Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1868-01-09

From the Albany Journal w.
Thee ayc various rumors afloat concern
In. : nav scheme Of railroad consolidation,
eciipsing ia the magnitude Of the interests
involved, and in the far reaching effects 1t Is
designated 20 accomplish, anything before
attempted in this country s, realiz ne
taa splendid scheme imagined by Sir Nor
ton Peto, the English banker, shortly be
fore hi. disastrous failure.
Those who have watched the proceedings
Of the S,ocs Boards fJr some days past,
cannot have failed 10 observe significant
movement IA New York Central, Michigan
Southern, Harlem and other securitie. =
Even the Ere has noi been unsh c'sa -
This Is due 10 the premonitlon- wh'oh
s-arp scented public havs OF i@ssh minR
changes, which cannot fail to bear upon the
valuc OF those stocks. :. -,
II was recently announced That Mr.. van
derbIlt had secured something moro than
thirteen millions ofproxies OF the New York
Central, and that, in his letter accepting
them, he stated that he would vote upon
them AS upon his own stock This insurea
the character Of the next Board Of Directors
and makes ii certain that Mr.. Vanderbilt
will be its next President The we'll known
executive ability and dauntless enterprise
of this prince Of railsay managers give a.
surance that the change OF management
will be followed by some comprehensive
plans Of @ ancial and commercial reform.
When Mr.. Vanderbilt took charge Of the
Harlem il was generally believed, or .,
least feared, that he would make it . mere
tender TO the Hudson River, which was
Ill AT -,
But results have not justified this appse-
hension. On the contrary, while the bust
ness of the Hudson River has so increased
- TO warrant . large addition to its nomI-
nal stock, the Harlem, before dead failure
| . dead failure ms IN Investment, has been
made a good paying road through the
shrewd development Of its local business.
Naturally there is desire on the part oil
stock holders that the same energy. tact and
skill which have been applied 10 the line in
| question, shall be enlisted for the benefit o
the New York Central There 10 no reason
why this magnificent thoroughfare should
be used % . mere stock jobbing inaohin,
for the benefit Of Wall street operators. I
has every element that can conspire 4
make il one Of the best paying roads 10 th,
country, nd il anybody can bring abou
such result, Mr.. Vanderbilt will probabl,
do IT,
But tho scheme forecastcd goes furthe
than . mere change in the direction Of III
Central, and supposes . consolidation o
that line with the Harlem, and close con
nection with ono, and perhaps two, West
n roads This would make an unbroksl
me Of communication across the State, ant
TO tho great masts Of the West, with bar
mony Of management and action. Will
such On association would create . mos
powerful moncyed interest. and woul'
greatly promote the interests Of stockhOld
ers, it 10 maintained that it would reall,
advance the interests Of orwarders, and Q
the travelling public.
Az We have said. the rumors upon thi
subject are vague, and consist rather Q
hints 40 10 what may DO done, than Of de-
tails setting forth any plan. But We shs
soon know precisely what 10 intended. Th
first step will be 20 put Mr.. Var derbilt, an
those whom be desires to act with him, q
tho head Of the Central Board Of Director
Thon the Legislature will b asked for
law authorizing the consolidation, in til
form which may have been determine
upon. That the topic will be one Of grss
public excitement. may be inferred from III
discussions which have already been ha
by the Congressional Convention regardin
proposed clause TO prevent such combini
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