New-York tribune., 1902-12-28
PHILADELPHIA AFFAIRS.
Political and Financial Centres of Interest =
Threatened Gas Hold Up"-Raii-
road Extension

Philadelphia. Dec. e27 (speciaD.-The political
wiseacres. outside of those in the immediate con-
fdence of Senator Quay and Mr.. Durham, are no
longer at to the favorfe of the bosses for
the Mayor nomination. It known some time
ago that Mr.. Durham had decided to withhold the
announcement OF the name of the slated caidi-
date until after the holidays, and, possibly with
desire TO avoid as long could be possible con-
fct with Mayor Ashbridge. until after the organ
Ization in the Legislature at Harrisburg the first
week in January.
Mr. Durham had conference with Senator Quay
in Washington on mis- way home from the Hot
Springs, and since he has been in the city he has
had serious conversations with Mayor Ashbridge
and with Senator John NJ. Scott, Mr.. Scott was
who YOU'D M have had S no 10 20 W AMY to
accepting the nomination There is no doubt
that MI Durham was anxious to name senator
friend But It is in now announeed that District
oTs Soh with b psee mas IS he e
Mayor.
The financial condition of this city is occupying
the earnest consideration of the managers OF the
Republican organization because of the impossi-
bty OF raising sufficient money to pay current
expenses by the present tax rate of 81 s. on the
present property valuation The future has been
drawn upon heavily to meet the demands of the
present Nearly sl2Ooooo either in temporary loans
in transfers from funds set aside for perma-
nent improvements, has been authorized each year
for several years past to pay current bills A..
tax Ky rate 'S has been regularly howled down and
The proposition M now senousiy us is an
essessment e for next Year an Increase Of
the tax re is 'hs1 to be lGr avoided Il will require
crease IN assessed values Of Of more than s
present conducted
The well known aversion of Thomas Dolan, pres-
dent of the United Gas Improvement Company. to
the methods of John NJ. Mack, the principal factor
in securing through political manipulation the eX
tended franchises of the Philadelphia Rapid Tran
sit Company, is the basis fer the general accept
ance of the story that there Ia threatened "hoid
up of the gas company by the introduction Of an
ordinance into the City Councils to revoke the lease
to it of the ctys gasworks.
The consolidation of the Widener- -Ekins-Doian-
Mack interests in the rapid transit United Gas ana
Philadelphia Electric companies, which has been
under consideration for months. is more than a
dream. Mr. Dolan being the only one of the syndl-
cate who holds aloof from the formation OF a
security holding company under which the MANI
fold interests of the set of fnarciers can De
merged in well as in fact, In conse-
quence, when from potico-financial centre ema-
mated the report that 1T contemplated to move
against the lease Of the gasworks, the principal
asset of the United Gas Company its credibility
was accepted, and the movement was looked upon
a distinct threat from Mr.. Mack, with view
forcing Mr.. Dolan to consent to the s2ooeooo"
merger. - ,,
So far it has had no apparent, effect upon MI Mr.
Dolan but even his friends say that this Is n pT99
cal power of the man with whom he is at variance
Behind Mr.. Mack are arrayed the forces which ief
have made the machine Republican organization
which is able to control the City Councils against
money buy anything in the gift OF the couh-
The influences at work to bring pressure to bear
upon L9e r. GhtEa a, s as PSward Addcks Who ad
mts that he has been approached on the sup
jeet that pGoPSs9an a was pesnas & 20 ompany
would be prepared to take the lease should II De
provement Company cannot be taken away from It
9eare saio dad by the next
fore 1t could be done the city. or the new lessee
penditurss ] made during its lease, which would
require sl6 100000 or sl7,0Oo.ooo.
The Interstate Railways Company with head
quarters in this city, to the front In the news
of the financial world this week. when official an
nouncement made that 1t had taken over the
United Power and Transportation Company. This
is purely an electric railway DEAL and involves the
sale Of sixteen rSey lines and o power teoe PANS road m
extend northwest from this city IN an o unoroRed
ns up p tRf Del TSe o
has also acquired the capital stock franchises ana
panies in Southeastern Pennsylvania and New
to for its stock SIS share in trust bones
Power par value is, s2s. which per cent divi-
dends have been PAID and has 5een been odsr ba m
the right sell his stock the same terms until
January g.
New-Yorl1 is taking interest in Consolidated
Lake Superior which it did not have before the
announcement that arrangements had been made
with Speyer & Co. Of New-York, and associated
banks and trust companies of this CITY for Loan
of So 10000 with representation OF the banking
rectors 1ne loan is In the nature of collateral
trust and can be retired in two or three years
ranid advance In price of shares. both preferred
and common most of the buying orders coming
from NeW-1Ork
The community of interest between the Penn
sylvania and the Baltimore and Ohio railroads is
shown in the project which the latter is about to
undertake in utilizing the old South Pennsylvania
surveys and route which will prevent the Wabasn
South PennsI Ilvania line whose rights have. IAN am
dormant for many years IN the control oI tt .ie
Pennsylvania Railroad The t ae9 I 9I ex @
tension of the Wabash and the intention to build
line from Ptssqrg to S mse1 erk tne bv tss BamoTe
and Ohio, which contemplates the building OF thIee
hundred miles OF new raroad wtiSh Wla bt5
at least fifty miles and bring Chcago elghty niles
nearer to Baltimore by the Baltimore and ONO
line.
The project of choosing a fifth vice-presdent for
the PENNSYLVANIA Railroad is being held in abey-
ance and officials in authority say that the only
immediate official changes are additions TO the
mean a new assistant treasurer and the creation
Of a new office in the treasury department
NAVAL STORES.
The spirits tuPent!ne steady but aget
ana ana @ umehalEiTI aiu held I've quote:
SpfRfTs II; ;RPENTINE-or bbls, 55c; machine bbs,
90 TsR-Pine hbs 81 %: bills. 81 %