Daily press. [volume] (Newport News, Va.) 1896-current, 1906-02-06
ALL COMPETITION IS WIPED OUT
Interstate Commerce Commission
Knowing tho Facts Admits to Con.
gross That It Has Failed TO Take
Action In Regard to the Alleged Vic.
Iation OF the Law.
(Rv Associated rrrss.l

WASIIINTON. Feb. 5.-Prcsidcnt
Roosevelt today transmitted to the
House the report submitted to him
by the Interstate Commerce Commits.
sion. in response to resolution re-
Sarding the combination of the Penn.
sylvania Railroad Company and GER
tain other roads named therein. in vio-
lation OF the antitrust law.
The report says that the only def
mite facts known to the commission
arc contained In the annual reports
of the railroad companies from which
the following data have been com.
piled:
Pennsylvania Capital 100000, 900.
The Pennsylvania Railroad Com.
pany has an authorized capital stock
OF SfOO,OO0.000. of which $302, 5l3 300
has been issued and is now outstand.
Ing. This company appears to control,
and 1t IS understood controls all the
lines embraced in the PENNSYLVANIA
system. so.called. The term Pennsyl.
vania system as here used includes
the lines Of the Pennsylvania Rail-
road Company, the Pennsylvania Com
pany. the Philadelphia. Baltimore and
Washington Railroad Company. and
TIE NorAkerh CRnttM iRsDfaad Com
peny, but does not. include the Balti
nSSoE@.5aml"ohiu sndrthet Norfolk. aud
SWc:stcsN Railway: or the GhlNabcaks'
and Ohio 'r1ailrdad Company. -
Owns Many Railroads.
The Pennsylvania Company, which
controls all the lines of the PennsyI.
vana system west OF Pittsburg ana
Erie has all authorized capital stock
of sSO.0OO.OO0 of which $40, 900 900 has
been issued. All the issued stock Is
owned by the Pennsylvania. The Phil.
adelpha. baltimore and Washington
Railroad has issued S23,493, $50 capital
stock. or this the Pennsylvania owns
s23.d9O,775
The Northern Central Hallway Com
pany has issued sl7t93,iOO capital
stock. or this the Pennsylvania owns
s9.Ofl.550.
Baltimore and Ohio.
The baltimore and Ohio railroad
Company has issued s59,9SG.4C4 of pre-
icrrcd and $124272.06O OF common
stock.
The Pennsylvania Railroad Com
pany and the three other companies
which 1t controls, own an aggregate or
*2S,iSO.000 OF Baltimore and Ohio pre-
ferred and s42.90O.0OO of Baltimore
and Ohio common.
In on the Norfolk and Western.
The Norfolk and Western Railway
Company has an authorized capital of
S23.000,OOO Of preferred stock and &c.,
o00'O00 OF common stock, all of which
has been issued. OF this the Pennsyl-
vania and two other companies which
II controls owns in the aggregate Sill.
100000 of Norfolk and Western pre-.
ferrcd and s22S3O. 900 of the common.
Not So Strong on C. G. O.
The Chesapeake ana Ohio Railway
Company with an unlimited author
lied capital stock. has issued $4,000
first preferred and $4,000 second and
s62, 790.d00 common stock. which is
now outstanding. The PENNSYLVANIA
and two other companies which it con-
trolls owns in the aggregate sl5.G30. 900
OF the common stock of the Chesa-
reake and Ohio.
The report gives list of the officers
and directors of the roads concerned
and concludes:
Competition Does Not Appear.
From the general knowledge auI
information of the commission the
statement is warranted that since the
acquisition by the Pennsylvania Rail.
road Company and the companies con.