The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-01-27
HANLEY SYNDICATE
CONTROLS c. & D.
S24,0OO,O0O of Stock Is
PurChaSed-Deal Con-
hrmed.

By the purchase Of approximately
$24,0Ce,000 Of its stock, the control Of the
Chesapeake and Ohio Railroad Com
pany has been transferred to Edwin
HaWley syndicate Of New York Con-
tirmation Of the report Of the deal has
just reached local financial circles al
though the personnel Of the syndicate,
outside of Mr.. Hawley, is not known
The control Of the Chesapeake and
Ohio, which is one of the trunk lines
passing through Washington, has been
he'd by the Pennsylvania and New
YOrR Central companies. In addition
to purchasing the stock holdings of
these lines, the Hawley party also Sc
cured considerable stock held by bank
ing houses abroad. The purchase was
made from Kuhn. Loeb &. Co, as agents
of the New York Central interests and
foreign bankers.
First Purchase.
Kuhn, Loeb & Co. purchased $15.O00 go
of the Chesapeake and Ohio stock in
December, 1905, at which time IL was
selling around 60 IL the open market.
The holdings Of the New York Central
amounted to S5,Oo0O0O, while 81, 10000
represented the holdings Of the Big
Four. There appeared on a recent list
of stockholders the name Of W. X.
Vanderbilt trustee, holder of 5000 900.
It is understood that the HaWley in
terests have secured elsewhere enough
additional stock 20 hold control.
At present, the Hawley roads are the
Toledo. st. Louis and Western, Chicago
and Alton, Iowa Central, and Mlnnedp-
oils and St. Louis. Considerable specu-
latiOn has grown out of the transaction,
as to whether an effort viii be made
to connect the Chesapeake and Ohio
with any Of these lines. 1t is pointed
-saE de-
Of receivers. the Cincinnati, Hamilton
and Dayton, at Cincinnati and the
Chicago, Cincinnati and Louisville at
Chicago. might serve the purpose.
Not Officially Informed.
Local representatives Of the Chesa-
peake and Ohio company have not been
officially informed of the sale of the ma
jCrity stock and do not know whether
any changes are planned in the manage
meut of the road under the new owners.
& bout the only difference that would be
apt to make itself felt in local cOndi-
tiOus, il is pointed out, would be better
through service to and from the West
iu the event connections are made with
the Western roads now held by the
Hawley interests.
THE sale OF the stock was news to
u.s. said General Agent ". II. GreegOr.
who is the chief representative OF the
Chesapeake and Ohio in washington,
land we have no information as to
whether any changes are planned under
the new management. However, can
not see that the deal will produce many
changes locally one way or the other
Will Be Few Changes.
According to the latest advices re-
ceIved from New York, President
stevens of the Chesapeake and Ohio viii
nos be ousted from his position. and
the general Offices Of the road viii con-
time at Richmond. This Is regarded as
being additional evidence that very few
changes Of any magnitude are con-
tanplated in the management OF the
road although, IL is understood. the
property is TO be considerably improved
Should the Chesapeake and Ohio be
operated as an independent line it is
believed that il win mean much for
the development Of Virginia and West
Virginia, as, when controlled by the
Pennsylvania and New York Central.
much OF the Western freight business,
instead of going TO its seabOard ter
mlnal at Newport News, was sent east
TO the ports of New York and Boston
Under private management . much
larger portion of the Western business
should be diverted to Newport News.
New York dispatches also state thai
Vice President AXtell will be retained
in mis- present position.