New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-11-18
RAILROAD INTERESTS.
r. AND o. REORGANIZATION
ALL OBSTACLES REMOVED RY SALE OF PTRl
PREFERRED STOCK


Baltimore Nov 1.-THE LAST obstacle TO tho ~
organization OF the Baltimore and ohio Railroad
Company has been removed by the sale Of the first
preferred stock OF the company. pooled with the
Mercantile Trust and Deposit company. OF Bait
more by the Johns Hopkins University. State OF
Maryland and others The purchasers are the
managers Of the New-York Reorganization Com
mttee. The bargain has been closed. and the stock
will be delivered at once The suits pending in the
United States Court IN Baltimore and the Supreme
Court OF the United States. growing Oh; Of dis
pute the status OF the stock. Will he discon-
tinued and TIE reorganization pushed with all pos
sible haste.
The negotiations conducted by General
John GIL. president Of the Mercantile Trust and
Deposit Company. OF this d;y. and were consum-
mated in New-York yesterday The deal has been
in progress Tor about two months. The number o.
shares pooled with the Mercantile Trust and De
post Company twenty-five thousand. out OF a
total OF thirty thousand shares. The other hvc
thousand shares had already assen'od 10 the terms
offered In the plan OF reorganization ana the noio
crs Jared much than those whose stock is In
clud,d IN the sale just consummated.
The second preferred stock has disO accepted the
plan OF reorganization. and the plan may now De
said TO have the approval OF practically every issue
OF stock and bonds. The Johns hopkins University
Was the largest individual holder OF the hr;t pre-,
thousand shares OF the thirty thousand shares
issued. The remaining twenty thousand shares
individual Investors
The stockholders OF The company will hold their
v
electing a new Board Of Directors. 10 servo for
the ensuing year. The stock. rather the
certificates OF the Mercantile Trust COMPANY or
New YORK representing the new stock. Will be
voted At this meeting by he nve trustees named
| In the plan OF reorganization.
It is Understood ,ha, few II any, OF the members
Of the present Board will be reelected. The new
| directors Will be selected by the Reorsan zstfon
Committee and the majority % them VIII be East
| ern stockholders. though local stockholders VIII
| have representation. will also the Hl-Armour-
| Ream- Field syndicate. which recently acquired a
| large interest In the properly.
II Is said thai the directors chosen ~ the NEST
| ing Will serve after the reorganization IL consrrn
mated. 1t is reported that James j. lIiil has been
| heavy buyer OF Baltimore and ONO common ard
| preferred in the New-York market recently. for
| the purpose OF strengthening his position ~ rho
| meeting next Monday. The retiring directors viii
| hold their last meeting tomorrow. and Will rp
| prove the annual report 20 DO submitted - he
stockholders.
The statements made in the above dispatch w.rs
said yesterday afternoon by Mr. Solomon. ~
Speyer & Co. the reorganization managers. 20 bs
| Substantially correct"
NEW FAST MAIL TRAIN FROM sT. LOUIS
| Columbus ONO Nov 1.-THE Ponnsyl,s MA sys-
| TEN will on Sunday inauGurate rev fas:
| mail train from 81 Louis TO New-Ior< which will
carry sleeping and dining The tsin will
| leave 81. Louis daily az 2.i5 a. arriving tho fol
| lowing morning a. 80 o'clock breaking AL rec
ords for time across the Contra States The run r.
| scheduled hour faster than the sylvania
| Limited II will make tho run IN rom ave 10 sN
10 give the various State capitals another fast run
| he