Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-05-21
$28,OOO,O0O
IN HIS POCKET
Virginia Man Building
Railroad On A Cash
Basis

WASHINGTON. May 21.--A special
to the Globe Democrat says:
Building a railroad for cash, without
stocks or bonds, is what HI. H. Rogers.
has been doing in West Virginia and
Virginia. Nor is it a, "jerkwater'' road,
at that; but when completed will be
446 miles long and will reach navfga-
BILE water on the west and tidewater on
the east.
The mystery of who is back OF this
marvellous piece of railroad property
was cleared up today in hearing be-
fore the interstate commerce commits
/ sion, of what was thought to be an
insignificant complaint Of West vir-
ginla coal company against the Chesa-
peale & Ohio railroad. When w. N
Page, president of the coal company,
took the stand, 1t developed that he
was also the president Of the mysteri-
GUS tidewater railway and the chief
engineer of the Deep-water Railway
company, which have just been mer-
ged into the Virginia Railway COM
pany, of which Page is also president
! Page told the commissioners that he
had a letter of credit in his pocket on
the international Trust company of
Boston for $18,00O.000, arr another for
$40, 900 900 and that the Boston Trust
company has honored his drafts up to
date for $20,000.OO0. The tidewater
company has been fioated with nom
inal capital of $4,000, the stock Of
which is all held by Duncan, Sherman
& Co.. of New York, confidential at
torneys for H. H. Rogers.
Owns But One Share.
Page said he owned but one share, in
order to qualify as president. DR.. ]. c.
Green, SON n-law of A. s. Hewitt, he
said, was president of the Deep-water
railway, but was simply figurehead.
Asked If H. H. Rogers was putting
up the millions with which to build
the road, Page said he might be the
man and probably was, but he could
not swear to it.
81 know that I have these letters of
credit In my pocket here now" saSs
Page, "and If anybody wants to see
them I viii produce them"
i Everybody was so staggered by the
announcement that $2S.OOO,000 was in
the room that Chairman Knapp was
the only one who could gasp out, ooh,
don't mind. Mr. Page"
Tap Great Coal District.
1t is a stern reality. and the tide
water and deep waterway railways are
being built according to the highest
standard of construction, They were
consolidated April %, and will be cap
italized for $Ss.5O0,O00, though this
stock has not been issued. They will
tap one of the greatest coal districts
! in the world, and compete with the
| Chesapeake & Ohio. the Baltimore &
Ohio and the Norfolk & Western.
These roads are all more or less under
the dominance of the Pennsylvania in
terest
In talking Of his road. Page after
ward said 1t would get the coal Of the
/ district to tidewater at Sewelrs Point.
where the Jamestown exposition now
stands. on Chesapeake bay, and reach
the Ohio through the Great Kanawha
river He also announced that the
great lakes would be reached.
/ In this connection there is being
built another mysterious railroad.
strictly for cash. from Lorraine, Ohio,
to the southeast Joseph Ramsey. Jr..
FORMER president Of the Wabash. Is in
charge of this project. This road pass
es through Ashland, Mansfield, and IL
going in the direction of Petersburg,
W. Va, which Is on the Ohio at the
mouth Of the Great Kanawha.