Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-12-21
MINORITY HOLDERS OF W. N.
VIII Get $40 a Share For Their
Stock in That Road.
NEGOTIATIONS RECENTLY CLOSED
Figure is Same Col. du Points
Friends Received.


Their Sale of Controlling Interest Over "a
Year Ago Excited Cr,t,oi.m-Now an Arr
raugement has ijeen Made Under which
Tho Holders Of RemaininG G,0OO or 1000
shares May Receive the same Price.
' When in October. 1893. Col. Henry A.
. An pont, president of tho Wilmington
Q * Northern railroad. and the directors
!. nf the road sold controlling interest
II 10 that road TO the Reading company,
10 the minority stockholders who wore not
t. DO fortunats rs to be protected by the
ID president and given the same privilege,
IS which he had, in disrosing of their
ID tock, felt that they had been wronged.
Of Il seemed to them that the president Of
The road was in the position Of trustee
Il, Tor all the property, and ms such that
ny be should mt be more anxious for the
II. kuod of one stakeholder above another
ut 1As consequence Of his action in The
're PROMISES, much unfavorahle comment
WAS made Today. the Gazette has
an. he pleasure of announcing that all the
lie BnInority Stockholders may now enjoy
md he same return for their stock as Col.
lu Pont and his friends did something
DRY vcr year ago An arrangement has
10. been made with the PHILADELPHIA &
3D. bnay dispose OF his or her stocis for
was i 10 share.
The Wilmington & Northern railroad
las 25,561 shares of stock. of which tho
ght = Philadelphia g. Reading Go secured
lred omething like 14,000 in the original
iird transaction of the autumn of 1898.
The Ahout that time conflicting rumors
zero heard as to the disposition of the
rted road. all three of the large railroad cor
H. ha Iba lrn hn alt
such pore 4 Ohio and the Philadelphia &
snc. Beading being mentioned as the posi-
hich lie purchaser. Finally on October 10Th.
,fore &hr Reading Co. gave out statement
was announcing that it was the purchaser.
first hat company was organized after the
PIPER foreclosure of the general mortgage of
he Philadelphia & Reading to hold the
by took of the Philadelphia Il Reading,
were HE Philadelphia Coal and Iron Co and
must thor companies composing the Reading
utes. ystem. Previous to that time, the Will
Il be. Ellington 4 Northern and the Philadel-
treet hia 4 Reading had had traffic agree
If the unent under which the former used the
YES on racks of the latter in and through the
ity Of Reading, the actual terminus of
20 he Wilmington & Northern being at
,n,,b. Iigh's Gut several miles below Read
IN the Il u,s h,I;ora,, ~ tho +;, a -,
yadedy o,;,s ~ i,at a., s..i. u'u snt
nnIta
,i G he Philadelphia & Reading had ac-
y Ia uired u valuable property when ii So
~ n h In" ured the control of the Wilmington &
y un" Northern. In addition to giving the
'u IKE Heading short line to the south,
|, n n,oa Trough the Baltimore e. Ohio eonnec-
~ ions, the road has large independent
business of its own The extensive
= Me- Fater front on the Delaware, which goes
! ma, it'll the property, will also give the
otVn obi At,
~ ia mo to come.
a and i, Ia rs has already been said, the action o.
"a oS' ma FOL- du Pont and the directors in dis
q .omsn losing of the control of the road in tn,
~, nrd anner stated, caused a good deal o.
w. a. in ritlcism. Thoy had left out all the
!. ~ bsdI, tuckholders who had declined or re
lsed to support the colonel in his adj
Nd NOR illustration. Since that time, tn,
having 49, 81 u , u %. ioass a ~, y
=! wa WV. Kurtz, Charles S. Whelen ant
a. nm amuel Bancroft, Jr., and it is Learned
n nod nat sale has heen effected, by whicl
oioa,o very outstanding stockbolder at tn
,itb ii resent time will have the opportunit.
-, r." t,cnM sell his or her stock, il they desir
Il do so, ut the same price for whicl
Dc president and directors and thei
lends sold their stock. This was "a
'urponn{ share
ding the minority Stockholders. A gen
burns eman, familiar with the circumstance
~, anl pd conditions, said to the Gazett
er ID " porter that he would advise an
" tatha der to take the present price. TIL
to deall pal was Just completed within da
the ny two, and circular is being prepare
'hlch he sent to the minority holders, coy
IS say - ling the points involved.
There is no doubt that the Readn
20 oil ihoad have secured valuable acqui
ing ~ lion to their property, and that tn
toe mu ice at which they have acquired tn
sell ork is cheap to the railroad, especial
nder the present conditions of trade.
secGn' Before the sale of the controllin
IN he'p crest Of the Wilmington & Northern
stock was held mt SIG or 81 share
led nee that sale, there has been n
venue al ftivity in the stock. Now the holder!
I'd in d no were left out in the cold in til
an it vi rst transaction, will be able to secui
,ay that equal benefit with tho majorit
"a faui pdeis.
use fled Since the control Of the road passe
ly reach 10 the hands of the Reading the maj
cement Of tho road has been taken Il
Trough tho Philadelphia Office of the Iarg'
been 81 rporation, although the Wilmingtc
Mrs ice is continued.