Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-09-01
ANEW SCHEME.
Huntington Proposes q Consolidation OF
All Western Railroads.
The AtchisOn System, Gould's and Runtington's
Roads Now Working Together-Ths
Gentlemen's Associations
4 NEW SCHEME .

\ NEW SCHEME.
CHICAGO, ILL.,, Aug. "A local pa
per says: When Jay Gould and the
Bankers triangle of New York first pro-
posed the formation of railroad clear
ing house, Mr.. c. P Huntington, the
Southern Pacific magnate, was a party
to the scheme. When it was found the
clearing house plan could not be carried
and the formation of the so-called Gen
tlemen s associations was suggested Mr..
Huntington withdrew from the combina-
ton on the ground he did not believe the
sszSsassociation of gentlemen would I'll the
slh1Il, ana that he had a plan of his own,
stle time for the contamination of which
was not ripe. The Interstate COM
merce railway association Gentle
mems associations having proved
d complete failure, steps are now being
taken to carry out Mr.. Huntington s
plan, which contemplates general con-
solidaIOn of railroad interests west of the
Missouri river, lines east of that river to
work out their own salvation and make
whatever arrangements they may. That
such is the intention is indicated by state
ments made by Mir. Magoun, chairman
Topeka and Santa Fe; d member OF the
banking firm of Kidder, Peabody & Co.
New York, who said it would be useless
to continue the present associa-
tions as now organized, and there
must be either one association
covering all lines east and west of the
river or the Missouri river must be made
the dividing line, with one association
east and another west of the river. Mr..
Magoun further said: The New York
bankers and their hackers are in 10 way
responsible for the formation OF the
gentlemen 5 associations, with four
or FIVE auxiliary associations. The orig
inal proposition OF the bankers was. leg
islated out of existence by the Chicago
managers and to please the Alton and
other opponents of that proposition
the present unsatisfactory organizations
were formed. In further confirmation
of the rumOrs that n new zeal is to be
made, to which Mr.. Huntington will be
a party, comes report from New York
that closer relations between Jay Gould s
Southwestern system and the AtchisOn
and Huntington Southern Pacific .sys-
TENS has been established. 1t is also
stated that both Mr.. Gould and Mr..
Huntington are acting in concert to Sc
1t was also learned Yesterday that mana
gers of the roads in the ''gentlemens
associations be Informed by New York
bankers that present organizations could
not be continued, and that they must
take measures to bring about a complete
reorganization. This contemplates but
one association, which is to be in the
nature of the original clearing house
plan. Accordingly a committee of
presidents has been appointed to devise
plans for the contamination of the deal.
This committee will have conference
with the New York bankers triangle and
Jay Gould, Huntington and other rail-
road magnates in New York in few
days. Chairman Walker is now on
vacation in the East and Chairman
Midgley left on a vacation yesterday,
and it is understood they viii both be
present at the New York conference.