New-York tribune., 1905-02-01
N. Y. c. ABSORBS BIG FOUR.
UNIFICATION EXTENDED.
Nescman Head of Too More Roads
Big Transcontinental Scheme.

NJ r ingalls, resigned as president Of the big
-Four railroad yesterday. Henry B. Ledyarc re-
signed as president Of the Michigan central Kali
road These designations We're handed in and ac-
ceuted at meetings held IN the Grand Central sta
ton Mr. ingalls, and Mr.. Ledyard were in turn
elected chairmen OF the respective boards or drec-
tors W. II. Newman president Of the New-fork
Central. was elected president OF ooth the DIG
Four and Michigan Central 10 MI the vacancies
50 caused Cnauncey NJ. Depew resigned as chair
man of the board OF directors OF the Michigan Cen
traI 10 make room for Mr.. Ledyard.
These changes will have little no bearing upon
the operations of these roads. II is only another
step in the unifcation plan which was mapped out
several years ago by the Vanderbilt interests and
which IS slowly but surely being made effective
For the last two years neither Mr.. lngalis nor MT
Iedyard has taken any interest in the operation OF
the roads. except In merely advisory capacity
The roads have bes;i operated from this city by w
H Newman Bureaus have been consolidated and
traffic departments welded together until the New
York Central. the big Four" the Lake Shore and
the Michigan Central. with their subsidiary lines.
are practically system. under one head and
directed from one point.
This plan of unifcation was described and ex-
cIusivey announced in Tho Tribune several years
ago. The first step, announced at the time, and
taken. the absorption Of the Lake Shore
and the Michigan Central The "Big Four is the
next STEP The plan includes the ultimate absorp
non Of the Chesapeak and Ohio and the Chicago
and Northwestern These great changes cannot be
made in a day. but a coherent plan is kept con-
stantly in view. and ultimately the Vanderbilt. In
terests intend. through the NewYork Central. Lake
Shore, Chicago and Northwestern and Far West
ern connection. TO operate tranScontinentai road
when this plan achieved main offices will be
in New-York. and all department chiefs will report
here 10 one president
The plan OF consolidation was illuminated by the
action yesterday II is the intention to have the
president OF the New-York Central the president
and operating officer of all the lines. The men
who retire viii be retained in advisory capacity
as chairmen CT the board of directors of the
various companies merged. This will give the
hnencial size of the road a strong advisory or
saniZatio1, while the purely traffic end will be
handled by the operating officers.
The New-York Central eventually, It is planned.
will be the parent or holding company of all these
lines With fits tremendous new terminal in New
York City will be able TO provide offices for the
great traffic bureaus The financial side and the
stock and bond departments OF the road will be
entirely separated from the traffic end, and the
president will be purely operating oficer.
The resignation Of Chauncey NJ. Depew chair
of the board of directors of the Michigan Gen.
tral, il said indicated his retirement from all
the lines. Mr.. Depew has just been elected to the
Senate for term of six years. starting March 4.
and II was thought that he desired to lay down
active work This is denied. 1t was asserted yes
terday that it largely due TO Senator Depew
that this plan of consolidation undertaken and
that il is the desire of the Vanderbilt
he remain in his present place. He will remain as
chairman of the board of directors of the NewYork
central, and that means practically as chairman
of the entire system. although local chairmen will
hold Office in various parts of the country. The
heavy work. however will fall upon Senator Depew.
". II. Newman, who is president of about q
dozen railway systems welded into one, is a man
who has made his way step by step. to the presi.
dency of what is now practically the greatest rail-
way system in the country, equal 10. if not sur
passing. in mileage and importance the Pennsyi-
Vania lines.
At the meeting of the Big Four" directors after
President Ingals's resignation president and
mis- election chairman Of the board of directors
four vice-presidents chosen. TO have charge
OF the departments named with them. as follows:
z. Y. W Rossiter. finance: William C. Brown,
transportation: John Christensen, accounting, and
e. j. GIammer. traffic
At the meeting Of the directors of the Michigan
Central three Ylce-preSldentS We're chosen to at
tend TO the departments named with them, as fol-
lows: William @. Brown, transporta ton: John
Christensen, accounting. and G.. j. Grammer, traffic
The Rockefeller interests who influential In
fhe Union Pacific and associated with the Wander
bits in the Chicago and Northwestern, are now
heavy stockholders also in the New York Central
The action taken yesterday by the directors of the
Michigan Central and the Big Four is regarded by
some observers as part OF a plan for the virtual
unifcation of the three great with the
New-York Central the Eastern Quite. for the
Union Pacific. the Chicago and Northwestern, with
its subsidiary lines The feeder for the Union Pa
Pacific, with its Middle West. Missouri VALLEY ana
mountain territory and ITS divisional roads all
the valuable ports on the Pacific. rounding out a
tanscontinental system.
In the stock market yesterday New-York Central
closed at lis, net advance of 2h points. Big
stock advanced Ia points and the preferred T. while
Omaha made net gam Of %. points and g single
$50 an advance Of ~ points the last previous