Daily press. [volume] (Newport News, Va.) 1896-current, 1909-02-03
IKEW RUMOR ANENT
CHESAPEAKE AND ONO
New York Report Alleges That ca O.
Deal May Not be Altogether
Dec .sive

Dec .sive.
| RICHMOND VA, Feb. THE
! Times Dispatch this morning printed
! the following special dispatch:
| NEW YORK. Feb. 1.-Th" control
of the Chesapeake and Ohio which
was acquired by Edwin Hawley ana
his associates las; week is nj as light
ly held as appeared to be- the COS"
/ last week when the announcement
e the sale to the Hawley synC!ctt
was made.
The svn ,.ca;r il became known to-
day while it cCNtainS man of fnan-
I cial strength and proved tenacity OF
, purpose in railroad deals. such as Mr..
| Hawlcy. Robert Fleming and few
OF Nr. Hawley's associates In Other
railroad ventures. also contains men
who participated in II for the sole
purpose secminly. # making quick
market turn. Several of these men.
il was reported on gooG authority to-
day. have already disposed OF their
holdings, with the ne. result that
while they still hcld by far a later
, block of stock than does any other
group OF men. il will be- necessary
r. il to secure the cooperation o.
cate j. 10 assume hysical control OF
The prcrc.t y.
Holdings for Sale
II is taken for grant"d in we'll in
formed railroad circles that tn" re-
mainder OF the syndicate holdings ar"
tor sale. either in the open nlark",.
If a fair chance for open sale in tn"
market appears. or - any railroad
or group of railroad men willing 10
pay The price. The read does not
ccnnccl up with any road now un Ter
the control of the Hawley party bu'
is, on the other hand. as isolated as
was the Colorado and Southern, which
the IIawley party sold TO he Burlins
ton.
TIL" advantage of its acquisition
by the Hawlcy party accordinly res:
urGn one OF two cOntingencieS-eith
sale of the Hawley holdings a; =
profit or such a development ANA cX-
its operation III connectionw it'll other
Naw,'y reads mutually advantage
GU.
Probable Extensions.
An extension of the system l., con
nee, /; with the Alton d; ChicaE"
Ct the Chicago. Cincinnati and Louis,
Vile, which connects with the Chesa
pcakr and Ohio at Cincinnati. or it
could be made by securing III" Gin
cinna;i. Hamilton ana Dayton. which
would provide Il connecting line be-
tween the Chesapeake and Ohio at
Cincinnati and the T-ledo. ST. Louis
and Western a, Toledo. The latter
would be an unsatisfactory connec-
ton. if it were desired t. secure traf-
fic from Chicago aHd the Northwest.
Fer taht purpose the acquisition or
the G.. G. c. and st. l.. would provide
4 more direct line, but the objection
here. railrcal men say. is t!:at thu
line Is poorly constructed and poorly
equipped. Even after the rad was
aiken out OF the hands OF receivers
ami rcOrganized. they declare, very
heavy expenditures would be neces
sary to put the real in shape tohandle
traffic in large amounts and to ad-
vantage.
May Hold On.
The Hawley people stuck to the
Colorado and Southern until it was
built ~ and male TO lock tempting
to such an experienced railroad man
as James J. Hill. Some of Mr.. Haw.
ry's friends say he can affor.l TO fol-
low similar waiting policy with the
Chesapeake and Ohio. strengthen il,
develop 1t and extend IL until the
road is Of much greater value than
a: present.
But a more definite and immediate
pun POSE. there are reasons to believe.
is in c interpolation.
The Probable Purpose.
The purpose. il is argued. is MOI
TO connect with the other roads in The
Hawley system. for that would be a
very expensive matter and one r"-
qriring much time for proper d"vel
opmcnt. hut 'oSell TO the Canadian
Pacific. which could develop a con-
npction between Chicago AMI Cincin
rati mere easily and speedily. and
which wauid find the Chesapeake and
Ohi0's coal lands OF great advan
'age.
TIL" Canadian Pacific has rec" iy
secured the Wisconsin C.r'Tai. Civ
ing /: a Chicago entrance. and ii Is
known that the management is not
al all risincdircd - oxtcnl is line 8
On this side the border. In certain
seas RS Of the year !: could advaEI-