OCR Text |
Show FIGHT FOR CAR LINES IN GIICAIG0 Baltimore ft Ohio Railroad Co. , MaKe a Determined Effort to Secure Control of Terminal Properties. CHICAGO, April 5. The fight for the properties of the Chicago Terminal Railway company is now on. The property prop-erty has been in the hands of a receiver re-ceiver for some time , and measures were adopted recently to foreclose the mortgage of $15,000,000, which is the bonded indebtedness, of the company. The property is advertised to be sold May 3, 1907. ' March 30, the Baltimore & Ohio and Chicago Railroad company filed a petition peti-tion in the United State Circuit court asking leave to assume the bonded indebtedness in-debtedness of the company of $15,000,-000 $15,000,-000 and accrued interest for two years. This would. give the Baltimore & Ohio interests complete possession of the property and it would be in a position to oust all other tenants except the Chicago Chi-cago Great Western, which is operating under a contract made prior to the mortgage, and cannot be disturbed. The Baltimore & Ohio interests claim their action is simply one of self-prn-tection, as under their contract, the , new- owners of the property will have the option of taking over or rejecting the lease under which tfie terminals are being used. The Terminal company com-pany takes a different view of the matter mat-ter and yesterday, through Jesse R. Barton, general attornev, filed, an answer an-swer to the petition, asking the court to deny the plea of the Baltimore & Ohio on the ground that if it is allowed to assume the entire bonded indebtedness indebted-ness it will have a tendency to stifle competition when the property is offered of-fered for sale. |