New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-01-07
THE RAILWAY SITUATION.
raxpERBITs SECURE THE LAKE ERIE
AND WESTERN.
VARIOUS PLANS OF CONSTELLATION
MERCER AND AGREEMENT, RAILROAD
MEN SAY. ARE GREATLY M
VARIOUS PLA,
PROVING THE CONDITIONS.

PROVING THE CONDITIONS.
The railroad situation. according TO the almost
unanimous statement Of railroad men from all
narts o. the country. was never better than 81 is
3. ureseut vsrious plans OF consolidation,
mergers and traffic agreements involving the big
listens in New England and the East and their
-rrtburary lines sre being worked out slowly but
surely. and the result is great increased earn
,nes. stability Of rates and general good feeling.
r WIS earned yesterday that William K. Van
sArbilt who IS looked upon as the leading spirit
!, these huge railway transactions. is about to
20 abroad. and that various matters which have
h., under consideration for time Will be
t-ourht 70 3 close before his departure. For
nal announcement viii be made Of the various
abroad combinations which have been under
wav- Just when Mr. Vanderbilt viii go could
MT be aseertsined yesterday. but II is expected
inst Il VIII be some time within the next few
weeks.
Aside from the conference at the Waldorf
Astoria. tod Of n The Tribune yesterday. vari-
CHS conferences have taken place IN New-Yors
within the last few weeks Most Of these con-
,erences have been relative 70 rates and traffic
allotment. It IS absolutely confirmed. however,
thar the Pennsylvania has secured G block Of
-en thousand shares Of the preferred stock OF
tbe Baltimore and Ohio Railroad. II is further
said that the Pennsylvania has secured a large
b1ork Of stock in the Chesapeake and Ohio This
mad Is generally looked upon as being controlled
ny Pierpont Morgan and his associates, and
.ts ultimate absorption by some strong company
rss been the subject Of discussion by railroad
80 generally Such action has been forecast
by The Tribune. Il is said that the merger
~ the Chesapeake and Ohio viii be with the
baltimore and Ohio. and that the Norfolk and
western VIII also come in under the same
merger. Then owing 10 the heavy holdings Of
PENNSYLVANIA. interests in Baltimore and Ohio
stock II IS said. the two roads formerly rivals,
viii be operated in absolute harmony, and the
Chesapeake and Ohio and the Norfolk and West
err VIII be eliminated and everything viii be
serene IN the railroad situation IN that section
d The country.
II New-England the lease Of the Boston and
Albany 10 the New-York Central is formally
known. The negotiations OF the Boston and
Maine. which owns the Maine Central Railroad,
70 take over the Fftchburg have been officially
admitted. This leaves the New-England terri
tory divided between the New-York, New
Haven and Hartford. the New-York Central and
the Boston and Maine interests. The Tribune
has pointed out that the alliance between the
New-York Central and the New-Haven. owing
70 the entrance Of William Rockefeller into the
Board Of the New-York Central. was complete,
and that merger Of the two properties might
biuariou could only be effected after some time
and trouble and after many interests had been
properly cared for. The Pennsylvania might be
e disturbing factor in such combination. owing
70 us close traffic connections with the New
Haven. except fer the fact that absolute har-
r7ony exists between the New-York Q 1tral and
the Pennsylvania This is demonstrat in that
the Central did not oppose the acquisition Of
Chesapeake and Ohio stock On the part Of the
Pennsylvania. and tacitly helped that road 70
clarity the rate situation IN that section Of the
country. A merger Of the Boston and Maine,
With all its leased lines. into the New-York
Central has been talked Of, but so far can
be learned nothing has been actually accom-
pIshed and while many aEtute railway men
expect such a combination il due time II is not
expected that il viii mature for some time.
All Of these proposed, or effected consolida-
tiors and mergers are in the interest Of har-
Inony ard maintenance Of rates, and have been
most effective II accomplishing this end One
CT the interesting Developments Of the day yes
terday was the fact that it became generally
known that the Lake Shore. which under the
consolidation scheme OF the New-York Central
recently became practically integral part Of
that system. has taken over the Lake Erie and
Western which was formerly regarded e
property OF the late Calvin s Brice-
Il was generally understood that soon after
the death Of Mr.. Br1ce the Vanderbilt inter
had acquired all OF the Lake Erie and West
eru stock held by his estate and By his i'm
mediate business associates in the company.
Since then the same interests have apparently
been picking up more stock in the market, for
within & day two about 5000 shares Of the
preferred stock and. equal amount of the
common reported 10 have been transferred
10 the name Of ". +. Vanderbilt. These 10000
shares constitute q majority OF the capital
stock It IS understood that the owners
and their representatives will at once take
places On the directory. and that hereafter the
road VIII be operated as z part OF the Lake
Shore system
The Lake Erie and Western owns 10 miles
Of road and operates IN all 725 miles. Its main
lire starts at Sandusky Ohio, which is also on
the Lake Shore road. and extends southwesterly
through Ohio. Indiana and Illinois 10 Peoria, in
the last named State Intersecting the main
line al Upton. Ind. is its road from Michigan
City. Ind. Lake Michigan, and from Muncie,
Ind. its branches extend nortIlward 10 Fort
Wayne, Ind. and southwark TO a connection
with the Cincinnati. Hamilton and Dayton road
through which IL has access TO Cincinnati.
Tie Cleveland. Cincinnati. Chicago and ST
Louis-the Big -Four" road-which II is an
nounceG is now fully controlled by the Wander
bits. occupies IL part the same field with the
Lake Erie and Western. although its ramifca-
Lake Erie and Western The total mileage Of
the Big Four system is > "a miles. Besides the
line from Cleveland. On the Lake Shore road, to
Columbus and 70 Cincinnati, IL has, Ike the
Lake Erie and Western, a line from Sandusky
. miles west Of Muncie, 4 branch runs northward