The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-19
PACIFIC LINES IN HARMONY.
Three Great Railways to Cease Tkeis
HOatilitieS

NEW YORK. Nov. 1S.-An interesting
story was printed yesterday of two alleged
combinations Of great railway systems in
the West. one the Great Northern North
ern Pacific, and Union Pacific. with the
Burlington mentioned as flyer" the
other the Atchison and the Southern Pa
cific.
One Of the highest executive officers OF
the Northern Pacific Railway was quoted
as admitting that his company was about
to pass under the control of the Great
NoNhern. 1t was added that ]. Pierpont
Morgan. James J. Hill, and the Deutsche
Bank had acquired majority OF the stock
of the Northern Pacific. and were about to
| turn it over to the Great Northern. which
would issue new Great Northern stock in
payment; that the Union Pacific had bought
| large block of Northern Pacific stock and
would have representation in the Northern
Pacific board, and that considerable block
OF Union Pacific had been bought in the In
terest Of the two other companies men,
toned. These arrangements, it was said,
resembled the New York CentralPennsyl-
vania agreement in the East.
1t may be said on high authority that the
story outlined above has some basis in
fact as to the Great Northern, Northern
Pacific, and Union Pacific: but it is not be-
lieved that there is any foundation for the
report that any community OF interest is
about to be effected by the Southern Pa
cific and the Atchison
The beneficial working OF the Pennsyl-
vania-New York Central agreement in the
East, it is explained, has been noted with
interest by the men in control of the north
erly trans continental lines. who have come
to the conclusion that their own proper
ties could be operated with better results
to their shareholders and a greater meas
ure of satisfaction to shippers il the pos
sibility of rate wars could be done away
with. With that end in view, 1t Is said,
stock has been accumulated. until now the
same three or four interests are the largest
individual shareholders in both the Great
Northern and the Northern Pacific, and
their harmOni2ing influence will be potent
in the councils of both those corporations.
Neither the Pennsylvania nor the New
York Central owns any of the stock Of its
ally, and similarly, 1t is declared. the Great
Northern will not purchase any Northern
Pacific stock. nor will the Northern Pa
ctic become a shareholder in the Great
Northern. The Two roads will continue to
be competitors, but the competition will
be of friendly nature, it is understood
AS to the Union Pacific, there seems no
reason to believe that the unofficial but
nevertheless effective Northern Pacific
Great Northern agreement is likely for the
present to be extended to include that great
system.
The Northern Pacific Railway Company,
tho voting trust of which was dis
solved only a few days ago because of the
financial strength which the system had
developed since the reorganization OF 1896 |
and the prospect the road gave of continued |
operates a total Of 5,4S7 miles |
Of railway. its main line extending from |
Wis, and st. Paul, Mimi, to |
Portland, Ore. The company has $4,000
600 common stock and SIS 600. 600 preferred,
and outstanding bonds of s149, 9G0. 500. The
Great Northern Railway Company has lines
of a total length of Sap miles. and ex-
tends from st. Paul and Duluth to Seattle,
with numerous branches, its main line !
paralleling that of the Northern
Pacific although we'll to the northward of
it. The Great Northern has outstanding
s9S, Ali. $50 stock. and its bonds aggregate
s9Sr22O, 442. The stock of both companies
has advanced rapidly in the last few days.
Great Northern preferred having gained ten
points since the election, Northern Pacific
eight and one-half points. and the preferred
seven and One-half points.