New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-03

TRANSCONTINENTAL LINES READJUST
ING THEIR RELATIONS.
THE UNION PACIFIC. THE NORTHERN PACIFIC
AND THE GREAT NORTHERN THE
ROADS CONCERNED.


ROADS CONCERNED
An important readjustment Of the relations OF
some or the transcOntnental railroads is under
way When completed it will create a harmony Of
interests among the Union Pacific, the Northern Pa
cihc and the Great Northern roads. In other words
the three roads will work In accord instead Of as In
tho past. against each other. with the consequence
OF ST. ous general impairment OF revenues OF AL
lines. There is be no actual consolidation OF
roads, any pooling of business Each road Will
retain its Individuality and Independence as here
tofCre. The first move in the general scheme was
the acquisition by capitalists identified with the
Great Northern Railway OF stock of the Northern
Pacific road. The syndicate which underworld the
Northern Pacific reorganization plan has within the
last few days disposed OF the stock In It's hands.
comprising 100000 preferred and $4,000 900 common
stock The preferred stock was said 10 have
brought something 90 and the common about
L. Altogether more than si.je).cO was involved In
the transaction. The Great Northern capitalists
secured part OF the syndcates stock. and the
Deutsche Bank OF Berlin secured an extensive block
for OF its customers. who were already large
owners OF Northern Pacific securities. Edward d.
Adams. chairman OF the Board of Directors of the
Northern Pacific represented the Deutsche Bank,
and Kuhn. Loeb & CO. represented the Great North
capitalists J. p. Morgan & Co. the managers
OF the syndicate. made the sale OF the stock. No
bonds were disposed OF with the stock The mem
times and in various ways, most Of the bonds al
lotted 70 them.
A cable dispatch that the committee in Ber-
lin of the bondholders Of the oregon Railway and
Navigation Company has received joint offer
from the Northern Pacific Railroad and the Great
Northern Railroad of 10 for the preferred stock
which they received when they exchanged their con
solidated per cent bonds for consolidated per
cent bonds. With each 5000 bond they received
$3.50 In preferred stock. The offer OF the Great
Northern and me Northern Pacific conditioned
upon its acceptance BY the holders of S30000o0 of
the stock; An offer is supposed to have been made
o other holders of stock. the common well as
S24 600 of stock. The preferred is quot
held In a voting trust. The oregon Railway and
Navigation Company has been under the control OF
the Union Pacific Railway, Its railroad runs from
Huntington, Ore. to East Portland, 400 miles, with
branch lines aggregating 500 miles: There IL an
ocean line from East Portland to San Francisco.
GO miles. The Oregon Railway and Navigation
Company's road. in connection with the oregon
Short Line and Utah Northern. which extends from
Granger. Wyo., Huntington. Ore. 5i2 miles has
formed an outlet for the Union Pacific TO the PACING
coast independent of the Central Pacific Railroad.
II Is stated that on its reorganization the Union
Pacific will become Interested with the Northern
Pacific and tho Great Northern in the ownership OF
the oregon Railway and Navigation Company. II
ls thought that In the end the ownership OF the Tn
ion Pacific. Northern Pacific and Great Northern
will be largely the same.