The Washington times., 1901-12-31
COAL ROADS
MAY UNITE.
RumOrS Of Combination Of
Eastern Lines.
WILL AFFECT ANTHRACITE TRADE.
Pennsylvania, Vanderbilt and Nor
gan interests Believed to Have
Agreed Upon q Plan-Wan Street
Hears Many Reports-No Official
Corroboration to Be Had.

NEW YORK, Dec. 30.-There is good
authority for the statement that a COM
binatien OF the principal coal carrying
railroads Is forming which will have an
important bearing on the Eastern rail-
road situation. as well as on the anthra-
cite coal trade.
The Reading. the Jersey Central. the
Erie. the Lehigh Valley. and possibly the
Lackawanna are said to be leading factors
in thi. impending deal. Whether this
combination Will take the form OF close
traffic alliance or will rest on a COM
munity of interest basis. is still an open
question. 1t is known that powerful in
terests in this particular field are com
pleting arrangements which they believe
will be advantageous to all concerned.
Acute Interest Aroused.
Recent events in Wall Street have
aroused an acute interest in the Reading.
the Jersey Central, and the Eric Railroad
properties, and reports have prevailed
that these and other coal-carrying rail-
roads were being gradually brought into
positio-i that would permit of a concen-
tration OF the anthracite transportation
business. The controlling interests in the
anthracite coal trade have been working
in perfect accord for some time.
Pennsylvania Railroad interests. and the
Vanderbilts as we'll. are believed to be CO.
operating with the Morgan interests In or
der to secure a thorough community OF
interest in the coal-carrving traffic.
Reports In Wall street.
Rumors of the purchase Of control OF
the Philadelphia and Reading properties
by the Pennsylvania Railroad accompanied
the sharp advance In the priCr of Read
ing securities in the New York Stock Ex-
change today. The report prevailed In
Wall Street that the Pennsylvania Rail-
road interests had practically secured
control of the Reading system several
months ago. Official denials OF these
rumors were authorized from the Penn
sylvania Railroad headquarters in Phila-
delphia this afternoon.
Rnmored Vanderbilt Move.
The report was subsequently circulated
that the VanderbiIts had acquired DOM
mating interes. Iii the Reading system
as an Offset to the Pennsylvania inva-
sion of the New York CentraI's territory.
No confederation of this could be OBJ
tanned from any representative of the
Vanderbilt interests.
W. x. Vanderbilt. Il Is said. was the
only person who could give any informa-
tion about the alleged acquisition of this
property by the Vanderbilt interests, and
Mr.. Vanderbilt was not accessible.
The Readings Affairs.
The Reading system. which was reor-
ganized by ]. Pierpont Morgan. is now in
the hands of a voting trust. About a
year ago. Mr.. Morgan negotiated the pur
chase of the Jersey Central Railroad for
the Philadelphia and Reading Company.
The Reading first preferred stock was
put on per cent dividend ba-is this
year Under the terms of the voting tEust
the trustees are to hold all classes OF the
stock for FIVE years. and thereafter until
4 per cent cash dividend per annum shall
be paid on the first preferred stock for
two consecutive years.