The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1904-01-08
Railroads ProSpered *
Ceeding|y in 1908.
5000 MILES new ROAD BUILT
Most of the New Mileage Represents
Extensions and New
Branches.

NEW YORK, Jan. >S.-Completed
statistics show the year just closed
to have been an eventful one in the
history of American railroads. Dur
| ing 1901 and 1902 railroad mergers
had been carried through on an unpre-
cedented scale. At the opening of 1908
| it was believed that this movement
toward railroad consultations would
| be carried on on a still larger scale
! and it was freely predicted that all
of the principal railroad properties in
the United States would be merged
| into not over four or five groups. But
| the crash in the industrials, the enor-
nous shrinkage in stock values, the
stringency which developed in the
money market and more especially the
| adverse decision rendered by the Uni
ted States circuit court of appeals
against the Northern Securities Co.,
combined to prL/ent any such whole
sale consultations.
The result was that 1908, in the mat
ter of railroad consultations, proved
a far less important year than either
1902 or 1901. The most important
railroad mergers of the year were con-
nected with the Rock Island system.
! Early in the year the Rock Island
opened negotiat tons for the purchase
toe g.. nd
| it's affiliated lines. The purchase of
| this system was almost Immediately
followed by buying a halfinterest in
| the Texas lines Of the Southern Pa
| cific. Through these acquisitions the
mileage of the Rock Island was in
creased to more than $4,000 miles
making it one of the largest and most
powerful railroad systems in the world
| Among the other important railroad
changes the purchase of the SeabOard
Air Line by interests, identified with
| the Rock Island and the Southern
Railway and the purchase of the
Hooking Valley and the Reading by
Pennsylvania and New York Central
| interests We're of most note.
| About 500 miles OF new railroad
| were constructed in the United States
in 1903, or about 115 miles more than
| was built in 1902. Most of the new
mileage represented extensions and
| new branches. If the extension of the
! Wabash into Pittsburg is excepted
| there was no parallel railroad building
during the year. The most important
single piece of work accomplished was
| the Southern Pacific 40-mie cutoff
across Great Salt Lake This cutoff
| will reduce the running time between
| Ogden and the Pacific Coast more than,
| two hours. Mention should also be
| made of the commencement of work
on the Pennsylvania tunnel under New
York
| Never in the career of railroads We're
| rates better maintained than in 1903.
| The railroads in every section of the
| country had all the traffic they could
| possibly handle, ana there was no in
centive to the cutting of rates. At one
time it looked as if the entrance of
the Wabash into Pittsburg would lead
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