New-York tribune., 1899-01-22
GIGANTIC COMBINATION.
REPORTED PLAN FOR A THROUGH LINE
FOR THE vANDERBILTs.


FOR THE vANDERBTLTs.
The recent sensational rise in the value OF
the stock OF the New-York Central Railroad has
been accompanied by a number Of rumors as
TO changes and combinations which will greatly
enhance its value. The officials Of the New
York Central have denied that there is any plan
on foot 10 make any substantial change In the
property. but people in Wall Street insist that
something important is under way: and GER
tainly those who have followed stock quotations
and reason from them have good ground to be-
leve that something unusual may be contem-
plated. When an effort made yesterday 10
get the officials Of the Vanderbilt system TO talk
It unsuccessful They said that business
was so good and times so prosperous that the
stock would undoubtedly pay per cent within
a short time. and money seeking invest
ment
Within the last two weeks there have been
a series OF most important conferences at the
Grand Central Station. William X Vanderbilt.
who conceived and executed the consolidation
OF the Lake Shore and the New-YOrk Central.
has been a central figure in these conferences.
He has called TO consult with him railroad men
from all over the country Together with Cor
nelus. his brother he has been daily In close
consultation with the operating officials well
as the men who control the stock OF the Chicago
and Northwestern. the Union Pacific and the
Oregon Short Line. There Is every reason TO
believe that a gigantic combination is proposed
that Will give the Vanderbilt interests through
transcontinental line with the New-York Cen
tral the parent company. There is ground to
believe that the plans for such a consolidation
already drafted and will be announced In
time
RESULTS OF THE CONSOLIDATION.
The consolidation OF the Lake Shore with the
New-York Central and the consolidation with
the Michigan Central. both Of which were first
foretold in The Tribune. have proved salts
factory beyond the hope OF the who effected
them. When The Tribune first announced that
such plan OF consolidation was on foot denials
followed. but 1t was carried out. however; and
now IL is denied that the Vanderbilts contem
plate bringing in the Northwestern. the Union
Pacific and the oregon Short Line
The fact that the consolidation Of the Lake
Shore the Michigan Central and the New ork
Central has proved so satisfactory is looked
upon as an incentive for the men who perfected
IT to extend their scope OF operation, and an
argument TO with those who are opposed 70
II The Chicago and Northwestern is now prac-
tlcally Vanderbilt line: the Vanderbilt inter
ests I'm the Union Pacific are practically dom
by the Union Pacific practically. The Tribune
over a year ago foreshadowed such a plan When
Chauncey NJ Depew made chairman OF the
Board and Samuel r. Galloway was brorght
East 10 operate the New York Central. the
benefits Of consolidation are shown more Clearly
to the Vanderbilt officials each day. and vany
people think that this new plan Of consolidation
Is nearing perfection.
TALK IN WALL STREET.
The air In Wall Street yesterday was thick
with rumors Of en- impending gigantic consoli-
dalton on the lines sketched above. and general
belief in the practical authenticity Of these ru-
mors caused continued activity in the Wander
bflt stocks and another notable advance, espe-
clallv In New-YOrk Central and Union Pacific
preferred New-York Central went as high as
14OI5. and closed at 1875. net gain FOR the
dav Of GI4 per cent on Wednesday II closed al
1863 Union Pacific preferred. Of which 9O-O
shares were sold yesterday, closed at s34s. only
u under the highest. making net advance OF
Jaa for the day, the gain since wednesday
close having been "a per cent
II is said in Wall Street that the present state
Of New-York Centrars finances warrants y
per cent dividend rate and ii is figured out tha'
the taking over by that company OF the western
systems mentioned. payment to be made 10y
New-York Central 3l2 per cent bonds. Would
mako New-York Central an or 10 per cent
stock.