The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-07-19
NEW YORK.

The New York Central and Hudson
River Railroad has purchased from the
Cleveland (Ohio) influences controlling
the street railway systems of Utica,
Rome, and Oneida an interest IN these
properties to which has just been added
by purchase the Syracuse Rapid Transit
Company. The various properties Will
now be merged into one system, and the
New York Central VIII enter into traI-
fic agreement for the use OF the West
Shore Railroad TO connect the systems,
OF which Syracuse and Utica are the
Centers.
Further extensions both eastward and
westward are in contemplation, and the
New York Central viii aid the new com
pany in taking care OF and developing
the short haul traffic.
Wall Street heard yesterday that the
predominattnS interests in the missouri
ed on the board by John d. Rockefeller,
William Rockefeller, II. L Satteriee,
and Joel +. Freeman, had sold their
stock holdings TO the Dutch interests
who are represented IN the dlrectotate
by Fl. j. De Marez Oyens, of Amster~
dam, Holland. At the Offices OF the Mis-
souri,, Kansas and Texas in New York II
was said that no information OF any
such deal had been received and the
transaction was discredited. President
II. c. Rouss is IN Massachusetts,
The Sully creditors held a meeting
YESTERDAY TO DISCUSS luIlllGE the StAAit-
ment offer made some days since OF 40
per cent Of their claims in cash and 10
per cent in ninety-day notes OF ID. j..
Sully < Co. While there was general
disposition on the part OF those prese NJ I
at the meeting 10 accept the oner the
creditors insisted upon positive assur-
ances that the cash end Of the PROPOSE
ton could be carried ont.
Referee Coke asked the trustee for q
statement Of cash now in his hands and
was told that the trustee had 100000 in
cash and $3.50. 600 IN neGOtiatiable paper
On this basis $500, 900 more would be re-
quired TO make up the 40 per cent of la
bilities which IL IS proposed to pay In
cash, and the meeting adjourned TO to-
morrow TO enable Mr.. Sully. who was
represented yesterday by counsel only,
to raise the requisite amount.
President Eugene Zimmerman. of the
Cincinnati, Hamilton and Dayton stock.
system, which was formed by taxing
over the Pere Marquette and the Chlca-
go. Cincinnati. and LOUISVILLE roads SAID
Yesterday that the financial details OF
the consolidation had been completed Dy
the creation OF the new so, Wl,VO mort
gage, and an issue OF $4,000 Of new
fncinnati. Hamilton and Dayton stock.
As already reported 100000 Of the
new bonds will be uesd to take
over some $l, 100000 worth Of Pere
treasury stock Of the Pere Marquette.
along with holdings 10 be purchased by
the use Of the new $5,O00,OJU OF Dayton
stock. the control of the Pere Marquette
will rest with the Cincinnati, Hamilton
and Dayton.
President Zimmerman and large par
u, including directors OF the three
roads. underwriters, and bankers who
figured in the consolidation, VIII meet IN
Buffalo tomorrow and inspect all the
properties Of the new consolidated COM
panv. travelling by special train. The
trackage agreement by which the Pere
] 1TarnrrGrfa R1TTT9lO over the InGS
| OF the New York Central system Went
! into effect yesterday and the first train
was run in accordance with the agree
ment.