, 1870-02-22

cnur rcfeh 10 n1nI tr thnS VII b6at nses"RA.
the Rook Concetn hereafter, heretnfare, tn ihe
pride asd crnoaenoe aud support Of tae Aesho-
BA1LROAD CONSOLIDATION,
Frnr an article IN the last number Of thss North
.4maiean Rfrtsr, By Charles Fiarcls Adan& IT..
We mako ,neAe these extracts on the gsowsh OF
the power Of IsllIo1d Companies In This co1uuy:
The dnI1lktrA'xuK Of Ptestdent 4fapt and III
.esalors ci me Fots,'11.s cooeIsss oPeEed on ~
m.,pcd IL ressson only ntfI tne e.n Of Apn!
Dnr1ng tAst or,ef Interval ample evidence vss afs
Of the P4c.nc RAILWAY, IN retpec: to'h 70 the an
vnlcD rad oceh 10 hocTnty granted b the Ma
uol Al Government for lfs conjunction, and 10 ths
1t.post ton msde Of that I'D through tue mscalne-
! u, sn1tl,arJ to 1ta cot suucton. Known Is the
Ctedit Ao9tiier, had Lot oeen los. upon 80 uooo-
dsIs no ffss 1nAn twenty. y.tnrse blls we're inIYp-
tlot. Of II ooa nsts OF Tailwar whch unslded pft.
appropllarpR To- rho furtntfsuee OF tre wark
~ 2la $50 sl1es ot tho rs'iona1 coraln, ueas-
!, one half Of 'ne whole AEoans Of tns territory
pzepIlarons cid BOT ssop here. In certAta eassc
| liberal sabs DIES In money werc also asked, lad
ut DER ne provlsous Of three biIls Alone The gov
Ell ueEt Mss 10 besoue rerpons.b!b tor nearly
seven n1l1ons OF ANIMAL interest o. more thsa o.H
| hnncred aId fifteen millions Of capital iadeused.
neas. Mozr people h&ve heard Of tnN law
which the lato sebatcr Bertou enpnar-ailJ de-
totbea a ~ buu with stamp speeca 10 ia
thsi eacS q tnese s; peaoins measure @ e,seala1 M
wt'sin II the germ Of Credit Mohtlicr- =
The eascts on legislation ikely TO ens1o from
however thcse which most excite the 1ateres: Of
oar neople; asd, 10 Whatever aspect ~e rezard
the euojecr, It fnfDiahe5 bbludaut 100 for fc1.c
t;or+ IRE material, The mora, and tee poil.scll
inleHesc tLyoEed ara fouut to b. lu9epsraoI
COZ, ecssd, and the le,ds to 1he o.ner, so1e
Ct ma AN = m FYfd ftRY
tatl1osd problem . approached. Take, for 10
starce, the phase OF corpors'e coo,ald.tt1u.
IapSI D:e5o .eSa me sns s} i
non OF the Pacific R4uaay has recently p:yeu
picds@9pss Pc @ impulse; II Is onlJ seveateen yeara
lneeperdertt, Inks connecting the au1tou eitn
ne ne ~ lsies ~ o. Eoioh we're as 1s:lac: taen ~
1osds vAs tbs reGuls OF IAtural isw, rahe. tntn
ntaaJ eracsne.t OF the Legislature OF New Torx,
s. soon o sa; sc ne a
to1nlng soms one Of tue con1eciiog itres between
eo, e1r Anioe ss psrsc hysr aqa the At'.stts Y.
rec'ion 1s too evident to Escape osas1vas'on.
could re eounsed on % ss de1ure M @ fe,a,s Ay syeIy
pfon1rent rosd IN the Ras. has been nsr1 4;
xori securing, through consoil4ro1, peroe!uai
a:LRle 1Tnnk ro4u, There are four OF theso
@ Gle.t Foads, Leading 10 tne four A,laat.c sea
The Baltimore i Ohio, farthess to the eoutn.
controlling 10 It's runk line and branches s3 nj es
o. uack represented By hotus $50 900 Of cap.
HNt oos also obsaned tnc Ownership. h1 lease or j
other 1oa1es to Cnclnratl and L.ke Enc, repte.
tenueg 81 miles more Of track aud $4,000 60
aodltioral capital Starting atGesh a. Ctnc,pnsti.
this great company h1s recently enec;ed cioss
conEeci.op9 with chicago aud s. Lolls through
aaen e o. Whiea u ass oo:aited PRACTICAL coatrol
Eaaht Of over $50 tnhcs Ct so.d and Is, ,Ouo, ,o03
q Ircpet'y. IN place u tns ss,ooo,op6 II repre-
Tht, R1oxt5, no erer, IL tEinpg compartd vita
tnat or the Fer nsTsana a Central In 1851 th.s |
sompaoy 1etu.Isd, scootditg TO III balaace saect,
at and mos: powerful ssp4le corooratoa 10 tne
world Within thn last year its deveiopmcpt has
page tn tie history Of railway !ntr CUES and isps.
lat.ve mht1psiaton. E.ry ID 1850 ine Eue Ka,-
,,a Hay apssefs so1ght to cut on the co1aec.
Nishfo II 9 limits OF FeEr'y.saLia. For a br,et
LEE me sasts seemed TO 50 ayaust tas later, but
The company, uhicn IL WIS douottul II it wsre In
tas poA eI Of any igtta;urs to pass wera p1s1td
tn.oasn I1 tos1 Falioo. s'sgrs' and received E.ecu-
tthc;P, airhrGed With tue Ere managers bs Noards
81 DLt cinra were uuexpe:ted rrjected ln meat
pie no4 4eI even thrt atene1 10 w1eat from the Ers
nc ad It's oTn P. cn'tAf AID loEgea.aoluhea cou-
neet!onf. The result OF these opetauols H that
The PecnaJisau.a Ceu,1al now oEna ny psrpetuai
rolnt. IN 70 Wes: and soataEesi 81 ons ii
fsasnea Chicago, bf ac0taer s. Louts and by q
tbud Crclons,1. At led a. apoEs 1t has a. otbcd |
. netwoIk of routes: At Cnlca4olt has formed 4
peIEe:usl least, vita lie ROCK Isand. VS.eh c. car.
f,ea u oirectJ on 70 the esstsru Terminus OF ,hs
Union rae ,1c Ri dlt1cnlt accurately 10 state
elmer tpt mGet o. trsck or the amount OF proper.
y tlclGded 10 thts ssat consolidation; IT Is pioo-
ably ta1e 70 tstima'e the nrss at 800 niles ana
{ Ere hallway has been legs fortunate In its |
enotA tne result ot which no pres .nts Ihs cnti-
EFkfn
1tt csth out Of nn.ted weakrea.. Che record ii
ctftat OF toeSe toaus presents probably tho most
wa.s. The comrlustton connects New Tofk an.t
,Hs ~ Loun p ao9 mllea OF unbroken broad guspe
tsex AZ 70 "a slao pase Etes p.o9tessn the
k:ie Ratwsy. and the depth OF llszep1le into
Mn,cn ia maesge1ent has la len, o. drawn ev.
u eoupatlsoa win osaers. 1t great d;sadvar-
tss1 nge; ~ Sm9nina5. m Is maJ DOW represent sons
tne processes By which tnele have been crested.
sney IT H'sht la.t - Welt 1eprceent tx,cs that
shis Y pstaap. M -. sase t. estimate
Ge11sa! q Nslderbls eomeiaason. ms con. cor j;
ore btad and Al The properly of opo MIN, ~
niles of track, NOW represented By about 9ias- !
oee Of p.esi stsa...l:s III. so.sse1
Hhleh Commodore Esnde1n,lt Is the cen,re a1are,
5t{ ond ne limits Of New York tue Michigan Cen
Nholy on the c!o.eneAs OF their conpecroa viii I
TIL interest; and 10 the South, q great c3n-
1oli6as;en ms .h'en stretches oat 81 branches
thfonGa i've efast1 and 0sef POO nlilcs Of lfacx
from bu1aIo to Chicago. has recently. after ionV
entmSs, :, passed 9nder its pracscs, co-t-oL :
tseoIe c2nne-sior. % ]aln hands viii tue
pacne Railway. Tneao roads nre bolud to. :
Rsi1e5 LEI py 70 sonsods!ion or pespet1al !essea
Fnr En- ne preseut, ho9ere!, they sre welded 10 I
nd y
lhey Appesr United around the d,rec'toa OF the |
Nev Yorf Cen't1l they F~prtseat the contro! or
Of ss Il tse sas e @9Is IL penn aan
kysvAniA Central the consolidation IL complete,
"a ysoTpo,s,on l. TAG senre IL tns else ottas
Interests aIe, hoveser, 80 eastoasly 6roushs 10
BIZ. lives, IL sc.rcelv possible that he viii not re-
na1n the htsf OF the largest combination Of 81.
THU. pIsc.ic.iy, stste lines are done swnv with
y co,poiaNons created b States. Tac ma:hiucsy !
y evlzstlon nsa entirely oorcrown The ays:c+ ot
~ neutsAlifed msuJ Of the randancn,si laws
aMco regulate fne contro! Aod disposition OF r
epopssty T1se. tor izstaree, Tie question Of
alosIcan laV osen Eole jeniou!% % taau ID ID ! !
as e1eotnH 1ae eSesee Gt az
= ded ~ Precautions and asute resnlar:ols on
tlsutes 40 iudeno.te number Of pt1petulues. bat y
ne1 arc ~ perpetnities Of indefinite capacity for
>Io~& lucy SEes N Iact private e%tateS IN =
oos1te msphaeMepL The ttectEo;1tfs c7arRe | =
re Directors change, the ofctaa change bat ine =.
'roperty Of the corporation caanses only 10 lu- .
fease- Thirty JtArs ago there WAS NO corpora y
ion IN 'hts coontrJ Of any KIND mt pol,t!cai | =
Ehch controlled more than sAen1. .oeo Of caplt1l; -
*hNe shss OF the largest railroad coMpsLy was y
efortef at A,3.p, ,395 and the lArFes: gyoss ia- ~
on or Nut such com3auJ at Hs7,2s6 Ten yesra q
aef IN 1~so The capital or no company crc-e'led -
tn1illions: hat IN 1852 the construction acco1nt -
i Of WI reported Al thirty y.nve tnona ani tht p
erred o. tapid growth h.t mat canmenctd. The y
eFeopnhot Of tue lssf ten years 10 this rtsptc. u l.
- been sun1c!entsy dwet upon. I; IS pn,v nccss-
sf5 10 1dd that at the cose Of 1859. the Cnion =
nc1c c:alJtd IN 1e-retrnt uve7 go ooA ono snd "
be Psesc Cahtsal uyer tia 900 Of assets 3nile u
sch Kept EnJasetious unauoscribed stoet capital =
over 3a0 ca0 coo IN the background sraust "a. "a
gre contDRerctes- Meanwhile turing tue sane y
ear, one CORPORATION, owrin9 noth!rS peyocd tse =
n!1 OF t1CRie State, reohrted Siot aI3 90 Of :.
spisd stock and !ndebiedaess, on which during | u
be rrer1u8 year II had earoed grpes lrcoue Of -
se:asls> sucn naA been the psogrets n a:n- !,
lie generator. y
The Trade OF France. u
From tk .Sttr I'ork Enr{d
TIE rofaed ttnde OF France. II II c11ht TO be =. ~
cccrdinE 10 the French historian, " Tnier1 and I u
se srtAt American political essaJtst, Horace -,
fseley, lucify laid doKn In tbs frteune II the y
blloNER twelve points: e.
ttsom Fhs 7Fi!une, Ft5ruary1 1hJ ~
On The conraly, the debate As +in It tne H-.sn -,
cary, al in hehAlf OF tt snIfsEtcr Industry OF -
1& FTeECn. eatAbltaneH fht A. -