The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-04-02
Six Great Railroad Interests
+ Work Together for Their
Mutual Benefit.
Community Of Interest Pre-
vents Serious Disagreements
.,~- Among Large Companies.
Magnates Need Millions to Cancel
Debts and Make Proposed
Improvements.
Special to The Journal.

Special to The Journal.
New York, April 2.-It is manifest
that no one railroad interest in the
west stands alone, and that the con-
nection is growing closer. The North
ern Securities decision brought them
closer together than any event ever
did before. 49,.
. How closely interrelated these great
interests are In the direction and con-
troll Of practically all lines in the west
Is set forth as follows:
George Gould-Director Of the Mis-
souri, Pacific, Union Pacific, Southern
Pacific, Alton, Oregon Short Line.
Missouri, Kansas & Texas, Mexican
National. Kansas City Southern.
J. P. Morgan & Co.-Represented
ton, Northern Pacific. Great Northern,
Erie.
e. H. Observation-Disclosures of Alton,
Burlington. Northern Pacific, MeM-
can National. Northern Securities.
i aaitparn Central Central Union Pacific
called Hartman lines.
Standard OIL nterests)-director Of
Union and Southern Pacific. Alton,
Burlington. Northwestern, st. Paul.
Northern Securities.
~ The Rockefellers-(J. D., Jr.. and
William)-directors of ST Paul, Mis-
souri, Pacific, Missouri, Kansas G.
Texas.
The Mills Cd. o. and ogden)-In
Rock Island, Great Northern and
slightly interested in North-W estern.
Community OF Interest"
"Here Is Community Of interest," in
a nutshell.
1.-The controlling interest in Union
Pacific, p: II. Hartman. is director
of the Hill lines, and Of Illinois Gen.
trail. The controlling interest in st.
Paul, Rockefeller. Is represented by
three men on the Hartman roads.
The controlling interest in Atchison,
Morgan, Is represented on Burlington,
The controlling interest in Missouri
Pacific, Gould Is represented on Union
Pacific and ell other Hartman lines.
The practical result Is that tho a.
grain rate war has been raging around
Omaha for the past few months, the
big roads have uniformly kept to the
schedules in all other products and
have stood together against the dis
turber. -,'.i},.e l.o,@
It happens that at this moment
there is not one OF those great rail.
roads or Of those great railroad mag
mates that Is not casting about for
a nice. convenient way to raise some
money. '.~. '' ~' '. 60 ~1' -. '-,r::".> ,-"-
The Great Northern has notes that
come due, and has some more rail-
road to build In the not far distant
future. Mr.. Hill would also like to
get his ships paid for and fairly on
their way. He thinks money invested
on the Pacific will pay rich returns.
Millions Are Needed. 49,
Missouri Pacific has floating debt
of about 100000, and Is building
roads that will call for in all about
s50,O00,OO0. Moreover. there is West
TT t. ~~ts~ b
awful lot Of money.
ST. Paul would be much obliged for
about $4,000, 900 and would start
to build line to the Pacific coast to.
morrow If it was quite sure about the
money.
Union Pacific wants about $4,000,
600 to pay for some equipment bought
with borrowed money and to pay back
some Of the capital used UP lately II
expensive little repairs and double
tracks, etc. It costs a lot Of none,
to double track from Omaha to Ogden
Southern Pacific could get along
whicf, about $5o,ooo,ooo would b,
handy to pay off bonds that fall due IL
19O5-6-7, and the rest to pay off tn,
floating debt and to pay for such luxu
ries as the Ogden-Lucin cutoff. Ais,
there Is the San Pedro route, which
will cost Southern Pacific In all abou
$5O,000,00O. ,.' g..
Atchison will want about $40,
900, 900 only, of which $25, 900, 900 will
pay for the north California extension
and the rest for the Paul's Valley cut
off, etc. Rock Island wants ,abou
$20,000,000 right away and has a littl
bond issue Of $163, 100000 recently au
thorized.
$40O,0OO,OOO Involved.
Added together, the reason why a
the big interests want harmony wi
aggregate about $400,000,0 900.
One western man says that If som
one came along with a billion to If
vest in western railroads they woul
take 1t and use It all up without muc
trouble.
This Is the situation in which tn
plans Of the magnates have landed tn
northwest and the west Every trun
line from the lakes and the rivers |
the Pacific Is closely related to ever
other trunk line. There Is no owner
ship or corporate connection. That
unlawful, there, Is cooperation an
respect and mutual forbearance. TT
days of great invasions. great ra,
wars, great wars Of various sorts al
J over. These magnates hold in Fl
over $4,000 miles Of trunk line. Ar
they all cooperate.