The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-06
One Plan, Ia Is said. ContempIates n
Company To Control All Great
Systems of the Country
IN A RUMOR WHICH HAD ITS ORIGIN
AT CINCINNATI YESTERDAY.
Monon, the C., II. a. D., the Southern
ern to he Combined, Report Says.

NEW YORK, April 5.-Reports that huge
railroad combinations are I'm process OF
formation were widely circulated here to-
day. Detailed statements concerning the
plan already published looking TO the COM
bination OF all OF the great railway sys-
TENS of the United States under the con-
troll of one company were given. but as n
general thing prominent railroad officials
and bankers declined TO discuss the matter.
According TO all accounts the enterprise
involved the greatest combination OF cap-
tai known I'm the history OF finance. IL was
said the company would be formed under
the laws of New Jersey for the purpose
of conducting a general freight and trans
portation business throughout the United
States. that the company would hold a
controlling interest i'm all of the great rail-
way systems. and that the management
of the road would be vested i'm the con-
trolling company. According 10 the propo-
sition each road would preserve its Identity
and corporate existence. but the new COM
pany would control the affairs OF all. BY
this policy. It was claimed. large sums OF
money could be saved as a result of econo-
mics in management and the stoppage OF
rate cutting. The names of men like j.
Pierpont Morgan. William X Vanderbilt.
James j. Hill. EDWARD H. t1dTTlIndns 0toTse
j. Gould. John d. Rockefeller. Jacob III.
Schiff and James StIlman were freely used.
One report stated that the first step in the
proposed plan would be the securing OF
control of the stocks Of the Chicago, Bur-
Hngton & Quincy, the Erie, the Great
Northern and the North Pacific. and that
provision would he made for the acquisi-
tion of other properties In the immediate
future.
Discussing the reported amalgamation OF
the railroad interests OF the country the
New York Press will say tomorrow: "All
that is aimed at. according 10 the best au-
thority obtainable. is a community of in
terest' The close amalgamation on
community f-interest' basis was first
brought about through the efforts OF j.
Pierpont Morgan. AS \ result of this close
union OF interests ruinous rate wars are
already at an end, not so many high-priced
officials are needed as before and one can
buy a ticket any trunk line in almost
any one of the large offices in the cities.
However, that single company Will be
formed under the New Jersey laws TO take
over the railroads OF the country is not
considered seriously by well-informed rail-
road men,
Dispatches received I'm this city to-day
from Cincinnati stated that a gigantic
amalgamation of four railways under the
guiding hand of ]. Pierpont Morgan had
already taken place. The roads mentioned
were the Southern Railway. the Cincinnati.
Hamilton & Dayton. the Chicago. Indian
apois & Louisville and the Cincinnati
Southern. Relative To this particular re-
port Gen Samuel Thomas, president OF
the Chicago Indianapolis & Louisville Rail-
road 0he Monon), tonight said; AT the
present time there Is little 10 say about the
deal 1 believe the report that comes from
Cincinnati. however. is a little bit prema-
ture 1 don't believe the amalgamation has
been effected as yet. IT is true that steps
are under consideration looking towards
a combination of roads mentioned. think
IL will be effected. for all the interests are
favorable to IL. 1t can scarcely be called
an amalgamation OF the roads under the
scheme under consideration. II is merely
Capitalization OF power looking towards
the best interests OF the various roads