New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-21

Az AGREEMENT nr;TwrEN THE BALTIMORE AID
OHIO AND THE WHEELING AND LAKE ERIE
REGARDING THE VALLEY RAILWAY
OF olfIO-c1IANGEs At CLEVELAND.
An agreement for the join, u.c q the Valley
Railway OF ohio by the Baltimore and Oaip and
Wheeling and Lake Erie Interests has been sub
mlttcd to and approved AMI signed by the IeorEnn-
lz,,ion Committee Of the Valley Railway AMI Will
20 into effect as soon the reorganization u the
Valley Railway 8 completed The agreement -
permanenf having Ninety -aino years % run. AMI
Is Of such a character that even the roads which
are parties 10 II should pass into other hands II
cannot De disturbed. Under It the Wheeling and
Lake Erie obtains fnli unning rights over the
Valley road ana Baltimore ana ohio interests re-
ccivc the same righfs over that part Of the Wheel
Ing ana Lake Erie line which i"- between Na'"'
Junction and The city ~ Wheeling
4 new line Is established fpr freight nnd Yas~rn-
ger trafrc between Wheeling. Sicubenvlllr ana
other ohio River points on the Wheeling and Lake
Erie lines. and the cities oi Cleveland. Akron ana
Canton and other points the Valley road over
which all the freight AMI passenger irafir ~ each
Of the parties l. To pnns freely Tho Wheeling AMI
Lake Erie Company IL to have fun accer" - the
important terminal" ~ cleveland. the largest lake
port except chicago, including access TO all DEW
ery ana Industrial tracks aud especially To the 'N-
tcnsivc system OF piers and whar'"s when FORM
=, important an element IN the tranc IN coal and
,alns the right to acquire It's own yards. ware
houses and other facilities in Cleveland and con-
nee, them with the valley tracks
The wheeling and Lake Erie Company thus oh
,alns full entry TO the city OF Cleveland. Large
expenditures will be made In cnlarslng and I'M
proving the terminals. and a double track VIII be
butt from brooklyn to the city 10 accommodate
the increase Of business which VIII result from the
new arrangement.
Another feature OF the compromise Is the possible
arrangement by which the Baltimore and Onto
Company will obtain entrance. which II does
not now enjoy, into Toledo the tracks OF the
Wheeling ana Lake Erie road from crcston. The
Wheeling and Lake Erie Company owns the belt
line at Toledo and has extensive terminals in the
heart OF city. This settles the controversy over
the Valley Railway OF Onto which will in future
be operated by the Baltimore ana ohio Company.
In close alliance with the Wheeling and Lake Erie
Railroad Company. under this arrangement 49,
pai,imorc and ohio was coyonosel 81 Lon,s Fitz-
gerald. Edward H. Bacon. Giles f.. Tantor Jane,
Sloan. jr. Alexander Shaw. William II. Blackford.
organization Committee representing the Wheeling
and Lake Erie party was composed Of Myr0n 7.
Iierrlck John r Whtelaw. william bingham, IT.
CLEVELAND ". f. Conner. Of New ,rk ana Henry
y. Paul jr.. OF Philadelphia; The baltimore and
Ohio Committee had deposited with them nc-thlrl
| Of the first mortgage bonds and two-thrds OF the
second mortsage bonds The Wheeling and Lake
Erie Cleveland Committee ha. under their control
two-thirds Of the first mortgage bonds and one
third OF the second mortgage bonds.
Neither committee was IN position TO put
through reorganization without long and tedious
| litigation unless coinpiomiso could be effected.
The Cleveland committee Will allow the baltimore
was done on condition that contract be made be
tween the Wheeling and Lake Erie and Valley
Railway cornpanc s which should give TO the
Wheeling and Lake Erie whatever use OF the Val
ley line II demanded.