The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-02-17
A RAILROAD SYNDICATE
With Capital Of s2O,O0O,OOO Formed by
Hartman and Others.
GEORGE GOULD IS ALSO INTERESTED
i lans for Community of Ownership
for Southwestern Roads IL
Contemplated.

New York. February 15--George Gould,
L. II. Hartman, Jacob A. Schan. VIII
liam X Vanderbilt and William Rookie
teller have formed a s20O00,0 900 syndicate
for the purpose OF carrying out the plans
for a close community o. ownership OF
all the roads OF The Southwest.
The company is 20 be known as the
Railroad Securities company. The roads
to be controlled are the Missouri Pa
cidc. Chicago and Alton. Wabash, Wheel
ing and Lake Erie, Missouri. Kansas ana
Texas, s.. Louis aud Southwestern, Chi
cagg and Eastern bunols Denver and
Rio Grande, Illinois Central, Kansas Clty
southern, Union Pacific and several other
minor railroad properties, including the
Chicago Terminal The southern Pacific
may eventually be included.
All OF these roads are 10 sbe controlled
through the new company. witch VIII
purchase a sufficient interest IN the secu-
rifles OF each to carry supremacy. The
plan OF the company Is to organize
board OF directors, which shall actually
be board of managers OF the combined
systems.
There IS no idea whatever OF changing
the corporate name or character OF any
OF the railroads acquired, They viii be
operated under the same names and will
retain theii corporate lndividuallty The
new syndicate viii not operate the roads,
but Will simply dictate the policies Of the
various boards OF directors and will re-
tain firm hand on the executives OF
the several roads Rate cutting will be
absolutely impossible: under the new sys-
TEN.
The board OF directors OF The new cum-
pany will be George J. Gould, controlling
Missouri Paclnc St Louis and South
western, Wabash, Wheeling and Lake Erie
and Chicago and Eastern Illinois.
Jacob a. Schaf, controlling Union Pa
cilc.
e. II. Hartman controlling Illinois
Central, Chicago Terminal Transfer and
Chicago and Alton
William X, Vanderbilt. prominent in
Illinois Central and Union Pacific.
William Rockefeller, controlling Mis-
souri,, Kansas and Texas and Kansas City
Southern
a meeting OF several presidents OF the
Southwestern roads was held today In
the Missouri Pacific offices. when Mr.
Gould outlined the plans OF he new syn
dicate aud Impressed upon all tho neces-
SHY OF thorough 90 operation among all
the railroads and the absolute necessity
OF preventing rate cutting.
! now trauspires that the recent pur
chase Of the Huntington holdings in the
Southern Pacific was In the interest OF
this syndicate.
The new syndicate is virtually "com.
munlty OF ownership" such as has existed
IN he Eastern roads FOR several years,
The Incorporating OF this association Of
owners u.s. however a novelty.
\ member of the big syndicate gave
OUT the following oiay. with the under
standing that his name was not 20 be
used
~. is true that the Railroad Securities
company was formed some time ago and
was incorporated in New Jersey. Its OBJ
jccL is to acquire railroad securities and
to hold them for certain purposes. The
cumpany's offices alr ia Jersey City. The
capital stock is 100000 ,U00.'