The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-07-19
AFFAIRS OF THE RAILWAYS.
Alleged scheme for Consolidating All Roads.

n II
Alleged Scheme for Consolidating All Roads.
NEW YORK, July 1S.-A Hartford, Conn.,,
special says: THE text for bill which is
to be introduced at the opening session OF
Congress in December, involving the most
gigantic scheme for railroad consolidation
ever candidly discussed in this country, Is
now being put into type in this city, ana
Chicago firm is engaged in publishing the
maps illustrating the consolidation OF rail-
way lines and the tracts of country winch
are to supply the proposed system Win
business. The funda mental idea is to make
Boston the metropolis of the continent.
While the Interstate Commission ana the
business men of the New England are dis
cussing the problems to be solved on ac-
count of the low freight rates enforced on
the Canadian Pacific road, the consolida-
ton schemers are concentrating plans for
the absorption of the Canadian rival with
the American system and the es-
tablishment of the greatest railroad
power in the world. The Willard
system is the only one not embraced
in the conception. me unon ana Nortn,
are then to be consolidated The system,
extending from Sante Fe through the South
western States, thence by way of the Penn
sylvania coal regions and across the Hudson
river at POUCH keepsie, taking in the Hart
ford & Connecticut Western line. with the
new road from Taritfville to Springfield. is
also involved in the unparalleled scheme
for consolidation.
"From Boston the originators of the plan
propose to run steamship line to Europe,
furnishing the amplest accommodations for
freight and passenger traffic from the Pa
cIfic slope to the largest ports on the Euro
pean continent. The details of the bill
cannot be ascertained at present, but its
projectors state that members of the Senate
are familiar with the scheme, and are en-
thusiastic for its prosecution. The capital
lZation to be asked for will not be less than
S7O0OO000O. In the main, the consolida-
tion will secure the through lines by
purchase or lease. English capitalists will
join hands in the enterprise. effecting a
commercial union at present and ultimately
political one with the Canadian territory.
equally with English in developing the
continent. The consolidation also cOntem-
plates the ownership of a new ocean cable
joining Boston with the German empire.
"Utopian as the plans NAV seem at first,
they have been skillfully formulated, and
viii have to be discussed by an Intelligent
public within the next four months. The
sum of $4,000 has been expended in pro-
curing surveys for the maps, which Rand,
McNally 81 Co. are publishing for the orig
inators of the consolidation. Several OF
the surveys were begun in 1881, and the
plans which are now about to be disclosed
have been under consideration since then"
When MIR. McNally was questioned to-day
concerning the above dispatch he said: u
know nothing of it except what L have
seen in the newspapers We have no con
tract to furnish such combination maps
and have never been asked for our esti-
mates for furnishing them, or been com
municated with in any way in the matter
Rumors About the Chicago & Alton.
NEW YORK, July 1S-All day to-day Wal
street was kept busy with reports of con
ferences of railroad officials and bankers
and after the close of the Exchange it wa:
asserted that the sale of the Chicago &
Alton to the Missouri Pacific had beer
completed, and the first deposit of the pur-
chase money. to the amount of &, O00. 900
had already been made. The rumors car
ried additional weight from the fact tina
Vice president McMullin was already il
the city. and that Chairman Walker, of thu
Interstate Association. and General Man
pected every hour. Neither Kidder, Pea
body Il Co., nor Drexel Morgan * Co.
would admit that they had any knOwledg
of a deal, but in spite of this it was gen
orally believed that important develop
DentS were pending and that an officia
announcement of the absorption of TIN
Chicago d Alton would be made.
The probability that the Missouri Pacific
would control the road caused a sharp de
cline in Richmond Terminal. which com
made a connection with the Gould system
on an understanding that 1T would be giveI
all the business east of the Mississippi. ia.
Could who is credited with holding 500
shares of Richmond Terminal, IL said I,
have sold out his interest in that company