Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-08-12
VANDERBILTS BUY.
The FIRST STEP IN ENHANCING
THE "BIG -FOUR, SYSTEM
WILL GET ENTRANCE TO CHICAGO.
Rumors That the Chesapeake and
Ohio May Soon he Annexed as Part
OF the Deal-To Unite Soft Coal
Trade.
Trade.
New York Herald.)

"Hdt promises to be one OF the mos
important railroad deals of the year 1,
now under way in the West, and 1t ha.
been partially completed. A controlling
interest In the Chicago, India
napolis and Louisville railroad, bet
ter known as the "Monon," has
been acquired by the "Big Four.
and negotiations are under way
for the acquisition of the Cincinnati
| Hamilton and Dayton. The latter deal
however, has not yet been perfected. al
| though 1T is believed in Wall street that
1t is only a question of few days be-
fore an agreement will be reached.
The Big Four" or Cleveland, Cincin-
NATL Chicago and st. Louis railroad. is
controlled by the Vanderbilts, and this
road Is operated in such close connection
with the Chesapeake and Ohio that Cos
sip has intimated that it is part of the
deal that the Chesapeake road shall be
eventually taken into the enlarged big
Four" system.
This, however, is a matter for future
consideration. If the entire programme
is carried out 1t is believed that IL will
greatly strengthen the Western Wander
bilt system and lead to the placing OF
rates in q much disturbed territory on
a frmer basis.
Strictly speaking, majority OF the
Monon stock has been acquired by the
financial interests that control the big
Four" not by the railroad proper, al
though the effect is the same, and 1t Is
understood TO be the intention to turn
the property over to the big Four" at
no distant date. The acquisition OF the
Monon will give the big Four" an en-
trance Of its own into Chicago over the
Chicago and Western Indiana tracks
The Monon has a part control of the
stocks Of the little road with four other
companies. The big Four" has been de-
pendent upon the Illinois Central for an
entrance to Chicago. having to pay for
the use of fifty-six miles Of tracks,
SYSTEM GREATLY ENLARGED.
The acquisition Of the Monon will add
535 more miles to the big Four's" sys-
tenn Of 1,S3S miles, and II II secures the
Cincinnati, Hamilton and Dayton, which
has GIL miles. II will have a combired
mileage of 3.0l5 miles. In addition TO this
the big -Four" operates nearly four
hundred miles of other tracks. The
MOnOn extends from Chicago TO Indiana
polls and from Michigan City to New
Albany. the two lines crossing each other
at Inconvenience the name by which the
road generally goes. 1t also has two small
branches in Southern Indiana.
The line from indianapolis to Chicago.
only In a sense, parallels the big Four"
for a part of the distance Otherwise,
the two systems supplement each other,
and will be able to give each other con-
old lI1 a Larcf ,arl.r
to other systems.
The Cincinnati. Hamilton and Dayton,
in connection with which the late Henry
S. Ives won notoriety, traverses much of
the territory of the big Four" but it
would add much new territory 10 the
Vanderbilt system. The Cincinnati Ham
ilton and Dayton extends from Gin
cinnati to Toledo, from Cincinnati to In
dianapois from Dayton to Ironton, and
from indianapolis to Decatur. The only
line that parallels the big Four" for
any distance is that from Cincinnati to
Indianapolis.
II is calculated, however, that a com
bination of the two systems would lead |
to greater uniformity Of rates, and that |
both companies would be a gamer. The |
big Four has no line into Toledo, and |
If il acquires the Hamilton and Dayton i
road the latter will afford a short and |
connection between the big |
Four" and Lake Shore for connection with |
points.
OTHER COMBINATION SCHEMES.
Apropos OF the present combination |
plans for the purpose of strengthening /
the position of the Vanderbilt lines in /
Ohio and Indiana, it is interesting to note
that during the last two or three years
there have been several schemes on foot |
10 bring the railroads Of that region into
closer harmony and place them on a more
footing. Most of them are in
erested In bituminous coal-mines, and
lerive a large part Of their revenue from
hauling soft coal. For several years they
nave been waging a sharp warfare among
themselves in order to secure the lions
share Of this coal business and 10 place
heir products upon the market more
,heaply than their competitors.
1t was for the purpose of restoring har-
nony and getting a reasonable profit out
# the coal trade that the Ohio railroads
organized a central selling agency for
handling all OF the products OF the mines.
This has met with fair success, consider
ng that IL was only an experiment.
1t is believed, however. that the most
Elective way to place the OAlio roads on
profitable basis is by consolidation In
his way there may be a great curtail
nent of expenses of operation, as we'll as
reduction in office and agency expenses
1t is understood that Colonel Brice is Il
FORK on a scheme for the merger of seve
al Ohio roads, somewhat after the fash
Jn Of the big Four" plan.