The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-07
Pennsylvania Absorbs b. & o. Securi-
derbilts, and Pools with G. & o.
IMMENSE BLOCKS OF STOCK
l.. e. & w. SHARES BOUGHT BY THE
VANDERBILTS LATELY.
With Their Control of Big Four, 1t
Gives Them a Network South of
Their Lake Shore System.

NEW YORK, Jan. e-The Tribune says:
An important railroad conference has been
in progress in this city for the last two
days at the Waldorf-Astoria NJ z. In
gals, president of the Big Four and Chesa-
peake & Ohio systems, Henry Fink, presi-
dent of the Norfolk & Western, and A. ].
Cassatt. president of the Pennsylvania
system. have all been in attendance John
K. Cowen, president Of the Baltimore G.
Ohio, Is also said to have been present.
One important matter disposed of was the
rate for hauling coal for the coming year,
but this is said to have been only an in
cident OF the meeting. For some time 1t
has been known that the vanderbilt-M Nor
gan interests were in control of the Big
have been persistent rumors, too, regard
ing combination between the Pennsyl-
vania and Baltimore G Ohio systems, and
of these two roads with the Vanderbilt
system.
HEAVY STOCK PURCHASES.
Following this mornings statement, the
Tribune. tomorrow. will say: 1t is abso-
lutely confirmed that the PENNSYLVANIA
Railroad has secured a block of 10000
shares Of the preferred stock of the Bal
timore & Ohio Railroad. 1t is further said
that the Pennsylvania has secured large
block of stock in the Chesapeake & Ohio.
This road is generally looked upon as
being controlled by j. Pierpont Morgan
and his associates, and its ultimate alb
sorption by some strong company has
been the subject of discussion by railroad
men generally. 1t is now said that the
merger of the Chesapeake & Ohio will be
with the Baltimore & Ohio, and the Nor
folk Western will also come in under
the same merger. Then, owing to the
heavy holdings of Pennsylvania interests
in the Baltimore & Ohio stock, it is said
the two roads, formerly rivals, will be
operated in absolute harmony, and the
Chesapeake & Ohio and Norfolk &Western
being eliminated, everything will be serene
in the railroad situation in that section
In the New England field the lease of
Boston e. Albany to the New York Central
is formally known. The negotiations of
the Boston & Maine, which owns the Cen
trail Maine Railroad. to take over the
Fitchburg, have been officially admitted
This leaves the New England territory
divided between the New York, New
Haven & Hartford, the New York Central
and the Boston & Maine interests. The al
lance between the New York Central and
the New Haven, owing to the entrance of
William Rockefeller into the board of the
New York Central, is complete, and a
merge of the two properties may be looked
for in the end, although such a combi-
nation can only be effected after some time
and trouble, and after many interests have
been properly cared for The Pennsylvania
might be disturbing factor in such a COM
bination, owing to close traffic connec-
ton with the Ne Haven, except for the
fact that absolute harmony exists between
the New York Central and the Pennsyl-
vania This is demonstrated in that the
Central did not oppose the acquisition of
Chesapeake G. Ohio stock by the Pennsyl-
vania and tacticly helped that road to
clarity the rate situation in that section OF
the country. A merger of the Boston &
Maine. with all it's leased lines, into the
New York Central. has been talked of, but
so far can be learned nothing has been
actually accomplished; and while many
astute railway men expect such a culmina-
ton in due time, it is not expected that it
will mature for some time.
WESTERN DEALS
1t became generally known yesterday that
the Lake Shore. which, under the consoli-
dation scheme of the New York Central,
recently became practically an integral part
of that system, has taken over the Lake
Erie & Western, which was formerly re-
garded a property of the late Calvin s.
Brice. 1t was generally understood soon
after the death of Mr.. Brice that Vanderbilt
interests had acquired all of the Lake Erie
& Western stock held by his estate and by
his immediate business associates in the
company. Since then the same interests
have apparently been picking up more
stock in the market, for within a day or
two about 60,000 shares of the preferred
stock and an equal amount of the common
are reported to have been transferred to
the name of w. * Vanderbilt. These 40 coo
shares constitute a majority of the capital
stock. 1t is understood that the new own
ers and their representatives will at once
take places on the directory and that here
after the road will be operated as a part
of the Lake Shore system. The Lake Erie
& Western owns 40 miles of road and oper-
ates In all 725 miles. Its main line starts
at Sandusky, o., which is also on the Lake
Shore road. and extends southwesterly
through Ohio. Indiana and Illinois to Peo-
ria. in the last-named State. Intersect-
ing the main line at Upton, Ind. is its road