The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-11

CHICAGO. Feb 10.-The Post saws:
A consolidation of the different COM
panies which go to make up the Chi
cago & NorthWesterr system has been
definitely decided upon. Chief of the
roads are the Chicago & Northwestern
the Fremont, Elkhorn 6; Missouri Val
ley, the Chicago, st. Paul, Minneapolis
& Omaha ard Sioux City 6. Pacific.
Together those lines embrace 1857
miles of road. For years they have
been operated in the closest harmony
The connection between them has been
almost as close as if consolidation had
actually taken place. The actions Of
all have been directed by one head
Marvin Hughitt is president of al the
companies. 1t is now proposed how
ever for financial reasons, to consOli-
date all into one company and make
one set of securities answer for all.
In carrying out the plan there Will
be an exchange of the present securi-
ties of the smaller companies for those
of the Northwestern, a large increase
OF which viii be issued to meet the re-
quirements of the deal. The exchange
will be liberal enough to prevent any
opposition to the plan on the part of
the holders of~securities of the smaller
properties. Their position will be con-
siderably benefited by the exchange.
Details Unsettled.
1t has not yet been fully determined
whether the consolidation will be car
ried out under a general plan or piece
meal. Under any general plan that
| might be adopted it is feared that
jealousy might be aroused between the
| holders of securities for the different
companies. All such misunderstanding
might, it is thought, he avoided by
| taking up the consolida ton of the COM
panies separately and treating each
one on it's merits.
Should this plan be adopted the work
of consolidation will begin with the
| Chicago, st. Paul, Minneapolis &.
| Omaha.
When the consolidation Of all the
| roads in the present Northwestern
system has been completed. the plan
now under consideration will have by
no means been consummated. These
consultations will be but the soldify-
| ing of one link in a great chain eS-
| tended over the entire continent from
| the Atlantic to the Pacific.
Once these consultations are out of
! the way, the field will, it is believed,
| be clear for the further consolidation
| Of the Northwestern and Union Pacific
| systems. The two roads are today
| practically one All affairs relating to
| through business are so arranged as
| to guard the interests and suit the con-
venience of each, and the final consoli-
! dation of the two roads will In reality
| be more a matter of detail than the
| introduction of any radical change in
| the relationship which now exists be-
| tween them.
When they become one in name as
| they are now in action, the completion
! of the Western end of the chain al
| ready alluded to, will have taken place,
| and nothing will remain but to weld 1t
to the Eastern end, which has already
| been formed by the unification of the
| New York Central and the Lake Shore.
The Vanderbilt main line will then
| extend from New York to San Fran
cisco.
1t may be that by that time abso-
lutte ownership of the Central Pacific
will have been secured. Whether it is
or not the present rights Of the Union
Pacific over that line are inalienab1y
| secured.