Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-04-06
HUGE RAILROAD DEAL
ONE COMPANY TO CONTROL ALL IN
THE UNITED STATES.
officials of the Southern I'm This City
Know Nothing of
4

A New York dispatch says: Reports that
huge railroad combinations are in process
of formation were widely circulated there
yesterday. Detailed statements concerning
the plan already published looking to the
combination of all the great railway sys-
TENS of the United States under the con-
troll of one company were given, but as a
general thing prominent railroad officials
and bankers declined to discuss the mat
ter. According to all accounts the enter
: prise involved the greatest combination OF
capital known in the history of finance.
1t was said the company would be form
ed under the laws of New Jersey for the
purpose of conducting a general freight
and transportation business throughout
the United States; that the company would
hold controlling interest in all of the
great railway systems, and that the man
agement of the road would be vested in
the controlling company.
According to the proposition each road
would preserve it's identity and corporate
existence, but the new company would
control the affairs of all. BY this policy
1t was claimed large sums of money could
be saved as result of economies in man.
agement and the stoppage of rate cutting.
The names of men like J. p. Morgan,
William X. Vanderbilt James J. Hill, Ed
ward II. Hartman, George j. Gould, John
D. Rockefeller, Jacob H. Schiff and James
Discussing the anal gamated road system,
the New York Press of today says:
All that is aimed at, according to the
best authority obtainable, is a community
OF interest. The close amalgamation of
community of interest basis was first
brought about through the efforts of J.
P1erpont Morgan. AS a result of this close
union of interest ruinous rate wars are
ALREADY at an end not so many high
priced officials are needed as before and
one can buy a ticket on any trunk line in
almost any one of the large offices in the
cities. However, that a single company will
pc formed under the New Jersey laws to
take over all the railroads of the country
is not considered seriously by Well-in-
formed railway men,"
Dispatches received from Cincinnati stat
ed that a gigantic amalgamation of four
railways, under the guiding hand of j.
Plerpont Morgan, had already taken place
The roads mentioned We're the Southern
railway, the Cincinnati, Hamilton and Day.
ton, the Chicago, indianapolis and Louis
VIE ana the Cincinnati Southern. Relative
to this particular report Gen. Samuel
Thomas, president of the Chicago Indian
apolis and Louisville railroad, said
AT the present time there is little to
say about the deal l believe the report
that comes from Cincinnati, however, is
little bit premature. ] don't believe the
amalgamation has been effected as yet
IT is true that steps under consid-
Grafton looking toward a combination of
the roads mentioned. | think it will be
effected. for all the interests are favorable
TO 1t. 1t can scarcely be considered an
amalgamation of the roads under the
scheme in progress. IT is merely centrali-
cation of power, looking toward the best
interests of the various roads,
There was no information obtainable at
the Southern railway offices here regard
ing the reported amalga nation of railroad
interests. All of the roads mentioned are
on specially friendly relations. The Gin
cinnati Southern is stated to be owned
jointly by the Southern and the Cincinnati,
Hamilton and Dayton. The Monon road,
otherwise the Chicago, Indianapolis and
Louisville, is said to be closely identified
with the Morgan Interests, and thus have
close relations with the Southern. There is
also strong freight traffic relation be-
tween the Southern and the Cincinnati,
Hamilton and Dayton.
Mr.. ". W. Finley, second vice president
of the Southern railway, returned to Wash
1ngton this morning. When asked by an
Evening Star reporter about the reported
combination of railroads which would in
clude all systems under central manage
ment he said:
Il have absolutely no knowledge about
the matter"