Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1900-02-01
Evening Telegraph. Jan. sotn.

" . d.
Philadelphia Evening Telegraph, Jan. soth.
''That sl3, 900, 600 stock issue by the
Pennsylvania railroad would be $685.
coo, 600 today IL 1T had been made
popular affair and not confined to
stockholders to the extent of 10 per cent
of their holdines,' said q Pennsyl-
vania official this morning. at has
been one Of the most wonderful things
in the history of the road, and shows
what great standing Pennsylvania has
IN the opinion of the public.''
The last day for taking advantage
Of the new Sl3, 600 stock issue was
Saturday, January Goth, but the trea-
surer department has not YET been able
to make up report on the subscrip-
tions, as business and mail have ac-
cumulated to such an extent as to
make report impossible before Feb
ruary 10th. Much remains yet to be
attended to. ,E
eve have had as high as 16, 200 un-
opened letters in the back vsults,n said
an official in the treasGrer's department
today, and are working day and night
to catch up. Some letters contain in
auiries respecting the new stock issue,
but the most Of them hold checks to
is entitled to take up in the new stock
issue, and some 90 way beyond. with
the latter we just send back the differ
ence on what they are entitled to and
the amount over and above, as the
ruling of the directors has been strictly
adhered to. arG
London holders of Pennsylvania
have been heard from slightly; that is,
first mails fiom abroad bring a few re-
sponses, but the heavy mail is now due,
and we shall soon know what our LON
don agent has to say. There remain
still come 6,000 letters to open by local
subsci ibers, and it will be quite i'm
possible to say before February 18th
where the reports stand. There may
be statement by that time, probably
not before February Goth. 1t takes
time to handle matter like this, and
besides 1t has been the first of its
kind in 10 years. T"
The capital stock of Pennsylvania,
with the new issue, now aggregates
Sac, 233, $50, and the shares now mum.
Der 2, 844, 677, at $50 par. The capital
stock before the allotment was $780,
BOB, 300, covering 2,586,070 shares. IL
has been evident to the Pennsylvania
management for some weeks that, un-
less held absolutely within the lines,
the extent of the issue would be sub
scribed more than double, and the
clerks waiting upon the Thousands of
callers we've kept busy explaining the
statement of the board of directors of
December 18th that not more than 10
per cent Of the holdings could be taken
up in the new issue. There has, doubt
less, boon much disappointment, but
the situation was a condition that
could not be otherwise and had to be
stock named-S5s, GOT shares.
Touching the disposition of the 3d..
600, 600 resulting from the new stock
issue. it was stated by prominent
Official at Broad street station today
that no statement would be made at
this time, although one has been ex.
peoted from President Cassatt. There
are some extensive improvements to be
made over the system, such as the con-
struction of new $1,000, 900 station
and grade crossings in Pittsburg, and
certain water front improvements at
jersey City, together with new
$3.50, 900 station at Wilmington, the
plans for which are ready, but IL is
held that the taking UP Of 100, 600
shares of stock in the Chesapeake
& Ohio calls for large expenditure in
in that direction.
Pennsylvania interest in both Chess
apeake 4 Ohio and Baltimore & Ohio
is en- the line Of better schedule in
freight rates and to STOP the cutting
that has proved SO disastrous in recent
years. The New York Central and
Pennsy lvanls are said to be united in
this respect, and the cod to rate-cutting
has come. Pennsylvania has a traffic
agreement with the Norfolk q Western
and Chesapeake d Ohio, the Southern
Mail being one Of the results Of this
agreement, but this agreement, it is
stated, will now extend to the freight
and commercial ends of the systems In
VOWED.
Pennsylvania relations in New
England will remain as heretofore"
was the statement of Pennsy
official today, and that means that the
passenger and freight traffic sgi cement
with the New York, New Haven &
Hartford, the famous Consolidated,
will continue unbroken. Pennsylvania
great fast express trains between Wash
iDgton and Boston, the Colonial and
Federal going round New York from
jersey City to Astoria on the steamer
Maryland, are the leading flyers, with
the Bay State express over the CONSOLE
dated.