The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-11-19
SPECIAL BY CARLE.

SPECIAL BY CABLE.
London, Monday, Nov. 1a.-{Copyright.
1900. by the New York Herald Company)-
From a high English financial authority.
who IS closely in touch with American rail-
way affairs, I learn that plans are matur-
Ing for the absorption of the Erie and
Wabash systems by the New York Central.
The Erie is the last of the great trunk
lines east Of the Mississippi to come into
the Vanderbilt fold. When 1t comes into
the Vanderbilt control. the two great East
ern systems, which have been brought into
such close relations through the operations
of William K. vanderbilt-the New York
Central and Pennsylvania-will have taken
possession Of about all there is in the East
worth having in the way of floating prop
erty.
The Erie has suffered so much from over
Capitalization and mismanagement since the
days of Fisk and Gould that its shares have
long been a drug on the market. William
X. Vanderbilt has been quietly buying Eries
in the open market. but whether New York
Central is to acquire the property by pur-
chase or lease is not yet known. One of
these two methods. however. has been
adopted.
The London authority who gives me this
Information says that the many English
holders of Erie shares will be highly graft
over the property, and put 1t on solid
foundation. The plans are so well matured
he added. that a public announcement of
the deal may be expected within fort
night.
For a long time the acquisition of the
Wabash system has been under considera-
tion by the Vanderbilts. The chief obstacle
has been the disinclination of the Wander
bilts to take over lines west of the Mlssis-
sippi River, but now the negotiations are
pending for turning over the Wabash lines
between the river and Kansas City to the
Atchison system.
The Atchison now has lines out Of Chi
cago to Kansas City but not to ST. Louis
1t lost st. Louis when the st. Louis and
san francisco Railway was taken out of
the Atchison combination. By acquiring the
wabash lines west OF the Mississippi the
Atchison company will again have direct
route into st. Louis.
The New York Central. according to pres-
ent plans. will take over the Wabash lines
east Of the Mississippi
Mr.. Robert Fleming. whose large inter
ests in America place him in the first rank
OF Anglo-American financiers Is now on
MIS- way to New York on the Oceanic. With
MIN Is Mr j. P. Morgan, Jr. Mr.. F1eming's
visit will. understand. result in important
developments in the affairs of three rail-
way properties. the Atchison. Chicago and
Great Western and the Denver and Rio
Grande.
Mr.. Samuel Hill is in Berlin in connection
with the rumored plan of his brother, Presi-
dent James ]. Hill Of the Great Northern
Railway. to obtain control Of the Northern
Pacific.
RAILROAD TRUST NEXT.
REPUBLIC SPECIAL.
New York. Nov. 1S.-The cabled announce
ment that the New York Central is to ac-
quire the Erie and Wabash systems, turn
ing over the western end of the latter to
the Atchison, Is doubtless true In part The
New York Central as a corporation, how
ever. has probably been confounded with
the Vanderbilts as individuals. Under the
charter Of the New York Central. granted
by the State of New York, 1t could not ac-
quire by lease or purchase a parallel or