New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-10-31
DENIALS FROM ALL SIDES.
CHAUNCEY NJ. DEPEw's EMPHATIC WORDS.
NOTHING WILL DISCOURAGE THE SENSATION

NOTHING WILL DISCOURAGE THE SENSATION
MoNGERs, HOWEVER.
The published statement that the control Of the
Chicago and Alton had been bought jointly by the
vanderbilt and the Union Pacific Railway had lftle
foundation Negotiations for traffic agreement with
/ the Kansas Pacific line, similar to that with the
Chicago and Northwestern, begun some time ago.
Persons actively Interested I'm propagatlng the
unfcaton' OF railroad management wer betrayed
Into the statement that the new combination hal
actually bought the Chicago and Alton. Tho officers
OF that company denied the report the Union Pacific
officers denied them, and the bankers who probably
would complete the transaction denied them. Tho
information which led TO the published statement was
derived from amateur railroad theOnst who may,
or may not carry the control Of the Western railroads
In his breeches- pocket
The possible foundation for the story, aside from
the traffic agreement. which has not yet been COM
pleted, is the fact that recently the Union Pacific
offered TO buy majority of the Chicago and Alton
stock at $40 share. Tho offer a hatterng
one, but tho payment TO be made IN FIVE per cent
debennre bonds Of the Union Pacific, and naturally
the olfcr was refused 1t IS understood that this pro
posal was made the sole responsibility Of the
Union Pacific. The Vanderbllts were not interested
In 1t In any way. The sensational statements printed
yesterday Included good many figures from " Poors
MANUAL showing tho vastness OF the combination
All the Vanderbilt lines and the Union Pacific and
It's leased roads were Jumped with the Chicago and
Alton to magnify the Importance Of the "dea7 The
premises on which the structure was built not
well founded. Denials from the principal officers Of
the Chicago and Alton received from Chicago
and reinforced by the fiscal agents in this city Dis
patches from Boston pronounced the all bosh,'
and even the latest that President Black
stone refused to sell unless all stockholders had this
same opportunity derded.
j. PPrpOut Ub NCas oh Wit avn
managed the deal' said in his usual emphatic way
" know nothing about il except what have seen IN
the morning newspapers. There is not word Of truth
in the story, far know.
Chauncey VI. Depew also asked by a Tribune
reporter what foundation any, existed for the story
Mr. Depew had just come from the office Of
Cornelius Vanderbilt, whore he had discussed the mat
ter and he treated It with levity which sug-
gested the idea that the publications hardly meritel
contradiction far the Vanderbilts were con
nected with It, Mr. Depew said;
There is an epidemic Of rumors and sensations at
present representing the Mcssrs. Vanderbilt as en-
gagged in the work Of buying up
and consolidating the Fitchburg, Union Pacific
Chicago and Alton and other roads,
so that they will control all the systems that exist
outside of the Erie, the Pennsylvania and the Batl
more and Ohio. According 10 tho stories that are
current the Nanderbllts will not rest until they have
most Of the lines from Maine to the Pacific and even
given them all the Could and Huntington systems
and rclegated Mr.. Gould to farming as his only pur-
suit.
Seriously continued Mr.. Dcpew, abandoning the
banterlng tone, there is no truth whatever I'm the
statements that the Van1erbts have purchased the
Chicago and Alton any par OF its control or that
they contemplate such tran ons or arc or have
been interested IN any negotiations, directly or In
directly that may have been opened by anybody IN
regard TO the Chicago and Alton. You may make
the denial IN the most sweeping manner, and when
who arc identified with the Vanderbilt name and who
are usually Interested with them I'm their enterprises
The Naderblts satisfied with the properties with
which they are now connected or which they control
and which the public know all about. They are not
reaching out for any new expansions and ars only
dcsrOus of developing the Interests that now IN
their hands. If the Union Pacific has made any
arrangement with the Alton It Is matter we know
nothing about and tho Northwestern certainly not
concerned In II. II the Union Pacific should secure
traffic contract with the Alton, It would simply mean
that Il desired 10 reach st. Louis, but Oh this point
| cannot enighten yOu.'
What about the Union Pacific Northwestern deal
that was so scnSatiOnay written up by papers
next asked.
You refer, suppose. to the traffic agreement that
been published and Onght 10 be well known. 1t a
traffic contract similar to that made by tho Union
Pacific with It's three connections six or years
ago, known as the tripartite agreement II secures
TO the Northwestern tho unconsigncd freight OF the
Union Pacific and gives the Union Pacific the west
bound business of the Northwestern. II Is bene-
interchange of traffic aud Obviatos the necessity OF
breaking bulk between Chicago and the Pacific Coast
The contract involved change Of ownership
troll, no consolidation merger AMI alteration
in the corporate independence or operation OF the two
companies"
railway situation looked satisfactory. and, with respect
to the earnings of the Vanderbilt system b. coud say
that they were most excellent.