The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-09-22
This is the Latest Report in
Railway Circles.
Will be Allied With Great
Trunk Lines.
Financial Circles are Informed that
Edwin Hawlcy Has Purchased the
Interest of the Erie, Lake Shore
and B. & o. i'm the Local Lines.

Practically Ohicial c0nhrmatlon was
obtained yesterday of the truth of the
report that Edwin Hawley controlling
spirit of the chesapeake and Ohio
and b. and o., the three-sixth con-
troll of the Hooking Valley, had pur-
chased from the Erie, the Lake Shore
and the b. and o. the three-sixth con-
troll of the Hooking Valley, owned by
them, and will use that line in con-
nection with the Kanawha and Michi-
gan for northern outlet for the G.
and o.
Hawley's associates in New York
would not admit yesterday that
definite results had been brought
about but 1t is believed here that con-
troll of the Hooking has changed.
The five railroads have been inter-
ested in the Hooking Valley since
June 1903, when syndicate formed
by ]. p. Morgan and Company de-
livered to the five trunk lines $6,924,-
200 of the common stock of the Hook
ing Valley out of an Issue of $11 ,000,-
900. The stock so purchased was
bought by the issue OF s7,270,410 of
three year five per cent participation
certificates, due June, &c. 1906, being
secured by the stocks purchased. The
certificates having been paid at ma
turity, the stock was divided among
the five trunk lines and the Hooking
Valley policy has since been directed
by an executive committee composed
of the representatives of the five
roads.
In addition to Its own property the
Hooking Valley owns all of the
SS,421 900 bonds of the Middle States
Construction Company, which are Sc.
cured by the deposit Of all but about
$4,000 of the preferred and $4,000 OF
the common stock of the Toledo and
Ohio Central Railway, about 61 per
cent OF the stock of the Kanawha and
Michigan and practically all of the
stock Of the Sunday Creek Company
which, however, it transferred about a
year ago to the Central Trust Com
pany of New York.
Through the ownership Of the T.
and o. c. 1t also controls the Zanes'
vile and Western, thus controlling
In all about LOSS miles OF trackagt
and the largest coal company in Ohio
1t is said that Hawley was unabel tt
obtain the s2,30S.0O0 of common stoci
of the Hooking Valley owned by tn,
Panhandle and that by purchasing
the open market he has obtained
enough stock to give him contro
with the purchase of the s3,462 ,O0l
held by the b. and o., the Lake Shor,
and the Erie. It would thus requir,
the purchase OF but little less thar
100000 of stock in the open marke
to give control TO the G. and o. will
its own holding OF the stock and thu
shut out the Pennsylvania. II is sal,
that theS threat of building a Hawle.
line into the territory of the Erie
b. aud o. and Lake Shore was use,
to compel the sale by these thre,
roads OF their stock.
BY this purchase tho ChesapeHk,
and Ohio acquires short line t.
Toledo and insures the shipments
over its lines of the important traffiS
tributary to the Hooking Valley sys
tenn. When that system and the
Chicago, Cincinnati and Louisville
are taken over. the Hawley system
will have total length OF $500 miles
extending from the Atlantic to the
Mississippi and the Missouri and EN-.
bracing the tobacco, timber and min.
eral lands Of Virginia, West Virginia
Ohio and Kentucky and the wheat
fields Of Iowa. Dakota and Minnesota
besides such important business cen.
tiers as Newport News, Richmond
Washington, Louisville. Cincinnati
Columbus, Toledo, Chicago Peoria, st
Louis, Kansas City, Des Moines, ant
Minneapolis Through traffic agree
ment with the Kansas City, Mextcc
and Orient II will have. an outlet e
the Pacific by the shortest line from
Kansas City. For the traffic of thu
country served by the Iowa Centra
and the Minneapolis and st. Louis Il
will have another Pacific Coast outle
at Portland, an arrangement having
been concluded for the use OF tn,
Northern Pacific, Hill line, upon tn,
completion OF an extension from
Leola to Bismarck Nr
Hawley's control OF the Hockin,
Valley is OF great import to the Tole
do, st. Louis and Western (Clove
Lead, which, with the Chicago ant
Alton, Is controlled jointly by Hawle,
and Theodore p. Shonts. BY the al
lance with the Hooking and Chesa
peake and Ohio systems the Glove
Leaf will have direct outlet to tn
seaboard. as well as its outlet to tn,
Canadian trafiic-producing centers vii
the Detroit and Toledo Shore Line
which the Glover Leaf owns joint,
with the Grand Trunk. Besides tn,
Glover Leaf may be counted as par
of the. probably coast-to-coast route.
Edwin Hawley has been a par
owner of the Clover Leaf for many
years and he doubtless had in mind
n~..4.~t