The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1901-10-10
RAILWAY MANEUVERS
and EQUITABLE RATES


and EQUITABLE RATES.
A transportation official who keeps
in close touch with railway matters
said i'm conversation: 1.-THE extent to
which the community of ownership
has been carried and the results there
from which are to benefit the shippers
can best be demonstrated by drawing
a line from San Francisco to Newport
News, passing through st, Louis, and
another line north and south from the
lakes, through Chicago and st. Louis,
to Galveston. This divides the coun-
try into four parts, which may be de-
respectively northeast, south,
northwest and southwest. The north
east section contains what are gener-
ally known as the trunk lines and
their immediate connections. Out
side Of the Wabash, Clover Leaf, New
York, Ontario & Western and few
minor lines lines of road the railways
are controlled by the Pennsylvania
Vanderbilt-M Morgan companies. The
Pennsylvania group consists of the
Pennsylvania systems owned and con-
trOlled roads. Baltimore & Ohio,
Chesapeake & Ohio and Norfolk &
Western: the Vanderbilt Morgan
group of the New York Central sys-
TEN, owned and controlled roads,
Erie, Lehigh Valley, Lackawanna,
Reading, Big -Four and Lake Erie &
Western. While the result has not
been all that the projectors had reason
to hope for, there has been less cause
among shippers for complaint of I'M
stable and discriminative rates than
for some years past, and the curtail-
ment of the practice of making secret
rebates } the large shippers has left
more net revenue in the treasures of
the carriers. Whether or not there
will be as much success in maintain
ing rates in times of lean traffic is yet
to be determined.
''In the northwest section James
Hill, of the Great Northern, and some
of his friends in 1895 acquired over a
quarter of a million of shares OF
Northern Pacific stock at SIC share
Some disputes caused a severance OF
relatiC- between the properties: but
in 1900 it became evident that Mr.
Morgan and Mr.. Hill were co-operat
ing. Their plans looking to an out
let for their lumber led them to try
to secure the Chicago, Milwaukee &
ST. Paul in the interest of the Grea
Northern and Northern Pacific, but
the price asked by large holders o
st. Paul being too high they abandon
ed the attempt. About the middle
of February of this year, when Burl
! ington stock was selling at about 140
Morgan and Hill commenced to &C
quire the stock and i'm six weeks haC
secured control, the stock in TIT
meantime having risen to 100. Fo
this stock the Northern Pacific an(
Great Northern jointly guaran.
teed bonds issued at double the pa
value of the stock. The Burlington
is a competitor of the Union Pacific,
which had just before acquired the
Southern Pacific company S properties
To protect itself the Union Pacific
undertook to purchase a majority Of
the Northern Pacific stock, and this
resulted i'm the Northern Pacific corn
er. when the stock sold at the fabu
lous price of 81 900 share. The re-
suit of the fight was a comprehensive
agreement dealing with all the inn.
portant interests between the Missis.
sippi river and the Pacific coast, in
Guiding the Great Northen Pacific,
Uuion and Southern Pacific, Milwau-
kee & st. Paul, Chicago & Northwest.
tern, owning and controlling As, OOC
miles of road and earning some $780,.
900, 600 annually. Thus all the trans
continental roads except the Atchison
are brought into close relationship,
controlled by Morgan, Hill, Hartman
and Kuhn, Loeb & Co., acting for
themselves and those whose interests
are in their charge. These men real.