Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-09
RAILROAD NEWS
Recent Big Deals in Norfolk &
Western Stock
Is Psrt OF tho GoncrnI vanderbi,,
Pennsylvanin Scheme Three
ssookhoiders Mco,,ns. in Ru,eign
Wednesday Adjourned over.

In connection with the rumored sale
OF large blocks Of Norfolk and West
ern railroad stock recently to parties
who purchased in the interest OF the
Pennsylvania Railroad Company, the
following from the New York Herald
VIII be read with interest by the people
of this city and section:
1t is the plan of Pennsylvania rail-
road interests and their allies, as rep
resented by President a. ]. Cassatt, to
obtain n voice in the management Of
the Norfolk and Western Railway.
This is a part Of the general Wander
Dllt-Pennsylvania scheme, which has
Tor IT'S object an alliance of all the
ullrnads of the East having seaboard
terminal, whereby the Eastern rate Sit
uation Will be 50 securely held in the
hands of the dominant interests that
railroad wars will be impossible, no
matter what may be the moves made
by the Pennsylvania and Vanderbilt
lines.
There is good authority for the state
ment that the Pennsylvania interests
have been buyers of Norfolk and West
ern common stock in the open market
for some time. They have bought large
blocks OF 1t around S25 per share. Wall
street interests, however have become
cognizant of this demand for the stock.
and have recently forced the price up
to n higher level. Yesterday the Penn
sylvania contingent apparently raised
Its figures, and, on spirited buying.
3Sorfuffs common ran UP Ito 29lA
1t was the most active stock in the
NJ -y,o ch,,
ing hand. Much of the selling was by
London houses, on order from abroad,
where large amounts Of both common
and preferred shares. as we'll as Of the
companys bonds, have been held.
This scheme of the Pennsylvania
Vanderbilt interest to reach into south
ern and bitumionous coal territory has
been shown by the action of the Cas-
satt contingent in buying in the BaltI-
more and Ohio Chesapeake and Ohio
properties. Large amounts of the
shares of both of these companies were
purchased by the Pennsylvania peo-
pie, largely in the open market. They
bought persistently, but so quickly that
no one knew what they were doing
until their purchases were completed
Already one Pennsylvania Railroad
man, Vice-President S. NJ. Provost, has
gone into the Baltimore and Ohio direc-
toratc, and another will soon be elect
ed. The Pennsylvania voice will then
be powerful in Baltimore and Ohio af-
fairs. Already M. T.. ingalls, has re-
signed the Chesapeake and Ohio Presi-
dency, and George w. Stevens, n
Pennsylvania selection, has been elect
sed to that position. Several Penn
sylvanin men will soon go into that
company's directorate. Another ac-
complishment of the Cassatt contingent
was getting control of the Western New
York and Pennsylvania Railroad.
Control of the situation in the Penn
sylvania-B Baltimore ard Ohio-Chesa-
peake and Ohio territory could not be
complete as long as the Norfolk and
Western remained at large. The prop
erty is practically the key of the soft
coal situation, running through the
bituminous sections of Ohio West Vir-
ginin and into North Carolina It runs
from Norfolk and Newport News, Va,
to Columbus. o., and has an important
branch through the Shenandoah Val
ley to Hagerstown, Md. It connects
with . the Pennsylvania at Newpor,