The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-02-05
In Regard to the Pennsylvania
Railroad Merger.
OTHER ROADS OWNED
Through Subsidiary Lines Con-
trOlIed by Main System.
Control Is Obtained by Buying
Up the Securities.

Roosevelt today transmitted to the
house the following report submitted
to him by the interstate commerce
commission, in response to a resolu-
ton regarding the alleged combination
of the Pennsylvania railway line and
certain other roads named therein, in
violation of the antitrust law:
Interstate Commerce Commission,
Washington, February 2, 1906.
THE President:
THE interstate commerce commits
sion has the honor to submit the fol-
lowing in response to your request of
January %, inclosing a resolution
adopted that day by the house of rep
resentatives which reads as follows
Resolved, That the president be,
and he is hereby requested, if not in
compatible with the public interests,
to report to the house OF representa-
tives for its Information. all the facts
within the knowledge of the interstate
comm cree com mission which show or
tend to show that there exists al this
time, or heretofore, within the last 2
months has existed, a ombinatiOn or
arrangement between the Pennsyl-
Vania Railway company the PennsVl-
vania company, the Norfolk & West
ern Railway company, the Baltimore
& Ohio Railway company, the Phila-
delphia, Baltimore & Washington
Railroad company, the Northern Cen
tral Railway company, and she Chesa-
peake & Ohio Railway company, or
any two or more of said railway COM
panies in violation of the act passed
July 2, 1890, and entitled, An act to
protect trade and commerce against
unlawful restraints and monopOlies
or acts amendatory thereof.
''The only definite facts known to
the commission, believed to have bear
ing on the subject matter of this reso-
luton, are those appearing in the an
nual reports filed by the companies
named in compliance with section 90
of the act to regulate commerce, ex-
cept as the same facts, or some of
them, have been disclosed from time
to time in proceedings before the com
mission. From the latest of these re-
ports, covering the year ending June
80, 1908, following figures and other
data have been compiled:
Report for 1905.
''The Pennsylvania Railway COM
pany has an auth orized capital stock of
$4OO.O0O,OOO, of which 1902, 2,513,3OO
has been issued and is now outstand-
ing. This company appears to control
and is understood to control all the
! lines embraced in the Pennsylvania
system, socalled, having an aggregate
mileage of 10, ,999.86 and gross earnings
4 for the year named of $238,172, 52S.
/ The term Pennsylvania system as here
used includes the lines of the Pennsyl-
/ vania Railroad company, the Pennsyl-
vania company, the Philadelphia, Bal
+ timOre & Washington Railroad COM
pany and the Northern Central Rail-
road company, but does not include the
/ Baltimore & Ohio Railroad company,
/ the Norfolk & Western Railroad com
pany or the Chesapeake & Ohio Rail-
/ road company.
'eThe Pennsylvania company, which
! controls all the lines of the PennsyI-
vania system west Of Pittsburg and
/ Erie has an authorized capital stock of
/ $4,000 900, of which S40,00O,000 has
/ been issued. All this issued stock is
! Il ss, T1,94 Il
4 company.
saThe Philadelphia, Baltimore &
! Washington Railroad company has an
authorized capital stock of $25.65O,-
45O, of which $23,550 has been issued
and is now outstanding OF this is
/ sued stock the Pennsylvania company
owns $23,490,775.
"The Northern Central Railway
company has an authorized capital
stock of s2OOOO,OOO, of which ST.
/ 193,4O0 has been issued and is now
/ outstanding. OF this issued stock the
Pennsylvania Railroad company owns
4 $s,401,95O
The B. & 0.
The Baltimore & Ohio Railway COM
pany has an authorized capital of $780,,
/ 600, 900 of preferred stock and $125, 900, 900
4 of common stock, Of which $59, ,986, asa of
/ preferred and $124 272060 of common
have been issued and are now outstand-
/ ing OF this issued stock the Pennsyl-
vania company owns $2l,4S0, GOO of pre-
/ ferred and $30, ,293 300 of common; the
/ Pennsylvania company owns $1,000 600
of preferred stock and $11.0 800 of COM
! mon: the Northern Central Railroad
| company owns $1000,00o of preferred and
! $7S1, 800 of common; the Philadelphia,
/ Baltimore & Washington Railroad COM
pany owns $1,000, 600 of preferred and
| S7S1, 500 of common. It thus appears that
| the Pennsylvania company and three
| other companies which it controls own
| an aggregate of $28, ,480, 900 of Baltimore
| & Ohio preferred and S4Z,90O, 600 of Bal
timore & Ohio common.
The Norfolk & western Railroad COM
| pany has an authorized capital of S23,
600 600 of preferred stock and S66 600 600
/ of common stock, all of which has been
issued and is now outstanding. OF this
issued stock the Pennsylvania Railroad
4 company owns So 500 900 of nrefeFre7 ~-0i
$40 800, 600 of common; the Pennsylvania
| company owns Sc, 1000 of preferred and
81, SOC, 900 of common; the Northern
Central Railway company owns $500 900
of preferred and 81 600 900 of common.
It thus appears that the Pennsylvania
Railroad company and the two other
| companies which it controls owns in
the aggregate 1000 600 Of Norfolk 6.
Western preferred and S22, $4,000 of
Norfolk & Western common.
The Chesapeake & Ohio Railroad
company with an unlimited authorized
capital stock has issued $500 first
preferred $500 second preferred and
S62.790,4 400 common stock which is
now outstanding. OF this issued COM
mon stock the Pennsylvania railway
owns S10,130,000; the Pennsylvania
company 100000 and the Northern
Central Railway company S1,500,000.
1t thus appears that the Pennsylvania
Railway company and two other com
Danies which it control own in the az
gregate S15,630, 600 OF the common
stock o. the Chesapeake & Ohio Rail
way company
(