The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1898-01-07
ERIE GOBBLEs SUsQUEHANNA.
She Now Controls the Traffic u
Hackenaack aud Paters0n.

T p Morgan & Co. have purchased ma
toritv of the stock of the New York, Susque-
hanna and Western Railroad Company. II
is understood that the purchase has been mace
in the interest of the Erie Rallroaa ,;} Iopaas pa
a fair offer to the holders OF the minority
stock That there had been a change IN lhe
control was disclosed yesterday py the turning
into the Susquehanna Company's office OF
about half the total amount OF stock outstaha- L
ing namely, 126, 900 shares. The STOCK WIZ W pe
transferred to names furnished by j. r. MOI
gan & Co. Its requirement by that firm mas
extended over several months, the STOCK having
been bought principally in the open ,or
tance in its bearing upon the anthraclte codi
carving trade The operation OF the Susque-
hanna road in the interest Of the Erie removes I'VE,
ment and makes one less competitor IN the
trade The road is essentially an anthracite
of 227 miles and runs from Jersey City to
Wilkesbarre, with various branches IN the coai
regions It is the owner Of an extensive ter,
minal property at WeehaWken ana OF a lunnei
under the Palisades. !.
The company represents consolidation N
June, 1881. of the Midland Of New so Jersey anu IN
other railroads. and on April %. 1883, with the
Hudson River Railroad and Terminal Com
pany. 1t controls by ownership OF STOCK III. ane
Wilkesbarre and Eastern, completed IN 1888,
which affords an independent access to the
anthracite coal fields. Prior to 1888 interests
headed by Simon Berg tSs a0 road snce then
the company has been controlled by Cuyier,
Morgan & Co., Mcintyre WardWeil, anu
Kessler & Co. The total authorized issue OF OF
stock is s13 00O 900 of preferred and sls wy wy
of common stock, of which there Is outstanding
s12 s46 800 of preferred and 2Oo OF COM
mon. -. - ~, ,an,
Amos L. Hopkins is president OF the com com
pany and the directors besides Mr.. HOP
kns. are Vice President Garret A. HOBART
Thomas A. Mcintyre, C. c. Cuyler, h y
Armour, Henry Sanford, Roswell Eldridge, Id ,na IL
B. Plant, Gustav E. Kissel G. w. young
c. J. Lawrence, w. L. Bull and Simon Borg.
A meeting of the directors was heid at the
Office of the company, No. rs Cortiandt street,
New York yesterday afternoon after the new
of the change of control became pubic, put
no statement was made as to what was zone
at this meeting. - +toso
There was much CONSERVATION among those
residents of Hackensack who do business IN Jer-
sew CITY and New York when they heard' Inns
morning that the Erie had secured tne con-
troll of the Susquqehanna. 1t meant the trans trans
fer of the terminal of the road from the fenn-
svlyania station in this city to tnat OF me
Erie and that was not at all rellsneo py tne
business men, The facilities onered py the
Pennsylvania are considered by the patrons oi
the road to be superior to those OF the ERIE.
Another reason why the Hackensack peopie
felt blue over the change was that IL places p
them entirely at the mercy of the Erie me
only road between their town and New dorK 5
Is the New Jersey and New York halir2aa, s
and that passed to the control Oh the Fl ~ ie :
some time ago. The transfer also gives the
Erie a monopoly of the traffic to Paterson