Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-02
PRESIDENT COW EN-
Explains the Basis Upon Which Re-
ports of Sales Have Been Founded.
Higher Rates III Contemplation. :.


BALTIMORE, Nd. December 1.-Johp
K. Cowen, president of the Baltimore &
Ohio Railroad Co, said last night that he
did not think the rumors about sales, COM
binations, etc, were specifically worth de-
nying. Continuing, he said; The time
has come when the competing railroads
fully recognize the disasters that ensue
by luminous scramble for business.
Freight and passenger tariffs are smashed
and business Is carried on In a wildcat
manner. Mr.. Fink described the disturb
ances created by rate cutting when he said
that the whole passenger tariff was dis
turbed in order to get a passenger and
three-quarters of passenger out of Louis
vile.
The presidents Of the several competing
railroads recognizing the necessity OF ar
irving at some plan by which there could
be fair return for investments In railroad
property. and besides that there has been
in an increased price OF all articles used
by railroads without a corresponding in
crease In rates, we decided on a new clas-
sihcauon Of rates-that Is. to transfer to
the classified list certain articles or com
mod4ties on which a special or lower rate
has been placed than when those articles
belonged to the classified list For one
reason or another these commodities which
belong to what is known as the commodity
list, have been taken out Of the classified
list. To restore these commodities to the
classified list IS our object and hence all Of
these rumors and al this talk about rail-
road sales. consultations, etc.
Within the last few months there has
been an advance In al articles which en-
ter into railroad equipment and mainte-
nance. Labor Is higher. In al Of the in
creased business due to the prosperous
times the railroads have derived no other
advantage than an increase ia the volume
of business. There has been no increase
in rates to meet the increase in expenses.
II am thoroughly convinced that this era
Of prosperity viii continue and that the
railroads-that is investors in railroad
property viii. under the arrangement we
propose, secure their share Of the prosper
ity.'
ST. PAUL, MINI, December L--Presl-
deent Hin. Of the Great Northern, known
to be a heavy holder Of Baltimore & Ohio
stock, places little creGence IN the reports
that the Pennsylvania railroad had Sc
cured control Of the p. e. o. He says:
During the past month there have been
transfers Of individual holdings of stocks
for the most part involving 70 large
blocks. The reports which have been cur
rent regarding transfer Of any consider
able amount Of stock have little TO rec
omrnend them as true."
PHILADELPHIA, December I-Inqufr-
les made to-day al the Office Of A. J. Cas-
satt, president Of the Pennsylvania rail-
road, ELECTED statement denying the re-
port that the Baltimore & OHIO had been
absorbed by tbe Pennsylvania railroad.
The facts a. learned at Mr. Cszsatts office
are as follows:
There Is no truth in the reports which
have found their origin in this r0nor that
J. Pierpou< Morgan, VIM. K Vanderbilt
and A. J. Csgsatt have combined to take
the control Of the eastern railroad stt1ia-
ton into their own hands. The declaration
that the Pennsylvania railroad has absorb
ed the 3. & o. IS absurd as would be the
declaration that the New York Central
had absorbed the Pennsyiv ANA The facts
as they exist are 70 be found IN the denial
Of the rumor made yesterday By John X.
coweu, president OF the 3. & o.