New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-30
MORE TALK ABOUT ALTON.
JOHN j. MITCHELL AGAIN IN THIS
CITY
HE RESUMES HIS CONFERENCES WITH e. II
HARRIMAN-BELIEF THAT THE SALE
OF THE ROAD WILL SOON
RE ANNOUNCED.
BE ANNOUNCED

Since the return to Chicago about ten days ago.
Of John J. Mitchell president Of the Illinois Trust
and Savings Bank. who was In the city for several
days at that time and held conferences with vari
Gus fnanciers in regard to the sale Of the Chicago
and Alton Railroad, the controlling interest In
which he was believed TO have been authorized to
represent in the negotiations. little or nothing was
heard about the Alton until yesterday when II was
learned that Mr.. Mitchell again In New-fork.
having arrived here Wednesday night. and had
resumed his conferences with f.. II. Hartman,
who represented important interests In the Union
Pacific and is also identified with Vanderbilt and
Gould interests. and who said at the time that the
negotiations for the purchase OF the road nan Deeh
intrusted to himself When Mr. Mitchell started
for the West 1t generally understood that the
Alton road would in all probability he purchased
by a syndicate OF banks and bankers, among them
being mentioned the First National and Chase
National banks and the firms OF Cuyler. Morgan *
Co and Kuhn Loeb & Co. OF this city, HamDleton
e. Co.. OF Baltimore. and Norman b. Ream' OF Chi-
cago This syndicate It added, was acting IN
the interest Of several Western roads, including
the Missouri Pacific. the Union Pacific the Illinois
Central and possibly also the Kansas city. PITTS
burg and Gulf 1t being the plan to operate the
Alton as an independent road in the common inter-
est OF all the systems named. II is known that
after the conference yesterday at the Union racine
Offices between Messrs. Mitchell and Hartman
there was a conference there OF lawyers represent
ally believed in Wall Street that during Mr.
Mitchels present stay in this city the negotiations
for the sale Of the Alton the syndicate for ac-
count of the railroads referred to- Will be dehntely
completod and that. the announcement of the
transaction will soon be made
The Chicago and Alton has been reported SOFA
several times since 1t first known TO be In the
market five or six weeks ago. The Kansas City'
Pittsburg and Gulf Railroad, which by acquiring
The Alton would get an outlet Chicago for its
line running between Kansas City and the Gun OF
Mexico. was first reported 10 be negotiating LOT S
Tho Alton Then the Vanderbilts were sald 70 De
treaing for it, as it's possession would enable them
70 extend their system of Eastern lines no" terilI-
mating al Chicago to Kansas City, where conhec--
lion could be made with the Kansas City branch OF
Inc Union Pacific Then the GOulds were SAID 20
be anxious to buy the road which. running between
81 Louis and Chicago. would give an entrance
into the latter city 10 the Missouri Pacific system
ard the Union Pacific also. In which the Wander
bts have large holdings was at one time sald 10
be negotiating for acquisition OF the line All these
reports were denied but the fact seems 10 be thai
the Alton will soon pass into the joint controI
Of all the roads which have been seVerally men
toned from time time It's prospective purcnas-
ers, the Illinois Central being associated with tnem
in the transaction.