The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-08-24
NOT CAUGHT MAPPING
PENNSYLVANIA ROAD HAS NOT LOST
THE NORFOLK & WESTERN.
Instead. Cassatt's Great Company Mny
Operate Half of the wabash
Panhandle Earnings.

A high official of the Pennsylvania Rail-
road Company stated emphatically yester-
day that there is absolutely no foundation
in fact for the report that Gould interests
have secured control of the Norfolk Il
Western. The official added that nobody
need worry about the Pennsylvania posi-
ton in regard TO the Norfolk & Western
that the Pennsylvania had control for some
time and still holds that control.
In connection with the foregoing the FOL
lowing from the Chicago Tribune is inter-
esting: Division of the Wabash Railroad
system between the Missouri Pacific and
the Pennsylvania companies is reported as
one of the earliest probabilities in the line
of amalgamating competing roads. A propo-
sition has been made that the control of the
Wabash be held jointly by the roads mem
toned. with the understanding that the
lines east of Chicago and st. Louis Except
ing the Chicago-St. Louis division of the
wabash), be operated by the Pennsylvania,
and the lines west of those points. with the
Chicago division, be taken by the Missouri
Pacific. No practical separation of the Wa
bash would be made. but it would be OPP
Grated in two divisions. The plan involves
the retirement of the s., 500, 900 A d%ebentures
anu e-OsOUVsouO ID uCDtIluiC CO III tANAidi5C LOA
a new 31a per cent. bond. The AS, it is pro-
posed. are to be exchanged at par, and the
BIS are to be allowed so in new S12 per cent.
bonds.
Since the purchase of the Wheeling &
Lake Erie by the Wabash, and the latter
roads progress in building into Pittsburg,
the Pennsylvania has manifested consid-
cradle uneasiness and indirectly has made
some threats against the Gould interests
should the latter treSDdSS on the former s
territory. George j. Gould and his as
s~ociates. however, have gone ahead with
for division, which was made before Presi-
dent Cassatt went to Europe. Nothing
definite will be done until President Cas-
satt and Vice Presidents Green and Pro-
vOst, of the Pennsylvania Railroad re-
turn. 1t is possible. of course, that the
terms of the deal will be modified. The
Pennsylvania. it is said. also has offered
to enter into a close traffic agreement with
the Gould system for an outlet to tide
Recently there had been heavy absorp-
ton of the b debentures in the open mar
ket by brokers frequently employed by the
Goulds and friends of the Pennsylvania
Railroad, anu the price has materially adj
vanced. 1t is argued that the proposed deal
vania. since it wosSIS enable If to control
the rate situation in central traffic terri
tory The Wabash's new line from Mont
pelier TO Toledo will give hat company the
shortest route between Chicago and Toledo,
and its arrangement with the Big Four for
entering Cleveland, together with the new
Pittsburg road, will, il is believed, enable
that company 10 secure a large amount of
new traffic.
9Th annual meeting OF the stockholders
of the Wabash will be held at Toledo on
Oct. s, when a vote will be taken on the
proposition To acquire the Boon County
and Bonneville Railroad, nine miles in
length, extending from Centralia TO Column
bia, Mo. TIL consideration would be To
guarantee the principal and interest of the
bonds to an amount not exceeding $500. 600.
4 The directors will o1cn yafo ON tho nrnnnct-
ton to acquire the Omaha & St. Louis
railroad"