The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-03-30
CT LINE FROM
|kEsTO ATLANTIC
apeake and Ohio to Ac-
qgiires Another Connection
Direct to the Lakes
GIVES lit FACILITIES
ENJOYED BY NONE
III Take Over Chicago, Cincin-
nati and Louisville Adding
10 the Extensive Lines Of
the System.

C0mDany IL to take over control OF the
Chicago, CincdnnRti and Louisville rail-
road n soon an negotiations. now pend
! tnx, are closed, according to state
ment Just given out by Treasurer
Dteuart Maclste, OF the purchasing
xQnd.
Practically all the preliminary Ie-
4 tails have been agreed upon. President
Stevens. OF the Chesapeake and Ohio.
bsing now In New York to give them
his personal attention.
The Anal settlement will take place
almoet Immediately after the special
meeting u the stockholders To be held
hHre In the Offices OF the Chesapeake
end Ohio Railway Company April 2s,
: the meeting being called to have the
4 stockholders authorize t37.s00,oo6
bond issue, from the sale Of which
snillcient funds will be provided to
4 procure control Of the road leading into
Chicago.
The Chicago. Cincinnati and Louis
willie road II now in the hands OF a re-
eeiver, having defaulted In the pay
ment OF the regular interest on its
indebtedness. This receivership. how
ever. win be brought to an early close.
It has been learned. and the Chesa-
peake and Ohio has finally closed all
preliminary negotiations to take over
control Of the property Immediately
! thereafter.
Placed In Front Ranks.
- This new tine, together with the
other two reads. the Hooking Valley
and the Kanawha and Michigan. the
c0ntroi OF which will be procured by
fluids derived from the same bond
issue, will give the Chesapeake and
Ohio railway position now occupied
by no other road in the United States
md viii place II in the yery frent
rank OF great Eastern trunk lines.
@ Reaching out 10 Chicago on Lake
MichtKan. with branch extending TO
Toledo on Lake Eerie. with the only
straight line, and consequently the
shortest, from Chicago 10 Cincinnati.
and all these connected with "A road
& rsfltnfax directly TO The Atlantic ~sAkf
with terminals at Newport News, the
chesapeake and Ohio win be In posi-
ttUH 10 procure that Ereut rs,ttsssfr
4 OF east-hourd traffic from the fertile
middle West which IT heretofore has
rot been able 10 handle, while it's
connections beyond Chicago will put
IL I'm close touch with other points OF
great strategic value in the freight
market.
Al the Same tiHsaA IL viii .he able tn
transport with the greatest expedition
and at rock bottom rates a large vol
0l1G III AtSi-UuuEd WINCH StsS
up TO this time been diverted TO ether
channels.
Treasures Statement.
The official statement of Treasurer
s Afackie given out here. whteh now
definitely confirms al the fuu,ors- Of
pending negotiations, and finally sets
at rest all speculation of possible and
probable purchases, is relative first of
ALL to the bond issue. and is as fol-
: lews:
The bonds now offered arc
issued to provide funds, among
other things for the acquisition
OF 4 majority Of ths common
capital stock OF the Hooking al
les Railroad Company, and OF d
eutatanfiai interest iii the capita
stock Of the kanawha ana Michi-
gan Hallway Company. for thS
acquisition from interestg in con-
troll of pending foreclosure prov
ceedings. who have agreed 10 as
Quire the same at foreclosure sale
of the properties of tn. Chicago.
Cincinnati and Louisville Rail-
way Company. or OF SECURITIES
representative thereof, 6r adcI-
tons. betterments anaT1mprovo-
ments. for the purchase of add
tional motive poweF and cuutp-
ment required by the increasing
SSE Qu&AaG82 Oh the company. anu Sf
other corporate purposes.
JAS. STEUART MAckfF,,
Treasurer"
Extent Of System.
The Chesa peaks and ohio railway,
III known - the eastern division of the
Hawley systefn. now operates from
Newport News to Cincinnati over its
own tracks. besides having numerous
& connections and traffic arrangements
With other roads. Its own line aK-
gr1xates about 1000 miles OF track
age.
With the acquisition Of control OF
the three additional roads. however.
this trackage will be increased near
IN 1000 miles, though the increase
@ In trackAGe can, experts declare, by
no means be compared with the In
: crease -of ira iit=M hieh4 will immedi-
Il asely follow the extension OF the
system.
From Cincinnati the road viii now
run directly over It's own tracks into
Chicago; ~ GAwley. w. Va. 1t will
run over the line acquired from the
KanMwha and Michigan Railway Conn.,
pAny 10 Point Pleasant. Ohio. dis
tanca Of about 100 miles. From
Point Pleasant the Hooking Valley
runs in nearly straight line to To-
n fSdO, on Lake Erie, distance o.
~ e0luA 100 miles, and since the Hook
h 1n4 Valley II to be not only con-
q txQlied but finally merged with this
Ghesapeake and Ohio, this latter roao
Mill reach the northern terminal o.
the Hooking Valley without having
" Nv foot or additional trackage.
B0n6Is Already Sold.
OF the total bond isssue Of 337,-
1eo,oeo. which the Stockholders