Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1898-09-18

MAKE 1T PART OF A TRUNK LINE
FROM OCEAN TO oCEAN-A SEMI
OFFICIAL STATEMENT OF THE
BIG DEAL.-ROAD TO BE PUT INTO.
THE BEST PHYSICAL CONDITION.
HEADQUARTERS OF MANAGE
MENT MAY BE REMOVED TO CHI
| CAGo-P R e ENT RECEIVERS
| WILL PROBABLY BE RETAINED
| TO MANAGE THE PROPERTY.
Chicago September 17.-The Times
| Herald says: Philip d. Armour, Mar
shall Field and Norman B. Ream have
secured control of the Baltimore and
Ohio railroad. Tney have made James
] j. Hill, President of une Great North
| ern railroad, the dominating factor in
| the reorganization Of the system and
| have gained for Cnicago and The North
west what is practically trunk line
| from ocean to ocean, controlled by
| Chicago capital.
MIR. Learn engineered the deal by
which his wealth, mat OF Mr.. Hill and
| of Messrs Armour and Field gained a
F.! controlling interest in the Baltimore
ard Ohio, which hereafter is to be a
| Chicago enterprise, fed and sustained
| in tranScOntinental affairs by the I'M
mense mileage of the Great Northern
! railway. III any road completes the gap
| between the terminus OF the Great
| Northern railway in St. Paul and the
! terminus of the Baltimore and Ohio in
| Chicogo, it will be the Chicago Great
| Western railway, but that is matter
| for the future.
| Although authoritative announcement
| of such a transaction is withheld, the
reported railroad deal connecting James
| J. Hill, of the Great Northern railway,
and prominent Chicago men with the
! reorganization of the Baltimore and
| Ohio road is credited in some quarters
| Norman B. Ream was the only inter-
eSted representative in the city as the
members of the conference held yester-
| day had left Chicago late last night
| Mr.. Ream did not venture to affirm the
current reports, but man IN close
| touch with him said to an interviewer:
He is head over heels in railroad mat
| tiers. It may be accepted that there is
something in the reports or Mr.. Ream
would not devote so much OF his time
to the subject"
An official of THE Baltimore and Ohio
said that Mr.. Hill would be identified
with the reorganization Of the road,
| but that the combination between the
B. & o. and Great Northern in order
to create a thorough trunk line from
coast to coast, was matter OF no dis
/ tant future.
Cincinnati, September 16.-Mr. E. R.
| Bacon. President Of the Baltimore q
Ohio Southwestern Railway Company,
who has been engaged for some time
with the New York committee, Speyer
& Co., and Kuhn, Loeb & Co, bank
ers. and the receivers, in assisting in
the readjustment Of the affairs of the
Baltimore & Ohio Railroad Company,
was in town to-day and was interview
ed about the purchase of the control of
the Baltimore & Ohio road. He was
reluctant to discuss the matter, but af-
ter being advised that it had been pub
! lished in Chicago, New York and this
city. he said a number of representa-
tive men identified with large railway
| manufacturing and commercial inter-
| ests in the Northwest, Chicago, New
! York and O.her cities on the company
| line. had been for some time negOtiat-
| ing for the purchase of a very substan-
! tial interest in the Baltimore & Ohio
road, aid that such negotiations had
| been brought to a successful conclu-
| sion; that under the reorganization
ample means had been provided for
| cutting down grades, increasing ca
| pacity and facilities of the road and
! putting it in a condition to promptly
and economically handle largely in
creased business; that the reorganiza-
| ton managers had also decided that
the subsidiary lines, including the
Baltimore & Chic Southwestern, should
| be likewise treated and arrangements
were now being concluded to readjust
the affairs of such lines and secure
capital to put them in the same condl-
ton as the main line.
Mr.. Bacon was very reticent, but 1t
is evident that the control has been
purchased, and from what has been
| learned here and through other sources,
| it is certain that much larger sum
| than 500 900 has been paid for it,
and that the reorganization managers
and himself 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 comDanye
| affairs.
Baltimore, Md, September 1.-THE
statement that the control Of the Balti-
| more and Ohio railway system is about