Marietta daily leader. (Marietta, Ohio) 1895-1906, 1898-09-23
COWEN'S VIEWS.
Meaning Of the Big Purchase of B.
& O. Stock.

|
an early hour this morning, notwith-
standing his tiresome railroad trip of
yesterday. To a News reporter he
talked at some length about the recent
deal, by which large portion of the
stock of the road goes to the we'll
known Western capitalists, Hill, Ar
mour, Ream, Field and others.
You must understand in the first
place." said Mr.. Cowen, that this is
not entirely my news to give out. 1t
belongs to the reorganization COM
mittee, and it was thought Mr. E. R.
Bacon that the first important state
ments were made. Mr.. Bacon is a
member of the reorganization COM
mittee, and had great deal to do with
the disposition of the stock. / am not
at liberty to state the price paid for
the bulk of the stock, what interests
were sold, nor the actual purchasers
further that those already given out
by Mr. Bacon. These facts, if they
come out at all, will have to come
from the speyers,'
Will Dominate 1t.
Mr.. Cowen was asked whether the
control of the road had passed into the
hands of these new capitalists, but he
declined to answer the question def
nitely. Instead of doing so he ills
trated.
THE Vanderbilts do not own the
New York Central for instance" he
said, but there is no question but
what they completely dominate it.
Whether or not the new investors
own controlling interest, no one who
knows them will doubt for a minute
that they will pretty well dominate it.
Every small stockholder should be
glad, and probably is glad, if he is
posted, that such men as Hill and
Field and the others have come into
the Baltimore and Ohio.
What 1t Means.
Think what it means. 1t is that
these, among the most astute railroad
men Of this country, with all their
wealth and their influence and exper-
ience, have looked into the Baltimore
and Ohio as piece of property, have
examined it carefully and have deter
mined that it can be turned into a div
idend payer. They have faith in the
reorganization committee, and if I
may be permitted to say so, in the
management of the road. Understand
these gentlemen are buying the stock
of the road, not it's bonds, though
presume some of them have in the
course of their financial transaction
acquired some of the bonds, too, but
it is the common stock OF the road
which these gentlemen have bought.
They have stacked their dollars in
with the belief that the road will win
out in the vernacular. In other
words, that it will lecome dividend
payer.
Not The Only Buyers.
These holders of the common stock
of the B. & o. will be the strongest
who have ever held it. They are all
railroad giants and will infuse new
life into the property. Nor are the
four whose names are mentioned, Hill,
Field, Armour and Ream, the only
ones who have bought into the road.
The stock, l can say, has been iudic-
iously distributed all along the road
where it would do the most good.
Other influential men are interested in
the deal. They have bought stock and
have lAe advancement Of the roads
interes, at heart. No, cannot say
where or to whom this stock has been
sold, but it will all appear in good
time
The recent transaction has been
the realization of my hopes about the
future of the road. II is in line with
everything l had planned"
Reorganization Prospects.
When asked when the reorganiza-
tion should now be completed, Mr..
Cowen said:
We'll, / should say in few months,
possibly three or four. There are a
great many details to arrange about the
foreclosure of course. The suits are
not worrying US much. l don't think
anyone is particularly afraid of their
outcome. ! think that in few
months the entire reorganization will
be entirely affected.
"As to the new directory, l can only
speak, of course, in general terms.
The new interest will, of course, be
represented. 1t is natural tina they