The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-11

Chicago. Feb. 1O.-The Post today
says: The consolidation of the differ
ent companies which go to make up the
Chicago & Northwestern system has
been definitely decided upon. Chief of
these roads are the Chicago & North
western, the Fremont, EIkhorn & Mis-
souri, Valley, the Chicago, Minneapolis.
St. Paul & Omaha and the Sioux City &
Pacific. Together these lines embrace
1866 miles of road For years they
have been operated in the closest har-
mony. The connection between them
has been almost as close as if cOnsol-
idation had actually taken place. The
actions of all have been directed by
one head. Marvin Hughitt is president
of all the companies
1t is now proposed, however, for
financial reasons, to consolidate all into
one company, and take one set or Sc
curities for all. In carrying out the
plan there will be an exchange of the
present securities of the smaller COM
panies for those of the Northwestern,
a large increase of which will be is
sued to meet the requirements of the
deal. The exchange will be liberal
enough to prevent any opposition TO
the plan on the part of the security
holders of the smaller properties. Their
proposition will be considerably pene-
flied by the exchange.
1t has not yet been fully determined
whether the consolidation will be car
ried out under one general plan or
piecemeal. In any general plan that
might be adopted it is feared that jeal-
ousies might be aroused among the
holders of securities of the different
companies. All such misunderstanding
might it is thought, be avoided by tax
ing up the consolidation of the COM
panies separately.
Should this plan be adopted the work
of consolidation Will begin with the
Chicago, st. Paul, Minneapolis &
Omaha, the stockholders of which may
be asked at their next annual meeting
to vote on a plan prepared for their
consideration. That part of the plan
once out of the way. the Fremont, Elk
horn & Missouri Valley would be dealt
with in the same way, and then would
come the Sioux City & Pacific. The ar
engagements for the consolidation of the
Omaha have progressed considerably
further than those of any of the other
roads.
When the consolidation of all the
roads in the present Northwestern syS-
tenn has been completed the plan now
under consideration will have been
consummated. The consultations viii
be but the SOlQlIylnS Oh one INK III
the great chain extending over the en-
tire continent from the Atlantic to the
Pacific Once these consultations are
out of the way. the field. il is believed,
will be clear for the further consOlida-
ton of the Northwestern and Union
Pacific systems. The two roads of to-
day practically are one. All affairs re-
lating TO through business are so ar
ranged as to guard the interests and
suit the convenience of each. and the
final consolidation of the two roads will
in reality be more a matter of detail
than the introduction of any radical
change in the relationships which now
exist between them, when they become
one in name, as they are now in ac-
ton. The completion of the western
chain alluded to will have taken place
and nothing will remain but to weld it
to the eastern end, which has already
been formed by the UnificatiOn of the
New York Central and the Lake Shore
roads The Vanderbilt main line Will
then extend from New York to San
Francisco. 1t may be that by that
time absolute ownership of the Central
Pacific will have been secured. Whether
it is or not, the present rights OF the
Union Pacific covering that line are
inalienable.