The Portland daily press., 1889-10-30
Hon. John 1. cutter No minated.
THE RAILROAD TRUST.
Plans of the Bankers Triangle as
Understood In chicago.

New YORK, October GA Chicago
special to the Herald says that evidence con-
tinues to accumulate that the New York
bankers triange is engineering the various
large railroad combinations now in process
of formation, and that it is their object to
ultimately unite them into one gigantic rail-
way trust. just as the gentlemen 5
association" was used as the first stepping
stone to the formation of the new combi-
nations, so are the latter to be used to reach
another round in the ladder to the final CON
summation of the proposed trust. 1t is
claimed that the Great Northern combination
has the backing of the triangle of bankers.
This being the case it is not expected that
the. great combination should compete
against each other; on the contrary, they ara
to work together toward the achievement of
one common end, the formation of gigantic
trust, embracing all the railroads In the
country. The triangle of bankers, whose
chief aim has been to encompass the forma-
ton OF such trust, found that the consoli-
datian of the tariff interests of the principal
roads into new through system had to
precede trust in order to crush out the
opposition of number of independent lines,
like the Alton, Illinois Central, Burlington
and Northern. and others who refused to
enter the scheme of the bankers and the
Eastern Railways magnates. The proposed
boycotts against those lines could not be
carried out so long as leading through lines
were not united. Under the new dispensa-
tion the independent lines are to be shut out
from connections and thus forced to subsist
entirely upon their local traffic, which, the
bankers triangle believe, will ultimately
compel them to become parties to the great
trust by depOsiting their securities with the
triangle.
There is much talk among disgruntled
Western managers about fighting the North
western Union Pacific combination, on the
ground that the agreement between those
roads is in direct violation of the tripartite
agreement (Which was virtually Abandoned
several years ago., and also of the intent and
spirit OF the gentlemen's agreement If such
a fight Is made, the chances for success are
very slim; Against such gigantic combi-
nations, which control every available outlet
west of the Missouri River, with unlimited
capital back of them, the few independent
lines can have but little show, and they Will
ultimately be compelled to submit to the
combine. The reason that there is so much
shifting OF scenes in the territory east of the
not yet ready to show their full hand and
that they hesitate to assign the proper place
in the combinations to those roads upon
which they can rely until their antagonists
have shown what they propose to do. For
this reason, 1t is stated, the milwaukee and
st. Paul, which is virtually controlled by
Drexel, Morgan d Co., and whose place was
first assigned with the Gould Huntington
combination, will probably be transferred to
Morgan & Co. engineered the Vanderbilt
scheme is admitted, and as they control the
st. Paul, the report is quite plausible thai
they are trying to bring about consolida.
tion of the Chicago and Northwestern and
st. Paul interests.