Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-04-12
WHEELING I LAKE ERIE.
SALE TO THE MISSOURI PACIFIC
APPEARS TO HAVE BEEN
CONFIRMED.


ADVANTAGES TO WHEELING
VIII be Appnrent-GeorEe Gould and
Russell sage Arc Said to Have
Conducted the Negetfations-Thc
CouIds v-Sll Not Part with the
WabaAh System, But Will Extend
Into Eastera Territory.
There appears tt, be no longer any
&c .,bt about the purchase Of the Wheel
Ing & Lake Erie railroad by George
J. Gould and others, in the interest Of
the Missouri Pacific system. The
transfer means a great deal to Wheel
ing, and the following advices from
New Yosk concerning the sale will be
found interesting:
George ]. Gould and some of his
Missouri Pacific associates, including
Russell Sage, have bought the wheel
ing & Lake Erie Railroad. This pur-
chase was made in the interest of the
Missouri Pacific system to which 1t will
afford an Eastern outlet via the Wa
bash Railroad directly to Pittsburg,
and possibly, by means of additional
construction, to the Atlantic seaboard.
The Wheeling & Lake Erie owns the
Toledo belt line, which will establish
a close connection with the Wabash
Railroad in Toledo.
Russell Sage said yesterday that it
was true that the Gould interests had
bought the Wheeling 6 Lake Erie. but
ne did not care to anticipate an offic-
ial announcement of the fact by CIV
sing any particulars.
A strong belief has prevailed for sew
eral days that the Wheeling & Lake
Erie would 60 to the Goulds. Mr..
Washington E. Conner, formerly
partner of Jay Gould, has been for a
long time one of the most influential
directors of that road. There is two
fold significance in the Gould acquisi-
ton Of this property; one is that the
Goulds do not intend to part with the
Wabash Railroad and the other is that
the Gould system is to be extended into
Eastern territory. Mr.. Sage intimat-
ed yesterday that there was to be some
new railway construction in connection
with the taking over Of the Wheeling
& Lake Erie.
The total mileage of the Wheeling &
Lake Erie lines is about 400 The main
line extends from Toledo to Terminal
Junction, Ohio, distance OF PIT miles.
A twelve-nile branch runs to Huron,
and another branch runs to Steuoen-
VILE o. The company was reorganized
III 1899, and at that time 1t acquired the
Toledo Belt Line In the city of Toledo
the Cleveland, Canton and Southern
ralfway, the Cleveland Belt and Ter
minai railway and the Coshocton and
Southern railway Negotiations have
been progressing recently for the alb
sorpticn of the Massillon road, which
extends from Narvarre, Ohio, to the
Warwick mines, Ohio.
IN July, 1899, the capital stock of the
Wheeling & Lake Erie was increased
from s24,50G,c0 to $4,000 900. This
stock is divided into IS, 200, 900 of frat
preferred, s12.0O0,0 eco of second prefer
red and $20,000.ooo of common. There
is an authorized issue of SIS ,e00, 900 of
4 per cent. fifty year consolidated
bonds dated September /, 1890. Part of
these bends and part of the new stock
were recently applied to the refunaing
of certain Gid securities. In the past
year large amount OF money has seen
expended in the erection of new steel
bridges, the improvement of the road
bed and the elimination of curves. The
road is said to be in good condition,
and it taps a rich coal and iron region
in Pennsylvania.
Myron Z. tIerrick, of Cleveland. is
ane chairman Of the Board of Directors
of the Whae.lng and Lake Erie, Robert
Blickensterfer is president and general
manager, ard Alvin ". Nrech, of New
York, is vice president.
Although the Gould system as a
whole will &c benefited by the acquisi-
ton of the Wheeling and Lake Erie
road, the Wabash eastern terminal is
Buffalo, which IL reaches from Detroit
over the Grand Trunk railroad. A few
years ago a twenty-one years contract,
YVES made between the Grand Trunk
and the Wabash, and a similar contract
was entered into between the Wabash
and the Erie fer passenger traffic 0e-
tween Suspension Bridge and Buffalo.
TIE Wabash has no connections in the
direction OF Pittsburg.
pleasant time for all at the Jacky
Arthur bail at Pythian Castle tonight,
s----scrs------