The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-10
THE VAINDERBllTS
NOW IN CONTROL
Developments in Connection With Ac-
quirement of big Four.''
ATTITUDE OF PENNSYLVANIA.
Important Conferences with the YAM
dcrbi.ts-Dividcd Payments on
big Four" Common
Resumed.

Al the Vanderbilt Offices at the Grand
Central Station Monday several impor-
7ant meetings having relation TO the vari-
Gus plans for developing the Vanderbilt
systems were had. Only one of these
shat of the directors OF the Cleveland,
Cincinnati, Chicago and st. Louis ha1l-
way Eognpany-was formal. The DINERS
:. were in the nature OF conferences be-
tween the Messrs. Vanderbilt and those
who are nearest to them in developing
and concentrating their vast trunk-hne
plans. One Of the days results was the
resumption of dividend payments on lhe
common stock OF Big Four, which have
been suspended since 1873. aiter me
meeting of the board of this company,
its president, Melville Z. ingalls,, an
nounced that he was having prepared 4
declaration that corroborates all that mas
been said of the plans of the Nanderollts
in regard 10 .Big -Four" and Chesapeake
and Ohio On authority of the highest
class it can be stated that the Big
Four is wholly controlled by stockhoid-
ing by Vanderbilt interests and that at
the meeting of its directors yesterday
definite gllans were adopted for the joint
taking over by the Nand.srbilts and the
pennsylvania railroad of the Chesapeake
and Ohio The acquisition of Lake Eric
and Western by Lake Shore was also
discussed al the informal meetings. at
one of which President w II. Newman.
or Lake Shore. was present. Official an
nouncement of the deal is likely TO pc
made tomorrow
BIG -FOUR DIVIDEND.
OF The Big Four meeting all that was
announced for publication was that the
board had declared dividend for the
six months ended December 31st of IL
per cent, and that this could not be re-
carded as a semi annual dividend, which
il the prosperity of the big Four con-
tinued, the rate for the six months ending
June 3oth might be at the rate Of per
cent. per annum.
The earnings of the Three Cs Tor
six months showed Sl,120,009 net The d.
vdend on preferred. 3 per cent per an
nun, viii absorb S2500D0. and that on
common $4,000, SO that the surplus Will
b. $4,000.
: chesapeake and Ohio? Well, that has
NOT developed. Nothing done. All the
deals that are accomplished Or accom-
plishng are going TO be of advantage 10
stockholders. AS to myself, Said NJ.
ingalls,, Il am planning to retire from
railroad business. / have worked hard
and have been fortunate and ann at
time of life when a man should rest and
enjoy himself. l SHAH not be in a hurry
10 withdraw from the presidency OF the
Big Four and Chesapeake and ONO.
This may come in the course of a few
months. When / retire none of the IN
forests I have watched over Will suffer
through my withdrawing suddenly AS
10 the general railroad situation. the out
look is bright and there nerer was
time when the railroads exhibited a bet
ter disposition to maintain rates in entire
harmony
THE zvANDERBILTs SILENT.
other directors at the Big Four
meeting declined to discuss the proceed
ings, and there appeared TO have eeen d
pass it around policy agreed upon.
An official having intimate relations
with several of the Vanderbilt systems
said of the control of Lake Erie and
Western by Lake Shore: That deal was
arranged weeks ago at the Grand Central
Station at a snap meeting. An authorlz-
ed public statement may be MADE from
II meeting called together in just such
way No Lake Shore meeting has been
scheduled. so far as ] know.
PENNSYLNANIA'S ATTITUDE.
Another official having relations with
the big Four said:
What was announced as the outcome
of the meeting of the board to-day is
Very meagre report Of the proceedings
1t can be stated without fear OF contra
diction that very decisive action was
taken in regard to Chesapeake and Ohio
and its relations to Big -Four and PENN
sylvania. In fact, at this meeting and
the conferences every subject bearing on
the plans and development of the VAN
Gerbiit interests was considered, ana ms
various schemes are moving on the lines
indicated. Failures to announce results
should not be regarded as indicating
hitch in any plan. All that concerns Big
-Four and Chesapeake and Ohio will be
contaminated, and in due time will be
announced.
LAS TO the attitude Of Pennsylvania TO
Vanderbilt interests, take the recent pur
chases Of Chesapeake and Ohio stock in
the. interest of PENNSYLVANIA and the
Eanderbilts, and the purchase Of a block
of Baltimore and Ohio stock by Pennsyl-
vx,lia ana the general plan of division
OF Vanderbilt and Pennsylvania Interests
with perfect understanding and comfy
is better understood. Developments in
the near future Will establish the terri
torial jurisdiction of each system. IT
may be accepted as part Of the general
plan that Chesapeake and Ohio's head
quarters will be at Philadelphia while
Big -Four will. for a time at least, De
run independently
GEN. THOMAS STATEMENT.
General Samuel Thomas, who is a direc-
tor of Lake Erie and Western. said:
The control Of Lake Erie and Western
hy Lake shore is as good as officially an
nounced The Vanderbilt people hold the
designations Of all the Lake Eric ana
Western officials who Will go out and
could fill alp a board at once.
Wall street gossip yesterday named as
new directors o! the Lake Erie and West
ern ]. Pierpont Morgan, W K and r;