The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-06-08
NEW ROAD AT TER
CHESAPEAKE &0H|0.
Reported That Cincinnati, Hamil
ton and Dayton Is Seeking
to Gain Control.
BID FOR KUHN-LoEB HOLDINGS
Stock Boosting Regarded as Indi
cation That Western Property
Is Actively in Market.

b
Although officers and stockholders of
the Chesapeake and Ohio Railway are
not advised as to the nature of any
negotiations, there are persistent ru-
mors of an impending change In the
control of the property. by which IT
will be acquired by the Cincinnati,
hamilton and Dayton system. The re-
Asnt advance In Chesapeake and Ohio
stock as a result of heavy purchases,
when other railroad securities failed
TO respond TO an upward tendency
has attracted much attention in rail
road and banking circles here, though
no satisfactory explanation was Of
fered.
Wants I<uhn-Locb Stock.
According TO New York advices, how
ever. Boston man. acting in the in
forest of the Cincinnati, Hamilton and
Dayton, has secured an option on the
Chesapeake and Ohio holdings Of Kuhn
Loeb Company, which approximate
s15,O00,000 Of the stock. The price
mentioned was 80. but 1t was denied
that the block could be purchased
a that figure.
1t has been pretty generally under
stood for some time that efforts were
under way to swing control of the
Chesapeake and Ohio to new interests.
tue thSoiy DeiuS SeiicidliS uCCepteu
that there has been an accumulation
OF the stock In the open market with
q view of subsequently effccting a
purchase of the Kuhn-Loeb holdings
and thus secure control. In Wall
street where 1t is believed that the
Chesapeake and Ohio will eventually
pass into other hands. it Is not believ-
ed that the negotiations have been
contaminated
The purchase of the Chesapeake and
Ohio by the Cincinnati Hamilton and
Dayton would be much like the tail
wagging the dog. as its total mileage
is 1,03S against 1882 for tLa Virginia
line. 1t is at present in the hands
of Judson Harmon. as receiver. with
!. Pierpont Morgan as its leading finan-
cial hacker since the elimination OF
eugene zimmerman, who is more gen
orally known as the father of the
Duchess OF Manchester than as a
railroad magnate. The leading mem
Der OF the board Of directors is George
w. Perkins, a member of the bankinr
mouse OF j. P. Morgan & Company.
From Great Lakes to ,rIdcVatcr
Whether the acquisition OF the Chess
apeake and Ohio by a Western road
would be advantageous to this section
is dehatable question, especially if
the former should actually merge it.
The wisdom of the plan would not an
peal to local people If 1t meant an ac-
tual consolidation with the Cincinnati,
Hamilton and Dayton as the owning
and managing property and the posi-
bilty of a change in officers and a
transfer of general Offices to Cincinnati
With the Chesapeake and Ohio con-
trolling instead OF being controlled, it
tending from Newport News to Toledo,
on Lake Erie. The fact that repeated
efforts are made to purchase the road
shows that 1t is regarded as the most
desirable highway to the sea.
There is no better physical property
In the United States than the Chesa-
peake and Ohio, considering the diff
culties which had to be overcome. A
large part of the earnings have been
expended in betterments, and while
this meant small dividends 1t has put
the road In the very front rank, espe-
cially in late years. The administra-
ton of President George w. stevens
has been fine exhibition OF his abil-
1ty. his course having commended itself
to practically all patrons of the line.
Within the past few weeks a bond
issue of s2.5o0.OOo was authorized for
keneTdl improvements.
stock Market Activity.
With a big demapd for stock in the
open MARKET, 'the quotations last week
ranged as high as 46 as. 1880 shares
being transferred, with more than 50,-
900 shares the previous week. When
other roads, We're feeling the effect
of the BUSINESS depression last fall the
stock dropped to 25 IL. and in view
of possible purchase. stockholders be.
lieve that the quotations will advance
to so or more.
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