The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-03-20
RAILROAD news
Reported That the Rock Island
Has Secured Northwestern.
Moore Bros. Heavy Buying Fur
nishes Grounds For Belief.
STOCKS ARE GOING UP.
VIM. b. Leeds Said to Be Slated
as Head of Merged Lines.
Milwaukee & st. Paul May BE
Taken Into Combination.

The combination of the Chicago. Rock
Island & Pacific and the Chicago North
western railways is reported in Chicago,
and a dispatch from South Bend, Ind,
states that the Moore syndicate, headed
by William H. and James II. Moore,
is in negotiation with the divers. OF
South Bend, to take over the latters
holdings in the Northwestern The
AIoores control the Rock Island.
William b. Leeds. president of the
Rock Island, is reported TO be the choice
for president of the consolidated roads
Next to the Vanderbilts, the divers
are the leading holders of Northwestern
railway issues. Some time ago they
We're reported to be willing to part with
their stock if the men who wanted TO
buy were willing to pay the price The
Moores are understood to be willing TO
pay it.
It has been a popular belief that the
Vanderbilts owned a controlling interest
in the road. Recently it has been
stated that they possessed the bonuS
but not the stock. The Moores have
been buying quietly the floating supply
and it is said that fully 80 per cent
of the trades recorded in the last four
weeks have been for their account. AS
ISOLATED with them in the transactions
are Messrs. Prick. Leeds and Reid. Be
sides these sales, many recent pur-
chase of railroad stock have been I'M
recorded and large blocks of Northwest
ern have been bought privately
Wall street has been mysufed Tor
weeks over the activity in Northwestern
and Rock Island issues. Rumors have
been many and varied. but no Sat1Sfac-
tory explanation for the steady advance
in the stocks of both roads was offered
Rock Island jumped from 155 to above
172 in less than a month, and North
western from 212 to 232 and above IN
three weeks.
The merger of the Rock Island and
the Northwestern means the conSohda-
ton of two corporations with a COM
bined capitalization in stock ana DondS
of 1884 S54, 79S, operating together 1926
miles of road.
Close on the heels of the report of the
contemplated merger of these two
roads. it is rumored that the Chicago,
Milwaukee & St. Paul was to enter the
combination. This report is somewhat
discredited, because the St. Paul issues
have not been particularly active re-
Gently. There has been no movement
of consequence in the stock. and if the
Moores had been attempting to acquire
control of this road, the market would
have been affected
This rumor seems to have started be-
cause Robert Mather, the general cOun-
sci of the Rock Island, was closeted
for two hours in conference with Geo.
r. Peck, of the st. Paul Neither Mr..
AIather nor Mr.. Peck would admit they
knew a consOlida ton of the lines was
contemplated. Mr.. Mather is quoted as
saying:
4 will not deny that the Moores
might accomplish something of this
sort. They may have done it already
for all I know. I will not admit any
thing or deny anything about it. I will
say simply that 1 know nothing about
it"
If the st. Paul should later be taken
into the combination of the MoOres,
there would be an addition to the cap
italization of 1927. 421, 200. The St Paul
operates 6.512 miles of road and its
gross earnings last year were S42, &c.,
OILS.
When the MoOreS acquired control of
the Rock Island. in the same way they
are reported to have followed now with
the Northwestern. by buying up the
floating supply of stock. they put in
William b. Leeds as president in place
of Warren G. Purdy. Mr. Leeds has
been intimately associated with the
Aloores IN several of their bigger deals,