The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-09-17
Phil Armour, Marshall Field
and Jim Hill
Have Secured Control of the
Baltimore & Ohio.
THE BIG RAILROAD
Will Be Part of Great Trunk
Line
From Ocean to Ocean With the
Northern Pacific.

Chicago, Sept. 1.-THE Times-Herald
says:
Philip d. Armour, Marshall Field and
Norman B. Ream have secured control
of the Baltimore & Ohio railway. They
have James J. Hill, president of the
Great Northern railway, the dOminat-
ing factor in the reorganization of the
system and have gained for Chicago
and the northwest what is practically
trunk line from ocean to ocean con-
trolled by Chicago capital
Mr. Ream engineered the deal by
which his wealth, that of Mr.. Hill and
of NIessrs. Armour and Field gained a
controlling interest in the Baltimore &
Ohio, which hereafter is to be a Chicago
enterprise fed and sustained in trans
continental affairs by the immense
mileage of the Great Northern railway.
If any road completes the gap between
the terminus of the Great Northern
railway in St. Paul the terminus of the
Baltimore & Ohio in Chicago it will be
the Chicago Great Western railway but
that is a matter for the future.
More About the Deal.
Cincinnati, o., Sept. 17.-Mr. E. R.
Bacon president of the Baltimore &
Ohio, Southwestern Railway. company,
who has been engaged for some tfma
with the New York committee, Speyer
& Co., and Kuhn. LOab & Co, bankers,
and the receivers, in assisting in the re-
adjustment of the affairs of the Balti-
more & Ohio Railroad company was in
town today and was interviewed about
the purchase of the control of the Bal
timore & Ohio road. He was reluctant
to discuss the matter but after being
advised that it has been published in
Non Y al III ,sAr h.
said a number of representative men
interested with large railway, manufac-
turing and commercial interests in the
northwest, Chicago, New York and
other cities on the cOmpany's line had
been for sometime negotiating for the
purchase OF a very substantial interest
in the Baltimore & Ohio road, and that
such negotiations had been brought TO
a successful conclusion.
That under the reorganization ample
means had been provided for cutting
down grades, increasing capacity and
facilities of the road and putting it in
a condition to promptly and ecOnOmt-
cally handle largely increased business.
That the reorganization managers had
also decided that the subsidiary lines,
including the Baltimore & Ohio South
western, should be likewise treated and
arrangements were now being cOnclud-
ed to readjuSt the affairs of such lines
and secure capital to put them in
the same condition as the main line.
Mr.. Bacon was very reticent, but it is
evident Iildl the COnlIOl mas Deen puI-
chased, and from what has been learned
here and through other sources, it is
certain that a much larger sum than
$4,000, 900 had been paid for it and that
the reorganization managers and him
self are the parties who have made the
negotiations.
Mr.. Bacon declined to state whether
the present receivers would manage the
affairs of the company in the future,
but it is we'll known that they are in
close alliance with the new owners, and
will undoubtedly be requested by them
to officially manage the company's af-
fairs.