The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-07-13
RAILWAY COMBINATIONS
RUMORS IN REGARD TO PROPOSED
CONTINENTAL LINES.
New York Central May Control One,
the Pennsylvania Another and the
Baltimore a. Ohio n Third.

One Of the certainties Of the not distant
future. in the opinion Of Wall street, says
the New York Tribune. is the establishment
Of a transcontinertal railway line under
Vanderbilt control. The Boston & Albany
the New York Central and the West Shore
are tire Vanderbilt lines linking New York
and Boston. the great cities of the Eastern
seaboard, with Buffalo; and Buffalo is Joined
TO Chicago by the Lake Shore. the Michigan
Central and the Nickel-plate. The Chicago
& Northwestern, which is practically q
Vanderbilt road, stretches westward from
Chicago TO Omaha, where IL meets the
Union PACIFIC, a controlling interest in
which also the Vanderbilts are credited with
holding. The Western termini of the Union
Pacific are at Granger. Wyo. and Ogden,
Utah. at both of which points the road
connects with the Oregon Short-line. From
Granger the Short-line runs northwestward
to Huntington, Ore, where 1t connects with
the Oregon Railroad and Navigation line,
extending to the Pacific coast at Portland;
and from Ogden a branch of the Short-line
goes southwark 10 Milford, Utah, from
which place the Utah & Pacific is being
built into California, 1t is reported. with a
view TO enabling the Union Pacific 10 gain
entrance to San Francisco.
AS already said. the Vanderbilts are COM
monty understood to control both the North
western and the Union Pacific. But the
Union Pacific. i'm turn, controls the Oregon
Shortline. owning s26O23. 700 of its s27, AGO 100
capital stock, and the Oregon Short-line vir-
tually controls the Oregon Railway and
Navigation Company. owning more than
100000 of its s2400O.000 common stock, a
controlling interest i'm the 81 100000 pre-
ferred stock. however. being held by the
Union Pacific. Northern Pacific and Great
Northern. The voting power of the Oregon
Railway and Navigation Company stock. II
should be said. is lodged with the Central
Trust Company. of New York. the preferred
stock having the right TO nominate ten d.
rectors and the common five. With these
several controls, Wall street argues, it will
not be beyond the power of William K. Van
derbilt 10 realize the ambition which he is
everywhere believed to cherish of coalescing
the connecting lines into vast system ex-
tending from ocean to ocean.
While IL is we'll understood that a cordial
unders tanding exists between the New York
Central, under the broad management of
vania under the guidance of its new presi-
dent. A. j. Cassatt, the understanding ex-
vision of territory in New England and to
an agreement to act together in the main
tenance of rates, no one believes, If any one
ever has believed, that consolidation of
these two great systems occupying such an
important part of the field east of Chicago
would be effected. AS these natural rivals
in business are working in harmony east
of Chicago so they may by and by be
found competing on basis OF good faith
and mutual regard In the Western country,
for rumors are beginning to be heard with
increasing persistency that the Pennsylva-
MIA. like the New York Central, is contem-
plating an extension of its lines to the
Pacific. The Atchison. Topeka & Santa Fe
Is the road which report has IL will be COM
bined with the Pennsylvania to form the
second great transcontinental system. The
Atchison is in itself an enormous system,
with its nearly seven thousand miles of
length and its capital stock of 1928 900, 900
600. but this is an era of colossal
combinations, and 1t is we'll within the
bounds of possibility that the tyo systems
may coalesce. The Atchison has clear
line all the way from Chicago TO Mojave
In southern California. 1t uses the South
between Mojave and Bakersfield. from the
latter place reaching San Francisco by the
line acquired by ii last year. the San Fran
cisco x San Joaquin Valley road. Recently
the buying of Atchison has been for the ac-
count OF substantial interests. The Rookie
fellers are heavy owners of Atchison securi-
ties. and 1t Is significant fact that the
Rockefellers have, within the last month
been active buyers of Pennsylvania stock
third transcontinental line it is believed
by not a few observers CT the trend of rail.
way ownership and affiliations, will some
day he formed by the consolidation of the
Baltimore & Ohio the Great Northern anC
the Northern Pacific: but this combination
is thought to be further away than either
of the other two.