Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-08
With THE RAILROADS.
The Pennsylvania Purchase Of
N. &%W. and C. q 0. Stocks.
An Authoritative Statement OF What the
Deals Mean Coal Prices Under the
Control of the Railroads Notos Gath.
cred Here and There.

Captain John p. Green, first vice.
president of the Pennsylvania railroad,
has given out further confirmation of
the report that the company had in
vested largely In the stock Of the Nor
mcnt that 100000 shares of preferred
and the same amount Of common stock
had already been bought Is, he said, an
eNaggeratlon. Yet 1t Is evident that
the purchase Is sufficiently large to
warrant the belief that the Pennsylva-
MIA will exercise an important influ.
ence on the future policy OF the Vir
GINA company.
The Pennsylvania was, said Captain
Green, largely impelled to make the in
vestment by the favorable outlook for
the export trade. and the important
position that the Norfolk and Western
Will hold in that trade. 1--WE are" he
said, interested in the Chesapeake and
Ohio railroad. which is the same gem
eral field as the Norfolk and Western.
IL the past the two roads, as they have
come close together have naturally
rubbed against each other and doubt
less Will in the future. But we want
to see that the competition Is sensible
ert our influence to have the two COM
panies work tremendously.
The outlook for the export bltumin-
Gus coal trade is very bright, and In 1t
these two roads will take an important
part England has come to find herself
out of the contest. Her mining is deep,
and In many other ways we have the
advantage. We are already seeing the
beginning. and the business in the near
future will undoubtedly be large. These
two roads should do Il great part of the
carrying. The Chesapeake and Ohio OPP
crates the New River district in West
Virginia, and the Kanawha district,
while the Norfolk and Western operates
the Pocahontas district. Both are fine
Goals: the veins are thick and easily
mined. The roads have superb har-
bors, and are altogether favorably sit
uated. The Northern companies have,
OF course, n very large home demand.
80 that 1t Is natural TO believe that the
Norfolk and Western and the Chesa-
peake and Ohio will play very import
ant part In supplying the demand from
the other side OF the ocean.
THE Norfolk and Western has issued
100000, 900 of stock, and. of course, the
Pennsylvania has not bought Il con-
trolling interest. nor has 1t bought 20
per cent. of the stock II cannot die
tnte the future policy, nor can 1t pre-
vent them from doing SO. We will en-
future conservative and wise. The road
Is now admirably managed,Sa there
Will, of course, be no change in the
general officers as q result of this pur-
chase. Whether or not the PennSylVa-
MIA railroad will be represented on the
directorate remains to be seen. The
matter has not thus far been consider
ed"
Yesterdays Richmond Dispatch says:
Goal prices are now absolutely under
the control OF the railroads." said a
prominent railway official yesterday.
THAT Is one result OF the recent acqu.-
etion by the Pennsylvania OF large
holdings in the Baltimore and Ohio.
Chesapeake and Ohio, and Norfolk and
Western. The Pennsylvania also con-
trolls now all the coal-carrying roads of
Pennsylvania. If you will look at the
map you Will see there is not n coal
field east of the Mississippi, of any i'm
portance, which Is not tapped by n line
dominated by the Pennsylvania. Even
away down III Alabama the Southern.
the Louisville and Nashville and other
Morgan roads do the coal carrying. OF
course this was one of the objects of
the combination. l think it likely, how
ever, that the general public has not
fully realized it,"
The following comparative statement
OF the gross earnings of the Chesa-
peakc and Ohio for the, fourth quarter
of March has been issued: For 1890,
S400452.76: 1899, $685., 99i.T2: increase,
s65.45S.0i. For the month Of March,
$780, S1,0S6. t3069; 1899. 81 007, 4S2.76: in
crease $2S.657.93.
The connecting link between the old
Seaboard Air Line and the Florida Cen
trail and Peninsular from Cheraw, S. c..
to Columbia. has been completed. and
freight service is now being operated
Passenger trains will he running on the
2Sth instant This makes about twelve
miles between Richmond and Peters
burg all that is lacking to connect
Richmond and Tampa by means OF n
single through line. The work on the
viaduct through Richmond is three
quarters done.
The Southern railway makes the
will declare excursion rates for the
eclipse of the sun on May 2Sth. The
line of totality strikes the Southern at
Norfolk, and follows the line all the
way to New Orleans. A rate of cents
mile for the round trip has been de-
clared or the application of parties
representing colleges or scientific or
ganizations for ten or more persons
travelling on one ticket.
CARD FROM w. ]. BEASLEY.
Blackstone, Va, April 7th 1900.
To the Editor of the Virginia-Pilot:
Tn ref,ttotf NJ tho ,.,,r,or. opd ra-