Arizona daily citizen., 1901-06-05
TOO MUCH COMBINATION DANGEROUS,

In yesterdays Citizen there was published dis
patch from New York predicting tho consolidation
under one management of all the transcontinental
railroads west of the Mississippi River 1t was ex-
planned that this result of the recent fight on
the stock exchange between rival interests in the
Northern Pacific We believe that such policy of
consolidation would be disastrous to the railroads
and to the people. Ifone management can run half
score of railroads. why not the government? and
why not government ownership?
The stock jobbing operations connected with
the recent struggle for control of the Northern Paci
fc Railroad have passed into history. They brought
the New York Stock Exchange to the verge Of
panic, caused heavy losses to investors, and, tenn
porarily at least, disturbed values to disastrous
degree. That the struggle has ended, not eve n
the best authorities say, for it is even now
a mooted question whether the interests which are
most concerned in retaining control OF the Northern
Pacific have accomplished their purpose. If the
Morgan-H interests are still in control there seems
little doubt that they will eventually establish a
transcontnenta railroad system of colossal proper
tons
The moving spirit in this project is Mr. James
J. Hill. Mr.. Hill is "A practical man with an magi-
nation which, it is said, while highly developed,
never runs away with his judgment Not until he
became interested in the Northern Pacific did that
railroad become profitable enterprise. Mr.. FL. L,
Nelson describes the characteristics of this great
railroad manager in an article in the current num-
ber of Harpers Weekly. Mr. Hill is Canadian who
settled in the West 45 years ago, Later he went
back to Canada and entered the service of the Hud-
son Bay Company. but finally returned to Minnesota
and began the construction of the Manitoba rail-
road, which ran into the Red river wheat country
This road expanded and ultimately became the Great
Northern railroad 1t is Mr. Hills proud boast that
it had never missed paying dividend and that it
was constructed without dollar of Government
money Mr.. Hill is a master of detail. "He knows .
writes Mr. Nelson, what his road costs; he knows
thoroughly the country through which it passes, its
products, its capabty its people and their capacity
He knows also the promise of each season, and his
Imagination walks into the future as sureooted as it
is permitted the Imagination to do
These are tho characteristics Of this ideal railroad
man, and his especial knowledge combined with Mr.
J. P. Morgan's genius for finance may eventually
assure the of the transcontinenta railroad
project in which thoy jointly Interested 1t is
project which, if undertaken by less practical mon,
Morgan Mr. Hill appear to have such word as
failure in his lexicon, although they had unpeas-
antly close call in tho recent operations in Wall
street, when they were compelled to make a despe-
rate fight to retain control of property which is es
sential to their ambitious scheme to establish an
American route to Asia IL events show that they
were the vctors in the struggle, they may yet prove
to the world by the success of their transportation
I;on kEnk,
brains, grit and practical capacity.
But il they succeed in establishing it, how long
will the people lot it lastp Combination suggests
greater combination, and there cannot be greater
combination than Government ownership, under the
direction, let suppose of Secretary of Transpor-
tation in tho cabinet.
We do not believe that greater calamity than the
Government ownership of railroads, with all that it
involves, and all its coraares could be suggested;
but ii private combination goes too far and compe-
titon DO destroyed, Government ownership will be
made not only suggestive but attractive,