The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-02-03
City, Peoria s. Chicago X. Il.
Gains Control Jointly With the
Burlington.
MAY BUILD TO COAST.
Story Afioat That Rock Island
Will Build New Line.
Rock Island Reduces Passenger
Tariffs to Ell PasO.

Chicago, Feb. at is understood that
the Kansas City, Peoria & Chicago,
which is the name of the reOrganized
properties recently purchased by ]. W.
Gates, has been purchased by the Rock
Island and the Burlington jointly and
that the transfer will soon be made In
Chicago. The fact that J. P. Morgan
took part in the negotiations and his
recent afflliation with the Rock Island
interests strengthens the report that the
Rock Island will be in close harmony
with the Burlington and the Northern
properties
Up to this time all the reports have
had it that the 90 alone would take
over the property It is understood the
in Chicago Saturday though the sale
was practically completed several
weeks ago. ]. P Morgan took an i'm
portant part in the negotiations. The
fact that the Burlington and the Rock
Island will have a joint interest in the
property confirms the view that rela-
lions between the Hill system Of roads
in the northwest and the Rock Island
have become very close as a result OF
the efforts of the Morgan house.
Rock Island overshadOwed everything
else in the New York stock market this
week. The announcement of the cleo
ton of three new directors of the COM
pany, one of which is a representative
of the First National bank, of New
York, and presumably also of the Nor
gan interests, together with the con-
ttnued talk of a coming big financial
deal of some kind. gave the market for
that stock a degree of strength which IL
has not had for some time. The idea
prevailed that the election of the new
directors was but a preliminary step to
the reimbursement of the finances of the
company for the purpose of carrying
out some big deal now IN contemplation
and that official announcement in re-
gard to this matter would not be much
longer delayed The story of an in
crease in the capital stock of the Rock
Island is by no means new, but the i'm
preston in well informed quarters has
been that nothing in this direction
would be done until the outlook for the
crops this year could be gagged with a
greater degree of certainty
Another story that was quietly whis-
pered about the street was that there
was a possibility Oh another deal later
on between the Rock Island and the
Southern Pacific with a view to giving
the former an outlet to the coast 1t is
claimed by people close to Rock Island
interests that in the event of a failure
on the part of the management of that
company to make some arrangement of
that kind with the Southern Pacific or
one of the other large western roads
the road will itself build a line to the
Pacific and enter into competition with
the existing lines. The Rock Island,
however, already has a traffic arrange
ment with the Southern Pacific proVid-
Paso, and the only foundation for the
story given would be furnished by the
idea that it might make the threat to
build to the coast for the purpose of
Forcing the granting of better terms
than those now received.
W. H Moore is quoted as declaring
that he would not succeed R. r. Cable
as chairman of the board and that the
new interest in Rock Island is in har-
mony with the Cable faction.
The opening of the Rock Island rail.
road TO FL PaSo will reduce passenger
tarlns between Missouri river points |
and FL Paso. A fiat rate of 8 cents
per mile will undoubtedly be asked for |
tickets in this Jurisdiction. The short |
mileage Will account for a decrease in |
the passenger tariffs now in force of al |
least 400 between Topeka and Ell Paso |
In the freight department. contrary /
TO the belief of some the rates for rho |
transportation of freight between Mis- |
souri, river points and FL Paso will he |
the same as those in force at present on |
already existing lines. There will be no
freight rate slashing. The reason for
this is probably found in the fact that |
railroad freight rates to FL Paso have
been reduced, to a minimum. to come /,
into competition with steamship lines
Freight trains are now running over
the entire line of the Rock Island to /
ii Paso- Several stock trains. east |
ward-bound, passed through Santa /
Rosa soon after the last spike was
driven connecting the entire line with /
FL Paso.