Evening star., 1906-09-18
CONTROL OF THE B. & O..
RUMoRED ACQUISITION BY HAR-
RIMAN AND ASSOCIATES.

E. H. Hartman and his associates. 1t
| was said yesterday in New York hnanciai
quarters usually well informed, have ac-
! ouired control of the Baltimore and Ohio
Railroad Company and purpose using It,
with probably the Chicago and Alton as
the connecting link. in forming with the
Union Pacific through line from ocean to
ocean.
Mr. Hartman and James Stillman have
f6 some time been directors Of the Baltl-
more and Ohio and presumably, with other
members of the Union Pacific party nave
been extensive holders of its stock. 1t Is
now said that the slU.00O,No, in round num-
bers, of Baltimore and Onio stock recently
sold by the Pennsylvania Railroad Com
pany to Kuhn, Loeb & Co. has been dis
posed of by the banking house to the Union
Pacific interests.
The Pennsylvania at the beginning OF tpls >
year owned directly $30,0OO,OOO common and
So, 10000 preferred stock of the Baltlmoree e e
and Ohio, and held through Its controlleo
companies $19,6O6, 900 more Of that STOCK
taking common and preferred together,
These holdings aggregated sIl.Se,SU of e
nearly 40 per cent or the to'al s'oeh VI
the Baltimore and Ohio.
Status of Stock Holdings.
It is now understood that the holdings
disposed of to Kuhn, Loeb & Co. comprised
the $50 293 800 Of the common STOCK ana
about S1O,OOO,OO0 of the preferred STOCK
owned by the Pennsylvania directly, leaV-
ing that company still the owner of about
81 600. 600 of directly held preferred STOCK
| and. through it's subsidiary companies, OF
s19. zoe. 600 additional stock Of the TWO
| classes.
OF the $27,75O, 600 new common STOCK Of
fered by the Baltimore and Ohio last sprlng &
to its stockholders, the Pennsylvania hao
the privilege of subscribing to about VIZ
| 100 600 If, as is believed prooap!e, tiie
rights went with the stock SOLD py .ne
PENNSYLVANIA, the Hartman interests nay {
| obtained by exercising those rights -ene me
ranort heinp assumed correct that they were
| the purchasers of the holdings sold 10 10
| Kuhn, Loeb & Co.-an addltlonal eo''V''0o'
| or more of the new common STOCK. .
The Pennsylvania, although having oi-
| vested itself of so large part OF Its Baltl-
more and Ohio holdings, still has heavy
| interest in the property, ana must pe coI col,
| sidered an important factor IN lts coh!roit , !:
Moreover 1t is believed in Wall street that
| it would not have parted with half OF lts
! holdings to the Union Pacific interests with
| out having received assurances that the
Baltimore and Ohio would not De operdeeo
| in antagonism to 1t.
The Chicago and Alton, which is con-
| trolled jointly by the Union Pacific and the
Rock Island. extends from Chicago and
u.
and Ohio to Kansas City, one of the east
| ern terminal points of the Union Pacific
The Mileage Involved in Deal. q.
The Baltimore and Ohio railroad has
| 4,4S3 miles of track, exclusive of sidings,
/ with 1,522 locomotives, 1.214 passenger cars
| and 50 ,O26 freight cars. Its capital stock is
s1S5, ,OOOO 600 Its funded debt consists OF
s227, ,262 $50 in bonds issued and s., ,SS2, 500 In
additional bonds assumed. The company
| has been paying dividends on its stock at
| the rate of per cent a year.
The Chicago and Alton railway has line
| of 0O1 miles long, with total trackage, In
| cluding side tracks, of 1,321 miles Its roll
| ing stock consists of 223 locomotives, 17S
| passenger cars, As baggage and mail cars
| and 9.655 freight cars. Its capital stock Is
$40 100000, divided equally between common
| and preferred. 1t has a funded debt of
$22OO0.O00. The preferred stock of the COM
! pany is entitled to dividends not exceeding
| per cent year.
The Union Pacific railroad has 5640 miles
| Of track including the trackage of leased
| lines, the mileage owned by the company
amounting to 1856. 1t has $50 locomotives,
| 557 passengers cars, 2.04S freight cars and
2,439 miscellaneous cars. The company has
outstanding 0S772,9O0 of common stock
| 500, ,5G7. 100 of preferred stock and bonds
amounting to $197,257 600 Its preferred
| stock is entitled to dividends not exceeding
| A