Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-09-17
BUY THE B. AND O.
Chicago Millionaires Purchase a Con
trolling Interest.
PAID $l0,OOO,O0O IN CASH FOR IT
Armour, Field, Ream and Hill Will
Reorganize the Road.
TIL E FACT ANNOUNCED
From the New York Herald. Today

From the New York Herald, Today
CHICAGO, H., sFriday.-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
Hill, president of the Great Northern rail-
way, the dominant factor in the reorgani-
zation OF the system, and have gained for
ChcaSo and the northwest what is prac-
ucaiy trunk line from ocean to ocean,
controlled by Chicago capital
Mr. Armour tonight admitted that the
pnrcl ase had been made Mr.. Ream en-
sineered the transaction by which his
wealth, that of Mr.. Hill, of Messrs Armour
and Field gained controlling interest in
the Baltimore and Ohio, which hereafter is
TO De Chicago enterprise fed and sus-
tanned In transcontinental affairs by that
immense mileage of the Great Northern
railway. II any road completes the gap
between The terminus of the Great North
ern railway in st. Paul and the terminus of
the Baltimore and Ohio in Chicago it will
be the Chicago Great Western railway, but
that Is matter of the future.
New Managers
MI Ream will become a member of the
executive committee of the reorganized
A r
mour may become director, although in
all probability the trio will be represented
by MIR. Ream. Mr.. Hills connection with
the transaction, through Mr. Ream, fore
shadows the statement that he will be the
vi the new company, and that western
methods OF railroading will prevail.
"hlle the exact price paIl by the Chica-
go men is not known, it Is said to be about
he 1ar. 1S of h.,
Ter Oh the properties of the road We're dis
cussed at conference held today in the
auditorium annex. At this conference Mr.
Hlll, MIR. Ream, John X. Cowen president
of the Baltimore and Ohio; Oscar G. Muir
ray, receiver, and William NJ. Greene. gem
eral manager of the road, Were present
ihey We're IN conference until $50 o'clock
tonight, when Mr.. Hill left for St. Paul and
the Baltimore and Ohio officials for the
east.
Confirmed the Report
MI Ream when seen tonight declined to
be interviewed, but one of the Baltimore
and Ohio officials confirmed the report that
IN addition to the holdings OF ;he road
which the Rockefeller interests are report
ed to have obtained last week for western
hackers Of the road, Messrs Field, Armour
Ream and Hill, had obtained sufficient
stock to make Chicago and the west the
dominant element in the future manage
ment of the road.
President Cowen was not prepared to
make full statement until after he had
consulted with Mr.. Ream. Mr.. Hill would
not deny that Field. Armour and ReaIn had
assisted him in almost realizing his dream
of having a road from the Pacific to the
Atlantic controlled by western men. 1t is
scarcely six years ago that MIR. Hill said at
banquet in the West Hotel, Mime apolis
Il expect to live to see the day and to take
part when railroad rates will be so much
cheaper than water rates that water lines
will be practically obsolete