The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1901-04-11
ROADS JOIN HANDS
A Gigantic Combine Of Railways
Said To Be Consummated.
ALL UNDER One MANAGEMENT
Amalgamation Alleged To Be the
Work of Magnate Morgan.
Community of Interest.

A Cincinnati special says: A gigantios
amalgamation of four railroads, It u:
said, has just been effected. The
roads are the Southern railway, the
Cincinnati, Hamilton and Dayton. The
Chicago, Indianapolis and Louisville
and the Cincinnati Southern. J. Pier
r mt Morgan is reported to have formed
the combine.
This consolidation has been k6-
quently agitated in connection with
the pending renewal Of lease OF the
Cincinnati Southern to the Southern
railway, but the officials Of the two lines
deny that anything has yet been done
that will warrant the announcement 0E
consolidation.
Theirs was no information obtainaba9
at the Southern railway Offices IN
Washington regarding the reported
eamalgation Of railroad interests All
of the officials possibly competent to-
talk regarding the alleged deal ara olt
of the city. ALI Of the roads men.
tioned.are on specially friendly relss
tions. ssssS'
The Cincinnati Southern 10 stated toSI
be owned jointly BY the Southern and
the Cincinnati, Hamilton and Dayton
The Monon road, otherwise the CHI
cago, Indianapolis and Cincinnati tn
said to be closely identified with the
Morgan interests and thus have oioG6s
relations with the Southern. There
is also strong freight traffic relation;
between the Southern and the Gincius
natl, Hamilton and Dayton.
Reports that huge railroad comhinr
ations are in process Of formation
were widely circulated in New Fork
Detailed statements concerning the
plan already published looking 20 tn
combination of all the great railway
systems of the United States undo
the control of one company were giYs
en-, but as a general thing promineut
railroad officials and bankers declined
to discuss the matter.
According to all accounts the enter
prise involved the greatest combina-
ton of capital known in the history ot
finance. It was-said -the->compAnX
would be formed under the lava a.:
New Jersey for the purpose Of Co.'s,
Quoting general freight and iraus-;
portation business throughout the
United States; that the company would
hold q controlling interest in ell Of the
great railway systems and that the
management OF the roads would bes
vested in the controlling company, s;
According to the proposition, each
road would preserve its identity and
corporate existence, but the new comps
ny would control the affairs Of ell. By
this policy it was claimed large sums
of money could be saved as result 90
economies in management and thu
stopping of rate cutting. The name
of men like J. p. Morgan, William Ks
Vanderbilt, James J. Hill, Edward h.
Hartman, George J. Gould, john d.
Rockefeller, Jacob a. Schif and Jas
Stillman were freely used.
One report stated that the first step
in the proposed plan would be Tie
securing of control Of the stocks ot thes
Chicago, Burlington and Quincy. the
Erie, the Great Northern and Norris
ern Pacific, and that provision would
be made for the acquisition Of other
properties in the Immediate future.
All that is aimed at, according TO thu
best authority obtainsble, is ascona-
munity of interest. The close amal-
gamation of community OF interest
basis was first brought about through
the efforts of J. Pierpont Morgan. H.
result of this close union OF interest
ruinous rate wars are already at m
end, not so many high-priced officials
are needed as before, and one can buy
ticket on any trunk line in almost
any one of the large Offices In the cit-
les. However, that single COMPANY,
will be formed under the New JERSEY
laws to take over all the railroads OF
the country is not considered seriously
by we'll informed railway men.