New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-01-27
CHESAPEAKE CONTROL
ny H4WLEY SYNDICATE.
Kuhn. Loco 8 Co. Sell Neraiy Half
4be SfOck-ROad To Be Built Up.

,t-or ~ the Chesapeake & Ohio Railway Com
=. II was harmed yesterday, has been acquired
-. KUHN Loeb & Co. by a syndicate headed by
-, +5awley who. with his associates month
= I'D the Colorado & Southern Railway TO the
-N,.oro Burlington & Quincy, receiving payment
: mont slS o. 400 in cash. The present transac-
son involves the transfer Of about two hundred
= fo-4, thousand shares OF stock. which. figured
" -, closing price in yesterdays market, would
81 the cost to the Hawley syndicate s15.27oOoo
-~e holdings % Kuhn. Loeb & Co. are the Isl. 800
.res which they purchased from the Pennsyl-
&c Railroad Company in December 1906: and in
5f-so- 70 turning over this stock they have acted
- The New York Central and for various foreign
to,da-s In disposing Of their stock also to Mr..
Elsv-5ev and his associates
IS 4avleys intentions in regard to the future
= ,he road we're subject Of interested conjecture
.es,eraav in Wall Street, the general impression
- that he would retain control for some time
- develop the Chesapeake & Ohio as he had the
.lorsdo & Southern. building il up into attrac-
tive property; and by and by would dispose OF Il
- come larger system.
The Chesapeake & Ohio operates line ! s41 miles
4. length extending from Washington and from
N-srrort News 10 Cincinnati and 20 Louisville 1t
I---5nnarily a soft coal road. and reports OF its
connective acquisition of or purchase by some
.be- road through which it would gain access to
~ territory % the Middle West have frequently
,esn current the latest ruTnor OF the sort having
So, that Il would take over the Cincinnati Hamil-
=, & Dayton. report promptly denied by its
president
n has also been runored in the past that the
,7--e,ssEe & Ohio and the Erie might Jointly
,.sse the Cincinnati. HAMILTON & Dayton. and in
INC quarters yesterday il was thought that Mr.
xsouley might be planning eventually TO acquire
,-ol Of the Chicago, Cincinnati q Louisville
$50 q mart of the Cincinnati, Hamilton *
r--on system and 10 form with II through line
-, the Atlantic seaboard 10 Chicago. intersect-
g. she Toledo. St Louis & Western and connecting
= chicago with the Chicago Alton now q
.Hawley road s..
- Nr Hawley's associates in the purchase
. 4ba chesapeake & Ohio are understood 10 be
rank TrtIrnbull, who is soon 10 retire from the
s4asrcv Of the Colorado & Southern Railway
: "a scott Of Richmond and Robert Fleming, OF
4o,son who Is now il this city representative
"a r,,rTsb holders OF securities Of the Chicago
e-s,, western Railway Company. engaged IN work
a., out tie final details of the plan for the reor-
ganization Of that property, and who has wide
-snatation among English investors as an author-
o. on railroads IA the United States Messrs AaW-
lev Irurnsur and scott recently MADE an ihsectoi
,-fn over the Chesapeake & Ohio's lines in COM
Any with q ". stevens who has oeen president
~ the road since the retirement of NJ L ingalls, IN
Y7s-7zarv 1850; and it understood that they were
4s,-shIy impressed with physical condition OF
the system
T7,e chesapeake & Ohio has So. 79s, 100 capital
cock Sc that the 81 eeseoo par value bought By
the Hawley interests does not, unless combined
zrh other stock which Mt. Hawley and his friends
my have acquired elsewhere. amount 10 an aoso-
Lutte majority although it is virtually equivalent TO
control AT the time or the sale Of the Pennsyl-
vsHiazz holdings Kuhn, Loeb q Co. the STOCK
vas selling in the open market at q little below %
snd the bankers are believed to have paid about
that figure for their holdings, which the PennsyI-
rania had acquired several years previously IN
rursusnce OF its policy OF establishing 'conTnu-
aity Of interest
IN the psnie DAYS Of isr it sold as low 2S14
and its lowest price in 1853 was 8iz in February
gTe stock hes been very strong Of late, and yes
fsrdsy touched g. Recently the company sold to
Kuhn Loeb & Co. and J. P. Morgan Co. 1lG0Vo
reEe-al funding and Improvement mortgage bonds,
OUT q the proceeds Of which the $4,000 per cent
notes maturing July will be met
The principal stockholders OF the Chesapeake &
Ohio according 10 a recently published list as OF
guiy lest were s sIegman and E s Steinan'
each s5eOoo; s. Hayman who. like the two fore
going is understood represent Kuhn. Loeb *
Co. s. <o,soo; ". K Vanderbilt, trustee, Soo9coo
z Y W Rossiter, who is associated with the Van
Serbilt interests 10000; Higgins Clark, of
Londou ysi2a 900. Leon Brothers. London, $slAoco;
an Amsterdam banking institution. 2.4lseoo: L. s
suapp New York g oeo.eOe, and J. II oiiphant &
Co. New York, $4,000