New-York tribune., 1908-06-10
,orTD ROADS SAFE"
u0RE RECEITERSHIPS.
NJ
His Railroad Properties 4re
''' Nosc Comfortable.

,,.,,ls before sailing for Europe yester-
eso-se m the Kronprinzessen Cecilie. said
O. t. would be no further Applications for re-
rsi there s,- Gould railroad properties. the
ras-s1ils - she Wheeling & Lake Erie Railroad
rEs-snP s.sined on Monday. completing the list,
rort7sns' ,sas slso the International & Great
shich -. western Maryland and the Wabash
yo-.he- --rrninal Railway A similar declaration
frissos ,ster in the day by a close associate OF
sss n ,s and il therefore seems assured that the
" 90 end the Missouri Pacific VIII not have TO
Nssssh..t-ed. Mr.. Gould's statement was as fol-
rss: ,,sr,,r my n-onerties in = conn
tee thal ts6eton II did not feel that they were
frsn7ls, ls,ssgld mid not so away at TINS tine
IRE rss+ehe after the Wabash Elttshurg Termi
sss ~ defauted The IerIni-
" unI5 have carried it through but thought
fy corr -i-ne 70 stop on behalf of the wabash |
was gsrt the Wabash 70 become overloaded
q 20 no-se things. which might pTll II down The
ssoasD o1s viii not be permitted TO become fur
BE- 7yonSassI6oo e nas 6oo Wheeling & Lake Erie notes com
l1s >, August. guaranteed by the Wabash,
~ due ~ .. 1e~--1itte5 10 embarrass the Wabash.
VI 7bss 7 is perfectly able 10 take care of itself
:, he had abandoned any part of his plan
s +-anscontinen1al railroad line, MI Gould re-
MED: ,...0 .,o -,..s,o. .s
,.,,i,r cough and I do not know that they
- +he worse afterward
g 4hs o,gestfon was asked whether not he
-, IN the plan for Eastern outlet for
~ -s.sb he replied after a little hesitation:
y = -evsr heard ne say that had one
1- 80 r-esident OF the Denver & Rio Grande.
: - Ny. GouId's chief advisers. who is
- nf the Wheeling & Lake Erie, said that it
-, decided in q general way that the lines
~ -,le5o could he best developed by reorganiz-
-, i--o one system, although whether or not
| % lid Re done would rest ultimately with the
- Asked about the 9eceivership, he said
=. decision 10 ask for a receiver reached
% - .,s-,nc Of the Wheeling & Lake Erie directors
,..-ssv afternoon and was due TO variety of
IS CHEZ OF which were the falling of Of earn
q rs,cb amounted 10 over so per cent for the
,,.h Of April and 70 the maturing notes, 1or
- no funds were available.
1o,,suse OF those conditions" he continued, it
: 5s,i5ed that the interests Of all concerned
"a ~ hest conserved by making immediate ap-
-, FOR 2 receiver. The sS,0oo,000 notes of
= ,-.,anv which mature on August will be pro-
,s bit Just how this viii be done has not been
.a,..lv decided There are nearly two months in
-. e. ,,1r this matter. The troubles of the
- .-s largely due to the falling off in earnings,
= - -,orrb Of April IL did not earn its operating
,.,sss and the appointment Of a receiver for the
-. Pf+-sbure Terminal added 10 its difficulties.
:. .s-nugs Of 1his road. by the way, fell on 10
:, csrr- fo- the month CT April. No road could
,,s, sbj7g under those conditions
T,,- an authoritative source it is learned that
-. xNpgN notes maturing on August J. which
- rsran;eed as 10 both principal and interest by
:. Esbssh Railroad Company, viii be taken care
1bat company, which probably viii issue its
r- 71,ss in exchange for them, although in some
,.,-ss il e said that they will be paid of when
5s IN exchanging the notes for its own obliga-
ms ne Nabash would take over the security for
~ -rss consisting Of So 06o 600 Wheeling &
L f0T7 fe
vssssh i Viii be remembered, owns the entire
-,s-, sock of the Wabash-Pittsburg Terminal
psavsr Co-nuary. which in 1904 acquired con-
,-sTnr Interest IN the Wheeling & Lake Erie
.ssa rre roads giving the Gould system an en-
rsn,e uu P5rtsburg.
i is u5-gtood that Western Maryland is not
-asisi Tie proposed plan for consolidation OF
ihs HbAazg & Lake Erie and the Wabash-Pitts-
ksz 7azhlal Railway into a single company, out
i not believed that the Western Maryland,
GrE 10r anizst tio1 viii cease TO form part OF the
3zes gvvtem That Nj. Gould has abandoned his
r-es- q constructing new line from Pitts
II 70 connect the Wabash system with the
zsEn Maryland and thus TO form an au-Goulo
= between the Pacific and the Atlantic there is
M ground for believing, and his giving up Of
z Tlan. Tor which he is said 10 have substituted
= uu-pose Of using the tracks Of some existing
rzt between PItts5Urg and point on the West
z Maryland is reported 10 have been the chief
sss q the reconciliation between him and Nj
zzrtnan z report. which. Il accurate would sug-
r. that the Baltimore & Ohio tracks would be
- as the connecting link
his assumed by Wall Street, TOO. that the West
II Pacific extending from Salt Lake City TO Oak
Z. opposite san Francisco. Will upon completion
y oser severe competition TO the Union Pacific,
s.h also reaches san Francisco by way Of Salt
lzEs CRY, but that something in the nature Of a
gzlsnen's agreement viii govern the operation
ras TWO roads.
sps are being taken for forming protective COM
trses representing various classes OF security /
hcss o. the Wheeling & Lake Erie, but these /
s-1artess have not yet been made up The stocks I
fle Gould roads were not greatly affected yes 1
e<y BY the Wheeling d Lake Erie recelvershlp, 4
'ta A2d been generally looked for The common 4
s1 f-st Irsferred stocks OF that company, on 4
sz q Only 16J shares each, lost respectively |
"a points, and the second preferred, on sales Of
lElares declined points. Fractional net changes 4
sScTsa il Missouri Pacific, Wabash and the Den
V Rio GranGe issues