New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-31
A GIGANTIC UNION PLANNED
". Il. TANDERBTLTS SCHEME
COMBINATION or ALL THE VANDERBILT
ROADS UNDER ONE COMPANY

THE ADMITTED AMALGAMATloN OF THE NEW
YORK CENTRAL AND lake SHORE TO BE
FOLLOWED DY THE coMBNING or
THE BIG -FOUR AND CHESAPEAKE
AHD oHIo-cHAUNcEY NJ
DEPEw NOT 70 BE
DISPLACED.
The consolidation Of the Lake Shore with the
New-York Central Railroad under the name OF
the latter is simply tho initial step in railroad
plan that in scope and extent eclipses anything
hitherto undertaken in the history OF railroad
ing. The truth is. however, that the present
scheme. the first step I'm which has been take1
bv the practically admitted amagamation Of
the Lake Shore and the New-York Central Is To
consolidate into one company the whole Wander
bit system. and such lines as it may be able 70
control and lease and place the whole enormous
organization under one directorate.
For some time past the air has been sur
charged with rumors of what was gong on
within what is generally known as the Wander
bilt system. Those who talked most boldly
about the matter We're the ones most in the
dark They knew that something was taking
place. but ever they were not able To- grasp the
tremendous scope OF the operations pr'j't- ed.
Timidly. at fist. the announcement was made
that the plan c0ntcm dated radical changes IN
the New-York Central rctrenchment IN *
penses. and a shakc-up ~ officials. When Inc
Tribune on Thursday last first told oi me pan
~ consolidation with the Lake Shore, ana CUT
lined the scheme by which the consolidation
would be effected the railroad. inanciil and
commercial world stood ashast II took some
time for them to understand all that was
JoJ fha thDfl-
selves TO this sweeping change when they he-
gan To- hear vague hints of still further
changes. involving other lines within the sys-
TEN. Still stupened by the magnitude OK the
original transaction they could not believe tfat
a hnancler OF the requisite ability mad appeared
who could undertake and carry through any
additional deal
THE MANAGER APPEARs
The truth is that such manager has come
in William X Vanderbilt. Railroad men and
leaders in the financial world have never looked
upon william X. Vanderbilt much OF busi-
ness man They have rather r. garded him as
man given I'D 10 pleasure and the lighter affairs
OF the world. The truth Is. that William Is Van
derbt is a son Of his father and grandson OF
his grandfather and inherits from both the
knack Of realizing a situation at glance and
acting with lightning-like rapidly and astute
and acute Intelligence Vnen Cornelius Wander
bit was content to run ne business William Is.
Vanderbilt was willing 70 allow his brother TO
do SO. and to devote himself 10 the pleasures
of life. But 10y illness Cornelius NanderDit was
taken away from the management Of the great
affairs Of the Wand rbilt family and William Is
Vanderbilt stepped into his place. rs keeny and
strongly as he had followed The plea sure of hfe'
William * Vanderbilt took no the duties that
/ J. in
rent Of the New-York central. ard having for
wears been the active head of the Lake shore. he
saw At a glance what would bo effected by q
union Of these two properties.
He did not stop here. UA started f. work to
plan stoke that would astound the country
and appan those who have come 70 believe that
they control such affairs He made his initial
move in the Lake Shore deal. and enjoying the
s,upefacticn # those Who arc involved. he went
on 10 plan other matters n surprise them still
further.
" X. VANDERBILT ; PLAN
These plans must as Is natural. be more or
less probematical as yet. but william x Var
darhrt working in accordance '"th well-d
fined policy and along lines laid down in the
Lake Shore deal IS planning 10 bring all this
tremendous system under ono head. and make
himself that head There have been stories that
Chauncey VI Depev would be deposed from The
position of president ~ the Nev-york Central.
and that some other would he put in his place
Some have named 5. r. Callavay president Of
the Lake Shore and Of the Nickel Plate
well as the Pittsburg ard Lake Erie. and other
lines subordinate 70 this system Some ha
mentioned NJ z. ingalls, president OF ths Big
Four and the Chesapeake and Ohio
MR. DEPEW TO REMAIN.
The truth is that this matter has not been de-
cidsd yet 80 far as a intents and purposes 60
Chauncey NJ Depew Will he retained a. the head
Of the Vanderbilt system. and there is no ground
| for saving that he will not He is to-day the
/ nominal head of the system for while the presi-
/ dents OF the other roads are just as powerful
/ and strong along their own lines he is on his
vet tho fact remains that he is tho spokesman
Of the Vanderbilt interests in the Joint Traffic
Association and in all matters relating to tbs
tremendous system he stands alone, and his
counsel Is final and absolute. Beyond any doubt
so far as information can be secured at this date
he will he retained in this capacity as the head
/ - the great system. whatever amalgamations
and consultations may take place. This is the
wish Of Cornelius Vanderbilt. and, while he Is
concurring with William X. Vanderbilt in all his
plans for consolidation. he makes the provision
that Mr.. Depew shall remain as he is.
BIG FOUR AND CHESAPEAKE AND OHIO
The next step to be taken. as was learned yes
terday from most trustworthy source, in this
/ gigantic plan OF consolidation is the merging ~
/ the Cleveland. Cincinnati. Chicago and ST. Louis
| Railroad, generally known as the Big Four.
/ with the Cheslpeake and Ohio, under the name
/ of the former. How this will be done can be
readily seen. Melville J.. ingalls, IS now presi-
/ dent OF both roads. The BIG -Four is Wander
bili property. Cornelius Vanderbilt is chairman
/ of the Board os Directors. Frederick ". Van
+ derbilt. r. MKay Twomby. J. d. Laying, VIII
lam X. Vanderbilt and Chauncey VI. Cepaw are
all members Of the Board The road operates
/ SIS miles Of road and * capitalized at $3193I-