Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-08-04
GREAT SOUTHERN RAILWAY,
SPREADING, TAKES EVERY
THING WITHIN ITS REACH
AND ADDS MANY MILES.

NEW YORK. Aug. 2-The combination
OF all the principal southern railroad
lines into the greatest syndicate this coun-
try has yet known viii soon be boldly
announced by the Morgan crowd. and The
Journals forecast of the gigantic merger,
printed at the time II was proposed. VIII
thereby be confirmed in every particular.
The lines already embraced in the deal
are the Southern railway, the Louisville
and Nashville system. the Atlantic Coast
Line the St Louis and San Francisco
system. tho Chicago and Eastern Illinois
and the Illinois Central. with others still
under consideration.
When John W. Gates began buying up
stock OF the Louisville and Nashville sys-
tenn I wired The Journal that his pur-
chases meant. the gigantic merger was
then under way. and that ne was acting
for the Morgan people, who intended 10
formulate the Southern Securities compa-
ny. on the order Of the Northern Securi-
ties company. The object was to secure
control Of all the important railway lines
OF the southern states. Wall street knew
It through rumors which came so persist
entity that no one doubted their accuracy.
II was known that the Morgan crowd
controlled nearly all the principal lines Of
the south. and that Gates and other
friendly interests were merely working to
secure for the syndicate the remaining
roads ia order 20 make the merger COM
pIetely envelOp the southern states.
Today I Aave IL from the best Wall
street railroad authority that practically
nothing now remains Of their task but the
formal amalgamation and the announce
ment to the public.
This confirmation Of the foreshadowing
OF the deal comes sooner than IL was ex-
pected, since Wall street believed the
consolidation would be kept quiet until
for the announcement Ny authority now
says the bold plan OF announcing the con-
solidati0n has been determined. and that
the merger win soon become a reality.
whether public sentiment favors IL or not.
Here Is what he says:
"The six lines mentioned VIII be united
together openly in a short time unless
southern governors and legislatures shall
do something 10 prevent II. and II they
should offer 20 get in the way. IL is an
ticipated that they cannot permanently
prevent It.
Everybody knows" he contineud. that
all these lines are now controlled by the
Morgan people except the Frisco sys-
TEN. the Chicago and Eastern Illinois and
the Illinois Central. OF these the Frisco
and Chicago and Eastern Illinois have fall
len into friendly hands within the past
few days and now overtures are being
made 70 the Illinois Central and an agree
ment with IL IS nearing completion.
As soon as the details are arranged
plans for the legal welding together Of
all these roads win be announced.
This viii pus all the south Atlantic and
gulf ports and practically every portion
OF the territory south OF the Ohio river
and east OF the Rocky Mountains in the
power OF one man.
This merger and the lines that will be
controlled BY II directly and indirectly
viii embrace, 5000 miles OF railroad or
more.
This win nearly double the mileage OF
tae Pennsylvania system or any other
consolidation the world has yet seen.
The plan by which the lines win be
brought together win probably be modelled
after the recently announced Rock Island
scheme. provided this bold venture proves
attractive 70 the, Wall street contingent
OF investors.
at all events. the subsidiary compa-
MES viii maintain their identity. mainly
that the established determinations
against certain cities and localities in IA
vor OF others can be continued on the
ground that competition requires II. in or
der that there viii be no unusual dis
turbances In rates"
The campaign was begun" said my in
formant some time ago when the public
pulse was felt by suggestions circulated
about over the country that consolida-
ton was rumored between the Atlantic
Coast Line and the Louisville and Nash
willie railroad. No such mosquisO consol-
idatiOn wiz occur unless Il becomes evil
dent that nothing greater viii be permit
ted BY the states"