The Washington times., 1906-02-05
Allies Are Also Minority
Holders in Norfolk
& Western.
DIRECTORS MUCH SAME
Commerce Commission Tells
Congress Rate Compe-
tition Is Less.

The response Of the Interstate csuss
merce Commission to the resolution
adopted by the House calling for IN
| formation as 10 the alleged merger of
the Pennsylvania and other railroads
was sent to the Housr .Oday BY Presi-
! dent Roosevelt.
| The document sets forth data con-
| cerning the stock ownership Of the
roads in question. based IN reports made
/ 10 the commission up tc June 80 lS05-
| II is stated that the Pennsylvania Rail-
read Company and three other COM
panies which it controls OWE an ag-
gregate OF SIS. $4,000 OF Baltimore and
/ Ohio preferred stock. out Of total OF
SO $50 go outstanding. and S42 10000 OF
| Baltimore and Ohio common. out OF
| total of sl24 272. .O50 outstanding.
Also that the Pennsylvania Railroad
/ Company and Two other companies
which IL controls own 81, 10000 OF Nor
folk and Western preferred out Of SzS-
o00. 600 and S22 sc O01 common out Of
| S6s, COO go; and thar the Pennsylvania
Railroad Company ana TWO other com
panies which IL controls own SIS 90
OF the Chesapeake ana Ohio common
stock out Of So, 80. 100 outstanding.
Competition Is Less.
II is further stated that the published
rates OF the several roads have been
better maintained and in some instances
advanced" since the acquisition By the
PeunsvIvania Railroad Company. ana
that there appears 10 be less competi-
ton in rates between these lines than
was formerly the case but this is also
1 true OF competitive rates throughout
/ the country
The commission. however. declines to
/ express an opinion as 10 whether there
/ have been any violations Of the inter-
state commerce law.
The report OF the commission follows:
"The only definite facts known 10 the
commission. believed 10 have bearing
upOn the subject matter OF this resolu-
! tion. are those appearing IN the annual
( reports filed BY che companies named IN
compliance with section - OF the act
I 10 regulate commerce. except as tbs
sane facts. or some Of them, have been
disclosed from time 10 tine IN proceed
| ings before the commission
From the latest OF these reports
covering the year ending June 90 1879.
! the following figures ana other datd
| have been compiled:
What Pennsy> Controls,
..T,be PENNSYLVANIA Railroad Company
/ has an authorized capital stock OF $780,.
| 900 00. Of which S3l2.515.300 has been is
sued. and is now outstanding. This
company appears 10 control. and is un-
| derstood 10 control. all The lines en-
braced in the Pennsylvania system 50
called hayinE an aggregate mileage or
Ie. $50 Sc miles. and gross earnings for
the year named OF SZ3S,lI2.52S- The term
PENNSYLVANIA system, as here used. in
cludes the lines OF the PENNSYLVANIA
Railroad Company. the Pennsy lNanla
. 49, 1.4N~ gga af sraefa
and NashinEtou Railroad Company.
ana the Northern Central Railway CUin-
pany bat does not include the balu-
more and Ohio Railroad company. ihe
Norfolk and Western Railway Com
pany. or the Chesapeake and Ohio Rail-
way Company.
controls all the lines Of the Pennsyl--
Valia system west OF FltJsDuTg and
Erie. has an authorized capital stock
of $50 Co go OF ~ hlCh S43.01u. .JeU has been
/ issued All this issued stock Is owned
/ by the Pennsylvania Railroad Company.
The Philadelphia, Baltimore and
/ Washington Railroad Company has an
authorized capital stock Of S25,550. $50, OF
which 50. s93, 5J9 has been issued, and IS
/ now outstanding. or this issued stock
the Pennsylvania Railroad Company
''The Norttern Central Railroad Com
pany has an authOTlZeG capital stock Of
+ $50, go tOG, of which 81 l93, 400 has been
issued and is now outstanding. OF thi5
issued stock the Pennsylvania Railroad
Stock OF B. & o.
| The Baltimore and Ohio Railroad
/ Company has an authorized capital Of
| SEQ, 600 600 of preferred stock, and $125.-
/ O01,030 of common stock. of which s59.-
| CSC. .464 of preferred and S12f. .272.060 Of
common have been issued and are now
outstanding. OF this issued stock. the
| Pennsylvania Railroad Company owns
| 81. $4,000 of preferred, and $50, 500 OF
common. the Pennsylvania company
owns s.. .000o coo of preferred, ard Sll,0H.-
/ coo OF commOn; The Northern Central
Railway Company owns I,V00O OF pre-
ferTed. and SlSi 800 OF common; the
| Philadelphia, Baltimore and Washing
| ton Railroad Company owns Sl,00oO00 OF
| preferred, and So, 30 OF common IL
] thus appears that the Pennsylvania
/ Railroad Company and three other
| companies. which Ii controls, own an
aggregate of S2S, ,4S0. coo of Baltimore and
| Chic preferred. and $4,000 0J0 OF Baiti-
more and Ohio common.
The Norfolk and Western Railway
Company has an authorized capital of
| S23 O00. 900 of preferred stock and S66
0l0 coo of common stock, all of which
has been issued and IS now 0utstand-
ing OF this issued stock. the Pennsyl-
vania railroad owns $5.500,000 OF preferred
and so. $780, 600 of common; the Pennsyl-
Vania COMPANY owns 10000 OF pre-
ferred and sl,5000o0 Of common the
Northezn Central Railway Company
owns $500 900 OF preferred and $i.010,G90
of common II thus appears that the
Pennsylvania Railroad Company and
two other companies which IL controls
own in the aggregate SlI,0J0.O00 OF Nor
folk and Western preferred and 81, $780,
coo of Norfolk and Western ccszmon.
Chesapeake and Ohio.
'sThe Chesapeake and Ohio Railway
Company. with an unlimited authorized
capital stock. has issued $. 200 first pre-
ferred, SS0G second preferred. and sG2.-
49,. 80 common stock, which is now OUT