New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-01-11
MAY CONTROL NEW-HAVEN
REPORTED OFFER OF W. X WANDER
BILT FOR THE SYSTEM
RUMOR THAT HE BEGAN NEGOTIATIONS
BEFORE STARTING ON HIS TRIP-A
GUARANTEE OF PER CENT ON
THE CAPITAL. STOCK MEN


TIONhL. IT is SAID.
William K. Vanderbilt, on his return from a
two months cruise to Mediterranean points
which he began his steam yacht Valiant on
Monday. may complete another colossal
achievement in railway financiering. the first
steps of which. it was said last night were en-
tered upon a few days before Mr.. Vanderbilt
sailed director of the New-York, New-Ha-
ven and Hartford Railroad Company is believed
to have taken TO New-Haven and Boston
Saturday last informal offer from Mr.. Van
derbilt which indicates that the New-York
New-Haven and Hartf system may become
later a part of the NJ York Central system.
Mr.. Vanderbilt told the director. it is said. that
any close observer should have trouble in
noting the tendency of railway consolidation
movements in the trunk line territory east Of
the Mississippi and north of the Ohio River.
They meant that the Central system was in po-
sitfon to dominate the Eastern situation, and
would do So and that it might be advantageous
for the New York, New-Haven and Hartford
directors to consider liberal offer from those
in control of the Central. This director. whose
influence with his associates in the Board is a
potent one. said that If the offer were large
enough it would be kindly considered and he
asked what the Connecticut and Boston people
might expect. 1t was suggested that guaran
VI SNCcAN AAACAAN
considered. That is far as the conference
advanced, 1t is said, and the director went away
to talk it over with his friends in New-England.
with the conviction that such an arrangement
would be favorably regarded by the Rockefeller
and Morgan interests in the road
IN BOTH COMPANIES.
The fact that j. Pierpont Morgan and Will
lam Rockefeller are directors of both the New
York Central and the New-Haven is regarded
signifying that the important interests rep
resented by them would not be averse to a plan
for bringing the two roads into close relations
on terms not disadvantageous to the New
Haven The latter company covers the entire
field Of Southern New-England. but its direc-
tors cannot fail to have noted the trend of rail
way affairs in the Eastern States, which in the
minds of we'll informed observers points TO the
ultimate control by the New-York Central Of
ali the New England roads. A year or two
ago the Vanderbilt interests secured control Of
the Rutland Railroad the plans for the extension
and development of which have not yet, how
ever, been fully worked out. Within the last
fortnight the stockholders of the New-YOrk Cen
trail and the Boston and Albany have ratified the
action of their respective boards of directors in
making a long lease of the Boston and Albany
to the Central, although the lease cannot be-
come operative until sanctioned by the General
Court Of Massachusetts a sanction which is op-
posed by the Massachusetts State Commission
ers for the Fitchburg Railroad stock on the
ground that the lease may be hurtful the
interests of the Fitchburg road The Fitchburg
which at one time seemed likely to come under
Vanderbilt control. is in negotiation with
the Boston and Maine with the object of having
the latter road lease 1t. The Boston and Maine
already virtually owns the Maine Central and
If it secures the Fitchburg, step which would
cut of the Rutland road from its hope of OBJ
tanning a Boston connection, it is believed in
Wall Street that the Boston and Maine itself
would before long be taken into the New-York
Central system.
CURRENT ONLY RECENTLY
Rumors that such move was in contempla-
ton were current only recently, to be denied by
the president of the Boston and Maine but its
execution is believed in this city to be only
question Of time. The New-York. New-Haven
and Hartford system operates a total of 1 464
miles, made up of All miles of track owned by
the company, 1925 miles of leased lines and %
miles of line operated under trackage arrange
ments.
Through securing control OF a large number
of formerly independent roads-the most fmpor-
tant being the Old Colony Railroad system,
which in February, 1893, Ii leased for ninety
nine years, and the New England Railroad Com
pany ninety-nine year lease Of which IT eff
fected on July l. 1S9S-the New-Haven company
whole southern part of New England. It's ter
minal arrangements st this end of the line, how
ever are not believed to be satisfactory it's
management could desire, for while II has eX-
tensve and valuable freight terminals at Nor
ris Dock near the junction of the Harlem River
and Long Island Sound 1t is dependent upon the
New-York Central system for a direct entrance
into New-York City for It's passenger traffic, its
trains using the tracks of the New-YOrk and
Harlem road for the twelve miles from Wood
lawn Junction, the western end of the New
Haven line. to the Grand Central Station. This
fact 1t is pointed out. may be an added consider
alton tending dispose the stockholders of the
New-York, New-HaVen and Hartford TO look
with favor upon such proposition as that
which Mr. Vanderbilt is said TO have in mind
for submission TO them.
The stock of the New-YOrk, New-Haven and
Hartford Railroad Company is an per cent
19S and 222 It is inactive stock" and the
most recent quotation for IT Is IA bid, III asked
A New-HaVen stockholder Of the road in con-
yersation with The Tribune reporter last night
at the Waldorf, said:
'.The absorption is coming sure enough. and
IFS coming in a hurry. l believe that if Mr..
Vanderbilt suggested per cent guarantee
as the price of the New-HaVen shares the Cen
trail people would get the system in the course
OF a few months. The per cent guarantee
would make the shares exceedingly valuable to
nut away while the years roll by, as the Cen
traI would be in position, through evil we'll
as through good report, TO make good the guar
antee."
arrangement yesterday. President Galloway is
ont of the city and Senator Depew will not re-
turn to New-York from Washington till to-
morrow.