Omaha daily bee., 1898-12-04

Consolidation of the Systems Seems
to He Nearer at Hand.

Consolidation of the Systems Seems
to he Nearer at Hand.
The report Of The Bee a few days ago
to the effect that the negotiations for the
purchase Of the Chicago & Alton by the
Kansas City, Pttsburg & Gulf. though sup
posed to be clear Off, were nearer consumma-
ton than at any time since they were begun,
is abundantly confirmed by the latest rail-
road reports from New York City.
President Stillwell and General Manager
Gillian of the Kansas City, Pittsburg & Gulf
are still in New York working on the
scheme. Since they have been there the
stock Of their rCad has jumped from Is to
221A, while Alton stock has advanced to 1853.
New York stock brokers are said to be ad-
vising their patrons not to part with any
Port Arthur stock. President T. B. Black
stone Of the Alton says there is nothing to
give out yet and rather discredits the report
Of prospective amalgamation.
The sale Of the Alton will involve about
S4S, ,O0O, 900. The road has outstanding Sc
curities consisting Of s1s751 100 common
stock s3,479,5O0 preferred stock and s12S07,-
$50 bonds and guaranteed stock. 1t is gen.
orally believed that the common stock will
bring about IT'S. at which price the entire
issue would be worth about $32.SO0,O00.
From New York has come the statement
that President Stillwell of the Kansas City
Gulf will raise about s15, 900 900 of the
amount necessary to purchase the Alton
that Drexel & Co. of Philadelphia will raise
about $12 900 and that an equal amount
will be reserved for Chicago capitalists
How Omaha VIII BENEFIT.
Should the consolidation of these two rail-
road systems finally eventuate from the long
series of financial deals that have been en-
crossing so much attention for month past
Omaha would necessarily be immeasuraby
benefited. The Alton has long been regarded
as one of the strongest OF all American
lines and its standing advertisement for
years has BEEN Americas most popular
railroad" That 1t has kept its superior
strength through times Of panic, business
depression and other adverse periods is said
by railroad men to be due to the fact that
it has allowed no extensions of its lines. 1t
has been content to be the connecting link
between three great cities Of the west Chi
cago, st. Louis and Kansas City, from each
of which 1t secures an immense amount Of
traffic, and in addition gets the local bust
ness of an exceedingly rich territory be-
tween these cities.
Combined with the north and south lines
OF the Port Arthur route the Alton will
form a system that will be regarded as one
OF the strongest in the country, and will
certainly be a formidable rival for the most
| OF the other lines in the west. directly or
! indirectly. AS the northwestern terminus
OF this system, Omaha will certainly be ad-
vanced in railroad importance. 1t will then
have the advantage OF a strengthened north
and south line and connection with another
road traversing the best sections of Missouri
| and Illinois.
General Manager Webster Of the Omaha
| Bridge and Terminal railway feels assured
! that the Port Arthur route will ultimately
| bring its trains into this city across the
East Omaha bridge. using the down town
| terminals reached through the Fourtesnt
street track, over which there has been such
heated controversy, General Manager
Gi!lham OF the Port Arthur system Is ex-
| pected in Omaha soon after his return from
! New York City. At that time Mr.. Webster
win 60 over the local situation with him,