The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-03-10

and Western companies had formula
ted.
The scheme in question is a CONSOLE
dalton OF all the great eastern coal IN
terestS under one management.
The Readings network of coal pro-
pertieS was such an important factor in
the plan that in Europe the genius OF
Mr.. Morgan was almost exclusively de-
voted in bringing the Reading Coal and
Iron company into line.
Mr.. Morgan was reticent regarding
his work in London, but from men with
whom he had talked and who have been
in cable touch with him during his alb
sence general explanation of his plans
was learned.
HUNDREDS OF MILLIONS
CAPITAL.
The enormous volume of capital in
vested is enough to turn the head of
any ordinary financier. Hundreds of
millions have been brought into one
trust, and months will be required to
finally adjust all the details.
J. Pierpont Morgan's visit abroad
was not generally supposed until today
to be concerned with anything affect
ing the coal interests outside of Read
ing and it's leased New Jersey Central
miles and rolling stock. When the full
magnitude of the consolidation was re-
allied there was a furry on Wall street.
A cause for the recent strength in the
coal stocks was then apparent.
Insiders have been buying the coal
stocks for several weeks on the assur-
formed which will take over all the
mines and relieve the railroads of the
management of the coal business.
Primarily it is estimated that fully
SO, 200, 900 will be saved annually in OPP
Grating expenses and the profits in
creased fully as much more by doing
away with all middlemen.
The Virginia companies are not in the
pool because they are not wanted and
have no facilities for getting their coal
into competition with that of the al
legged eastern interests. The anthracite
companies regard themselves as master
of the coal situation. The only excep-
ton made is that of the Pennsylvania
Coal Co. (Which mines soft coaD, be-
cause it depends on the Pennsylvania
railroad for reaching the seaboard. 1t
has no connection with the railroad, as
the similarity OF names would suggest.
COMPANIES IN THE COMBINE.
The companies already ~ the giant
trust are:
ty and assets, $205, 955,250 This in
cludeS the main line of railroad, all the
coal and iron companies, and 81 leased
lines operated by the company.
The Delaware, LackaWanna and
Western company-Total assets, $685.,
6OS,204. In this property are included
900 miles of double and single track
railroad, IL leased lines and branches
Especially the Morris and Essex road)
and many coal properties.
Pennsylvania Railroad company-To-
tai capital stock, Sig, 1903, 700. Inc main
and leased lines east of Pittsburg COM
prises 1857 miles of track. 1t must not
be COMPOUNDED with the Pennsylvania
company that operates all the western
Pennsylvania leased roads.
New York, Lake Erie and Western
Coal and Railroad company-Total pro-
perty and assets, 1926, sos, 205. This in
cludes 1850 track mileage, many large
coal properties, and 35 leased and con-
trolled lines.
The Pennsylvania Coal company
Stock listed on New York exchange.
S. 900, 900. The price of the shares of
ket price is $3.50. 1t is a close corpora
ton and the figures of it's combined
capital are not obtainable.
New York, Ontario and Western Rail-
way company-TOtal assets, $l5,991, 1853.
This company has a mileage of $50 and
operates four leased roads.
The Central railroad of New Jersey
Total assets, $50, $50, 790. This road OPP
crates 683 miles of track, including II
leased lines.
New York, SusQuehanna and Western
Railroad company-Total assets, $40
1O9, 22S. This company operates 227
miles of rails and taps the anthracite
region at Wilkesbarre. 1t is believed
to have recently come under Vanderbilt
control.
SchuylkilI and Susquehanna railroad
This is a small branch road in north
eastern Pennsylvania.
The combined capital of this trust is
$3.50, 1OS, 736.
William H. Truesdale, the new presi-
dent of the Delaware, Lackawanna and
Western railroad, left town after a con-
ference with J. Pierpont Morgan, to be
gone week.