The times. [volume] (Richmond, Va.) 1890-1903, 1901-03-10
PENNSYLYANlAHAS
NOT LEASED C.& 0.
A Positive Denial From
President Stevens.
DEAL is EXPECTED.
Believed the Big Road Will Eventually
Get Complete Control.
DOlIBT AS TO DELAY ON VIADUCT
The Bridge Company Announces That the
Structural Steel Can Now Be Obtained
on Time-Into the New Depot
by July lst- Southern
Department TO
Come Here.
DOUBT AS TO DELAY ON VIADUCT

..os course there is no truth III tne
..a+a,.,+ that the Pennsylvania mas
leased the Chesapeake ana ONO
President stevens, of the Chesapeake hs'e'
Ohio to a Times writer yesteroas n0
BOARD of Directors would know so1r'e.hins
:, = if ;+ we're true. The board does not
know it. There was a meetlns u 't'e
board in New York last week. | assui :, !"
Won the road was not leased 10 any poos'
The statement referred to was sent OUT
o,,e,. tho stock wires from New orh yes
terday 1t was as follows:
..Chesaneake and Ohio ABSORBED pS
PENNSYLVANIA Pennsylvania Faiiiodu
COMPANY will lease the Chesa2es allu
Ohio for 500 years. guaranteeing . pet
cent. dividends on stocks. 1t IS said ehi'
the arrangements were made by the 'a'7
dar,ilt interests. who are the largest
holders of the latter company stoch'
There is a general scramble for Chesa,
nealze and Ohio in London; A 3-S is old-
The effect was to put Chesapeake ana
Ohio away up in the local market II
closed at IS IL, an advance or l. over
Fridays closing. There We're many WHO
credited the ru1nor The emphauc ue
NAL that such q deal had been cohsu'h-
mated had not been made when the mar
ket closed.
There is an almost universal belief
among railroad and financial men that
eventually and at no distant day, the
PENNSYLVANIA will own the chesapeake
and Ohio outright, or, at least, control II
absolutely. OF course, for a year or more
the PENNSYLVANIA has had u controlling
interest in the road. but it is thought it
will buy it outright or lease it for q
number of wears in order to avoid any
possible conflict with the minority stock
holders The Pennsylvania controls the
soft coal production of Pennsylvania.
Through the Norfolk and Western it con-
trolls that of the fields OF southwest Slr-
einia and through the Chesapeake ana
Ohio the ISanawha and New River fields
Of West Virginia. The Pennsylvania's 5
interests in the Pennsylvania mines can
never be allowed to suffer. Therefore, ii
is necessary that the road have absolute
control Of all competing fields, ana TINS
it cannot have so long as a powerful
minority of the stockholders may tight
ANYTHING like an effort to decrease pro-
ducton in the Norfolk and Western and
Chesapeake and Ohio fields until the
mines of Pennsylvania have supplied all
the coal that car. be dug from them.
The acquisition of absolute control Of
the Chesapeake and Ohio by the Pennsyt-
vania would mean a great deal TO New
port News and the miners OF West Nir-
ginia, or it might mean nothing. 1t would
mean nothing ii there were market for
as much coal as both the Pennsylvania
and Virginia mines could supply, but it
is safe to say that Pennsylvania coal
would have the first call.
The following comparative statement OF
passenger and freight train mileage of
the Chesapeake and Ohio has been is
sued:
Passenger train mileage for the six
months ending December 81:
1S9a............. ..................... 1,5Sool4
jncreaSe... 5.l per cent.
Passenger car mileage for the same
period:
1899. 9.......... Observation-Disclosures. 7,21S, ,.6l
1900. .................-- .,bol,9ia
increase. % per cent
Freight train mileage for the period
mentioned:
1899. ............. .................. 3,o2s, ,2se
19G0. ..-........... .--.....-.....-.-.. -,93z,4l4
Decrease. Se..................... IL per cent
Loaded car mileage for the period
named:
1899. ..................... II, ,4o9, "a