New Britain herald., 1927-02-08
THREE BIG ROADS
 i BUY UP WHEELING
N. Y. Central, B. & 0. and Nickel
 Plate Acquire Control
STOCK STILL IS SOARING
Reaches 13O This Morning AS nShorts" Face Ruin by His Spec tac,llar Climb-Loree's Pet Trunk Line is Killed.
Vy The Associated Press.

Line is Killed.
 py The Associated Press.
 New York Feb. S.-Leonor F. Loree, whose proposed fifth eastern trunk line system is believed in Wal street to have been placed Tn ieopardy, if not entirely wrecked by the recent change in control Of the Wheeling and Lake Erie and the strengthening of the Baltimore ana Ohio's interest in the Western Mary land. declined today to comment on recent transfers of stock holdings in those roads.
 Was Opposed to Plan
 Mir. Loree is known to have op- posed the original grouping of east ern railroads into four large systems to be headed by the New York Cen tral, Pennsyl ania, Baltimore and Ohio and Nickel Plate" roads. About a year and a half ago he placed before the interstate com- merce commission what are de- scribed as informal suggestions in which a fifth trunk line was pro- posed, including the Delaware and Hudson, Lehigh Valley and several other smaller roads. By agreement with the I. c. C., no details of this plan were made public, as no for nal application for it's approval bad been filed.
 Eastern Roads Objected
 Executives of other eastern roads made no secret of their opposition to the Loree plan, which is believed in some quarters to have been fac tor in the recent accumulation by the New York Central, Baltimore and Ohio and the Nickel Plate of Wheeling and Lake Erie stocks in which each has obtained about one- sixth interest, giving them joint control. The Wheeling and Western Maryland were generally believed to have been essential units in MT. Loree's plan.
 In banking circles, it was indicat- cd that Mr. Loree was not surprised by recent shifts of stock ownership in the Wheeling and Maryland roads, and it was even indicated that he would not oppose the application for the approval of such purchases be- fore the interstate commerce con- mission. It was not made plain, however, whether he would en- deavor to reconstruct his fifth trunk line system, or endeayor to enter into some traffic or other agreement with the other eastern carriers.
 Loree's Plan Killed
 Announcement yesterday of the operations of the roads allied against the Loree plan also revealed the mysterious story behind the tech nical corner in Wheeling and Lake Erie and the sensational advance in stock of that road and Western Maryland in the last few weeks.
 Wall street awaited approval by the interstate commerce commission, of the Wheeling & Lake Erie plan to increase it's issue of common stock to end the corner that has re- suited in loss of millions to bear traders recently.
 Gigantic Network
 The alliance of New York Central. Nickel Plate and B. & O., providing that the Wheeling x Lake Erie and the Western Maryland will be "neu- tral terminals" establishes gigantic network of railroad lines reaching from Norfolk to Montreal on the At lantic seaboard, with outlets on the great southern lake ports and with entrances to the traffic gateways to the west.
 Gets Coal Field Routes
 Through the maneuver the New York Central secures alternative routes into the union coal fields over the Pittsburgh and Lake Erie and into the non-union fields over the Wheeling and Lake Erie.
 Well Executed Coup
 The new interests in Wheeling & Lake Erie and Western Maryland were victorious in their coup through we'll executed market deals and a private transaction with John D. Rockefeller.
 MT. Rockefeller is said to have held about 95 per cent of the prior lien stock in Wheeling ts Lake Erie, on which dividends had been ac- cumulating for years. A. H. Harris, president of the New York Gen. tral announced that his road had &C., quired lover 95.o00 shares of Wheel ing stock and NJ. J. Van Sweringen made a similar announcement in be- half of the Nickel Plate. George Shriver, senior vice-president of the B. & o. said his road holds "about one sixth interest" or practically the same, amount as the Central and Nickel Plate. Aggregate holdings of the allied roads, the New York Times says, are worth more than scO,0o0,000 than before the Wheel ing and Western Maryland advance on the exchange.
 Two Vital Units
 Transfer of control in the two roads is regarded in Wall street as the elimination of two vital units in the Loree merger proposal. The three cornered coup comes as a sud- den and seemingly effective reply to Loree's recent victories over the Cen. : tral, the Nickel Plate and the B. & o.
 Loree recently bought the Buffalo. Rochester and Pittsburgh while other leaders were pondering over { its destiny. and invaded New York Central territory by buying into Le- high Valley, which, Wall street be- voice with the Central in the Lehigh road.
 Counsel for Wheeling and Lake Erie today planned to ask permis-