Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1900-06-07
VANDERBILT PENNSYLVANIA DEAL
New York Central and Pennsylvania to
Control Lehigh Valley and Baltimore
81 Ohio and Pennsylvania May
Absorb Jersey Central.

The vastly important changes which are
being rapidly effected in the eastern rail-
road situation by reason of the harmo-
NOUS action of the Vanderbilt and Penn
sylvania Interests in striving to dominate
the anthracite and bituminous coal trade
through the acquiring of control of nu-
merous properties, are just coming to be
recognized by the public, although out
lined in these columns more than a year
ago. says the United states Investor.
The latest move is seen in the acquiring
control of the Lehigh Valley by the Van
dcrbilts in conjunction with the Pennsyl-
vana to secure control of the Jersey Cen
trail in conjunction with the Baltimore d
ohio, which, it is said. will take that por-
ton of the property between Bound Brook
and Jersey city, over which tracks it has
for years reached New York iarbor
1t Is well known fact Mr. VIM. X.
Vanderbilt was one of the syndicate which
was organized to secure control OF the
Packer estate holdings of Lehigh Valley
stock and place same in the hands of }.
+. Morgan d Co. 1t is this block of stock
which carries with it the control of the
property. With the road in the hands Of
the Morgan Vanderbilt syndicate the adj
vent of Alfred Walter as president began
and continues much to the dissatisfaction
of great many people, among them, Mr..
Vanderbilt, it is said.
Mr.. Vanderbilt, who is credited with
having something over 100000 in the
property, has recently, ! am told. given
the other members of the syndicate to
understand that unless change of
management occurred soon he would sell
out his interest. The result OF this pro-
test is beginning to be seen and as was
anticipated in these columns some three
weeks ago. the Lehigh Valley has now
passed into the Nanderblt-Penn ylvania
syndicate. which, in other words means
N~lr
ny with the Pennsylvania railroad.
The securing of this control was effected
by the purchase of 66,oI shares of Lchigh
Valley stock, for which S32 - per share
was paid or s2,46400. This. it is under
stood, is the Packer estate stock.
WHO WILL BE PRESIDENT
With the carrying out of the wishes OF
Mr.. Vanderbilt il is more than likely we
shall see Mr.. Alfred Walters resignation Is
president accepted. and u strictly Wander
hilt man elected to succeed him. How
would the stockholders like to see such
man as President Fowler of the Ontario Il
Western at the head of Lehsh Valley?
Such a change is by no means impossible
In fact IL is probable. and only those weIl
acquainted with the Fowler management
of the Ontario * Western and Thoroughly
conversant with the acknowledgement Of
Lchigh Valley, can even begin to realize
what economies would result from such
change.
With The Jersey Central property west
of the Delaware river in control of Penn
syiVania and Lehigh Valley operated by
the syndicate mentioned, the running of
Improbable and unnecessary trains for
nearly 20o miles side by side with those OF
Jersey Central would be stopped and her
economies introduced. which would result
in large savings to Lehigh Valley stock
holders.
Iehish Valleys Improbable through
passenger business will. as soon as the
road Is bought under Vanderbilt control,
be modified and instead of attempting to
compete in this direction with Erie and
Iackawanna it will tend its energies more
in the direction of increasing its tonnage
of through ana local freight ana it's out
put of coal, The bookkeeping of Lehigh
Valley, under such a president as MIR.
Fowler. would receive the drastic over
hauling which 1t has so long deserved.