Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-04-09
george GOULD Backing
WHEELING I LAKE ERIE.
THE PENNSYLVANIA COMPANY WAS
UNABLE TO BUY A CON-
TROLLING INTEREST.
TO BE PART OF A GREAT SYSTEM
WILL BUILD A BRANCH LINE INTO
THE GREAT COAL FIELDS
OF WEST VIRGINIA.

Special to the Register.
CLEVELAND, O., April S.-When
the May meeting of the board of direc-
tors of the Wheeling & Lake Erie
railway has been held it will be seen,
il current report is 20 be credited, that
a majority of the stockholders will
represent the Gould syndicate, which
originally purchased the property. and
the others will represent the Pennsyl-
vania railroad.
At the same time it is most likely
that the official announcement will be
made that the Wheeling company has
gained entrance into Pittsburg and the
big Carnegie steel works and also that
1t is the intention to build an extern
sion into the West Virginia coal fields.
A short time ago there was furry
on Wall street over the report that the
Pennsylvania was trying to buy the
Wheeling company. At that time it
had been established that the Wabash
railroad had bona flde contract with
the Carnegie Steel Company to carry
rs PEI cent. of the product of the Car
negie mills and that it was behind the
Pittsburg & Carnegie railroad, which
had been given a franchise to build a
line from Pittsburg to Mingo juno
ton.
The Pennsylvania officials knew that
the Wabash people had been dealing
with the Wheeling company with the
end in view of establishing a traffic
agreement that the steel product
might be shipped from the Pittsburg
& Carnegie railroad over the Wheeling
to the Wabash line at Toledo. In
order to prevent such traffic agree
ment being effective the Pennsylvania
people went upon the open market at
New York and sought to buy enough
stock to insure them the contract OF
the Wheeling & Lake Erie. They sue
ceeded in buying a large block OF the
stock but before they obtained con-
troll they came against solid block OF
stock that was locked up and not to
be had. All efforts to buy more were
of no avail.
It became known that this stock was
in the hands of Col Myron T. Herrick,
of this city, with the understanding
that he was acting for George Gould
in a very large measure.
On Saturday Col. Myron T. Herrick
returned from the West where he at
tended meeting of the board of direc-
tors of the Missouri, Kansas & Texas
OF which he is a member. During that
trip, rumor has it, he received a call
from George Gould, in which not only
the future of the Wheeling but of Col
Herrick and some of his properties
were under contemplation. Col. Her.
rick has been large holder of Mis-
souri,. Kansas & Texas stock for num-
Der of years. 1t is understood he has
been solicited to participate with Mr.
Gould in bringing the minority stock
holders of that company to accept the
offer of the Gould syndicate to buy in
the property. 1t is the purpose of Mr..
Gould to form a southwestern system,
of which lie Missouri, Kansas &
Texas will be part and also the
Wheeling, the latter being the eastern
extension. This system gives the
Wheeling an added eastern import
ance as it will be the feeder out Of
Pittsburg for all of the lines COM
prised, in freight way.
Col Herrick said tonight that he de-
sired not to talk just now.