Democratic Sentinel, Volume 11, Number 32, Rensselaer, Jasper County, 9 September 1887 — THE RAILROADS. [ARTICLE]

THE RAILROADS.

A New York dispatch says that after a long conference of capitalists at the office of Drexel, Morgan & Co., the following was issued by the firm named: “A preliminary contract has been executed between the Baltimore and Ohio Railroad Company, Baring Bros. &Co. and Brown, Shipley & Co., London, and their allied houses on this side. This contract provides for the negotiation of $5,000,000 Baltimore and Ohio consolidated 5s and $5,000,000 Baltimore and Ohio preferred stock, for the purpose of paying off the entire floating debt ot the company and placing it on a sound financial basis. The conditions are as follows: L The verification of statements, etc., as made. 2, That the man-

agement of the company shall be placed in competent hands, satisfactory to the syndicate. 3. That satisfactory contracts shall be made between the Baltimore A Ohio and the other roads for the New York business, which shall remove all antagonisms between them on the subject, and insure the permanent working of the Baltimore A Ohio in entire harmony with the other trunk lines; also avoid the construction of expensive parallel lines north and east of Philadelphia. The houses interested on this side are Drexel, Morgan A Co., Drexel A Co., Brown Bros. A Kidder, Peabody A Co.”