Railroad Doings and Money Shuffle Reshape Baltimore & Ohio
In New York Sept 2 reports show a sweeping reorganization of the Baltimore & Ohio core business with a syndicate led by J S Morgan Co Drexel Morgan Co and Bar ing Bros planning to take control of telegraph and express arms. A $10 million cushion will settle floating debt while Western Union would dominate telegraph lines and the Pennsylvania and Reading lines gain ties to New York. Cassatt of Pennsylvania Railroads is tipped as Garrett successor amid suspensions of Philadelphia to New York extensions and new contracts to ease antagonism across trunk lines. Freight rates face a possible thirty day review with a joint shippers committee to seek fairer tariffs.
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Market Review Reports Nearly Unchanged Conditions
R G Dun & Co reports in a weekly trade review that markets remain largely steady with wheat in good demand while corn and cotton show weakness. Notable notes include resumed operations at the Havana Custom House, a New York bishop's death, and widespread forest fires in Michigan. Drought-affected regions show mixed signals, with uneven cotton prospects and some improvement in dry goods and wool markets. Overall U.S. activity for the week is down slightly from prior periods.
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Bishop Harris Dies at Home in New York After Illness
New York Sept 2 Bishop Harris longtime Methodist church leader died at his home after a monthlong heart ailment. He was born Mansfield Ohio Nov 19 1807 and served as a bishop after extensive missionary work. Funeral arrangements pending with services likely at St Paul Church in New York.
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Havana Custom House Seizure Sparks Public Outcry
The U S State Department reports renewed turmoil after the August 18 seizure of Havana’s customs house by the governor general. Investigations suspended many officials, customs receipts surged briefly, and protests reached Madrid as Treasury and finance authorities face scrutiny amid alleged corruption and economic decline. The report notes dock closures and gasworks at every wharf as part of the upheaval.
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Reform measure eyed as Carlisle to president at Oakview
Wismerox Sept 2 The Evening Star reports a reform plan likely endorsed by the administration. The move involves Secretary Paterson returning from vacation to push revenue cuts and repeal of excise duties, with whiskey tax remaining. Speaker Carlisle tours Washington and will consult the president on the reform. Kingman County tragedy noted in brief.
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State News From Pratt County and Kansas Railroads
State reports detail a Pratt County death by self-inflicted gunshot and a fatal shooting near Idia W. W. Magruder of Spivey involved. Updates cover a surge in newly built railroads, weather forecasts for Kansas and Pratt City, and a Denver Short Line business meeting.
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