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-09-08
GENERAL NEWS
OF INDUSTRIES

The greatest combination of private
capital ever before enlisted in one en-
terpri,e in the United States is said in
a Chattanooga dispatch to be support
ing the Southern Railway company.
The underwriters, ne they may be
termed. OF the reorganization scheme
OF the Richmond and West Point Ter
minal and the East Tennessee, Virginia
and Georgia Railway company are said
to be mono other than. the Rothschildp, OF
London and Paris, and the Vanderbilts,
Of New York, Cornelius and William K.
The reorganization, US is well known,
was undertaken and successfully con-
summated by Drexel. Morgan & Co..
of New York, and by J, S. Morgan &
Co. Of London. These two great
banking houses interested their richest
clients, the Rothschilds and Wander
bilts, and as result the syndicate is
small in numbers but is colossal in
wealth. representing the greatest az
gregation of capital in the world
more than half u billion of dollars.
The reorganization plan provided for
$50, 600, 900 Of new ctpital, and 1t is
this sum that the syndicate has agreed
to supply, and more, IL necessary. the
money to be used in heavier rails. new
bridges. new equipment. terminals,
extensions, etc.
The Southern Railway company has
now in complete ownership 4 500 miles
of road, and by the re-organiz alton has
reduced the bonded Indebtedness from
S135, 100000 to 800 1000. 0OO-just one
tbird-and the fixed charges from 81
500, 900 per annum to 81, 500 0O0-a saw
ing OF $80O0.00O per annum. The
bonded Indebtedness of the road is now
less than $4,000 per mile. The frat
annual meeting Of stockholders is to
be held in Richmond. Va, Tuesday.
Oct 2. and bonds to the amount of
$120, 900. 900 on the entire property will
be authorized. There Is now very lit
tie doubt that the Southern railway
project is simply an extension Of the
Vanderbilt system into and through
the south. The Chesapeake and Ohio
will no doubt become part Of the sys
tenn within a short time. and
the Queen and Crescent sys-
tenn will ultimately become
part Of the system. whatever
may be the immediate plans Of the
Cincinnati, Hamilton and Dayton peo-
pie. Through the Cincinnati South
ern, the Big Four Of the Vanderbilt
system will be reached at Cincinnati.
The controlling stock Of the Central
Railroad of Georgia is held by the
Southern railway, and when the prop
erty finally gets into the hands of the
security holders, which is only a ques-
tion of short time, it will be discov-
cred that the Rothschild-Vanderbilt
syndicate 10 In control. The plans OF
the Drexel-Morgan people are so near
fruition that 1t it no longer matter OF
speculation that the greatest railroad
combination on earth Is near compile
tion. Twenty-Five thousand miles OF
the best railroad property in America
will soon be under the control Of the
Rothschild- Vanderbilt combination.
Since it began business. the Lacka-
wanna and Montrose road has carried
nearly 80, 900 passengers. The mum ber
of passengers carried in '93 was 83. 1888
In freight, there were carried in '93
9. SS5, 862 pounds, and received IA, $685..
S71 pounds, besides 1000 tons Of coal
from Heart Lake.
The Lehigh and Wilkss-BArre Coal
company, instead Of preparing all tine
coal mined from the slopes adjace to
the No. 8 Honey Brook breaker in that
mammoth plant, as was formerly done,
now transfers fair share to No. 2
Tresckow. The latter breaker has only
limited supply and can prepare it
with ease.
After an idleness of two months the
Tresckow coal washery, formerly
owned by Stickney & Cunningham.
will resume operations under the man
agsment of the Conlack Coal company,
of which it is said the Leisenrings are
at the head. This company has been
operating a washery at Honey Brook
for the past year and to their enterprise
is due the success Of the plant. II has
q shipping capacity of 200 tons of coal
daily and works increasingly. A large
force of mechanics are at work making
some necessary improvements at the
Tresckow structure and the rusty mC-
chinery will be put In operation under
the direction of Elmer Evans. Fifty
hands will be given work.
MINOR INDUSTRIAL NOTES:
The Lattimer branch OF tho Lehigh Trac-
tion company is rapidly nearing COM
pletion.
The amount Of money invested in cleo
trical industries in this country Is esti.
mated at slightly over 81, 0OO, 900, 900.
1t is claimed that great many Of the
Reading securities recently bought have
been delivered to Drexel, Morgan e. Co.
The Monon is now carrying the largest
freight tonnage at any time in its history,
and the freight earnings are showing up
very satisfactorily.
The coal mines on the Evansville and
Terra Haute are starting up and the coal
traffic Of the road bids fair to be an i'm
portant item for the next few months.
Frank Rammann. of West Bethlehem,
son Of the late Harry Hammann, has
been promoted to the position of assistant
40 A. w. Nonnemacher, the assistant gen.
aral passenger agent Of the Lehigh Valley
railroad, in the place of Theordore Kamp-
man, who resigned to engage In the jew
elry business in Bethlehem.
The sale of the Quarryville railroad was
consummased Tuesday at Lancaster,
Charles H. Locher, the banker, who was
the purchaser, making the final payment
Of s2S7, 600. Mr.. Locher says be bought
the road as private enterprise, although
1t is generally supposed some pi omineut
railroad men are interested In the project.
Henry Rawath. the oldest locomotive
engineer In America, has just died at Au-
gusta, Ga. He pulled the throttle OF the
first engine used on the South Carolina
railroad, and had record Of more than
a half century continuous service with
that road. He continued in charge Of an
engine until 75 years of age, when his eye
sight failed him. At line time Of his death
he was S5.
Philadelphia Tallow Market