The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-02-02
4 BIG RAILROAD DEAL
Continued From First Page.)

continued From flrSt faSe.)
100000 and the Gould and Rockefeller
interests each to the same amount. II
Is believed that George Gould will be in
vited into the present syndicate, if he
has not already Joined.
The Union Pacific already has an out
let to the Pacific coast through its
stock control of the Oregon Short Line
and the Oregon Railway and Naviga-
ton company. But these lines reach
the extreme northwest in Washington
and Oregon. The Central Pacific branch
of the Southern Pacific, however, will
give the Union Pacific a direct route,
almost an air line route, from Ogden,
/ it's present westernmost terminal, to
San Francisco The Union Pacific will
not have direct route eastward from
San Francisco to Omaha and Kansas
! City.
| 1t appears highly significant that the
announcement OF the purchase of the
control of the Southern Pacific should
follow so closely on the heels of the
purchase by Mr. Hartman of the con-
troll of the Chicago TERMINAL Transfer
company, its connecting lines A week
ago Mr., Hartman bought the Deutsch-
err Bank Holdings of this company
through Kuhn, Loeb & Co., who were
interested with him in the deal and who
are likewise interested with him in the
present deal. The present terminals in
and about Chicago are owned by the
terminal company. They comprise i6o
acres with a total of $50 miles OF track.
The company also owns the Grand Cen
trail passenger station and $500 feet OF
docks on the Chicago river.
The consensus of the opinions of men
interested in railroad and stock mar
kets is that the price paid for the Hun
tington shares was about $50 per share.
The Speyer holdings are known to have
aggregated about $4,000, If not 100000,
so that with the Huntington block, the
new interests have about l,00000O
shares, or half the capital stock.
The statement that Union Paclhc-
Hartman interests predominant In the
syndicate may be made on authority
The syndicate is composed, in the first
place, of the capitalists who have been
behind r. H. Hartman, including
Kuhn. Loeb & Co., who, It will be re-
called, have very close relations with
the Pennsylvania railroad interests
and second the Rockefeller interests,
represented by the National City bank,
About one year ago--before the death
of Mr.. Huntington-wha was known
as the Speyer- Huntington syndicate, !
acquired, according to published re-
ports, the Crocker holdings, value $29,.
100000, and Stanford holdings, 100000, /
000 and the Hubbard holdings, $1,000, |
ia Ia
that the syndicate had purchased the
Searles holdings of s25,OO0,00O, but this +
was subsequently denied. 1t is of inter-
est to note that, at the last annual /
Of the Southern Pacific Mr..
Huntington voted nine-tenths of the +
stock. which included the proxies of .
Speyer & Co. and their friends.
The total authorized stock of the
Southern Pacific Is 200.000,000, includ-
ing $67, 274200 of the Central Pacific. It
operates a great system of roads ex-
tending from San Francisco to New
Orleans thence by companys steamers
to New York, etc., and to Portland,
Ore, to Ogden, Utah, with branches
The importance OF the new deal grows
when viewed in connection with the ac-
luiSitioi III ANoNcii'ei idSt ny the
Southern Pacific of the Pacific Mail
Steamship company, with its immense
distributing power on the coast. The
acquisition of the Southern Pacific is
merely another move in the community
If interest policy, which has already
secured such vast hold on the rail-
'oads of the country, 1t means the es-
Adjustment Of an all-rail trans-conti-
rental road governed directly by this
policy.
The Southern Pacific company is said
o have the largest capitalization of any
If the American roads, its stock being
capitalized at 5000, 100000. The properties
oncerned in the deal directly and in
lirectly represent it is said, an invest ..
nent of $685. 0O0