The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-20
Southern Pacific Lines to Form the
Key to the Coming Big
Combination.
WILL BE TRANscoN1INENTAL.
Many Northwestern and South
western Roads to Be Taken In
Marketing Northern Pa
cific Stock - Notes.

REPUBLIC SPECIAL.
New York. July la.-Wan street was fall
Of rumors to-day of an important develop
ment in the community Of interest" situa-'
ton among the great transcontinental lines
and this was regarded as the reason for the
strength shown in certain stocks during a
part OF the day. The arrangement, as out
lined. involves such community between
the great Northwestern and Southwestern
roads as will make them, to all intents and
purposes. one system.
The Southern Pacific lines, now a part OF
the Union Pacific system. affords the key
In the combination. which Is likely to be an
nounced now at any time. Its terminals at
Galveston. Santa Moneca. opposite Los An
geles, San Francisco and Oakland, with the
connections between these ports along the
coast. have given the Southern Pacific an
advantage over all the Western transcon-
tinental lines
by the plan about to be announced. the
Northwestern roads, with terminals at sin
gle points along the Northern Pacific Coast.
VIII be allowed to use the Southern Pacific
terminals in common with the Missouri Pa
cine, Texas and Pacific and other great
southwestern roads. on condition of their
faithrulness in the community principle.
1t Is understood that the combination takes
IN many subordinate roads and is practically
erahscontfnental in its effect as the leading
stockholders OF the largest Eastern systems.
including the Pennsylvania and Vanderbilt
lines, are equally interested with those of
the western roads. This view prevails in
banking circles. and it is further stated that
When the plan reaches its full DEVELOPMENT
II VIII accomplish as much for railroad uni
Hcatioh as the United States Steel consoli-
oation accomplished in the iron and steel
world. The roads will be independent In the
eyes OF the law, but practically for the
maintenance Of rates, the larger systems
IN the country will be under a single man
agement.
Jacob H. schifr of Kuhn, Loeb & Co.
called at the office of J. P. Morgan & Co
shortly before noon to-day and was ushered
INTO Mr. Morgan's private Office 1t has
peen q long time since Mr.. Schiff has called
on AR: Morgan. although Mr.. Kuhn of the
same hrm has been seen there several times
II. the Union Pacifc-Northern Pacific COM
nination followed Mr.. Schirf-s visit, winch
lasted only about ten minutes and II was
expected that an official announcement of
some sort would be made
regarding the marketing of the Northern
Iacinc stock. acquired during the recent
corner, bankers say that 1t Is likely to oc-
cur soon None of it is now on the market
ana none is known to have been held by the
banks against loans. The price of the An
shares sold Wednesday. IFS, Is held by many
not to be an established rate for bank ne
EQUATIONS. Colonel Daniel S. Lamont also
eaHeo on Mr.. Morgan at his Office to-day
II IS ohcialy denied that the gentlemen
who were nominated by J. p. MORGAN Tues
gay TO serve as directors of the Northern.
faSihc railroad. are to ill similar offices
win the Union Pacific. 1t is believed how
ever. tnat all the interests concerned in the
community idea. will be represented on the
Union Pacific Board ~