Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1901-04-11
GREATEST OF ALL
RAILROAD DEALS
COMPANY FORMING TO CONTROL
ALL SYSTEMS.
UNDER NEW JERSEY LAW
Most Gigantic Combination of Capital
in History of Finance Said to Be In
Process of Formation-HiII, Nor.
gan. Gould and Vanderbilt Said to
Be Interested.

New York, April 6.-Reports that
huge railroad combinations are in
process of formation are widely circu-
lated here. Detailed statements con-
corning a plan already published look
ing to the combination of all the great
railway systems of the United States
under the control of one company
were given, but as a general thing
prominent railroad officials and bank
ers declined to discuss the matter.
According to all accounts the enter
prise invoked is the greatest combin-
alton of capital known in the history
Of finance.
It was said the company would be
formed under the laws of New Jersey
for the purpose of conducting a gen
.eral freight and transportation bus
mess throughout the United States
and that the company would hold the
controlling interests in all the great
railway systems and that the manage
ment of the roads would be vested in
the controlling company. According
to the proposition each road would
preserve its identity and corporate
existence but the new company would
control the affairs of all. BY this pol
icy it was claimed large sums of
money could be saved as a result of
economics in management and a stop
page of rate cutting. The names of
men IKE j. Pierpont Morgan, William
K. Vanderbilt, James J. Hill, Edward
FL. Hartman, George J. Gould, John
D. Rockefeller, Jacob H. Schiff, James
Stiilman 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 Chi
cago, Burlington & Quincy, the Erie,
Great Northern, Northern Pacific and
that provision would be made for the
acquisition of other properties in the
immediate future.
Discussing the reported amalgama-
ton OF railroad interests of the coun-
try the New York Press will say this
morning: "All that is aimed at, &C.
cording to the best authority obtain
able, is community of interests A
close amalgamation on a community of
interest basis was first brought about
through the efforts of J. Pierpont
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 of the,
large Offices in cities. However, that
a single company should be formed
under New Jersey laws to take con
troll over all the railroads of the conn
try is not considered seriously ~
well-informed railway men,"
Dispatches received last night from
Cincinnati stated that gigantic
amalgamation of railroads under tie
guiding hand of J. P. Morgan had al
ready taken place. The roads men
toned were the Southern Railway,
the Cincinnati, Hamilton G Dayton,
the Chicago, Indianapolis & Louis
vile and the Cincinnati Southern
Relative to this particular report Gen
eral Samuel Thomas, president Of the
Chicago, Indianapolis & Louisville
railroad last night said:
AT present there is little to say
about the deal. I believe the report
from Cincinnati, however, Is a little
premature. I don't believe the ANAL
gamation has been affected as yet
1T is true steps are under consider
alton looking toward a com bination
of the roads mentioned. | think it
will be effected, for all interests are
favorable to it,