The record-union., 1899-07-13

NEW YORK, July 1.-THE Tribune"
says:
One of the certainties of the not dis
tant future, in the opinion OF wall
street is the establishment of a trans
continental railway line, under Wander
bilt control The Boston and Albany,
the New York Central and the West
Shore are the Vanderbilt lines linking
New York and Boston, the great cities
y of the Eastern seaboard, with BuHalo;
and Buffalo is joined to Chicago by the
Lake Shore, the Michigan Central and
/. the Nickel Plate.
The Chicago and Northwestern, which
is practically Vanderbilt road,
stretches westward from Chicago to
Omaha, where it meets the Union Pa
cific, a controlling interest in which
also the Vanderbilts are credited with
holding. The Western termini of the
Union Pacific are Granger, Wyo., and
Ogden Utah. AT both points the road
connects with the Oregon Short Line.
From Granger the Short Line runs
northwestward to Huntington, Or,
where it connects with the Oregon
Railway and Navigation Line, extend
ing to the Pacific Coast at Portland;
and from Ogden a branch of the Short
Line goes southwark to Milford, Utah,
from which place the Utah and Pacific
is being built to California, it is re-
ported, with a view to enabling the
Union Pacific to gain entrance to San
Francisco.
AS already said, the Vanderbilts are
commonly understood to control both
the Northwestern and the Union Pa
cific
~,
trolls the Oregon Short Line, owning
$26, ,023, 100 of it's S21, AGO, 100 capital
stock, and the Oregon Short Line vir-
tually controls the Oregon Railway and
Navigation Company. owning more
than $16OOO.OO0 of it's S24 900, 900 COM
mon stock, q controlling interest in the
S11 100000 preferred stock, however,
being held by the Union Pacific North
ern Pacific and Great Western. The
voting power of the Oregon Railway
and Navigation Company stock, it
should be said, is lodged with the Cen
trail Trust Company of New York, the
preferred stock having the right to
nominate ten directors and the common
five With these several controls with
in controls, Wall street argues that 1t
will not be beyond the power of Will
liam K Vanderbilt to realize the ambi
ton which he is everywhere believed to
cherish of coalescing these connecting
lines into a vast system from ocean to
ocean.
While it is we'll understood that a
cordial understanding exists between
the New York Central, under the
broad management of William K. Van
derbilt. and the Pennsylvania. under
the guidance of its new President. A.
]. Cassett, this understanding extend
ing to the development of plans for
a division of territory in New Eng
land and to an agreement to act to-
gether in the maintenance of rates, no
one now believes. that consolidation
of these two great systems, occupying
such an important part in 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 operating
on basis of good faith and natural
regard in the Western country, for ru-
mors are beginning to be heard with
increasing persistency that the Penn
sylvania, like the New York Central. is
contemplating an extension of it's lines
to the Pacific. The Atchison. Topeka
and Santa Fe is the road which report
IDS IL Will Dc Will Tic IcHH-
sylvania to form the second great trans
continental system.
The AtchiSon is in itself an enor-
nous system, with it's nearly 1000 miles
of length and it's capital stock of $233
100000 and bonds outstanding to the
amount of S126OO0.OO0, but this is an
era of colossal combinations, and it is
we'll within the bounds of possibility
that the two systems may coalesce The
AtchiSon has a clear line all the way
from Chicago to Mojave, in Southern
California. 1t uses the Southern Pacific's
tracks for the sixty-eight miles be-
tween Mojave and Bakersfield, from the
latter place reaching San Francisco by
the line acquired by it last year. the
San Francisco and San Joaquin Valley
road. Recently the buying of Atchison
has been for the account of substantial
interests. The Rockefellers are heavy
owners of Atchison securities, and it is
a significant fact that the Rockefellers
have within tn last month been active
buyers of Pennsylvania stock. A third
transcontinental line, it is believed by
not few observers of the trend of
railway ownership and affiliations, will
some day be formed by the consolida-
ton of the Baltimore and Ohio, the
Great Northern and the Northern Pa
cific, but this combination is thought to
be further away than either, of the
other two.