The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1911-06-30
Has Been The c. A. & c,
Railway With The Pennsy
Papers We're Filed In Co.
lumbuS On Monday
The Earnings Of The c. A.
& c. For The Year

Columbus, Ohio, June 27-The long
expected agreement of consolidation
of the Cleveland, Akron & Columbus
| Railway Company and the Cincinnati
e Muskingum Valley Railway Com
pany, two of the subsidiary lines of
| the Pennsylvania railroad company
| was filed in the Office of the secretary
OF state yesterday.
The agreement provides for the con-
solidation of the Two companies under
the title OF Cleveland, Akron & Cincin-
natl Railway Company with capital
of $12.000,O00, of which Sb,500,000 is
given in exchange for the $4,000,000
capital stock of the C. A. &: c., and $2,-
| 100000 for the S2,000,O00 capital stock
of the G. & M. V. The remaining $4,-
100000 of stock OF the new company is
retained for issue In payment of bet
termentS, extensions and the acquisi-
tions of other railroads. The funded
debt of the roads consists of $1,750,0OO
OF four percent bonds due in 1948 of
the G. & M. ", and $1,000, 900 of five
per cent bonds due in 1927 and ST..
647.0O on four per cent bonds due in
1910 of the G. A. & C.
The gross earning of the C. A. & C.
for the year ended June 30, 1910 we're
$2,665,2l0 and the surplus for the year
$46O,522; the gross earnings of the C.
q NJ. ", for the same period were
around $l,000,000 with surplus for
the year of about $4,000 The c. & M.
". has mileage of 1886 miles sex-
tending from Trinway to Morrow and
Is also owns half interest in the
GAINESVILLE TERMINAL Railway Company.
The company paid five per cent divi-
dends %n It's stock in 1910. The Cieve-
laIiu, Akron & Columbus operates
210.8 miles of line OF which 1t has the
trackage rights on 1860 miles from
Trinway to GAINESVILLE. Its main line
is from Columbus to Hudson, 144.79
miles. with 1855 miles from Trinway
to Kilbuck and branches of 1924 miles
1t owns quarter interest in the Ak
ron Barbefton Belt Railway Com
pany. Practically all of it's stock is
owned by the Pennsylvania, that com
pany having recently acquired the
hmoldngs OF the Dutch syndicate thus
paving the way for the present con.
solidatlon The company paid four per
cent dividends for the pears 1909 and
| 1910.
The general offices of the company
are In Pittsburg and the principal off,
ces In Cleveland. The board OF direc-
tors consists Of nine of whom one, r.
d. McCarty, general superintendent of
the Pennsylvania lines, west of Pitts.
burg Southwest System. is of Colun.
bus. Joseph Wood Is president, s. c..
Scott, vice president, s. b. Liggett sec
retary and L. H. b. Knight treasurer
All are Pennsylvania railroad officials
| with headquarters in Pittsburg. This
is the second consolidation of the sub
sidiary lines OF the Pennsylvania re-
Gently made, the other being that of
| the Toledo, Walhondlng Valley a To-
| ledo and the Cleveland and Marietta
as the Toledo, Columbus 4 Ohio River
Railroad.
/ lt Is said that with the consolidation
OF others OF the smaller lines of the
Pennsylvania in Ohio, new system
similar to the northwest and south
west systems OF the lines west OF Pitts.
burg will be formed In charge of a gen.
eral superintendent, The consolidation
OF the G. A, & G. and the C. & NJ. ".
gives the Pennsylvania Through line
between Cincinnati and Cleveland,
and II Is said that througl passenger
trains will he operated between these
cities by the way Of Trinway and
GAINESVILLE lt also will enable the
pennsylvania to make other changes
in passenger service In The district
affected.
by the recent consolidation Colum.
bus loses her name out OF railroad
with which 1t has long been associated,
but tho loss is Offset by the use OF the
name of the city in the first consolda.
ton. II is probable that the operating
offices of the new company will be To-
Gated IN Cleveland until such time as
the proposed new operating system is
formed.
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