The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-07-23

time TO come there VIII be more than ave
groups and that some OF the big rail-
roads here mentioned VIII not submit to
btng taken ia"
II seems hardly likely. for example.
that either the Atehfson or Southern Pa
cfdc would agree 20 be leased, although
both might see the benefit Of Joining
great Southwestern trafgic combination
sszch as was once nearly contaminated.
This proposed deal brought together Jay
Could. G. r. Huntington. George C. Ma
goun. representatives OF the Rockefsiiers
and many other distinguished tsnanstsrs.
The idea was TO form pool and divide
all Of the trafssc among the Southwestern
lines on the basis OF their previous huss-
ness. All were IN favor Of such an alb
srce. bur they were unable 10 agree a. 30
how IL should be eauit&biy accomplished.
How much do ycu think the Missouri
Pacific ought to have az its share" Jay
Gould was asked.
TIN willing to leave II 10 any commit
tee ~ dis.ntsressed men" Mr.. Gould de-
ciarefs with a serious face.
We'll, I'm not" broke In Mr.. Hunting
ton. Il guess I'm Of age and don't pro-
pose 10 let ANYBODY else run my business
for while get"
Then VIII leave II TO any Of you gem
slenen here" said Mr.. Gould ito decide
what percentage OF the trafIic the Missouri
Pacific shah have"
All present locked az the asfure fran-
cters apparently wondering n there was
net some sinister purpose back OF his good
Intentions. No combination vas formed.
but the proposition showed that the tend
ency was toward a merging OF all the
southwestern lines, as suggested in tho
above groups.
II Is barely possible that several OF the
xroups viii take fhe form OF close traffic
unions. which viii be run In much the
same way that Messrs. Morgan and Hin
proposed TO run tire Northern Pacific and
Great Northern. In case IL was no, con.
ridered feasible 10 lease one TO the other.
although the stock ownership of the
Northern Pacific. for example might be
controlled in the interest Of the Great
Northern. But there was 10 be practically
one management. the train service was 10
De cut down, and competition was TO be
abolished agencies 10 be united or wiped
out. and economies introduced all along the
line that would render the alliance nearly
as effective as X the two companies had
been consolidated
Weuid Weld EnOrmous Power.
1t is scarcely likely. however that the
various legislatures will permit a general
consolidation OF railroads. and II the ten
dency should greatly increase laws might
be passed TO prevent such results and reg
uiafe rates Apparently the only way 10
bring order out of chaos and TO prevent
Generalization OF rates outside OF govern
nent control. Is by the lodging OF stock
control In the hands OF few powerful
men. who. without the need of leasing or
merging. are able TO compel obedience by
all Of the companies in their grasp.
Sach has been the tendency
daring the last ave years. and
william K. Vanderbilt, J. PIER
pont Morgan. william Rookie
Teller ana A. ,. Cassatt now have
more power lodged I'm their
hands through their numerous
stock interests and the share
holdings Of the men whom they
represent thaa have any other
Industrial leaders In the world.
To get some idea OF the power which
these financial giants already WELD look
~ q few figures.
The Vanderbilt railroads proper-inelud-
Ing the New York Central Lake Shore
Michigan Central. big Four Boston a
Albany and Chicago 4 Northwestern.
have an aggregate capital stock Of S4s7-
or. 90 and an aggregate. bonded indebted
nesa~-exciuslye Of the bonds issued by the
Central to acquire the Lake Shore and
Michigan Central-of $44a. 100 600 making
total capital Of $s5s 22s 60 in the COM
raries mentioned. There are numerous
subsidiary companies controlled by the
Sanderbilis which are not here included
The Pennsylvania system and controlled
lines have a capital stock OF more than
22.2. ass. go, and a bonded indebtedness Of
something Ike sias sol 600 making a total
invested capital of $i70 $50 coo The metro
roiitan railroads In which Mr. Morgan is
interested. independent of the so-ealled
Vanderbilt lines-nameiy, the Southern.
Erie, Reading Lehish Valley. New Ha-
ven and Northern Pacific--have a capital
stock 81 sTo7. III 90 and bonded indebted
ness of sist.soisS. making a total invest
ed capital Of 81. is7 ss7. aso
Invested Capital tn Billions.
Outside the railroads In which the Rookie
feilers are interested Independently Of
Mr.. Morgan. and what are net here tn
ciudea. the invested capital Of the COM
pnnies controlled by these men figure up
| the tremendous total OF 81 io2 sss 400 in
| stocks and 81 iss, ssl 40 in bonds or s. 54s.-
| eoo all told
| The freight ears which they operate
| number saa@s. and would. stretched
| out in a straight line. make "A train nearly
| s.es0 miles long
| The passenger ears which they operate.
/ numbering more than s.Se. would hold
| fsransss persnns AZ once
The combined mileage of the lines In
/ these vast networks af rails Is o. zoo. or
/ nearly a quarter Of the entire mileage Of
| the United States,
| The companies under their Jurisdiction
! employ an army II perhaps iaaeo men.
| and half a nflilon mcre persons are de-
| pendent upon them far support New
| York Correspondent Chicago Tines-Her-
4 aid