Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1894-07-26
REPRESENTING A COST OF $8,OOo,OOo

An Important Peninsula Railroad anu
Steamboat Combination Effected
Through the Efforts of II. p. Scott oil
This City.-The Eastern shore Raiiroad
and All the Eastern shore steamboat
Lines Consolidated Under One MANAGE
What the scheme Comprises.
For some time past there have been
intimations that very important rail-
road and steamboat transaction was
taking place which would very ma
terially aid in the development of the
lower part OF this Peninsula.
Through the energy of Mr.. IL. L.
Scott of Elliott, johnson & Co., the we'll
known bankers of this city, there have
been purchased the Baltimore Il Eastern
Railroad Co., the Choptank Steamboat
Co., the Maryland Steamboat Go. and
the Eastern Shore Steamboat 90. Cap
tain Willard Thomson Of this city has
been receiver of the railroad company
as we'll as general manager OF the East
ern Shore Steamboat Co., and 1t was his
plan that these companies could best be
managed through consolidation, and
that the Eastern Shore of the Chesa-
peake Bay, whose traffic they practically
control, could be best developed by Il
companvswith sufficient ability to fur
nish the best transportation facilities.
Mr.. Scott has succeeded in securing
the financial support in his undertaking
of Mr.. John L. Searles of the American
Sugar Refining Co. and mis- friends. A
new company will be formed which
will take over these properties, probably
with a capitalization of $l,000,0O0 COM
mon stock and 81 100000 preferred and
$1,250, 900 first mortgage 5 per cent 40
year gold bonds.
The properties which will go into the
company will comprise about 80 miles
of railway, which have been relaid with
new steel rails within the last three
years, very valuable rolling stock, equip
ment, terminal properties, &C., 10 first
class boats, u majority of which are as
magnificent as any bay steamers, and
considerably over 100 wharf properties
including South street wharf, Baltimore
Mr.. SCOTS firm will probably offer
the bonds to It's trade in the near future
They will be first mortgage on al
these properties, which cost 10 build
upwards Of $2,000,000.
Since the interest on the bonds viii
amount to but about 100000 per year
and these companies under competition
have been averaginga not total of abou
5000, 900, these bonds will be exception
ally attractive.
Probably no section of the world il
better adapted for trucking purpose
than the lower part of this Peninsula
and with able money assistance ant
modern transportation facilities !
should be one of the most thickl,
populated parts of the United States
1t grows almost everything that i
palatable, from soft-shell crabs to pota
toes, and since its products are almos
exclusively food products very little in
jury is felt from business depression'
, Its stuff is perishable and must b
, shipped out, consequently transpol
tati9n earnings are practically sure.
is intended to associate with the ne,
, company proper immigration agencies
The names of the gentlemen men
toned are sufficient to assure all prope
financial assistance. In addition to thos
given, Mr.. Enoch Pratt Of Baltimot
and some of the Eastern Shore peopl
of this city will be associated with th
new management
, Anything that improves and develop
portion of this Peninsula will have
!, favorable effect on this State, eve
Z though present operations are nj
within its limits, and this movement
g looked upon as one of the most impUrtal
/, for good that has yet been taken.