El Paso daily herald. (El Paso, Tex.) 1881-1901, 1898-09-20
The Great TransContinentaI Cor
SolidatiOn.

The Chicago Times-Herald says:
Philip d. Armour, Marshal Field, and
Norman B. Ream have secured control
of the Baltimore and Ohio railway.
They have made James J. Hill, presi-
dent of the Great Northern railway,
the dominating factor in the reorgani-
zation of the system and have gained
| for Chicago and the northwest what is
practically trunk line from ocean to
ocean controlled by Chicago capital.
Mr.. Ream engineered the deal by
which his wealth, that of Mr.. Hill and
of Messrs. Armour and Field gained a
controlling interest in the Baltimore
and Ohio, which hereafter is to be a
Chicago enterprise, fed and sustained
in transcontinental affairs by the i'm
mense mileage of the Great Northern
railway. If any road completes the
gap between the terminus of the Great
Northern railway in St. Paul and the
terminus of the Baltimore and Ohio in
Chicago it will be the Chicago Great
Western railway. but that is a matter
for the future.
Mr.. Ream will become a member of
the executive committee of the reOr-
ganized road and either Mr.. Field or
Mr.. Armour may become a director, al
though in all probability the trio will
be represented by Mr.. Ream. Pre-
sident Hills connection with the trans
action foreshadOws the statement that
he will be the prime factor in the ope-
| rating department OF the new Baltl-
more and Ohio road.
While the price paid by the Chicago
men is not known, the details of the
| transfer of the property of the road
have been discussed at conference
held in the Auditorium annex. At this
conference President Hill, Mr.. Ream,
John X. Cowen, president OF the Bslti-
more and Ohio, Oscar @. Murray, re-
coiver, and VIM. M. Greene, general
manager of the road, were present.
MIR. Ream declined to be interview
ed, but one of the Baltimore and Ohio
officials confirmed the report current
in Wall street on Thursday and in
Chicago railway circles that in addi-
ton to the holdings of the road, which
the Rockefeller interests are reported
to have secured last week for western
hackers of the road, Messrs. Field, Ar
mour, Resm and Hill had secured suf-
ficient reorganization stock to make
Chicago and the west the dominant
element in the future management of
the road.
President Cowen was not prepared
to make q full statement until after he
had consulted with Mr.. Ream. Presi-
dent Hill was in a juDilsnt frame of
mind and would not deny that Field |,
Armour, and Ream had assisted him
in almost realizing his dream of hav-
ing a road from the Pacific to the At
lantic controlled by western men.
A St. Paul dispatch says: President
J. j Hill of the Great Northern rail-
way returned from Chicago today and
made this statement to an Associated
Press representative regarding the
Baltimore and Ohio story:
ANY connection which L may have
with the Baltimore and Ohio is simply
for the purpose of putting that road on
its feetand making it'what it was at one
time one of the most important roads
in the country. Recently it has failed
to such an extent that it was an incu-
bus. Any intention | may have with
regard to the Baltimore and Ohio has
no connection with the Great North
ern. Neither has the Great Northern
nor myself any connection with any
railway between ST. Paul and Chicago,
and furthermore, neither do L expect
to have any such connection. Some
one who Is responsible for statements
to the contrary has an Imagination
that is altogether too vivid
Further than this Mr.. Hill had no
thing to say regarding the matter.