New-York tribune., 1911-12-08
NEW YORK CENTRAL GETS
CONTROL OF THE 0. & ".
Public Service Commissions Ap-
provaI of Years Biggest Rail-
road Deal Expected.
BUYS FROM THE NEW HAVEN
Applies at Same Time for Permis
sion to Purchase the Harlem,
Which It Now Operates.

lodged with the New York, New Haven
& Hartford since 1904 has been secured
by the New York Central, which has
purchased the majority of the common
stock Of the road. amounting TO S2l,-
10000. out of the $5S113,9S2 out
standing from the New Haven com
pany.
The acquisition of this stock by the
New York Central, which is regarded
as the most important railroad deal of
the year. is subject to the approval of
the Public Service Commission, but il
is not believed that that body will offer
any objection to the transaction. The
New York Central il was learned made
application TO the commission on
Wednesday for permission to carry out
the deal and at the same time requested
permission 10 purchase the S1O,0OO.O00
stock Of the New York & Harlem Rail-
road. which il now operates under
lease
The terms of the purchase of the New
Haven's Ontario & Western stock by
the New York Central were not made
public, but il is understood that they
in~lude the turning over to the New
Haven of full control of the Rutland
Railroad, half of the stock of which it
acquired early in the year from the
Central The New Haven paid SO a
share for it's Ontario & Western stock.
which is now selling around $40 share.
1t is not known what the New York
Central paid for this stock, but a
prominent director Of the New Haven
said yesterday that his company would
not lose anything on its original invest
ment on the deal. He added that the
New Haven had not disposed of the
stock for financial reasons. but to pro-
mote friendly relations now existing be-
tween it and the New York Central
Roads Friendly to Each Other.
They wanted the road and thought
they could do better with it than we
have done" he said "and we consented
10 let them have il. Our purpose in
purchasing control Of the property was
TO gain access TO the anthracite coal
mines so as TO protect our interests in
III distribution Of coal in New England.
and in that We were successful This
necessity no longer exists. and we there
fore had no hesitancy in turning over
control Of the property to the Central.
particularly as our relations with that
road are very friendly"
report that the New Haven would
Sell the Central New England Railway
and retire east of the Hudson River
completely. this director said, was with
out the slightest foundation. The New
Haven, he declared, had no intention
OF parting with that road. which crosses
the Hudson River over the Poughkeepsie
Bridge and connects with the Ontario &
Western at Campbell Hall, y. Y, but
on the contrary, looked upon it as one
II Of its best subsidiary lines
If. as is understood to be the case
the New Haven receives in part paw
ment for its Ontario & Western stock
the remaining half Of the Rutland stock
owned by the Central. this deal will
prove OF equal benefit 10 both companies
The New Haven needs the Rutland 20
offset the invasion Of its territory by
the Grand Trunk Railway of Canada,
which has extended its operations in
New England in the last year by ac-
curing terminals in Providence, r. l.,
a move that the New Haven did its best
Il prevent. Through its ownership of
the. Rutland the New Haven will have
Ia own line 10 Montreal, which will be
an effective counter-irritant 10 the Grand
Trunks terminal in Providence
@. & w. Trains May Reach City.
on the other hand the Ontario &
Western. while in no wise necessary 10
the Central works naturally into its sys-
TEN. being dependent for its running
rights over the tracks of the West Shore
Railroad. south of Cornwall, for its en-
trance into New York harbor. 1t is be-
lieved that ultimately the West Shore
will be connected with the New York
Central's terminal in this city by means
of q tunnel under the Hudson in the
neighborhood of Sputen Duyvil, plans
for such a tunnel having been drawn
nv the Central management in connec-
ton with the company's plans for its
west side freight terminals, which would
enable both the West Shore and the
Ontario & Western 10 send passenger
trains into the Grand Central station
and also to run freight trains down the
west side Of the city
The probability Of this tunnel being
built. IL is thought in railroad circles,
NAV have determined the Central 20
ACQUIRE control Of the Ontario & West
ern. which up 10 the present il has
shown no particular desire 10 purchase.
although for some time il held an op-
tion on the majority stock Of the road
owned by the New Haven. This op-
t;on expired on January !, 1911, and,
so far as is known, was not renewed
although there have been rumors from
time 10 time that the Central had OBJ
tained an extension of the time in
which 20 take over the stock.
II is believed in railroad quarters that
~ relinouishing control Of the ontario
H. Western TO the New York Central
the New Haven viii get more business
10 and from New England and the West
than has been the case under its own
e,sbip Of the road. through the general
traffic which the Central is expected
10 throw upon It's newly acquired line
which. rs alre3dy stated, connects with
the New Haven's subsidiary the Cen
tral New England Railway, at Campbell
Hall, " Y.
Important Anthracite Road.
The Ontario d. Western extends from
Weehawken. n. J., to Oswego. on Lake
ontario with branches 10 the Pennsyl-
en1Ac nlthnnch frnnn Woe