The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-08
STEVENS RETURNS
FROM INSPECTION
Certain That Deal by Which 6
& O. Is to Enter Chicago
Will Close This Month.
READY TO BUY C. C. & l.. ROAD
chesapeake and Ohio" Straight
Through From Hampton
Roads to Chicago.

! President George w Stevens, of the
| Chesapeake and Ohio Hallway COM
| pany, who returned TO his ONCE yes
to-day morning after an inspection OF
the recently acquired Hooking Nailey
Halfway system. and a conference Win
a number of leading railroad mag
mates in Cincinnati, said YESTERDAY
that 1t was probable that negotiations
FOR the purchase of the Chicago. GIN.
cinnati and Louisville Railroad, ana
It's merger with the Chesapeake ana
Ohio. would be consummated this
month The Chicago, Cincinnati ana
louisville is now in the hands OF re-
ceiycrs, and according to Mr.. stevens,
all that is now to be done is TOR inc
court to order Il foreclosure shla
Banking interests acting in behah o!
the Chesapeake and Ohio are prepared
TO purchase the road outright at such
n sale. and the directors of the Chesa-
pcakc and Ohio have already nnanccd
scheme for providing the money :,
"Unlike the Hooking valley DEAL
said Mr.. stevens, ut VIII be d MERGE ,
outright. The line will be Chesapeake
and Ohio straight through TO chi
cago. We expect through our
afrents to purchase it outright from
the receivers and make II part OF
the system. In the case OF the HOOK
Ing. we have only a stock control
though / anticipate the eventual fner-
ger of that road With the Ghesapeah e
and Ohio
outlet Ia Chicago.
The ACQUISITION of the Chicago, Ctn-
ciunati and Louisville Will give 10 the
Hawley interests its long desired out-
lei nj Chicago while the Hooking Val
lev has already given it another Lake
port at Toledo, thus doubling its pos
sibilities for handling coal westward
and grain eastward, Trauic agree
ments with the Hawley lines west of
Chicago will go far to carrying out
the original idea of Coils i. hunting,
ton, protector of the Chesapeake and
Ohio for trunk railway line from
coast to coast.
Ohio have been called to meet in the
principal offices of the company in
Richmond on April IS. TO approve the
financial plan outlined BY the direc-
tors in New York city last IiIon ~,
which embraces an increase OF the
capital stock of the Chesapeake and
Ohio from s66,000,000 to S100,OOO,0QO,
and an issue OF SSl. 900 IN bonds.
According TO the official call Tor the
meeting the bonds now offered are
to provide funds, among other Things,
for the acquisition OF majority OF
the common stock of the Hooking VAL
lev Railway Company and OF SUBJ
stantial interest in the capital stock
of tho Kanawha and Michigan Rail-
way Company. heretofore controlled
by the Hooking valley; for the &C
uuisition from interests in control OF
pending foreclosure proceedings VINO
have agreed to acquire the same at
foreclosure sale of the properties OF
the Chicago, Cincinnati and Louisville
Railroad Company, or or securities
representative thereof; and for add
tions, betterments and improvements
for the purchase of additional motive
power and equipment required BY the
constantly increasing business of the
company.
Pleased With Inspection Tour.
AR Stevens expressed himself yes
terday as greatly pleased at the pros
poets of the Western extensions and
with the results OF the trip of inspec-
ton just concluded.
Notwithstanding the mass of accu-
INFLATED business AID the necessity
of interviewing the various operating
department heads during the day, he
found time to express his satisfaction
over the outlook for building UP a
great railway system. and TO tell
something Of the details of his tour.
Mr.. stevens was accompanied on his
trip over the Hooking Valley last
week by Edwin Hawley, financial head
of the system, Frank G.. Trumbull,
chairman Of the board of the Chesa-
peake and Ohio. and close associate
of Mr.. Hawley, and number or
prominent railway officials Of both
Eastern and Central-West roads. The
party completed its inspection at Gin
cinpati on Sunday, coming TO that
point from Toledo, at which point Mr.
Hawlcy and his associates turned East
by special train for New York.
There were several important rlil-
way conferences in Cincinnati, the full
details of which have not as yet been
made public, some of them relating to
operating problems, Joint uses of
union stations and bridges, traffic
agreements and similar matters.