The Calhoun chronicle. [volume] (Grantsville, W. Va.) 1883-1984, 1901-11-12
THE BIG DEAL CONSUMATED.
l.. h X. II. Passes Into Posses
sion of Gould System.
PURCHASE MONEY PAID.
Road Will be Extended and In
dependent Trunk Line
Assured.

time has been finally clnsumatrd.
and the balance of the purchase pric,
paid in full.
Negotiations were concluded yester
day Afternoon, and the fact was -
stated to a News reporter by MIR. II. c
jackson, formerly president of thu
road, and lately one OF the receivers
o! this property, who was also one at
The largest stockholders in the com
pany. The statement was made H.
the presence OF Mr. j. T. Blair, of
Greenville, Pa, one of the gentlemen
who have held an option on the road
for some time.
MIR. Jackson stated that the road
had been sold and that the best inter
est of Parkershurg had been consider
cd i'm making the sale Further than
this he would say little, aud declined
to make known the terms upon which
the deal had been concluded. He
would not say what parties had Sc.
cured the line, other than that tn,
purchase had been made through Mr..
Blair, and Mr. Il. +. Fulton, of Un.
iontown la, the two men who have
held an option on the purchase for
several months.
From other sources, however, which
are perfectly reliable, the News fully
verified all the statements which
have been previously published in ilS
columns concerning the sale of the
road. The road was purchased for
the Gould Elkns-Davis syndicate,
and the object of the purchase is the
establishment Of an independent trunk
line across West Virginia extending
from Gloucester Point, Va, mt the
mouth of the York river, across Nir-
gina, West Virginia, and Ohio, and
connecting with the great Wabash,
(Gould) system, at Chicago. The l..
X. r. r. VIII he extended from lis
I resent terminus above Elizabeth.
Writ county, To connect with the
West Va, Central, at Behngton.
From there on through Virginia t.
the terminus, a number Of other short
lines Of railroad, which have already
been secured by the syndicate, will
be connected through, forming line
that is more direct than the presnt Il
d o. road, which VIII be extended to
Toledo, at which point the Wabash
now has all extension to Chicago.
AS before stated the price paid for
the l.. X r. r., was $3.50 900. OIL
this amount 500, 600, was paid on the
10Th OF last month to bind the bar.
gain, the balance Of the amount was
paid over Thursday, through the
Citizens Trust and Guaranty Com.
pany Of ,hio city. All, that now
remains be done is the formality
of having the transaction approved
by the court.
a News reporter saw Mr.. v 3. |
Archer, who was the attorney for the |
H. X H. r., as well as one Of the |
heaviest stockholders, and talked |
with him regarding the sale Of the
road Mr.. Archer said: The in.
terests held in the Little Kanawha
Railroad by the tour principle stock
holders, A B. White, II b. Nye, of
H. 9. jackson, and my.
self, which comprise a majority Of all
the stock Of the road, has been sold;
aud from the proceeds of the sale, have
been paid all the debts owed by the
road There BE- uotan obligation now
against the road in any form; and
this has been done without asking
the counties Of Wood and Writ,
which hold stock in the road, to sac
luNe Ntut 10 Ahtil lulNIt0ls liAe l
stock was not touched; and the coun-
ties own their stock iu exactly the .
same way, and under the same coudi. /
ton as the company which has bought /
the major interest ! will not say .
who Nill develop the road, but ] f.
will say that was never more posi- .
tive iu my life than that the
T. *. r.. r.. vii be extended not
only through the Liltle Kanawha
Valley, but will be a part Of one of
lhe greatest railroad systems 100 the
country Tie men who are backing
this enterprise have absolutely uu.
limited facilities as regards capita.
] can't imagine condition thai could
arise now that could stop the building
aud completion OF The road
Mr.. Archer further stated that
there would be 800 unnecessary delay
in beginning the work of extending
the line aud that ho believed that the
cor1ulction at the road wilI be the