New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-28
TO CONTROL RIVER TRAFFIC..
THE VANDERBILT INTERESTS TO ABSORB
BUSINESS on THE HUDSON.

BUSINESS ON THE ffuDSCN'
\ HUGE COMPANY FORMED FOR THIS PURPOSE
IT WILL SWALLOW THE PEOPLES LINE AND
GAIN ALL THE FREIGHT AND PAssEN-
GER TRADE BETWEEN ALBANY AND
NEW -YORK-NEw STEAMERS TO
BE BUILT AT oNCE-WIIAT
CuAUNCEY NJ. DEPEw
AND II. WALTER
WEBB SAY.
The elimination of protracted negotiations, in
voivng financial interests Of great magnitude,
was signazed yesterday by the fling in the
office of the Secretary Of state of Ncw-Jersey ot
Incorporation articles Of the Hudson River NaVi-
cation Company.
Ever since last fall an effort has been made
by prominent capitalists. largely identifled witA
the Vanderbilt interests to secure control of the
enormous and profitable passenger and freight
traffic Of the Hudson River between New-York
| and tide water at Albany and Troy. The compe-
ttion existing for years between the Hudson
River steamboats, and the New-York Central
and West Shore railroads has at times resulted
in ruinous cutting Of passenger rates during the
summer and Of fregh; rates the year round.
Th, new company will put an end 20 this comp"-
ution a. it expects ey 'ntually to control all
the general freight and passenger business along
thc Hudson.
FIRST STEP ~ THE SCHEME
The capitalists Interested in the project an
nouneai that they have just signed contracts by
which they come into control Of the Peoples
Line of steamers. one Of the oldest on the Hud-
son River. which now enjoys partial monopoly
~ the river passenger and freight business be
tween Ncw-Yort and Albany. and which IS
| therefore. the main Ink I'm the chain. The re
| organizers intend 10 put two new boats on the
river within a year and 70 avoid the charter
limitation f. was necessary to organize the new
company. the papers uf which were filed yester-
day This corporation has also contracted for
the construction ~ n new passenger boat ana
within a few weeks both this company and the
| Peoples Line will be absorbed 10y a new third
company. whose purpose also is to absorb the
| other principal Hudson River lines.
WF1I-KNOWN FINANCIERS AT THE HEAD.
The prime organizers of the parent company
| arc. C.,y Chamberlain j. j O'Donohue, r. q.
| Ro.stou. president ~ the Farmers Loan and
Trus; Company. John English jacob Hayes
/ Chauu.cy VI pep"W II Walter Webb II ..
Young. vice president - the Delaware ana hua-
son canal Company. " J. ArkeI. Charles r.
| Wells. Willard Brown. \ Hepburn. president
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