The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-04-09
PLAN FOR CONTROL OF ALL GREAT
RAILWAYS OF THE COUNTRY.
ALL UNDER ONE CORPORATION.
Greatest Combination OF Capital In
the History OF Ffnance-Each Road
TO Preserve Its Corporate Existence,
but the New Company to Control tho
Affairs or Ail-The Southeru's CONF
bine with Three Big Railroads OF tho
West.

New York, April s.-Reports that
huge railroad combinations are IN pro-
cess OF formation were widely circulat-
ed here today Detailed statements
concerning the plan already published.
looking TO the combination OF all the
great railway systems or the United
Statas under the control OF one compa-
ny, were given, but as 4 general thing
prominent railroad officials and bank
ers declined TO discuss the matter. Ac-=
cording to all accounts. the enterprise
involved the greatest combination OF
capital known in the history OF finance.
1t was said the company would be
formed under the laws OF New Jersey
for the purpose OF conducting q gener-
al freight and transportation business
throughout the United States: that the
company would hold a controlling in
terest in all OF the great railway sys-
TENS and that the management OF the
roads would be vested in the con,roll-
ing company.
According 10 the proposition each
road would preserve its Identity and
corporate existence. but the new COM
pany would control the affairs Of all.
by TINS policy IL was claimed large
sums of money could be saved as a re-
suit OF economies in management and
the of rate cutting.
The names OF men like j. z. Morgan,
William X. Vanderbilt. James j. Hill.
Edward III. Hartman, George j. Gould,
John ID. Rockefeller, Jacob IL. Schin.
and James Stillman were freely used.
one report stated that the first step
IN the proposed plan would be the Sc
curing OF control of the stocks - the
Chicago, Burlington and Quincy, the
Erie, the Great Northern and the
Northern Pacific, and that provision
woul be made for the acquisition of
other properties in the Immediate fu-
ture.
Discussing the amagamated road sys-
tenn The New York Press tomorrow
will say:
"AIl that is aimed at. according TO
the best authority obtainable is a COM
munity Of interest. The close amalga-
nation on a community OF interest
basis was first brought about through
the efforts of j. z. Morgan.
LAS 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 COM
pany will be formed under the New
Jersey laws to take over all the rail-
roads of the country is not considered
seriously by we'll informed railway
men,"
Dispatches received in this city to-
night from Cincinnati stated that a
gigantic amalgamation of four rail-
ways under the guiding hand of J.. ri
Morgan had already taken place. The
roads mentioned were the Southern
railway. the Cincinnati. Hamilton and
Dayton. the Chicago. Indianapolis and
Louisville and the Cincinnati Southern.
Relative to this particular report
General Samuel Thomas. president Of
the Chicago. Indianapolis and Louis
VILE railroad, tonight said:
a the present time there is little
to say about the deal I believe the re-
port that comes from Cincinnati. how
ever. is a little premature. I don't be-
lieve the amalgamation has been eff
fected as yet.
1T is true that steps are under on
sideration looking toward n combina-
ton of the roads mentioned. I think IL
will be effected. for all the interests are
favorable to IL. 1t can scarcely be con-
sidered an amalgamation of the roads
under the scheme in progress. 1t Is
merely Capitalization OF power looking
towards the best interests of the varf-
u roads,"