The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-18
CONFERENCE OF OFFICIALS.
Reports Concerning Sale of the Road
Confirmed nv Mr.. Bacon.

COnnrnleu ny bacon.
CINCINNATI, o.. Sept. 1.-THE Balti-
more & Ohio Railway officials arrived here
to-day from Chicago. the party including
Receivers John K. Cowen and Oscar G. Muir
ray, General Manager William NJ. Greene.
F. L. Wiltshire, NJ. w. Wilt, E. A. Walon
and George M. Shriver, of Baltimore. About
the same time, President Z. r. Bacon, Vice
President W. w. Peabody, John Walker and
other officials of the Baltimore & Ohio
Southwestern, arrived from New York. The
officials Of these sister lines were in close
conversation during the forenoon at the St.
Nicholas, and during the afternoon, at the
general offices of the Baltimore & Ohio
Southwestern. President Bacon made a
statement which confirmed the reports
about the sale of the road. but Receivers
Cowen and Murray insisted that they were
agents of the court for the custody and
operation of the railway, and not for it's
sale, and that they could not say anything
relating to future proceedings through the
court. They would neither affirm nor deny
the reports as to what was done iat the
meeting in Chicago yesterday.
This morning Mr.. Bacon was re-
luctant to discuss the matter, but after
being advised that it had been published in
Chicago, New York and this city, he said a
number of representative men identified
with large railway, manufacturing and
commercial interests in the Northwest Chi
cago, New York and other cities on the COM
panys line had been for some time ne
gotiating for the purchase of a very sub
stantial interest in the Baltimore & Ohio
road; that under the reorganization ample
means had been provided for cutting down
grades. increasing capacity and facilities of
the road and put it in condition to prompt
~ and economically handle largely increased
business; that the reorganization managers
had also decided that the subsidiary lines
including the Baltimore & Ohio Southwest
ern, should be likewise treated, and arrange
mentS 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
Mr.. Bacon was very reticent, but il is evil
dent that the control has been purchased.
and from what has been learned here and
much larger sum than $1O,000,000 has been
paid for it, and that the reorganization man
ayers and himself are the parties who have
made the negotiations. Mr. Bacon declined
manage the affairs of the company in the
future, but it is well known that they are
in close alliance with the owners, and
will undoubtedly be requested by them to
officially manage the company's affairs
receivers Cowen and Murray, President
Bacon, Vice President Peabody and others
remained in conference till evening, and
then joined in announcing that there was
nothing whatever to give out. Their confer
ences We're renewed again at the st. Nicho-
las tonight and may continue tomorrow.
Receiver Murray and General Manager
Greene leave tomorrow afternoon for a
tour of inspection over the transohio diVis-
ion of the Baltimore & Ohio system. Presi-
dent Bacon, Receiver Cowan and others will
leave Monday afternoon for the East and
President Bacon will, shortly after reaching
New York, sail for Europe. 1t is currently
reported that the trip of President Bacon
to London is for the purpose of comforting
with English interests in the proposed re-
organization of this trunk line.
The fact that none of the officials would
deny the story about the recent conference
in Chicago with Hill, Ream, Armour, Field
and others has given credence in railway
circles here TO the report that something
conferences, but there is every indication
here that the conferences to-day and to-
night were only with a view to completing
the estimates for the proposed improvement
of the Baltimore & Ohio Southwestern sys-
tenn. The receivers of the main line and
President Bacon and Vice President Pea
body. OF the Southwestern system, had ex-
perts with them going over figures for
changing grades and increasing the capaci-
~ and facilities of that system from Park
erSburc, on the Ohio river TO Cincinnati
Louisville. st. Louis and other points 1t
seems certain that the Southwestern system
is to receive great Improvements under the
plans Of reorganization and that the old
owners and officials are prominently identi-
fled with the new organization that has Sc
cured the property, but II does not seem
possible to ascertain whether ]. J,/iill and
others are to be such factors in 10 future