New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-11-18
PACIFIC LINES, IN AGREEMENT.
THE GREAT NORTHERN. THE NORTHERN
PACIFIC AND THE UNION PACIFIC
TO CEASE FIGHTING.

An interesting tale printed yesterday of
two alleged combinations of great railway sys-
TENS in the West. one the Great Northern
Northern Pacific and Union Pacific, with the
Burlington mentioned a oyer: the other
the Atchison and the Southern Pacific.
"One of the highest executive officers of the
Northern Pacific Railway quoted ad-
hitting that his company about to pass
under the control of the Great Northern. 1t
was added that ]. Pierpont Morgan, James ].
Hill and the Deutsche Bank had acquired ma
jority of the stock of the Northern Pacific and
about to turn 1t to the Great North
ern, which would issue new Great Northern
stock in payment: that the Union Pacific
had bought a large block OF Northern Pacific
stock and would have representation in the
Northern Pacific Board, and that a considerable
block of Union Pacific had been bought in the
interest of the two other companies mentioned.
These arrangements, it was said, resembled the
New York CentraI-Pennsylvania agreement in
the East
1t may be said on high authority that the
story outlined above has some basis in fact
to the Great Northern, Northern Pacific and
Union Pacific. but 1t is not believed that there
is any foundation for the report that any COM
munity OF interest is about to be effected by the
Southern Pacific and the Atchison.
The beneficial working of the Pennsylvania
New-York Central agreement in the East, II is
explained, has been noted with interest by the
men in control of the northerly transconti-
mental lines who have come to the conclusion
that their properties could be operated
with better results to their shareholders and
a greater measure of satisfaction to shippers If
the possibility 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 harmonizing in
duence 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, it is declared,
the Great Northern will not purchase any
Northern Pacific stock, nor will the Northern
Pacific become a shareholder in the Great
Northern The two roads Will continue TO be
competitors. but the competition will be OF II
friendly nature. II 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 fer the present to be extended to INCLUDE
that great system
The Northern Pacific Railway Company, the
voting trust of which was dissolved only few
DAYS ago because of the financial strength which
the system had developed since the reorganiza-
ton of 1896 and the prospect the road gave OF
continued prosperity, operates a totaI OF ',7N'
miles of railway. its main line extending from
Ashland, Wis, and st. Paul, Mimi 70 Portland
oregon. The company has SSoO0oOOO common
stock and &75,00OG0O preferred and outstand-
ing bonds of S149 900 800 The Great Northern
Railway Company has lines of a total length OF
> 1872 miles, and extends from ST. Paul and pu-
luth 10 Seattle. with numerous branches, It's
main line practically paralelling that OF the
Northern Pacific. alrhough well TO the north
ward Of it. The Great Northern has outstand-
ing sos 417,2J stock, and its bonds aggregate
SOS. go 442. The stock Of both companies has
advanced rapidly in the last few days, Great
Northern preferred having gained 10 points
since fae election Northern Pacific So points
and the preferred 1H.