The sun., 1897-11-24
SYNDICATES BUY RAILROADS
Sugar Kings and Brokers Deal for
Railway.

Railway.
Another syndicate deal. This time the
interested persons are sugar kings,
brokers and others, and the OBJ
ioct Of thr transaction is to control GER
tain railway systems. At the head OF
This movement is Scott & Company OF
this city. and associated with them are
John +. Scarlcs, secretary and treasurer
of the American Sugar Refining Com
pony oi New York. Mcssrs. Semmes, Ca
rev. Steele and Bond OF Baltimore.
They have bought the Columbia
and Maryland railway and all com
panics connected with it. The deal
means much. First, the syndicate will
control several lines in Washington and
baltimore, together with valuable fran
chiscs and the propactcd line between
Baltimore and Washington. Second, it
is very probable that agreements will be
made with the Pennsylvania Railroad
and the Southern Railway for the extern
sion of those systems All connected
with the deal are silent as to anything
concerning it. hut that the deal has been
made. is true with but one more trans
action to complete it. That is the cx-
change Of certain securities held by ,. A.
p. Wcidncr and W. t. Elkinson.. phila-
dolphin, S3.0OO,OO0. the amount to hc
paid on the first mortgage is now on de-
post in the MARYLAND Trust Company
Of baltimore. 1t is understood that the
amount to be paid for the road will BE-
less than the price Of the first mortgage.
The intention Of the Scott and COM
panys syndicate is to build line be-
tween Washington and Baltimore. over
which electric trains can run at a high
rate OF speed. This project was under
way when the Columbia and Maryland
Company went nto the hands of the
receivers. After the receivers were
dismissed a reorganization was affected on
basis OF $3,OOO,00O first mortgage and a
secured stock of S3,OOO0OO.
The road is completed from Howard
and Saratoga Streets in Baltimore to
Ellicott City. In Washington the syndi-
cate will control the lexington, Soldiers
Home, and the Belt Line roads. The
road now under way is in operation from
Washington to the limits of the District
and out as far as Lowell. Five miles Of
tracks have been laid with middle divis-
ion betwc Ellicott City and Lowell.
The Scott & Company Syndicate will
complete the line at once and it is re-
ported that the Southern Railway will
allow the use OF their line to Baltimore.
The Sout hcrn Railway would have much
difficulty in getting franchise from
Congress to allow it to build road
through Washington, but the Columbia
and Maryland Company could easily
complete its road to Cantonsvilc for op-
Grafton by steam, and the Cantonsvillr
Short Line which is Il part oithc Column
bia and Maryland property, be used to
enter Baltimore.
BY this plan the Southern Railway
would have a terminus in baltimore and
would BY in q position to deal with the
Pennsylvania road to points North and
East.
TIL" Pennsylvania Company for some
time past has been cnlcavoring to secure
the Columbia and Maryland for the pur-
pose Of making it Il suburban railroad
and operating the divisions between
Washington and laurel and Baltimore
and ElIicott City. The line runs parallel
to the +. & O. railroad and thus the
Pcnnsy would rival that road for the traf
fr between Baltimore and Washington