The Washington times., 1901-11-11
B. & 0. FINANCIAL PLANS.
The Railway May Issue More
Stock to Raise Money.
Projects Thnt VIII Require Heavy
OutIays-The Union station Here.
the PiftsburG and Western DenI.
and II Possible Larger Dividend.

the Piftsburs. and Western Denl.
and IL Possible Larger Dividend.
The Baltimore and Ohio Railroad
management has under consideration
financial plans of wide import
aucc that may be announced at any
time this week, and are almost sure
to be taken up at the annual stock
holders meeting week from today. one
of the matters under discussion Is a union
terminal station for the Pennsylvania and
the Baltimore and Ohio at this city. An
other is the question of g larger dividend
for the Baltimore ana Olaio stockholders.
Another is the financing OF the reorgani-
zation of the Pittsburg and Western.
Plans are being made also for extensions
of the system and for large improvements.
The issuance of the new capital to
finance the reorganization of the Pitts
burg and Western, and to pay for the
acquisition of the Cleveland, Lorain and
Wheeling, and Ohio River railroads, is be-
ing arranged rapidly. The Finance Com
mittee of the board of directors has this
in charge In the same connection there
is suggestion to Increase the dividend on
the common stock from to per cent.
The company has actually earned 10 per
cent for the year Opposing any increase
is an influence in the management that
contends for liberal expenditures out of
earnings for betterments The recent de-
cision of the Pennsylvania Railroad to
pay an extra dividend to it's stockhOld-
ers is, however, taken favorable sign
by those who hope for an increased Bal
timore and Ohio dividend.
Whatever may be the dividend action
It is certain that the policy of improve
cent order for so, 20 tons of steel rails
will soon be followed BY contracts for
from 5000 to 10,co0 new cars These are
badly needed, as the Baltimore and Ohio
is suffering from the car famine which is
felt in all the large shippfhg centres Ad-
ditional locomotives will ialso be pur-
chased. A number of branches are being
built. and surveys are made and con
tracts will be let for others. These
branches are feeders. reaching coal and
timber lands and manufacturing commu-
mites.
1t is felt that the near future will pro-
duce some interesting developments anent
the close relationship now existing be
tween the Baltimore and Ohio and the
Pennsylvania Railroad. As already shown
in The TIMES, one exempdification is al
ready seen III the efforts fof the engineers
of both systems to work out a plan for
a great union terminal at Washington.
There has been talk at various times of
the Pennsylvania lines from Philadelphia
to Washington being given four tracks to
accommodate the rush of traffic. Its own
ership in the Baltimore and Ohio win. it
is said. postpone this plan, and surplus
business will be diverted to that system.
Eventually it is expected that the Balti-
more and Ohio will share in the through
business to the South now monopolzed
by the Pennsylvania Railroad. The re-
cent break in the Union tunnel empha-
sized the excellent advantages enjoyed
by the Baltimore and Ohio to handle this
business.
Reports from Chicago and Pittsburg as
sociate these two systems with other i'm
portant projects From the Windy City
comes a statement that the Baltimore and
Ohio has notified the Chicago Terminal
Company of it's intention to terminate
the existing agreement if better terms
are not granted. 1t is stated that the
Baltimore and Ohio now pays the chi
cago Terminal Con nany SZ5O.OOO year a
question in this connection has been
raised as to whether it would not be well
for the Pennsylvania to enlarge its ter
minal facilities in Chicago and have the
Baltimore and Ohio occupy them under
some fair division Of cost
The Pittsburg report says that the
Pennsylvania Railroad has prepared plans
for the erection Of a large steeI-car plant
at either Johnstown OF Steelton, IA; Both
the properties of the Cambria Steel Com
pany and the Pennsylvania Steel Com
pany are controlled by the Pennsylvania
Railroad Company, and the statement Is
made that the stecl-car plant will be built
at the plant of one of these companies.
This railroad company, with its allied ana
subsidiary companies. is today the great
est purchaser OF steel cars in the world;
The demand for cars and the crowded
condition of all the car plants Of the cOun-
try is given as the reason for the plan TO
build its own works.
In this regard the extensive improve
rnepts at the Mount Glare shops of the
Baltimore and Ohio are along lines that
will enable these shops to again resume
the building of cars and locomotives.
AS the voting trust of the Baltimore and
Ohio has been dissolved, the stockholders
of the company, at next Monday ; meet
ing for the first time since the receiver
ship. viii have an opportunity TO paruci-
pate in the annual meeting. or course,
the Pennsylvania Railroad VII. have most
of the say at this meeting.