The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-05-19
Scheme to Prevent the Union Pacific
being Used by One Company To
Detriment of Others.
ANOTHER GREAT PROJECT
ROCK KEFELLER CREDITED WITH
PLANNING A GREAT ALLIANCE.
Through Line from Ocean to Ocean
Embracing Some of the Lead
ing Roads of the Country.

NEW YORK, May 1s.-The Mail and Ex-
press to-day has the following on the
Western railroad situation: THE contro-
versy over Northern Pacific and resultant
conferences between the leading financiers
in Wall street have caused many changes
In pans for bringing together the West
ern railroads. The balance of power has
been radically readjusted, and some of the
powers of the financial world, notably
John D. Rockefeller and William X. Van
derbilt, have concluded to put things IN
such shape that there is not likely to be
any serious friction between rival rail-
roads. The Union Pacific is the pivotal
system, from which all of the projected
deals diverge. Messrs Rockefeller and
Vanderbilt are the controlling factors in
this property and through the large hold
ings of Northern Pacific stock acquired
by the Hartman syndicate for Union Pa
cific stock they will control the policy also
of the Northern Pacific, and indirectly the
Burlington.
Most important of the plans yet TO be
developed is that concerning the relations
between the Chicago * Northwestern ana
st. Paul companies with the Union Pa
cihc. 1t is asserted authority that the
deal to be made between these companies
involves a traffic alliance which will for
all time give the Northwestern and st.
Paul roads the desired facilities for reach
ing the Pacific coast on through traffic and
at the same time not compel them to turn
over all of their business TO the Union Pa
cihc. The Northwestern and St. Paul COM
panies will have equal facilities for ex-
change traffic with the Southern Pacific.
which is controlled by the Union Pacific.
They will also come in for their share of
the traffic originating the Northern Pa
cific and to certain extent the advantages
accrui1g to the Burlington from the North
ern Pacific and Great Northern alliance
will be diminished.
This brings matters back to the start
ing point, when the Union Pacific demanded
a share in the advantages of the Burling
ton lease A new basis will have TO be ar
ranged for interchanging traffic between
the various big railroads. and yet have none
of them conflict. But the important point is
that harmony will be preserved at any
cost, and James ]. Hill will not be per-
mitted to carry out an aggressive policy
against the Northwestern, St. Paul and
Union Pacific, as some thought he intended
to do Mr.. Hills Great Northern road is
en- new collateral trust bonds covering the
Burlington purchase, and any radical
movement on his part would only injure his
company
THE coming community of ownership,
which covers practically ali of the railroads
north OF and including the Union Pacific,
will be the greatest aegregation of corpo-
rate interests ever brought together. Mr..
Rockefeller is also working TO bring about
harmony i'm the Southwest, and in this he
has the support Of the Pennsylvania which
has acquired a large interest in Atchison
stock. George j. Gould is understood 10 be
friendly to Mr.. Rockefeller's plans, and he
is willing 10 make merger of South
western railroads. Mr.. Rockefeller, how
ever. simply desires to have close traffic
arrangements. and he prefers to keep the
Missouri, Kansas * Texas independent. j.
Pierpont Morgan's attitude to the extensive
Western railroad plans is understood TO be
cordial. Mr. Morgan's interests in North
ern Pacific will be protected. but he will
divide with these other financial giants
the control of the Western railroad situ-
alton"