Hutchinson gazette., 1901-12-05
PUBLIC OWNERSHIP.
CONSULTATIONS or RAILROAD
POINT THE WAY,


Another step has been taken toward
the consolidation OF the railroad sys-
TENS OF the United States In the hands
Of n single group of capitalists, The
formation OF tho Northern Securities
company with a capital Of 100000
900, for the purpose OF holding the
stock OF the Northern Pacific, Great
Northern and Chicago, Burlington a.
Quincy railroads, clInches the arrange
ment by which 47,372 miles OF West
crn roads, capitalized at about two
billion dollars, have been brought nn-
der one control.
Practically this creates an entire
monopoly west OF the Mississippi, for,
while q few systems remain nominally
outside OF tho combination, almost all
OF them are In complete subIection to
it, We may say, then, that the work
OF monopollzing the West Is finished,
But when we glance at the list Of
the men who have formed this combl-
nation, and note that II contains the
names OF the Vanderbllts, the Rookie
fellers, the Gouds. j, r, Morgan, James
j. Hill B II. Hartman, Daniel s, La
mont, James Stlllman, d. o. Mills, Au-
gust Belmont H. E. Huntington, 0g-
den Armour and others as well known
In New York, II becomes plain that
the community Of interests Is by no
means confined to the West, It would
be interesting to trace the power OF
this great aggregation OF wealth
through the directorates and stock lists
OF the country. 1t seems an extremely
moderate statement to say that the
capitalists who have united In the
Western deal control at least one-half
OF the railroad mileage OF the United
States.
And II will be much easier for them
to obtain the second half than 1t has
been to get the first They know how
TO 90 to work now, and they have the
money to do It, One railroad after
another will slide gently into their
grasp until any passenger anywhere
who objects TO travelling ON their lines
can take a trolley car or walk
A few years ago this process would
have thrilled the nation with rage and
terror. We observe 1t with perfect
calmness now. II seems Il long time
since the Interstate Commerce act was
expected to prevent pooling arrange
ments" between competing roads,
We have ceased to expect anything
from competition now in the railroad
business any more than in gas and
water. We nave learned that concen-
tration in such matters Is inevitable,
and that the only question Is whether
the concentration shall be in the public
interests or against them,
Thus far the engineers Of the rail-
road combination have done a most
useful public work, They will con-
tinue to do useful public work until
the last independent road Is brought
into the general system.
If the government had undertaken to
assume control Of the railroads of the
United States few years ago, when
every road was running on its own
hook, II would have found itself facing
an appallingly complicated task AS
II is, the best business brains in Amer
lea are doing the work of organlza-
tlon for it. They are smoothing out
all the difficulties, consolidating the
staffs, harmonizlng the schedules and
creating one vast, smoothly running
machine. When they have finished, all
the government will have to do will be
to assume the debts Of the system, is
suing national bonds for stock, and
give the general manager a commits
sion from the president Of the United
States
Some of these able capitalists are
working consciously towards this end.
The rest are doing the same thing un-
consciously,