New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-27
A LIKELIHOOD OF UNION.
RUMORS AFFECTING NEWYORK CEN
TRIAL AND LAKE SHORE.
WILLIAM X VANDERBILT SAID TO HAVE PRO
POSED THE PLAN WHICH AWAITS THE
SANCTION OF HIS BROTHER CoRNE-
LIrs-ECONOMY AND A BET
TER CONTROL OF TRAF-

FIC IN VIEW.
Sudden activity AMI a heavy advance on the
New-York Stock Exchange in the stocks of the
New-York Central and Hudson River Railroad
and the Lake Shore and Michigan Southern
Railroad are accompanied by a report that there
is to be practically union Of the two lines
The gis; Of the report is that tho stock Of the
Lake Shore which sold yesterday at 1S6. Is 10
be taken over by the New-York Central. which
will pay 900 for It In some new security to be
issued.
For some time these stocks have shown much
strength. and by spurts increased activity.
Experienced students Of the stock market have
inferred from this that something was taking
place regarding these two corporations. One OF
the rumors SGT anoat was that there was to be
a great retrenchment in expenses in the New
York Central: that there would be many shirts
and changes Of officials. and that Chauncey NJ
Depew would retire from the presidency Of the
road. This has been authoritatively denied.
4 careful inquiry yesterday eliclted the In
formation that series Of changes Is being
projected in the two roads mentioned that may
eventually result In a practical consolidation OF
the two lines The plans are not so far ad-
vanced. however, that any one Is warranted IN
announcing absolutely that a union Will be ef-
fected
William K. Vanderbilt is said to be the head
and front Of the movement to consolidate the
two roads and operate them as one. When COR
nelius Vanderbilt. who is chairman OF the Board
OF Directors of the New-York Central was
stricken with apoplexy William X vanderbilt
stepped into his place and assumed the WORK
that his brother laid down Mr.. Vanderbilt at
once assumed the hveest interest In the man
agement Of the roads and familiarized himself
system. William x Vanderbilt Is also chairman
Of the Board OF Directors Of the Lake Shore' anu
| the largest stockholder In the road Knowing
mnutelv the working OF that line. and after
ward acquiring an equally detailed intimacy
,r,tb tho vv,rlines OF the New-York Central he
instantly saw, according to report that con-
solldatIon Of the two lines might be advan-
tageous He gave the matter some study. and
IS now said to be convinced that such pian
would be beneficial to both roads.
Cornelius Vanderbilt is now in Egypt travel
| ling for his; health While he has delegated all
business 10 his brother, yet It is said that Will
lam X Vanderbilt does not care to embark upon
such a radical step without consulting Corhe''uS'
and II IS learned from excellent authority tha'
| nothing will be done until the latter gives MS
sanction. and II he withholds this the pan Will
he dropped entirely. T.. '. w. Rosslter, uoas .
! ,,ror of tha NeW-Yn-k Central mas gone ~
| Eqvnt IN see Mr. Vanderbilt and he Is neiieVed
| IN he acting as an emissary for William ~. an an
derbilt 10 propose the plan TO CorneHus 'a"He'
! lilt and consult with him ,,, ,.h ,ha
William X Vanderbilt is created WIN @ eno
| hniiof that by a union OF the two lines there :
Will be n better control ot the trafnc anu go go
| economics may be effec ed Samuel X oad-
wav is president Of the Lake snore ian" , ay, az
Te is also president Of the Nickel Plate anu the
! Pittsburg and Lake Erie. both roads peiik coli ~
trollcd by the Lake Shore. Mt CaHa"ay Ma9
elec,ad nresident Of the Lake Shore to succeed
| the late General y. w Caldwell. Inc CAPITA @
| stock Of the Lake Shore is Sl9 4hb,'"b ! ne
| main line runs from Buffalo to CHICAGO IL N
the natural continuation OF the New i%"rn % NciI
tro1 and there is a complete through traflc ar
,ancenent between the two lines The line from
Ruffalo to Chicago ir 30 miles long. ana 'iic
total mileage Of the system Is .4l7 miles. -
Tho New York Central controls the west
Shore the Rome Watertown and ogdensburg'
the Nev-York and Harlem and the W-lork
ond putnam It's total mileage OF tracks owned
or loased is Q 3o4 miles The capital stock II
500 Ooo 600 Lake Shore stock closed at lSb
yesterday which was 4 gain or 4's points ~ ..i
TUESDAY New-York Central got up 10 ll'ra'
gain Of Il. from Tuesday
II is said upon excellent authority that moth
inc is 70 be done definitely at present. The plans
ore nrettv we'll formulated and only official sane
tior has to be given to them. The consolidation.
II effected will probably be under the name or
tho Nev-York Central. and -op is about the
rr,ce named for Lake Shore stock In the trans
ac,ior Tho main officeg will be In New York
and the New-York Central directory will con-
troi with the present Central officials at the
head OF the new company.