The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1903-12-01
CURRENT EVENTS: THE DRIFT OF THINGs
AS WE SEE 1T.

4AoAAO64sH9 "0SA PN00N "1OAOO any events
of commanding proportions. Congress did little,
and In the Panama situation there were no re-
markabIe developments. A Colombian represen-
tative arrived in Washington Saturday to present
the protest of his government, but it is not likely
to have any effect on the policy of the Admins
tration. The Panama Junta-that is to say, the
Revolutionary Government of the new republic
has notified Secretary Hay that the canal treaty
mentioned in this department last week will be
ratified as soon as the official copy reaches them.
And that treaty, it will be remembered, pledges
the United States to maintain Panama's indie
pendence. In Richmond Thanksgiving Day, Tar
Heels and Virginians met as combatants on the
football field and on the platform, and in both in
stances the North Carolinians came off victorious.
Wake Forest won the prize cup in it's debate with
Richmond College, and the University of North
Carolina defeated the University of Vrginia's
football team by a score of Is to O..
The seabOard's Absorption by the Railroad Monopoly.
The consolidation of the railroad lines of the
country goes steadily on. @. P. Huntington once
declared that the time would come when all the
lines in the country would be controlled by one
great monopoly. And at this time five great syn
dicates-the Vanderbilt, Pennsylvania, Gould
Rockefeller, Morgan-HiH, and Harriman-Kuhn-
Loeb-practically dominate the transportation in
terests of America. Commenting on this matter
in the Worlds Work nearly two years ago, Mr..
M. g. Cunnif said:
"Here, then, is a vast continent belted and
banded and criss-crossed with 100000 miles of
railroads. Many of the roads are great ~independ-
ent lines, and some are systems controlled by
groups of men outside the five large syndicates.
But practically half the stupendous network, af-
fecting in one way or another every inhabitant in
the country, is in possession of five little bodies
of men with headquarters in New York"
And it looks now as if the Seaboard Air Line
Railway has been practically absorbed by the
great octopus. The law forbids direct consolida-
ton of competing lines, but it has been officially
announced that the Seaboard and Southern have
reached an agreement which ends competition be-
tween them. When the smoke of the conflict
clears away it will doubtless be found that the
New York American has not over-stated the sit
uation in the editorial which follows:
CATER a war of many years J. Pierpont Nor
gan has become the u~ndisputed king of Southern
railroad systems. With the Seaboard Air Line,
which is believed to have passed indirectly under
his control last night, in his possession, the At
lantic Coast Line, the Louisville and Nashville,
and the Southern Railroad, he has full sway in the
South. Announcement was made last night after
three long sessions that consumed the entire day
that the Seaboard had arranged to accept a loan
of several millions of dollars from Thomas +.
Ryan, Blair & Co., and 7. Jefferson Coolidge, Jr'
In consideration of the loan the Seaboard con-
sented to turn out some of the directors who have
been fighting against the acquisition of the road
by Morgan and replace them by other men repre-
senting the new interests. The Ryan coterie no"
has control in the board. Seven years ago Ryan
attempted to secure possession of the Seaboard
and formed q h;n nonl &c Nom YnrLnrs The deal