The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-04-20

The Louisville & Nashville will still be
| operated as the L. & NJ, nut Morgan &
| Co will have the same voice in its man
agement that they have in the manage
ment of the Southern, the Central OF
| Georgia the Cincinnati Southern, the A.
@. s., and the Mobile and Ohio. There was
| no law to prohibit the Southern Railway
| Co. from buying a controlling interest
in the A. G.. 8. and the NJ. & o.. Georgia
has a law which prevents the Southern
from holding the stock Of the Central,
| and there are laws In states traversed by
| the L. & N which prevent competins
lines from merging. But to all practical
| extent and purposes, the J.. & N. was
merged into the Southern when Morgan
& Co. announced on Thursday that they
| were in absolute control of the L. G. N.
The Public Not Affected.
But shippers and passengers will not
be affected by the change. Pessimists
and howlers say otherwise, but If they
will only remember that the community
of interests" scheme had been adopted
by the two great systems some time
since. they must admit that the recent
deal cannot materially change the sit
uation. The L. e. N. and the Southern
have had. an understanding about rates
between competitive points and they will
have the same understanding from this
time on, nothing more, nothing less. Thus
It is seen that community of interests
and consolidation are synonymous terms
so far as the public is concerned.
It is clear to shippers that the Seaboard
Air Line is working with the, Southern
on Community of interest" plan. Nor
gan & Co. do not own my Of the stock
of the Seaboard, but there is an under
standing between the Southern and the
Seaboard just the same.
Some people there be who think that
John Shelton Williams, president of the
Seaboard Air Line, will miss a golden op-
portunity II he does not make a combi-
nation with the Frisco system and build
road from Atlanta to Birmingham. He
would then be Independent of the South
ern. But, 1 am inclined to think that the
Seaboard Air Line is as near to Birming-
ham as 1t will ever be. Williams is an
uncommonly resourceful young man. but
he measured swords with Pierpont Nor
gan soon after he got control of the Sea-
board. He came out victorious but he
had a close call. He will doubtless deem
it prudent to. pursue peace policy in the
future; at any rate, so long as the COM
munity of interests" behaves to suit him.
Williams is a game fellow when he Is on
his mettle, but peace pays better than
war.
The question is, where will Pierpont
Morgan stop? Are there not other roads
he can handle 25000 miles in the south,
why not $4,000 or 10000?
Government Ownership.
Nearly the entire railroad mileage of
the United States is now controlled by
seven or eight men. A thoughtful person
need not have a particularly quick i'm
agination to look into the future. and see
the government in possession of all the
railroad and telegraph companies of the
country.
The multi-miliionaires now at the head
OF the vast groups. or those who succeed
them, may get tired of the worry and
strain; or the people may get tired of the
old order and make congress take up the
question of buying and operating the rail-
roads and telegraph lines. Some man of
the Morgan stripe will probably come
along able to get an option on all the
properties and offer them to the govern |
ment. Such a scheme would be exciting
and the 'trake-off" would be a half a |
billion, more or less.
TheT government once in possession, |
there would be no more travelling passen- |
ger agents. no more travelling freight |
agents, no more presidents. Superintend- |
ents of transportation, superint endents |
CT traffic auditors, cashiers and stamp
clerks would be employed But the Presi-
dent of the United States would be the
managing director or chairman and a
member of the cabinet would take the
place OF general manager.
Tho sales of freight stamps would be a
big part Of the business. BY sticking
stamps on boxes, barrels, bales and pigs
Of iron, away they would go.
In the meantime. the railroad compa-
MES and the telegraph companies will
operate their properties on business lines.
taking care of the stockholders and the |
public, too.