The Providence news. (Providence [R.I.]) 1891-1906, 1892-05-17

LOCAL RAILROAD COMBINATIONS.
The sale of the majority of the stock
of the Rhode Island and Massachusetts
railroad to parties deeply interested in
the New York, New Haven and Hart
ford railroad. as exclusively announced
in our news columns yesterday, can not
fail TO cause some regret in local busi-
ness circles. 1t is a transaction, which,
on the one hand, the New York, New
Haven and Hartford people were
wise in making, and from finan-
cial point of view is worthy of
the highest commendation. On the
other hand it is Objectionable
from the public point of view be-
cause it can only result in a
delay of the entrance of the New
York and New England railroad into
Providence on its own tracks-a delay
which will at least be temporary and
possibly permanent.
While the loss of the competitive road
and the cheapening of rates which
would result may for time cause some
feeling here especially as Providence
has in recent years been very kindly dis
posed toward the New York and New
England, yet full consideration of the
facts should dispel all hostile feeling
toward the New York, New Haven
and Hartford. The possibility Of
such deal as has now taken
place is not new. 1t has been known
for long time to be pending-long be-
fore the lease of the New York, Provi-
dence and Boston, in fact. The New
York and New England people have
known this. They knew that the practi-
cal value of their lease of the Rhode
Island and Massachusetts railroad was
precarious and must necessarily remain
so until such time as they controlled
the majority of the stock Of the leased
road. Despite this however, they have
gone ahead, completed the lay out of
the new road and some of the damages
of abutting owners have been already
assured. All these things have been
done and that too although for over a
month it has been known that the ma
jority stock in the Rhode Island and
Massachusetts was for sale and must be
bought in order to give a value to the
lease under which the New York and
New England were operating. Know
ing all these facts the stock was allowed
to be sold to another party. 1t would
seem to be q serious case of delay on the
part of the New York and New England.
Serious, however, as the results are to
the New York and New England, as
well as to local interests, they are not
without an eventual remedy. If the
majority stock of the Rhode Island and
Massachusetts railroad has been bought
by parties solely for the purpose of pre-
venting competition that purpose must
ultimately be frustrated for no rail
road which has facilities, valuable
connections and money with which to
pay for the privileges can be hindered
for any length of time from reaching all
points that it wishes to reach. The
power to grant such rights lies with the
people, and they will take good care of
their own interests.
1t is still further to be observed that
in these days of great railroad combina-
tions, the union of most of the New
England railroads under one or two
is not only not dis
tant possibility, but even strong
and it is not at all
that among these combina-
tions the part which the Rhode Island
and Massachusetts will ultimately play
will be comparatively small, and the
loss to our citizens by the transaction of
the past few days will be Of equally lit
tie Importance.