The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-04-03
rally WAYS
A Big Combine Is
Being Talked of
Nowadays.
FOR MUTUAL PROTECTION
Planned to Take in All
Large Cities Of
the State.
FOR MUTUAL PROTECTION

The very newest thing in trusts is the
announcement that the street railways
of Massachusetts, are going to form a
combine for their mutual protection
and gain. During the past week ru-
mors have been flying around Worces-
ter. Boston and other prominent cities
in the state to the effect that the off,
Gals of the Boston Elevated Railroad
Company were making overtures to
other large street railway corporations
and were sounding them in regard to
their feelings as to the formation of a
combine
1t was stated that a formation Of
their allied street railway interests
would be beneficial in more ways than
one. If they wish to extend their lines,
increase their rolling stock or should
happen to have on their hands any
amount of stock which they wished to
float on the market advantageously,
it could be handled much better by one
board Of managers than by individuals.
The rumor has created no end of talk,
and considerable figuring has been done
by street railway men. During the
past two weeks the stock Of the Bos-
ton Elevated Railroad Company has
taken a big jump. This sudden rise
was unexpected, and no reason could
be given. The rumor, it is said, has
been the talk of Boston for over a week
and those who should be in a position
to know. have said that the Elevated
has a gigantic scheme in its mind The
formation of a combination means more
than appears on the surface, as the
street railways Of Boston and it's sub
ur-bA as well as Worcester, Spring
field and other cities, represent millions
of dollars OF capital, and if a trust
were formed. it would be one of the
largest in New England at the present
time.
Railway men of Worcester who have
been approached, state that the propo-
sition has not been made to the COR
porations which they represent. Pres
ident Dewey of the Consolidated was
interviewed by a Spy representative
last evening. He was asked If his
company had been asked to help along
the scheme. Mr.. Dewey said that he
had not heard of any proposition to
combine the street railway interests of
Massachusetts. He says that the rise
within two weeks of the Boston Ele-
waited Railway Company's stock was
the cause of no end of comment ana
possibly was the origination Of the ru-
NOR He also said that there was a
possibility that the Boston Elevated
or some paEty Of street railway pro-
motors had in view the formation of
a combination. He thought that if the
larger combinations in the state did
organize, it might be beneficial In some
ways.
President Dewey would not state the
position the Consolidated would take If
the trust were formed.
A consolidation of all railroads IN and
about Worcester has long been consid-
cred to be one of the things that
would happen in the very near future.
and since the Suburban's trials and
tribulations, this matter has been talk
ed over to q greater extent than 1t has
ever been before. 1t is thought that
the Suburban would willingly dispose
of its property if they could get the
desired price and street railway men
say that the Worcester and Clinton and
the Marlboro road are also ready to
sell to the highest bidder at any time.
If the street railroads of Massachu-
sets do combine they will all probably
be managed in an entirely different
manner and it might possibly be a ben
eft to the employees and to the trav
cling public Another feature of their
combination would be that they could
more successfully. perhaps, fight all
measures that came before the legisla-
ture, that were not in their favor, and
this would mean considerable to them.
An Associated Press dispatch from
Lawrence last night says:
"IVhe Lowell, Lawrence and HaVer-
hill Street Railway line has been rur-
chased by New York people, said to be
a syndicate of which J. Pierrepont
Morgan is at the head. The portion of
the stock bought was that held by the
Industrial Improvement Company,
which company owns the majority CT
stock. The deal involves the transfer
of the greater part Of $3,000,0O0 worth
of stocks and bonds,".
The j. Pierrepont Morgan syndicate
is supposed to be heavily interested in
the Boston Elevated road. If indeed 1t
does not own a controlling interest IN
it. 1t is probable that the same syndi-
cate that is operating in the eastern
part Of the state has it's eye on the
Worcester roads.