The sun. [volume] (New York [N.Y.]) 1833-1916, 1904-10-21
O.&W. GOES, TO THE NEW HAVEN
VERY DEFINITE STATEMENTS
THAT CONTROL WILL PASS.
Stock Passes 40 on the News--Transfer
VIII Give the New Haven valuable
Coal Properties and q Direct Route
Into the Pennsylvania Coal Regions.


Into the Pennsylvania Coal Regions.
While neither President Charles s. Mellen
Of the New Haven nor Thomas p. Fowler
Of the Ontario and Western would admit
it yesterday, Wall Street believes that the
four point advance in the stock Of the On
tario and Weste m railroad on the Stock
Exchange yesterday was due to the fact
that negotiations are practically COM
pleted for the taking over Of the Ontario
and Western by the New Haven road. There
had been a report, owing to the prominence
OF Kuhn, Loeb 4 Co., who are understood
to control the Ontario and Western, in
Pennsylvania affairs, that the Pennsylvania
was to become the purchaser, but the buyer
is understood to be the New Haven.
A report to this effect has been afloat in
the financial district for some days and has
explained the recent advances in Ontario
and Western stock from SO to 40H. which
price II touched yesterday. The stock
went TO 40 on the understanding that 1t
would be taken over at this figure by the
New Haven, although one report had 1t
that control would be secured through
lease on per cent. basis.
President Fowler, when asked to
confirm this report yesterday. said: Il can't
say anything about 1t because don't know
anything about 1t. / have no information
on the subject
In New Haven yesterday President Mellen
used very nearly the same language in dis
cussing the report, replying to query:
Il have no information on the sub jet
whatever, and as a result I am unable to
make any statement"
II was learned definitely, however, in
spite Of these evasive answers. that nego-
tiations for the sale Of the control OF the
Ontario and Western are under way and
that a statement regarding the status OF
the transaction will be made within few
days
The stock of the Ontario and Western
has furnished much comment tn Wall
Street Of late owing to the campaign by
the roads stockholders to secure the dis
solution OF the voting trust. In the course
of this campaign the stock went from 10
to about "a, and at the recent meeting OF
the stockholders the objections to the vot-
ing trust were met through arrangements
for a 8 per cent. dividend ON the stock.
which dissolved the trust, and proposition
for a bond issue, which will be submitted
to a meeting Of the stockholders on Nov.
next The stockholders committee, OF
which James B. Gews ia chairman, issued
circulars yesterday advising stockholders
to give their proxies to the management
for the meeting on Nov. ..
In the course Of the stockholders' cam
paign it was understood In Wall Street
that interests close 10 the company. repre-
scented by the banking house Of Kuhn,
Loeb 4 Co.. had secured control OF several
hundred thousand shares Of the stock for
voting purposes. and it ls this stock and
control which will be sold.
The New Haven will secure IN the New
York, Ontario and Western, whose capital
stock is s5s Ooo. 900, direct route into the
coal regions of Pennsylvania and valua-
BILE coal properties. The New Haven recently
purchased the Central New England Rail-
road, which runs from Springfield, Mass,
to Campbell Hall, N. Y, over the Pough-
keepsie Bridge, which it controls, and by
this means it can effect a connection with
the Ontario and Western.