New-York tribune., 1906-09-25
ROGERS MAY GET N. & W.
On THE STREET THINKS.
s.ondord Oil Interests TO Protect
n,cn-cater and TMeIeater Railroad.

IT.
- ,he announcement was made, carry H'
,--.nr month. that the Pennsylvania Ran
connauv had sold TO Kuhn Loeb q %
b.lr Of it, stock holdings in the bai'i-
& Ohio and the Norfolk & western ''O
..,.-ion has come from that firm OF li'4
ofher responsible source as TO the prooa-
Ultimate destination Of the norfolk * "eS'
b,ock consisting Of about l6o"p shaie'
- sno-oNinlately ~ per cent Of the eh'i'e cap
,,sJ,slock Of the road
Wall Street has been figuring out the hia'1e''
- and believes that this stock viii event
rsjlv pass into The hands Of Il n hosei9
.ssocistes. IN the interest of the Deep"a'er
: TideUster Railroad. which is being uioO-
.-,,sive,v constructed through the Nirginias-
Is,,ti,,ore 4 Ohio stock sold by the Penn
..srspis 10 Kuhn. Loeb & Co, about 4oou''
4.-ss IS in process OF transfer 10 the Diloh
,-.is, Railroad Company and the compIeuoh
= h. necotiaiions now pending 70 that ehd
n --sl,s nossibe the creation OF al ocean-to-
- line with tho Union Pacific and the BAL
.,u.,~s & Ohio as its Western and Eastern d.
visions. respectively
7v,s Norfolk a Western rcl1ls through the r1eh
,i-,r,iro.s coal territory Of West Virginia and
.h-oyrb Virginia 10 the sea Al Norfolk. Last
,,nr or ar about the time il is commonly said.
hsp the Pennsylvania reduced its stock hold
,,,s in ihat road its representation on the Nor
~ 4 Western board also was reduced. ". Il.
ps-rse q director Or he Pennsylvania and John
p Tbsver ir fourth vice-pTesident Of the same
,omnany. being succeeded as Norfolk & West
s,, directors by Henry Z. Frick. one or the laTg-
a., in5iridusi sioc kholders. and Levi {. Weir.
,-ssi6ent of the Adams Express Company. who
olso represents large stockholdiug interests in
the property
The Rogers railroad enterprise consists Of the
rssnvste- RailvaT with $4,000 authorized
s,ck and 10 bonds a partly completed road eX-
,s-dtug from Doepwater ". Va. on the Great
rsnsvha River. south7vard To the Virginia state
sns and tho Tfdcvator Railway. with 100000
,n,borize5 stock and no bonds. a road under
,,rs.r-lr,iou from q counecri1n with the Deep
vare- Railway st the state line through Nir-
ginia to tdewate~ A. Norfolk.
TIE Two roads viii form a line $40 miles in
,ngfh extending from The New River and Poca-
.on,sg bi,uminous coal fields TO Norfolk. and
p-acticaIv paralleng he Norfolk & Western.
which trsysrsas West Virginia 10 me westward
G j.
Nr Rogers vas reported more han year
sss 70 have acquired extensive terminals ar
Norfolk and TO have made his plans for operat-
fnga inc OF steamers and barges from Norfolk
TO this CRY and New England. for the convey
anos q the high grade coal tonnage n he deliv-
ered by he Despwa1er- -Tidewater road a. Nor
fok
Millions o. dollars. all privately supplied-for
no securities have been offered TO the public
hsvs already been spent il construction work
and Tie 'etal aost has been variously estimated
ar bstWsen s23eoo0O0 and S36.OO00G0 If the
plans Of us projectors include ultimately an eX-
tension northwsri from Deepwater 70 the Great
lakes, As has been reported, the fact has not
2ubic!g developed But ,he line from Deep
water 70 NoiIok, Hhlch is expected TO he IN
operation ~ Jsngary 1888. cannot but he Il
foImida5ie competitor 20 rha Norfolk & WeS.-
The Nereolk & Western has S66 100000 COM
mon stock Of which S64. 4e9. 200 is outstanding
aLo S-o@s'@@5 preferred stock OF which S22-
s5l,le0 il issued The Pennsylvania Railroad
system az The close of 1903 held S11Oo0o0O
O the preferred stock and S22 $4,000 Of the
common or total of So $50 600 out OF the en-
Ire ss9G1@lo authorized stock OF both classes.
VI oeto5er II the stockholders are To rote on
proposition 10 authorize The issue Of S34 600 600
convertible bonds The proceeds Of which are
- D. Used IN payment Tor improvements. and
ue issue Of S}4Vo0op0 additional common
Iva 10 ploFiGs FOL the conversion.
ne right 70 subscribe for this new stock will
M al probability be- offered 10 the stockhold-
eA % thai Dir. Rogers and mis- associates, IL
u'ey snail acquire the 10000 shares now held
% Kuhn Loeb & Co. would be able to increase
literally their holdings in the property.
A. frlck. VINO, as already said. is one OF the
@ses' individual stockholders in Norfolk &
western and has often been reported TO own
ne largest single block OF it's stock is closely
associated with the Standard Oh interests, OF
'"Nh Mr.. Rogers IS among the most prom
''-'' snd tie 20 per cent OF the total stock.
r4's"ssea from the Pennsylvania by Kuhn,
~'so d Co. would II turned over by the bank
= 70 MI Rogers and his friends in the deep
-uae"ster enterprise give them. in COM
N-lOl Win Mr. Frick. al interest not far short
'oiAlhs control % the Norfolk & Western. a
.! -.sHs! and competing property. with the Penn
4s io1 antasonlzng their policy
also noted by Wall Street that Kuhn.
' Co have long been identified with the
--afo Oh party. and that in finding a pur-
- tof their Baltimore & Ohio stock &C
ron the Pennsylvania they turned 10 the
- racine Railroad Company. among The
orS Of which are Mr Rogers and Mr.