Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-18
B. { 0. R. R. SOLD,
t Passes Under the Control Of
Chicago Capitalists
A TRANSCONT|NENTAL LINE,
lanes ]. Hill, Of the Great Northern, the
DOminaiinSFactOr in Reorganization.
PRICE MORE THAN $4,000, 900.
Present Receivers In Close Alliance
with New Owners, and, IL is
Thought, VIII he Asked to Continue
20 Manage Company's Affairs.
PRICE MORE THAN $4,000, 600
O Manage Company's Affairs.

CHICAGO. September 1.-THE Times
Herald says:
Philip u. Armour. Marshall Field and
Norman e. Rcam have secured control
Of the Baltimore and Ohio railroad. They
have made James J. fIill. president Of the
Great Northern railway. the dominating
factor in the reorganization Of the sys-
tom. and have gained for Chicago and
tls Northwest what IS practically a trunk
line from ocean to ocean, controlled by
Chicago capitalists. The price paid is
rot known.
THE REPORT CONFIRMED.
CINCINNATI. O.. September 17.-Mr. F.
+ Bacon. president of the Baltimore and
Ohio Southwestern Railway Company.
who has been engaged for some time
with the New York Committee. Speyer
4 CO.. and Kuhn, Loeb & Co. bankers,
and the receivers. in assisting I'm the read
fustmeut Of the affairs OF the Baltimore
and Ohio Railroad Company. was in town
to-day, and was interviewed about the
purchase of the control of the Baltimore
and Ohio. road. He was reluctant to
discuss the matter. but after being ad-
v.sed that 1t had been published in Chi
cago. New York. and this city. he said
number Of representative men, Identified
with large railway, manufacturing, and
commercial interests in the Northwest
and In Chicago, New York. and other
cities on the companys 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 to sue
cessful conclusion; that under the re-
organization, ample means had been pro-
vided for cutting down grades, increasing
the capacity and facilities Of the road,
and putting it in condition to promptly
and economically handle the increased
business; that the reorganization man
ayers had also decided that the subsi-
diary lines, including the Baltimore and
Ohio Southwestern. should be likewise
treated, and the arrangements were now
being concluded to readjust the affairs of
such lines. and secure capital to put
them in the same condition as the main
line.
MORE THAN 100000 PAID.
Mr.. Bacon was very reticent, but 1t is
evident that the control has been pur-
chased. and from what has been learn
Sd here and through other sources, it is
certain that much larger sum than
NOO0O.C0O has been paid for it, and that
ne reorganization managers and him
Ielf are the parties who have made the
negotiations
NIr. Bacon declined to state whether tho
present receivers would manage the
affairs q the company in the future,
but IL is well known that they are in
close alliance with the new owners
and Will undoubtedly be requested by
them TO officially manage the company S
affairs.
BACON STATEMENT SEMI-OFFICIAL.
BALTIMORE. September III. II,
Maddy. the press agent of the Baltimore
and Ohio railroad, tonight said 10 a
representative of the Associated Press
that the statement made in Cincinnati
to-day by T.. II. Bacon, president OF
the Baltimore and Ohio Southwestern
road. is semi-oflicial. and added that no
further statement would be issued al
present. Receivers Cowen and Murray
are not expected TO reach Baltimore be-
fore Monday.
WHAT ARMOUR SAYS.
CHICAGO, September li--MI. Riihoui
said the line is not to be transconti'
mental line. but simply the Baltimore aho
ONO railroad. There is no deal concerned
with it relating to the lines between Mil
vaukee and Chicago
MR.. HILL NON-COMMITTAL
ST. PAUL MINI, September H.
President J. j. Hin. Of the Great North
Crn railroad. returned from Chicago TO-
DAY and made the following statement tC
an Associated Press representative re-
4 riding the Baltimore and Ohio reorgani
ation story:
ANY connection i may have with the
Baltimore aud Ohio is simply for the pur'
pose of putting that road on its ieet ahC
making il what IL was at one time, one ol
the most important roads in the country
Recently IL has failed TO such an eAlen,
that II was an incubus. Any intentioh
may have with regard to the BaitiniVI'
and Ohio has no connection win .n'
Great Northern; neither has the drea'
Northern or myself any connection WIFI
any railroad between ST. PAU ana Chi
cago: and, furthermore, / do not eApec'
20 have any such connection. some on'
who IS responsible for statements 10 ui'
contrary has an imagination that Is al
together too vivid. IT..
Further than this Mr.. Hill had nolniht
70 say regarding the matter.