Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-10-27
WILMINGTON & NORTHERN
Majority of Its Stock Bought by
the Reading Railroad Co.
POSSIBLY OVER $4,000 SHARES
No Change in Officers or En-
ployes at Present.
The Prevention OF the Road or It's Control
From Passing Into tho Bsnds OF the Penn
syivania or Some Other Interest Antaro-
nistic to she Reading One OF the Primary
Objects Of Making tho Purchase.

The Reading Co. gave out the fol-
lowing statement in Philadelphia yes
terday afternoon week:
1.-THE conflicting rumors relative to
the purchase Of majority of the stock
of the Wilmington & Northern railroad
were set ARREST this afternoon. 1t turns
out that the Reading Co. is the pur-
chaser. The Wilmington & Northern
was originally the Wilmington & Read
ing railroad. After the foreclosure of
the Wilmington g. Reading mortgage
and also of the mortgage Of the Berks
county railroad (which was company
organized in the interest Of the Will
mington & Reading railroad) the Will
mington Il Northern was organized and
traffic arrangement entered into, be-
tween the old Philadelphia & Reading
railroad and the Wilmington & North
ern, under which they practically be-
came part of the same system. The
Wilmington & Northern used the tracks
of the Reading in and through the city
of Reading. The actual terminus of
the Wilmington & Northern is at High s
Cut, several miles below Reading. No
material change, therefore, is made in
the railroad situation; but by the
acquisition Of this property, the Read
ing obtains freer and fuller control Of
the line and will be enabled to operate
1t to greater advantage in connection
with its own system, and no doubt gives
greater facilities to the business in
terests along its lines. The Wilmington
& Northern railroad has valuable termi-
nails in the city of Wilmington, includ-
ing wharves on the Delaware. All
these terminals will be very advan-
tageous to the Reading system.
1T is stated that for the present no
change will be made in the officers or
employees. -
The Reading company, the purchaser
Of the Wilmington & Northern stock,
is the company which was organized
after the foreclosure of the general
mortgage of the Philadelphia & Read
ing railroad, to hold the stock Of the
present Philadelphia & Reading Rail-
way Co., the Philadelphia Coal and
Iron Co. and of the other companies
composing the Reading system.
An official of the Reading Railway
Co. in speaking about the purchase
yesterday, said that one of the primary
objects In securing control of the Will
mington q Northern was to prevent the
road or its control from passing into
the hands of the Pennsylvania railroad
or some other interests antagonistic te
the Reading, and keeping it out of the
city Of Wilmington. That city j:
looked upon as very important place
from railroad standpoint, and every
effort will be made to secure large
share Of its business for the Reading
people. The acquisition of the Will
mington & Northern also gives tn,
Reading a short outlet to the South
for its anthracite coal via the Balti-
more & Ohio, with which connection i,
made at Wilmington. The extensiv,
water front on the Delaware River
which goes with the property, will ais,
enable the Reading at some futur,
time to establish large coal wharves
considerable distance down the river
This, however, it was said by Reading
officials, is not contemplated at present
as nothing would be gained by trans
ferring the present excellent coal ter
minal at Port Richmond to poin
further down the river.
Just how many OF the %, 561 share
OF the capital stock of the Wilmington
d Northern railroad the Reading com
pany was obliged to purchase could no
be ascertained, but it is generally sup
posed that fully A14,000, and possibl
more shares were secured, as it
known that beside looking after hi
own interests, Col. Henry A. du Pont
the president, was loyal to those o
his friends who have supported hir
in the management of the road. Tn
price paid is supposed to have been i
the neighborhood of $40 per share.