A Big Railway Deal
New Yokk, Sept 3.- A preliminary contract was signed yesterday whereby the Baltimore Ohio railroad passes under control of a syndicate composed of J. S. Morgan & Co., Baring Bros. & Co., and Brown, Shipley Co., of London, and Drexel, Morgan A Co., Brown Brothers, and Kidder, Peabody A Co., of New York, and Drexel & Co., of Philadelphia. The Iatter agree to supply $10,000,000 to liquídate the floating debt of the road, and propose to do all in their power to remove existing antogonisms and insure the permanent working of the line in harmony with other trunk lines. It is stated that the sleeping-car system vlll be controlledbythe Pullman Company; that the Western' Union will take the telegraph business, and that the road, " when divested of all extraneous enterprises, will be operated practically by the Pennsylvania railroad."
Ann Arbor Register