Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-09-22
CONFIRMED BY ]. K. COVEN
Statement from Him Concern.
ing the 3. & o. Railroad Deal.
THE STOCK IN STRONG HANDS
Personnel of the New pirec.
tory Not Settled.
The senior Receiver says the Progress Of
the Reorganization VIII Not be Affected
In tho slightest Degree : No Attempt to
Form a Railroad Combination.

Baltimore, Md, Sept. 20. Receiver
John X. Cowen arrived in Baltimore
from Chicago early this morning, In
reply to questions, Mr. Cowe !,,t said:
verv large interest in the Baltimore &
Ohio. has been purchased by Messrs.
Field. Hill, Ream and Armour, as we'll
as other influential interests. As to
those concerned and the amount Of
their purchase the reorganization
managers can only answer.
1t is difficult to define control.
The class of men who have become in.
terested in the property is of char
acter that would exercise dominating
influence. With them the stock of the
Baltimore & Ohio is in stronger hands
than ever before In its history. They
are strong factors in the business world
and their interest in the road will be
decided advantage to the property.
Anything that will improve the
Baltimore & Ohio railroad will by the
very nature of the case benefit Bslti.
more, as this city is its chief terminus.
The talk OF moving the general Offices
and Mt. Glare shops from Baltimore 10
all moonshine.
1.-THE progress Of the reorganization
of the property will not be affected in
the slightest. Foreclosure proceedings
and the legal formalities will be
pushed, and MS soon as these are settled
the organization of the new company
will be completed The new interests
went into the property on the basis Of
the plan of reorganization. They looked
carefully over the field, and, believing
the interest in the road to be first
class investment, purchased it. The
question as to the personnel of the new
directory will be settled hereafter, ant
the new interests will be largely repre-
sented.
"Their purchase Of the stock doe
not mean any railroad combination. l
does not mean trans-contlnenta
system in connection with the Grea
Northern. What it does mean is tn
fullest development Of the Baltimore |
! Ohio railroad. The road will not b
tied to any road in the Northwest, bu
! will continue to deal with all roads an
take business wherever it is found
,, The policy of betterments will be car
ried out and the maximum traffic Anne
after by providing the best facilitie
for handling the business.
: Receiver Murray and General Mana
!, ger Greene, who were in Chicago wit
Mr.. Cowen, are still in the West. A
!. soon as the reorganization of the pa
timore e. Ohio Is completed, the wor
,. of recognizing the Baltimore & OH
y Southwestern will be undertaken. Tn
y road is an important factor in the.
: & o. system, and it is understood TIL
y its president, i. r. Bacon, was Z
y active figure in the negotiations whit
. brought into the Baltimore & Oh
!. the influential Western interests.
n 1T is also understood that tho pu
p chase of stock in the BaltimoroS oh
}. made by the Northwestern capitalist
10 who have been named, and others
equal Importance, whose names ha
ID not been mentioned, was largely fro
Of the reorganization managers, and
r, itself docs not represent the actr
!, control of the property. The reorgal
J. cation mana ,ers, including such
le banking concerns as Speyer d Co. a
e. Kuhn, Loeb & Co. OF New York, a
le Speyer Bros. & Co. of London, wi
III the strong financial interests they re
m resent, will, it is learned, continue
v important factors in the company, a
ne the practical effect of the deal brir
a into cooperation with them the |
ditional important influences in
j. financial and business world rep
n sented by the Chicago and Nor
a western capitalists. n
es
as NH, MURRAY ALSO CONFIRMS TT.
ed Columbus, o., Sept. 20. Oscar
Murray, co-receiver of the Baltimore
Tt Ohio railroad, passed through I
II, city yesterday in his private car.
he confirmed tho statement made by e.
at Bacon. president of the Baltimore
mt Ohio Southwestern railroad, regard
iai the sale Of large interest in the L
timore & Ohio road to syndicate +
,ty resented by Mossrs. Hill, Ream, III
II. and Armour.
en --->--
err err FIRE NEAR SYRACUSE.