Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1912-01-22
AEW news Of YESTERDAY
Turning Point in History Of Two
Great Railroads.
How Joseph e. sheBield's Sale Of
steek Affected the Future Of the
Now haven and the Boston q
Albany Lines.
5y e. ]. EDWARDS.

When the late William Bliss be-
came. in 1880. president Of the Boston
& Albany railroad, then the biggest
transportation line in New England.
he went to work very quietly but very
energeticslly to obtain for that rail-
road through line from Boston 10
New York. and make II a competitor OF
the New York New Haven & Hart,
ford for through business between
New York and Boston, on which the
New Haven slime, then just beginning
10 come into the field as great ma
tional system. had monopoly. with
that end In view he made plans to get
control of the Canal" railroad.
The Canal" railroad vas the crea-
tion OF the late Joseph E. Sheffield,
the founder OF the Sheffield Scientific
scbool one Of the leading departments
OF Yale university. The roed-o6icial.
ly. the New Haven & Northampton
railroad-ored the name By which 1t
was popularity known to the fact that
It followed the line OF the old New
Haven and Northampton fMass) ca
nal. OF itself of minor Importance.
The: Canal railroad. became of great
strategic va1ue:as link 10 the project
ed Boston &.Albanr through line to
New York. Connecting with The Bos:
ton 3 Albany at .Wsstheld,' Mass. II
you'd. serve to extendr.th the. Boston &
Albany to ,New Haven Thug. the com,
pIetlon Of . through, line: to New York
from Boston would involve the con.
struction OF only. about 10. miles OF
new railroad, parhlelinz. the New;
Haven road between New Haven and
Now York.
In the latter part OF 1880 and the
early months of 1881 purchases OF
New Haven & Northampton stock
were made. in the open market fer the
Boston Z. Albany interests. The stock
was tho selling al from about 80 TO 80.
4 few years previously; had sold AZ
lor as 49, The road had not been
paving dividends regularly. but only a
little before this dividend OF four per
cept. had been declared.
There were some !, vague rumors
about these purchases, but.thertcaused
tina directors Of the ,Naw.. Haven no
alarm. It - understood that para
graph which appeared about March
1891. IN q paper published IN Spring
field. Ma S.: President Biiss's home.
first aroused the New HaEen peoples
suspicIons. The writer Of the para
graph appeared to have inside infor'
nation, and the directors OF the New
Haven by some cautious inquiries
quickly convinced themselves az to
what Boston & Albany interests had
In view.
The discovery gave them big
fright. For years they had beer
haunted by the bugaboo OF parallel
railroad between New Haven aud New
York. and here It was about to be
materiaiized an part OF a new
through line from New York to Bos
ton.
There were some hurried consulta
tons, and then some OF the New
Haven directors went to see AIr. shet
field. Mr.. Sheffield. who was then .
man OF advanced age. owned about
one.half OF The s246o.ooo OF the capt
tai stock OF the New Haven g. North
smpton railroad.
will you sell your Canal railroad
stock" his callers asked.
Yes. az my figure"
What Is that"
par value, one hundred dollars q
share" ~.
YER rell. We will buy it noT.'
4 few days later to the great as
, ,unishment OF President Bliss and the
Boston &. Albany interests. which had
been dickerins With Mr.. shehield for
his holding. the stockholders of the
Canal railroad elected new board OF
directors, a majority OF whom we're
. identified with the New Haven SIS
tenn; and the majority OF the stock
vas voted b. capitalist who, al
: trustee for the New Haven, had bought
from Mr.. Shefi eld at the latter's own
terms. a controlling interest in the
Canal road at cost Of S1.2o9,S00.
This Was the turning point in the
H;story-of these tvo roads. To-day The
New Haven practically controls al
New England transportation. while the
Boston & Albany has lapsed into the
! condition OF leased railroad. and ii
noa' indirectly part Of the general Ae1
Haven railroad family.
! Copyright. 1911, b. e. I. Edwards. Al
Rights Rss.rTsd)