The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-28

Control of the Road Would Give the
Traffic Which 1t Is Not Now Able
to Reach - Traffic Alliance in
Case the Pending Negotiations
Fail.
NEW YORK, Aug. 1.-THE Herald
says: From semi-official sources it is
learned that a deal is pending in Wall
street whereby the Illinois Central may
yet control of the Minneapolis & St Louis
railroad. Negotiations to this end are
said to have been under way for some
lime between the Harriman-F'ish inter
asts. representing the Illinois Central. and
President Edwin r. Hawley, representing
he present control of the Minneapolis &
St Louis.
No definite agreement has yet been
cached, but Wall street interests having
knowledge of the situation say that in
my event a traffic alliance will be eff
,ected and that a change of control will
probably be brought about. There are
wen rumors of the terms upon which
Minneapolis & St. Louis securities may
De exchanged for those of the Illinois
Central
STRATEGIC POSITION.
A glance at the maps Indicating the
( geographical positions Of the two prop
critics shows that such deal would be
greatly to the advantage of both roads.
The Illinois Central would be given &C
ess to a territory rich in traffic which it
loes not now touch; would get fine
criminals in Minneso;as twin cities, Min
leapolis and st. Paul, and would have
practically a through line from Duluth
o the Gulf of Mexico.
Railroad men agree that the Minneapo-
is & st. Louis has terminal IA
tilities the equal of any in st. Paul and
he best in Minneapolis. These terminals
re now used by the Northern Pacific.
he Omaha. 500 Line, st. Paul & Du-
nth, Wisconsin Central and Chicago
treat Western roads. The Minneapolis &
st. Louis derives a large net revenue
rom them.
exceptionally rich country, and at Albert
ga, Mimi, furnish the only connection
o the Twin Cities and the Northwest for
he Rock Island and the Burlington, c.
ar Rapids ~ Northern systems.
BULGE IN STOCKS
The recent strength of the Minneapo-
is & st. Louis securities on the stock
Exchange has been attributed 10y all to a
rowing appreciation of the roads STRAIT
gic position, to the reduction in fixed
harges through refunding, to the in
reased mileage and increased earnings
brought about by expert management to
wiz - e,i1 4 l.
\ bly, per cent will be paid on the COM
VnOn stock and other favorable develop
cents. 1t now seems probable however,
hat the bulge of the stocks has been in
anticipation of what may be effected in
he Illinois Central matter.
SCHEME OF EXPANSION.
s President Stuyvesant Fish and E. II.
hartman, who are controlling factors in
illinois Central affairs, have been carry
V1g out scheme OF expansion for some
line past. First the Illinois Central ac-
Ruired the Mississippi & Yazoo Valley
zines, which parallel the ccmpany's road
from Memphis, Tenn, to New Orleans.
Then followed the purchase Of the Ches-
speake, Ohio & Southwestern. running
iFom Memphis to Louisville. The extern
Hon of the Dubuque & Sioux City road
Flto Omaha, which will be completed this
all, was the next undertaking.
Now comes the proposition to gain an
.nTance into st. Paul and Minneapolis.
Fhich, If acquired, will give the Illinois
CENTRAL access to a great amount of ter
itory that has never before contributed
. its revenues. Through lines already
/ operation, the system would then ex-
end to the head of Lake Superior. thus
living on unbrOken line from Duluth to
lew Orleans.
CONNECTING LINK
! All that would be required to form the
! Cnnection between the two systems
! 'ould be the construction of a few miles
! + road from Lyle Mimi, which is the
| illinois Centrals present northern termi-
! us to Albert Lea, Mimi, where the Min
! eapOlis & st. Louis now runs.
! In railroad and financial circles if is
7 aoueht that the purchase or lease of
| ne Minneapolis & St Louis by the IL
| nois Central is more likely than the ar
| 7ngement of a traffic alliance.
/ Chicago, Rock Island & Pacific railway
fficials are said to have become alarmed
| yer this new extension scheme of the
linOis Central. The Rock Island former
controlled parts Of the Minneapolis G.
l. Louis system through ownership Of
: )ortgage bonds. These bonds We're taken
p by the payment of more than four
billions when the road was reorganized
l 1894. Since that time there have been
lany reports that the Rock Island was
u 70 IN