Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-18
ARMoUR's FRIENDS BUY II. & o.
Paid S1O,OOO,OO0 in Cash for TIRE
organization soon to Begin.
(Chicago Correspondence New York Her
alb 1Tfhl

(Chicago Correspondence New YORK Her.
aid, 17th)
CHICAGO I'LL, Friday.-Philip d. Ar
mour, Marshall Field, and Norman b.
Ream have obtained the control of the
Baltimore and Ohio railroad. Ten million
dollars is the price paid. They have made
James j. HILL president of the Great
Northern railway, the dominant factor In
the reorganization of the system, and
have gained for Chicago and the North
west what Is practically trunk line
from ocean TO ocean, controlled by Chi
cagO capital.
Mr.. Armour tonight admitted that the
purchase had been made. Mr.. Ream en-
gineered the transaction by which his
wealth, that of Mr.. Hill. of Messrs. Ar
mour and Field gained a controlling IN
terest in the Baltimore and Ohio, which
hereafter is to be Chicago enterprise,
fed and sustained I'm transcontinental ar
fairs by that immense mileage OF the
Great Northern railway. If any road
completes the gap between the terminus
of the Great Northern railway IN 81.
Paul and the terminus of the Baltimore
and Ohio I'm Chicago it will be the chi
cago Great Western railway, but that Is
a matter Of the future.
NEW MANAGERS.
Mr. Ream will become a member OF the
Executive Committee of the reorganized
company, and either Mr.. Field or Mr.. Ar
mour may become a director. although IN
all probability the trio will be represented
by Mr. Ream. Mr.. HilPs connection with
the transaction, through Mr.. Ream, fore
shadows the statement that he will be
the prime factor OF the Operating De-
partment Of the new company, ana that
western methods of railroading VIII pre-
vail. ~,
While the exact price paid by the chi
cago men IS not known. 1t is said TO be
about SO 600 cash. The details OF the
transfer OF the properties OF the ROAD
were discussed at a conference held 10
day IN the Auditorium Annex. Az TINS
conference Mr. HILL Mr.. Ream; John r.
Cowen. president OF the Baltimore and
ohio; Oscar G.. Murray, receiver, ana
William NJ Greene, general manager Oh
the road, were present. They were IN
conference until half-past O'clock TO-
night. when Mr.. Hill left for ST, Paul ana
the Baltimore ana Ohlo OhiSlaAS i"i NV
East. " ,,,.
Mr. Ream. when seen tonight, declined
70 be interviewed, but one or the Ealtl-
more and Ohio officials confirmed the re.
port that in addition to the noinlnss ..
the road which the Rockefeller interests
are reported to have obtained last week
for western hackers OF the road, Messrs'
FIELD. Armour, Ream, and Hill had Cd
tanned sufficient stock TO make chicago
and the West the domlna anu eiedieh' ~
the future management or the roau. A..
PRESIDENT Cowen was not prepared 10
x,aLa q fuIl statement until after ne had
consulted with Mr.. Ream. MT. mn moulu
NOT DENY that Field, Armour, ana heain
had assisted him In almost rea Az psoi n,c
dream az having a road from the Paclnc
~ the Atlantic controlled by western mem
II is scarcely six years ago that MI hIil
said at a banquet In the Wesl luz ~
Minneapolis: II expect to nVe 70 see .ne
Saw and 10 take part when railroad rates
u ssHH ba On much cheaper than water rates
WI. DC Liter lines will be practically obso-
late