The sun., 1878-12-04
coMuoDoRE GIERISON's Bro tronr
lie Assails the Chicago and Alton Company
with Chnrnctcristic NtRor.

To THE EDITOR OF The SUN-Sr: Nearly
three yenrs ago the Missouri Pacific Railroad
became involved to such an extent that fore-
closure was necessary. Commodore c. X. Gar
rson bought it, and hns been running it ever
since In an economical manner. Released
from the old contracts with the Atlantic and
Pacinc Railroad and the cXpcnsivcnces OF dis
honest and irresponsible employees the con
corn has been making money. The now stock
unlcr the reorganization is only $500 0O0 1t Ia
not upon the lists ol the Stock Exchange. but is
entirely owned by Commodore Garrison. II IL
said that the road is clearing. over and above
all expenses. interest and construction. n sum
equal to the amount OF the capital stock-L e..
100 per cent per aunum.
When Commodore Garrison first bought this
property and set his wits TO work to make It
productive. Wall street did not regard his move
mcnt ms especially significant The Commo-
dore Is well along in years. and with his
enormous wCnlth safely invested and con-
SANITY at ms immediate command. II was sup
pcs"d that he would not care to launch out In
new enterprises.
Il seems. however that Wall street left out
one important iactOr In the prohlcm-thc pug
nacity Of the Commodore. Probably of the
great capitalists known 10 the present genera
tion there is none go emiucntly pugnncious as
he. His life has been one succgssion Of con-
tests for the control " corporations. and in
many OF these his physical courage has been an
80 when the Commodore obtained control Of
Missouri Pacific and found out that he could
make II pay. he was naturally jealous Of conpe-
tition. tn" 81. Louis. Kansas City and North
ern Railroad, the other most important trunk
line IN Missouri and run In harmony with Mis-
eouri Parinc.was threatened by tho Chicago and
Alton with opposition, aud last year line wis
contracted for from Mexico to Kansas City that
would prove direct competition. The Chicago
aud Alton issued $4,000 900 OF bonds and the
| construction Of the new line has been pushed
| forward vigorously.
This aroused the combativeness Of the Com
modor". mud h. began to cast about Tor re-
prtsals. The chief enemy Of tho Chicago and
Alton Railroad is tho Toledo and Wabash
The, Chicago and, Alton, runs nearly
PP@I.h and sog,R from Chicago to -,
w.'-t. hut 1t has dozen Of branches that tap the
! Chicago aud Alton along it, line at various
| that would Otherwise gu 10 Chicago before start
! ing for the srahoard. Tho Chicago and Alton
hud h"en gradually decreasing in earnings
/ owing to this policy oi tho Toledo aud Wabash.
until IL became necessary TO sell bonds 20 pny
even seven per cent dividends. Still Chicago
! aud Alton held "a practical monopoly OF the
! throueh business ON passengers and freight
between ~. Louis and Chicago. aud lhc corpo-
/ ration uuid not b"broken down unlcsshhis was
! Hero the Commodore saw his opportunity.
The Toledo md Wabash held control of tho
| which WIS partly finished. About seventy
mites only were LETT to build, the seet ton being
| already graded. When finished the now line
| N2nu lurhlsi roui" SIN ulrs shorter than
| Chicago ana Alton between ~. Louis and Chi-
cago. II was dmcmt To get ready money
enough tn fn'sh il. Wncn Commodore Gurri-
son mad carefully canyassrd the situation ho
quetly bought enough Toledo nnd Wabash
stock to obtain control. aud n fortnight ago he
| secured the resignations of certain members
II III" Board he was then elected To the Presi-
| dehcy. hnd ulled the vacancies with men Of his
! own selection. Then he told the Board that the
! Toledo and Wabash must finish the seventy
mics oi road between -; Louis and Chicago.
! lie put IN" matter beyond dispute 10y agreeing
! Ia iuruiSh the money TO complete II out OF hts
To say that the ofilclals Of the Chicago and
Alton were surprised, Ia to put II family. Their
| stock broke iour Irr cent, and was only rallied
| by report mat Commodore Garrison would
| o, carry out th" building oi the Now line.
Yesterday We called upon Commodore Gnrri-
son and -ut stantally the following conversa-
Why do YOU build this new road into chi
Il want an outlet for the Missouri Pacific |
| don't propose 10 b. az the mercy OF set Of men
liz" thoec ln tho Illinois Central and tho Chlca-
II is said in the street that ono reason why
you hay" arranged 10 build this line lS because
mo the, Chicago and Alton is building in Missouri
Well, they haven't tapped any ot It yet ; but
| " they Keep on huil,iiug long enough they
may ! guess they ]. have enough 10 do to a. l,,.
| care Of their limo In Illinois in "a few months
winout pottcrinG around IN Missouri
- what rNt' no Will the new line iuJurc the
! lue. nrss of Chicago and Aitouf'
liuuN thAt W" shall eul ih"ir ireightand pas
at h9-t forty per cont IL that case they will not
hc ahic to puy dividends upon any of their
stock. and their guarantee will be- worth no
! tung upon new bonds. rather think they
! won't do much railroad building IN Missouri
/ then
II is said In the street that YOU do not intend
10 buld the now line, hut hold II as "a cudgcl t.
! frghtru the Alton people,"
The Commodore turned s1uarcly IN his chair
! and -, Sr with au ugly sort or energy:
II the Chicago and Alton people came 10 me
| begging on their knees. | would not give up
! building the new road. II live the cars will
! b" running botwren -. Louis and Chicago. over
the new ilne' on the lst OF next June
| STIRABoUT.