New-York tribune., 1903-04-28
NORTHERN SECURITIES MERGER.
Reasons Why It viii Prove Beneficial if
Allowed To Be Made.
TO the Editor Of The Tribune.

To the Editor Of The Tribune.
Sir: 1 have not burdened you with my views
since May 15. 1S9S l. e., Remember the Maine" ;"
hence Will you kindly indulge me with space to ex-
press opinion concerning the merging of the
Northern and Great Northern Pacific railroads un-
der the name and style OF Northern Securities
Company? IF the Supreme Court OF the United
States should ultimately permit the merger TO be
made then in that event believe It would largely
nure to the benefit of the whole country. especially
so If 1t connects with the shipping facilities by
water that l understand President Hill or the
Great Northern proposes that it shall Such an
arrangement would afford almost boundless oppor-
tunities for interchange of traffic between the
two great enternrises, which would probably con-
tinue in perpetuity
The best criterion for guiding in judging and
estimating the advantages in every respect that
would occur by having this merger perfected and
under the absolute control and management Of
one great and responsible company is the New
York Central and Hudson River Railroad Com
pany's system of roads operated When
the roads that comprise this extensive system
were operated separately there a continual
friction, pickering and dickerng between them, and
also with the shippers, and what is true OF the
New-York Central system is pertinent and equally
true of the far-reaching Pennsylvania company's
system. and also of the New-York and New-Haven
Railroad Company's magnificent system. The
knowledge concerning the construction and opera
ton OF railroads in this country Is much superior
which make up the great systems here referred 20
we're Dullt ana put IN operation ana II Is an III
controVertible fact that the whole people nave
vastly benefited by 1t. for it disposes OF all the
natural cantankerOus scenes that used to occur
between the companies their passengers and ship
peTS
l know whereof I speak when l say that the
employees at this time far better treated by
these great companies than they were when the
roads operated sngly. There is valid reason
that possibly be presented why investors in
railroad stocks and bonds should not receive as
much profit the dollar invested the average
successful merchants and manufacturers receive
on the dollar in their investments. Surely the
hazard Of the railroad investor is quite as great
as that of the merchant or manufactured There
are some VINO of opinion that railroads are
not entitled to any sympathy, or hardly justice on
account Of q few men having amassed enormous
fortunes by dealing In the stock and bonds of rail-
roads. Such a view, Mr. Editor, is unjust
/ have doubt that a large majority OF these
securities that have speculated with
and have been largely benefited now in the
hands Of the people, and any legislation any
decision that interferes unfairly with the pay
ments of reasonable dividends and interest on
those securities is decided wrong toward those
who hold them. If man created by an intelt-
true that railroads in this country at least have
been his greatest benefactor therefore Mr. Editor,
you cannot err in advocating the early consumma,
ton Of the merging OF the Great Northern and
Northern Pacific Railroad in the name Of the
Northern Securities Company
New-York, April q, 1903 D. y. STANTON