The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-07-25
|, {, WILL ENTER
BIRMINGHAM, ALA,
Trackage Agreement With Frisco
Over Kansas City, Fort Scott
and Memphis Line.
HARMONY OF INTEREST PLAN.
Gould Road to Be Used From
Memphis to Baton Rouge
Contract for One Hun
dred Years.
REPUBLIC SPECIAL.

REPUBLIC SPECIAL
New York, July 24-As an incident Of the
Encouragement Of the railroad map in the
Mississippi Valley the Illinois Central will
reach Birmingham. Ala.
This entrance to the big manufacturing
city of the South will be made not by the
construction of a new line from tbs Can
ton. Aberdeen and Nashville Railroad, con-
trolled by the Illinois Central. as has often
been reported, but by a trackage arrange
n.ent with the Frisco. by which the Kansas
City, Fort Scott and Memphis will be used
by the Illinois Central
This arrangement Is part of the general
development of the harmony of-interest'
idea in the Mississippi Valley. which was
advocated by George ]. Gould when It be-
came known definitely that the st. Louis
and San Francisco would build an independ-
ent line down the Mississippi River from
Memphis to New Orleans. Mr.. Gould then
proposed to Mr.. B. T. Yoakum Of the Frisco
that they should enter into trackage ar
rangement by which the Frisco could ESQ
the new Gould line-composed partly Of the
Iron Mountain and partly of the Texas Pa
cific-from Memphis to Baton Rouge.
This suggestion was approved by tho
Frisco management and for several weeks
discussion. A satisfactory conclusion has
been reached and the final contract has
been drafted and to become active requires
only formal execution.
From Baton Rouge to New Orleans, the
Rock Island-Frisco system will use the
tracks of the Yazoo and Mississippi Valley
Railroad, which is owned by the Illinois
Central.
The Frisco was eager 70 enter New Or
leans and the Illinois Central was DESTROYS
of reaching Birmingham in order to share
with the Southern and the Frisco the large
iron tonnage from the Birmingham dis
trict. This plan has been virtually adopt
ed and. with the construction of scarcely a
Il lie of track the Rock Island-Frisco sys-
ten. will reach New Orleans and the ILL
rois Central will attain entrance to the
iron fields in the traffic of which 1t has for
long time wished to share,
The trackage contracts are very broad
In character. virtually admitting each rail-
read into partners and with that portion
of the other covered by the trackags agree
ntrts.
The life of each contract is 100 years.
In making his first proposal to the Frisco
management, Mr.. Gould said that he was
impelled to do 50 by the conviction that
the construction of another railroad to
| drain the Mississippi Valley from Memphis
| to New orleans would be suicidal.
The Frisco management was seeking q
Gulf outlet for its inland system, he said,
and the use of the same tracks would there
| fore guarantee to the Frisco this port
| which II would at the same time preserve
| to existing roads the local traffic.
| In connection with the proposed bond is
| sue OF S14000 900 it was stated definitely
| that this would represent not more than
| So. 100000 of new securities The remainder
| of the issue will be used for refunding pur-
| poses.
| The new securities will be used to pay for
| the construction of the Frisco's new line
| from St I-ouis TO Memphis There is no in.
| tention of carrying out the refund!ng plar
\ AT