New-York tribune., 1900-05-06

before Friday.
The acquisition of the Long Island Railroad by
the Pennsylvania is fraught with great impor-
tance TO the transportation interests of New
York and Long Island. The Pennsylvania off,
cials who effected a mastery stroke in acquir-
ing control of this property. have been close
mouthed in regard to their plans, but certain
statements have been made which would indi-
cate that the plans under consideration are of
widespread Importance and interest. The rela-
zion sought to be established between the right
granted the New-York Connecting Railroad
Company to build bridge over Randalfs Island
thus connecting the New-York Central and the
Long Island and the Pennsylvania purchase OF
the Long Island Railroad would seem, however,
to be not intimate. It is known that the Penn
sylvania Railroad has little no interest in the
connecting railway. but that the New-York Cen
trail is interested to great extent In that prop
erty. The Pennsylvania. IL is said does not
contemplate the of this road in any way.
The New-York Central. however. for its freight
and passenger business viii find the connection
valua BILE, and will when the bridge is constructed
be in a position to secure from the Long Island
a traffic agreement that will be eminently salts
factory.
AS told in The Tribune. the New York Central
has never had any desire to own the Long
across Randalls Island and connect the Long
Island Railroad and the New-York Central the
New-Yorll Central interests began to inquire into
the condition of the Long Island Railroad in
order to ascertain just what traffic arrangement
could be made.
About the time this plan was under way it
is understood the Pennsylvania interests which
have recently been exceedingly active and de-
veloped to a wonderful degree the great Amer
lean policy of expansion. began to take notice
of what was going in the Long Island terri
tory. The relations between the Pennsylvania
and the New-York Central at present are of the
most cordial kind In fact. they jointly pur-
chased the Chesapeake and Ohio Railroad, and
in ali traffic matters they stand together.
CONSULTED THE CENTRAL.
The Central officials were asked if they in
tended to buy the Long Island and the reply
was frank negative. The Pennsylvania, how
ever saw where a great advantage would
crue to their own property by the acquisition of
the Long Island, but under the copartnership
arrangement. so to speak. with the New-York
Central the Pennsylvania was not in a position
to go in and get the property without consulta-
ton with the New York Central As a result
an agreement was reached which thor
oughIy satisfactory to all concerned, by which
the Pennsylvania to acquire the Long ISL
and and the New York Central was to receive
consideration in the way of satisfactory traffic
agreement.
With this understanding the Pennsy ylvana in
terests began 10 acquire Long Island stock.
Some of it was bought in the open market but
more acquired at private sale. Some prom
fnent New-York Central people. knowing of this
plan also joined issue with the Pennsylvania
and secured come of the stock, but the holdings
so secured can be safely counted as Pennsyl-
vania stock it is declared. il will be voted
with Pennsylvania holdings. 1t is possible it is
said that the New-York Central will receive
representation upon the Board of Directors
when the Board is reorganized. but that is in
definite yet
The plans of the Pennsylvania. that
control Of the Long Island has been secured, are
said to be sweeping in importance. 1t is declared
that the purchase of the Long Island is only
the first step in a gigantic plan of the Penn
syIvania for getting additional terminals in this
borough and for securing extensive terminals,
freight yards and depots in Brooklyn. The plan
under consideration now, it is said contem-
plates the construction Of a tunnel under the
North River TO Manhattan, adequate sta
ton here somewhere downtown. then another
tunnel under the East River 10 Brooklyn where
the tunnel will emerge and make connection
with the Long Island tracks. The plan further