The Washington times., 1901-11-14
A Gigantic Railway Deal.

What is generally known as the
Northern Pacific settlement is more
than likely 10 take the form Of the
greatest railway combination ever
made in the United States. The outline
of the plan Indicates that it may result
in the combination under one manage
ment OF the Northern Pacific, the I'm
ion Pacific. the Southern Pacific, the
Great Northern. the Chicago, Milwau-
kee and st. Paul. the Chicago. Burling-
ton and Quincy, and the Chicago shd
Northwestern. These seven great prop
critics represent about forty seven thou
sand miles Of trackage, a capitalization
Of more than billion dollars, and
bonded debt of a little less than a bill
lion
The details of the proposed plan are
meagre, and the outline of ii, as pub
lished, may not be strictly accurate.
Nevertheless, there is ample reason to
believe that for some time past neso-
tiations have been in progress looking
TO a combination OF some of the lead
ing roads named, and the consumma-
tion may be uniting of them all At
this time the American public is pretty
well accustomed to big financial deals.
The formation of billion dollar Steel
Trust has prepared the country for al
most anything that may happen in the
way of combining great interests.
Hence, we are not especially startled
by the figures quoted. still. if this re-
port is true. the transaction will be the
-.
has ever ben consummated in this or
any other cOuntry-not merely because
Of the amount of capital combined, but
by reason Of the vast public interests
TO be affected.
4 union OF the companies named
would lay under tribute practically the
whole Of the United States west of the
Missouri River, and a no inconsider-
able portion of the territory east Of
that stream. But west of the river
named. the country Is new, sparseIy set
tied, and presents almost unlimited
opportunities for development What
these roads are now worth is but a
small fraction Ct what their value viii
be two or three decades hence To q
very great extent the destiny of that
whole vast region viii be in the hands
of the men who control these great
transportation lines. They viii have u
complete monopoly Of the traffic They
may build other trunk lines, or they
may not. They may build feeders and
whether they do so or not viii depend
entirely upon what their own interests
seem - demand. Anything in the way
Of independent railway competition viii
be impossible. In a broad sense the in
terests of the management will be best
subseryed by contributing in the most
liberal way TO the upbuiIding of the
States and Territories traversed by the
roads, but, unfortunately that policy
does not always prevail. Not infre-
quenty railway companies look at their
immediate interests rather than into
the larger field of the future. Ia any
event one is almost appalled, at the
thought Of so much power being lodged
in the hands of a few men. In that
country of vast distances, the control
of transportation facilities is the great
est element Of power that can be vested
in any body OF men, and the possibiii-
ties which II presents are well calcL-
lated 20 create apprehension.
Nor can we suppose that Fl this deal
is carried through successfully. the