The times. [volume] (Richmond, Va.) 1890-1903, 1898-09-18
It Has Been Bought by Phil Armour
and Other Capitalists.
SYSTEM WILL Be ReORGANlZEO.
VIII BE Practically u Trunk Line
From Ocean 90 ocean Controlled
By Chicago Capitaiists-Prcsi-
dent Bacon Rcticcnt.

IT p
Great Northern Railway tho dominating
factor ln the reorganization ~ the sys-
ten. and have gained Tor tho Chicago
and Northwest what is practically
trunk line from ocean 90 ocean controlled
by Chicago capitalists. The price pald
g. not known.
CINCINNATI O.. sept. 11.-The Balt-
moro and Ohi, railroad officials ar
rived here to-day from Chicago the party
Including Receivers John X. cowen and
oscar Murray. General Manager William
Green. r. w. wiltshire. ". q. Watson
end George ~. Shcrvicr Baltimore
About the same time President T.. X
Bacon. Vice-prcsiGcnt ". W. Peabody
John Walker and other officials OF the
Baltimore and Ohio Southwestern. ar
rived from New York
OFFICIALS IL CONFERENCE.
The officials OF these sister limos were
IN close conference during the forenoon
at the 81 Nicholas and during the altel-
noon at the general offices OF the balti-
more and Ohio southwestern. Presl-
dent Bacon made a statement which con-
nrrned the reports about the sale Of the
road but receivers Cowcn and Murray
insisted that they We're agents or the
court for tho custody Of operation OF
the railway and not for IT'S sale ana that
they could not say anything regarding
the recent sale or the future manage
1ncnt or anything relating 20 future pro-
ceedings through the court. They would
neither affirm nor deny the reports as
20 what was done 40 the meeting 81
Chicago yesterday
PRACTICALLY ADMITS IT.
NJ l. r. Bacon. president OF tho BAL
tlrnore and ohio Southwestern Railway
Company who has been cngaged Tor
rome time with the New York committee.
spevor a. Co.. and Kuhn, Loeb g. Co.
bankers. and the receivers, in assisting
In the readiustment OF tho affairs OF tho
Baltimore and Ohio Railroad Company,
was iu town to-day. and was interviewed
nbout the purchase of The control of inc
Baltimore and Ohio road. he was re-
iuctant 10 discuss The matter. but after
being advised that 10 had been published
IN Chicago. New York and this city. he
said a number OF representative men
identified with large railway. manuiac-
turing and commercial interests IN tho
Northwest. Chicago. New York and other
cities on tho company's line. had been
for some time negotiating for the pur-
chase OF a very substantial interest In
the Baltimore and Ohio road. and that
such negotiations had been brought 20
successful conclusion That under the re-
organization ample means had been pro-
vided for cutting down grades increasing
capacity and facilities OF the road. and
putting in condition TO promptly and
economically handle the Increased husi-
ness That The reorganization managers
had also decided that the subsidiary lines,
including the baltimore and Ohio South
western should be likowiss treated. and
arrangements were now being concluded
90 readiuaf the affairs of such lines ana
secure capital 20 put thcm I'm tho same
condition as the main line.
SIR. BACON RErlCENT.
Mr.. Bacon was very rctlcent. but 81 IS
evident that the control has been pur-
Co.. Ia. ...|f
here and through other sources 70 is cer-
tain that a. much larger sum than $1,000
600 has been paid for it, and that the re-
organization managers and himself are
the parties who have made the negotia-
lions Mr. Bacon declined % state wheth-
or the present receivers would manage
the affairs Of the company On the future.
but 81 SIS wcil-known that they are in
close alliance with the new owners and
viii undoubtedly be rQuested by them 10
officially manage the company affairs.
NOTHING TO SAY.
Receivers Cowsn and Murray. President
Bacon. Vice-Pres ident Peabody and 9TH
ers remained an conference ull evening
and then an Joined 800 announcing that
there was nothing whatever 10 give out.
Their conferences were renewed again
81 the ST. Nicholas Hotel Tonight and
may continue tomorrow. President Ba-
con will shortly sail for Europe. 1t IS
currently reported that The trip OF Pres
ident Bacon 90 London is for the pur-
pose of comforting with English inter
nsts IN the proposed reorganization OF
this trunk line
SEMI-OFFICIAL
BALTIMORE. Sept III IT, Maddy
the press agent OF the Baltimore and
Ohio railroad. tonight said 90 a repre-
tentative Of the Associated Press that the
statement made in Cincinnati to-day by
a. K Bacon president OF the Baltimore
and Ohio Southwestern is semi-ofhciai
and added that TO further statement
would be issued az present. Receivers
Cowon and Murray are not expected 10
reach Baltimore before Monday.
TO RESTORE 1T.
ST PAUL. MINI. sept lt-Fresluehl
III Hin. Of the Great Northern ralTodu'
returned from Chicago to-day and MADE
the following statement 10 an Associated
Press representative regarding the baiu-
more and Ohio reorganization story;
"Anv connection ! may have with the
Baltimore and Ohio Is simply for the pur-
nose OF putting that road on it's feet and
making it what 10 was az one time-one
OF the most important roads IN the couh-
trv Recently II has failed 10 such an eX-
tent that IL was an incumbus. Any inten-
ZION / may have with regard 20 the Ralu-
more and Ohio has no connection with the
Great Northern. neither has the Great
Northern or myself any connection with
any railroad between ST. Paul ana Chica-
go and furthermore neither do I expect
10 have any such connection. Some one
who Is responsible for statements to the
contrary has an Imagination that IS al
together too vivid
Further than this Mr.. Hi had dothing
20 say regarding the matter.
MILWAUKEE WIS. sept I.-Phihp ID.
Armour was here to-day attending the
annual meeting OF the directors Of the
Chicaro. Milwaukee and 81. Paul Rail-
road Company. and practically confirmed
Tho reports that he I'm company with j.
j. 300 Marshal Field and Norman b.
Ream bad secured @ controlling interest
in tho Baltimore and Ohio railroad. Mr..
Armour said:
81 dislike 90 say anything on this mat
ter now. 70 is very delicate As you must
understand. There S. however some
Foundation FOR tho report sent out from
Chicago yesterday"
'How about the reference made 10 the
Chicago and Great Western and the Wis
cousin Central as uniting roads between
the Baltimore and Ohio and Great North
ern7' ne was asked
Positively no consideration has been
given 90 either road vet I cannot say