The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-10-20

ers Of those associations were enlarged
so as TO practically transform them into
pools the United States supreme court
stepped in and declared such organiza-
ton to be illegal.
The scheme of placing all these in
terests in the hands of j. Pierpont Nor
gan was suggested several years ago,
when, discouraged by the constant vio-
lations OF agreements to maintain tariff
rates, the presidents of the various
roads met on board of J. Pierpont Nor
gans yacht in New York harbor and
adopted the far famed gentlemen s
agreement This was a pledge that
any Official. no matter how high in
rank, should be promptly discharged if
found violating an agreement.
Rates continued to be cut, however,
Just the same as if the presidents had
not pledged their sacred word of honor
that rates should be maintained.
On that occasion the suggestion was
made that the leading railroad compa-
MES between New York and the Mis-
souri, river relinquish the financial con-
troll of their roads to the firm of j. Pier
pont Morgan q Co., and that the Off
Gals of the various roads should be re-
sponsible for their conduct to j. Pier
pont Morgan. The power thus placed
In MIR. Morgan s hands, it was claimed,
would enable him without much effort
to whip recalcitrant roads into line.
The seed thus sown fell, however,
upon fruitful ground 1t has sprouted
and grown until today the great consol-
idation scheme is found to be practical
ly an accomplished fact, and j. Pier
pont Morgan Is the master mind who
controls the roads
No attempt will be made to get the
Pennsylvania under his control. That
this company will work in unison with
his plans there is not the slightest doubt,
as it is already doing So The fight for
the control of the Baltimore and Ohio
has already commenced. Mr.. Morgan
Will try to seize this road through FORE
closure proceedings lately commenced.
The stake is magnificent one, as the
acquisition of this road will remove the
last obstacle in the way of Morgan's alb
solute control of all the railroads be-
tween Chicago and New York, Philadel-
phia and Baltimore
The Vanderbilt roads have been con-
trolled by Mr.. Morgan ever since the
death of William H. Vanderbilt The
illness of Cornelius. the head Of the
mouse, the Discrimination for business
OF w. K. and the withdrawal from ac'
i've business of George almost eliminate
the Vanderbilt family from active par
tlclpation IN lines reaching New York,
though they still hold in firm hands
roads IN the interior of New York.
= Through the acquisition of the Lacka'
wanna. Reading and Lehigh Valley
roads Mr. Morgan also gains absolute
control OF the Pennsylvania anthracite
coal mines, which makes him as power
iui factor IN coal interests as in rail
road interests of this country. Not only
can nc dictate what rates coal shall pay
ohe railroads. but he can absolutely fix
'he price people must pay for their coal.
IN the south Mr. Morgan is getting
stronger from day to day Lately ht
mas achieved another victory in his prof.
ecu Tor the control of all the railroads
ana steamship lines i'll the southern
states, lie has won his long fight fol-
the possession of the Central Of Georgia
railroad. which controls the ocean and
New England steamship lines which
ply between Savannah and New York
Boston and Philadelphia.
In the west and northwest the Nor
gan consolidation plan has not pro
dressed quite 30 far as in the east Blu
good start has been made here, ant
oelore long. Judging by present indica
uons' Mr.. Morgan will as absolutel,
noid the destinies Of the roads In thu
west and northwest in his hands as b.
ooes those Of the roads in the east ant
south. Chicago Tribune
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