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Newport News Terminals Rapidly ‘Nearing Completion. HUNTINGTON'S HANDS ARE FREE Southern Pacific's President's Plans Will be Carried Out With No Opposition—Other Items of Interest. It is reported that the Newport News terminals of the Chesapeake and Ohio Railway will be completed by July 1st, and will be in operation by that date. The cost of these improvements is $2,500, 0. The new grain elevator, with a working capacity of 1,000,000 bushels, is about one-fourth completed Pier 8 which has been remodeled into a com bination grain and export pier, and which is directly opposite the new ele vator, has been completed. The grain conveyor above the pier has also been completed, and the force is busy erecting that part which will connect the elevator and the pier. Grain will be loaded on the south side of Pier §. Some distance below this pier is Pier No. 10, which will be used exclusively for loading bunker steamers. The body of this pier has been ‘built and the sloping trestle has been finished from the railroad yard almost to the water's edge. ‘The work of erecting the trestle on the pier will commence shortly. Be tween these two piers another pier will be started shortly. It will be known as No. 9 and will be an immense double deck export pier, the largest ever built in the country. The Chesapeake and Ohio is making preparations to improve its passenger service as well. About May 1 another daily train will be added to the line between Newport News and Richmond, making three each way. HUNTINGTON TALKS OF PLANS. Collis P. Huntington, president of the Southern Pacific Railway and the New port News Shipbuilding and Dry Dock Company, is now making a tour of in spection of his Ines. While in Galves ton, Texas, Mr. Huntington, said: “We will be taking your cotton away from Galveston over our own ‘wharves this year.” 7 The Southern Pacific has purchased the Galveston, Houston and Northern since Mr. Huntington's last trip to Galves ton. He was asked if the deal for the purchase of the Houston, East and West Texas Railroad had been closed. “There are———~2 details in connection with the azole that are not entirely closed. I believe that these matters will be ar ranged, and I am expecting a telegram within the next two days announcing the ‘closing of the matter. The citiest of thulf coast have paid entirely too muc, ‘attention to the water,” Mr. Hartington said. “They have attached tough importance to the commerce of the ports and have neglected their opportunities for manufacturing” the Southern Pacific pier, now under traction at Galveston, will be one of the finest in the United States. It will accommodate eleven large ships at one time. From New York comes the report that a large number of stockholders of the Houston, East and West Texas Railroad Company had sold their holdings out right to the banking firm of Blair Co., who own a controlling interest in the road. It is understood that the stock wa bought in on a basis of $5 a share, and that C. P. Huntington will be the purchaser.A capitalist who was prominently identified with the Mexican International and other Mexican roads, is quoted as saying that Mr. Hunting ton is now actively ‘engaged In pushing extensions of his roads from Durango toward Mazatlan, on the Pacific ‘Coast. The Crockers, he ‘said, always opposed Mr .Huntington’s plans in this direction. But now that he has a free hand he will carry out his long cherished project. RAILROAD NOTES. Mr. F. L. Marshall, Jr. traveling freight agent of the Baltimore and Ohio, with headquarters at Baltimore, is a Richmond visitor. Mr. George S. Lipp, car service agent of the Chesapeake and Ohio, has return ed from the West.. . Captain C. W. Westbury, traveling passenger agent of the Southern, is in West Point. , Pittsburg traffic officals have agreed on an advance of 25 cents a ton in coal rates from the Pittsburg district to Buf falo and other points north and east, to become effective April 1st. This sharp advance ‘will affect a vast tonnage and bring the rate up to ‘the advance on sea board coal rates, which become effective at the same time. ‘Next Tuesday the Southern is to award contracts for $1,000,000 of track and sta tion work from Asheville to Chattanooga. According to a report from Cumberland the Baltimore and Ohio has planned to build aine from Fairmont, W. Va., to Columbus, O., and shorten its route be tween New York and Chicago 7a or %9 miles. The cut-off between Patterson's Creek and the Potomac will save 4 hours in the handling of fast freight. There remains unsubscribed, for under the recent 20 per cent. stock allotment by the Pennsylvania Railroad, 1.24 shares of stock, which the directors are author ized to dispose of, and which at the mar ket price will net the compan about $20,000 additional. President Imgall, of the Big Four, is to sall for Europe on March List William . Harrity, Winthrop Smith and Silas W. Pettit, members of the Kansas City, Pittsburg and, Gulf reor ganization committee, have gone to Kan sas City In order to be present at the fick of the road at Joplin, Mo., on Mon ay. ‘No confirmation can be had of rumors that ‘within two weeks the Burlington management will announce the refunding of another lot of its bonds, whereby stock— holders will receive valuable subscription rights. A bull pool has been formed in Boston, and is working to advance Bur lington on this story. Interests identified with the property say that their refund ing plans are far-reaching, and that sooner or later a large block of bonds will be sold to take up their present se curities, which carry a high interest rate. They deny, however, that anything of this sort will be done at any early date.
Newspaper Details
Richmond Times
Richmond, Virginia, US
Sun, Mar 18, 1900
Page 5
Full Page
Clipped by
Marina F.
USA 07 Jun 2026
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