The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1900-12-17

was perfectly feasible. To make II
practicable he would have to enter
upon a route and secure a charter for
II before any one could put any OBJ
stacles in the way Of It,
Arriving at his office at $50 p. m. he
called In his son and three of his clerks
and as the court house bell tolled six
the Hawley and Eastern Railroad com.
pany was a reality and messenger
was on the way to the home of Mr..
Fuller's civil engineer to bring him to
the office at once, while a telephone
message to his attorneys Office bade
him not to go home till Mr.. Fuller had
seen him.
The surveyors were at work the next
morning and the survey was completed
with all due haste. The papers were
being drawn up in the meantime and
at the moment the engineers blue print
was ready, the attorney was off to
Harrisburg for q charter. He secured
1t without difficulty. and from the mo-
ment 1t was granted the new road pro-
jectors didn't need to care a fig which
way the Supreme court made its de-
cision. Mr.. Fuller was for proceeding
to provide the missing link by means
of the Hawley and Eastern. but Vice.
President Thorne counseled waiting the
decision of the Supreme court, feeling
confident OF victory.
THE ROAD STRENGTHENED.
The Erie and Wyoming in the mean
time had been Strengthening it's road,
strengthening its bridges. enlarging it's
yard facilities at Winners Dunmore
and Avoca. building a network of
branches to connect up the new COL
lieries that would soon be tributary to
1t, and erecting large and expensive
shops at No. 6. In anticipation of the
extension to tldewater, which would be
an accomplished fact. as it was then
viewed, before the cold weather set in
next year.
That the carriers also believed the
new road was inevitable If heroic
measures We're not taken to defeat it,
was evidenced by the fact that two
months ago, in the hope of weaving
away enough of the independents to
discourage the new road builders from
their project, came out with an offer
OF uniform 65 per cent rate. an IRON
clad agreement regulating the supply
OF cars and an equally binding stipu-
lation, very favorable in it's terms, re-
garding the independents share in the
output allotment.
But the bait failed the independents
remained true to the new road, and the
carriers We're forced to resort to other
means.
1t was thought to buy out a lot Of
the independents, but as they were not
to be won away from the Pennsylvania
company. which had gone to a tremend-
GUS expense to carry out the scheme in
which all were alike allied. only one
course remained open, and that was to
buy out the Pennsylvania company.
DEEMED TMPRACTICABLE
This was, at first, deemed imprac-
ticable, as the stock was so high priced
and widely scattered. 1t was believed
that the existing fancy figure would
go way up out of possible reach the
moment the negotiations for it's pur-
chase should begin, but after a month
of dickering. controlling block of
the stock was gotten together by the
directors and larger stockholders, and
transferred to Morgan & Co. at what
was mutually agreed was fair mar
ket price, $552 share, or $27 600. 900 for
the whole property The same figure
was publicly offered the small share
holders and it is understood many of
them are following the lead of the
larger ones. by disposing of their hold
ings at a profit of $500 share and
piece of the S11,OOOOO0 held in the
treasury. The deal was consummated
last Tuesday night
The individual operators are per-
fectly satisfied with the sale of the
Pennsylvania company. They are
now free to accept the 60 per cent. Of
fer of the big carriers. This was all
they We're to get from the new road
and this was all they asked for.
Some Of them are decidedly well
pleased at the turn in affairs as they
are receiving only 90 per cent-the old
rate-anC would have to be content to
sell them coal for per cent. less than
was being offered until such time as
the new road was completed. because
they could only take advantage of the
65 per cent. offer of the big companies
by subscribing to Il long term con-
tract. Their allegiance to the new
road under such circumstances is truly
commendable.
The contracts with the independents
now in possession of the Pennsylvania
Coal company are to be returned to
them. This will leave them free TO
deal with any company they choose.