Modern battles of Trenton .. . f the Phila-delphia and Reading was located. It had no assets apart fromthe Philadelphia andReading; it wasplainly a wheel withinthe Philadelphia andReading wheel. Thesame day this incor-poration was made,other officers andagents of the Phila-delphia and Readingformed the Port Read-ing Construction Com-pany, which imme-diately entered into acontract with the Phil-adelphia and Readingto build the PortReading road, and$2,000 was the plainlyinadequate cash capital with which it commenced business. To the insignificant, dependent and irresponsible railroadcorporation
Modern battles of Trenton .. . f the Phila-delphia and Reading was located. It had no assets apart fromthe Philadelphia andReading; it wasplainly a wheel withinthe Philadelphia andReading wheel. Thesame day this incor-poration was made,other officers andagents of the Phila-delphia and Readingformed the Port Read-ing Construction Com-pany, which imme-diately entered into acontract with the Phil-adelphia and Readingto build the PortReading road, and$2,000 was the plainlyinadequate cash capital with which it commenced business. To the insignificant, dependent and irresponsible railroadcorporation which was thus formed and whose line was to bethus built, the Jersey Central Railroad soon afterwards delivereditself, with its more than forty tributary roads, ils capital stock of$30,000,000, its assets of close on to $70,000,000, its greatwater-front franchises, its stores of rolling stock, its depots andlocomotives and workshops, under a lease, the observance of theterms of which was guaranteed by a $2,000,000 bond of the. Robert Adrain. 392 MODERN BATTLES OF TRENTON. Philadelphia and Reading ; aid when the papers had been com-pleted the leagued roads were ready for the j )int business thathad brought them into alliance. Even after the plans had beenperfected there were yet weaknesses about them that left themopen to attack, and for the purpose of curing them the alliedcorporations offered to the Legislature of 1892 a bill legalizingthe combination. Ex-Congressman Miles Ross, then the mostconsiderable political factor in the middle section of the State,managed the coal market in New York for the Lehigh Valleyor the Philadelphia and Reading, and the passage of the act wasentrusted to his skill and discretion. When the newspapers made announcement of the alliance andexplained its purposes and results, the people of New Jersey be-came restive, and there was no end of clamor for legislativeinterference that would overthrow the combine. Soon after theopening of the Legislature
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Keywords: ., bookcentury1800, bookdecade1890, bookidmodernbattle, bookyear1895
