The herald., 1898-02-05
NOBODY WANTS ANY TROUBLE
EVERYONE INSISTS ON HAVING
HIS OWN WAY
Great Northern Stock Jumps Up on
Rumors of U. P. Union-Lake
Shore Absorption
Associated Press Special Wire

held today at the office Of the Western
Passenger association between repre-
sentatives of the Atchison, Burlington,
Northwestern and Rock Island roads
over the rate situation availed practical
ly nothing ana the reduced rate between
Chicago and Denver announced by the
Atchison and the Rock Island will go
into effect Sunday, as announced.
Chairman Caldwell made every effort
to induce the four lines to come TO some
agreement. but he could do practically
nothing. The Northwestern said that it
could not take off its fast train. for the
reason that the train will start on Sun
day and will give daylight service be-
tween Chicago and the Missouri river,
which 1t has not. until now, been able
to secure. The Burlington threw all the
responsibility of the fight on the should
ers of the Northwestern. and said that it
had not now, nor had it had al any time,
the desire to provoke any trouble. but it
was forced to put OH fast train by the
action of the Northwestern
On the other hand. the Atchison and
the Rock Island reiterated their deter
mination to cut the rate between Chicago
and Denver by So and Immediately after
the meeting concluded the announce
ment was made by placard in the Win
dows of the Atchison tictet office that
tickets to Denver could be purchased
for $24.50.
The Rock Island took a similar action,
and in a few minutes both the North
,li haI 1at he
rate, and the fight was on in earnest.
The Rock Island and the Atchison are
now in the same position as before they
reduced their rates They are selling
tickets at the same rate as the North
western and the Burlington, and those
roads will make faster time to Denver
than the former are capable of making.
1t is not yet settled whether any further
reductions will be made by the Rocl.Ss-
land and the Atchison, but they are GER
tain to be in the same position to the
end, for the other roads say that they
will not take off their trains and that
they will meet any reductions that are
made by the Atchson and the Rock Is
land. The other roads interested in the
fight are feeling very aggrieved at the
four fighters and say that they will be
compelled to meet the reduced rates to
Omaha and Kansas City, without a
chance to get anything out of it. The
reduction OF S. between Chicago and
Denver will certainly pull down the rate
between Chicago and Omaha by 81 and
between Omaha and Denver by $S The
Burlington and the Union Pacific today
announced that they would make these
reductions at the same time as they made
the cut in the rate between Chicago and
Denver.
THE GREAT NORTHERN
NEW YORK, Feb. 4.-The Tribune
says: The stock of the Great Northern
Railroad showed unusual strength
Thursday and the preferred made the
important gain of - points In the course
Of the day This rise was accompan-
led by various rumors about possible
changes in the road that would increase
it's earnings and make the stock more
valuable. one of the stories was to
the effect that James ]. Hill, president
of the Great Northern, and Jacob H
Schiff, of the Union Pacific reorganiza- =
tion. had held various conferences and
that the developments in which both
for. Henry w. Cannon, president of the
Chase National Bank and a director in
the Great Northern. when asked about
the report that some change was eX-
pected in the Great Northern, replied
You can say as coming from me that
there is no plan for any immediate
change in the Great Northern. | mean
by that not this week or next week, or
next month. OF course, l cannot delve
further into the future"
How do you account for this sudden
rise in the stock?" Mr.. Cannon was
asked.
Il suppose it can be traced to specula-
tive causes" said Mr.. Cannon.
Mr.. Hill is here now and reports
things to be in excellent shape. He has
not purchased a share of stock since
he has been here. The property is doing
we'll"
Whatever there may be in rumors
about closer agreement or possibly a
union with the Union Pacific it was
learned from other trustworthy sources
that plan Is under consideration which
contemplates the retirement of the col
lateral trust bonds of the company.
amounting to $15 5000, 900, and the com
pany also guarantees interest on bonds
of subsidiary companies amounting to
$2O,325,000. This plan is said to be in
embryo yet, and the details are so un-
settled that it is impossible to state
definitely the terms of the proposed re-
tirement Of bonds.
VALLEY ROAD TUNNELS
SAN FRANCISCO Feb. 4.-Messrs
Muir and Foley, the ST. Paul contractors
who were awarded last Tuesday the
contract to construct the $500 foot tln
mel Of the San Francisco and San Joaouin
Valley railroad in Contra Costa county.
hive arrived in the city. They will ar
range tmorroW to file a bond of 500 0OO
with the directors of the company to
insure a faithful performance of the
contract They expect to begin boring
the tunnel on March 9TH next. 1t viii
require 500 days of continuous work IN
complete the tunnel
A THROUGH LINE
NEW YORK, Feb. 4.-The Lake Shore
today became the property of the New
York Central and Hudson River rail-
road company. The final arrangements
for the transfer of the Lake Shore sys-
te m to the control of the Central was
made this morning when the directors
Of the Central met here to consider the
proposition made some time ago for a
union of the two ro3 3as into clae system,