The Richmond palladium and sun-telegram., 1909-08-13
Hooking Valley and the C., C.
& L. Are Being Considered
As Link in Proposed Great
Trunk Line.
CONDITION OF LOCAL
ROAD is AGAINST 1T
However If the Price Made for
The Line Is Regarded as
Reasonable One It Would
Be Purchased.

New York, Aug 13.-It ce. be stat
ed on the authority Of interests close
ly associated with Edwin Hawley that
there are no new developments which
warrant the recent rumor that the
Chesapeake and Ohio is to acquire the
Hooking Valley, which extends from
Toledo into Columbus. Ohio. with
numerous ramifications through the
coal districts to a point on the Ohio
river. This road controls the Toledo
and Ohio Central. which practically
parallels tbs route and covers the
same territory. and the Kanawha and
Michigan, which meets these roads at
the Ohio and runs down to Charleston.
w. Va, connecting there with the
Chesapeake and Ohio. These roads
form system which practically mono
police the transportation system in
that district, their principal traffic be-
ing coal.
1t Was Considered.
While the possibility of the pur-
chase of the Hooking Valley by the
Chesapeake and Ohio was not denied
1t was stated that such a move is not
imminent. 1t is not news that several
times in the past such plan has been
proposed and received serious consid-
Grafton, but an interesting report
ABOUT the story. and one which put a
new light on the matter, is that Mr..
Hawiey has not been the bidder. but
that the advances have come from the
Morgan interests, representing the
five railroads which control the Hook
ing Valley through the ownership of
out Of $11,O0O,OOO common
stock. These roads are the Pittsburg.
cincinnati, Chicago and st. Louis. the
Chesapeake and Ohio. the Baltimore
and Ohio, the Lake Shore and Michi.
gan Southern and the Erie, each of
which owns one-sixth interest, except
the first named. which holds two
sixths. This block of stock was form
erly held in trust. but has now been
to the roads.
A story which has gained credence
IS that these trunk lines are not COM
pletely satisfied with the Hooking Val
ley situation. having been somewhat
disappointed in their expectations in
the development of the merger plans
for the consolidation of the Hooking
and its subsidiaries. The ad.
verse decisions in the Ohio Courts
IN the merger cases do not promise a
happy outlook for an immediate end
ing. Recently the minority stockhold-
ers of the Kanawha and Michigan no
[l1ied the Hooking Valley that if that
road desired the contract for the mer.
ger plan to hold, back dividends out
Of earnings Of the kanawha and Mich
gan must be paid and payments con-
tinued in the future.
These conditions, together with the
ADVANCE to the Chesapeake and Ohio.
end strength to the rumor that the
trunk lines would willingly dispose
of the property, which has been the
source of considera BILE annoyance and
little benefit.
c., c. & L. Purchase.
There has been some talk that tho
Chesapeake and Ohio will buy the Chi
ago, Cincinnati and Louisville. which
'uns from Chicago to Cincinnati. This
Dad was formerly leased to the Gin
Hamilton and Dayton, but was
urned back to the original owners
md subsequently receiver was ap-
pointed. Advances have been made by
he bondholders of this line to the
5hesapeake and Ohio. but the Hawley
interests contend that the physical
Of the line is such that it
would be necessary to expend a large
mount of money to bring it up to
formal standard. and that consequent
y large price cannot be expected.
Is believed, however, in the best
railroad and banking circles
nat eventually control of the COM
ANY will pass to the Hawley syndi- |
ate. Thus far the chief obstacle to a |
onsummatlon OF deal seems to have /
cen a difference as to terms.
Mr.. Hawley could use either or both |
ne Hooking Valley and the Chicago.
lncinnati and Louisville, and inso- |
luch as both seem anxious to sell he |
IN a position, if he sees fit. to play /
ne again another. They would give |
I'M entrance into the larger cities of /
ne Middle West and would be the |
ource OF large revenue derived both |
rom freight originating in that terri
Dry and also from traffic exchanged.
nese hnes. while small in themselves /
ouid furnish connecting links for his |
ystem. which would materially /
trengthen its position as factor in /
ne transportation situation of the /
[iddle West.
FORMER Indian Commissioner Leupp. Il
9 recent maefina nf n