The Washington herald., 1909-03-28

Baltimore. March 27.-Financial and in
dustriak Baltimore is just now IN great
excitement over the project for a new
railroad connecting the city with the
West. About the middle Of the week
maps Of the proposed line were pub
lished in the local papers and descriptions
Of the proposed line given which served
TO wake up this sleepy old city In re-
markable degree. II the proposed rail-
road should be built. It will be Of great
advantage 20 the city in many ways. as
well as 10 the builders and projectors Of
the road.
The new trunk line would parallel the
! Baltimore and Ohio practically all the
way from Cumberland 70 Pittsburg. The
Pittsburg and Lake Erie, with which It is
proposed to connect at New Haven. Pa.
/ is a Vanderbilt line. In the management
/ Of which T. =. Hartman has recently
become active
Mr.. Hartman a Factor.
As is well known. Mr. Hartman Is
/ also one of the dominant factors in the
Baltimore and Ohio. and reports are cur
rent that should it be found inexpedient
10 use the tracks OF the Pittsburg and
Lake Erie from New Haven 70 Clarendon,
where connection would be made with
the West Side Belt Railroad. OF Pitts
I burg, one OF the links in the proposed
new system, arrangements could be made
for trackage rights over the Baltimore and
Ohio, whose tracks are only a few hun
/ dred yards distant from the line which
has been surveyed from Cumberland to
/ New Haven.
In fact, the new line would parallel
the Baltimore and Ohio all the way from
/ Cumberland to Pittsburg. and il is be-
l lieved the management OF the latter
would offer advantageous terms for the
use Of its tracks from Cumberland. thus
eliminating the necessity OF building the
extension TO New Haven. The present
plan, however, is TO build 10 the latter
place and connect with the Pittsburg and
Erie.
Plans Wen Known.
Some OF the larger stock and bond
holders Of the Western Maryland. the
Wheeling and Lake Erie. the Wabash
PIttsburg Terminal and the West Side
Belt Railroad Of Pittsburg. which would
form the new combination, have been
acquainted with the details OF the plan,
/ though IT is understood they refrained
/ from indOrsing II until ti.ey learned how
their investments would fare under the
plan.
II was learned to-day that A mortgage
for between SeO00O,0OO and Sl00, 900 900
would be created on the new system
OF this, between S70OO0.0 600 and $50. 900 900
would be set aside 10 retire existing liens
on the properties and for other corporate
purposes. Between S20.000000 and So. co., =
coo would be sold TO defray the cost of
building eighty-three miles Of railroad
between Cumberland and New Haven
and for paying on the companies float
I ing debts, including receivers certificates
and the Wheeling and Lake Erie loan of
about SS.000.000
Il is said the plan has been worked out
| with great care and that those who
formulated Il were guided largely by
experts. who thoroughly examined the
properties and submitted volumlnous re
ports. In a general way, Baltimoreans.
! especially. local shipping interests, in
dOrse the project for a new competing
line TO the Central West. but the finan-
cial community is inclined TO reserve
| judgment until it knows more about the
financial end.