Omaha daily bee., 1906-02-06
REPORT ON COMBINATION
Interstate 0ommercs Commission Tells Of
Deals Of Pennsylvania Railroad.
STOCK OF OTHER COMPANIES is HELD
Outside of Reorranized Pennsylvania
system the Company Controls Only
Minority Of stock In Lines
Under investigation.

1 WASHINGTON, Fep |. - President
| Roosevelt today translated to the house
the following report submitted TO him ny
| the Interstate Commerce commission, in
| response TO resolution regarding the
alleged combination of the Pennsylvania
Railroad company and certain other roads
named therein, in violation of the anti
trust law. The report quotes the resolu-
ton and adds.
The only definite facts known to the
commission, believed to have bearing on
the subject matter of this resolution are
| those appearing In the annual report filed
by the companies named in compliance
with section ~ OF the act to regulate
commerce, except as the same faces, or
some OF them, have been disclosed from
time to time in proceedings before the
commission. From the latest of these re-
! ports. covering the year ending June 81.
1903. the following "gures and other data
The Pennsylvania Railroad company has
an authorized capital stock of 10000, 0e0
of which S9095l3.3JO has been issued and is
| to control and is understood To control
! all the lines embraced IN the Pennsylvania
mileage Of 1888. Sc and gross earnings for the
| year named of S2SS. 1I2.52S. The term Pennsyl-
yana system as herein used includes the
! lines of the Pennsylvania Railroad COM
pany, the Pennsylvania company, the
| rhila delphia, Baltimore & Washington
Railroad company and the Northern Cen
| trial Railway company. but does not in
clude the Baltimore & Ohio Railroad com
! pany. the Norfolk 4 Western Railroad
company, or the Chesapeake & Ohio Rail-
I way company
Holdings of stock.
The Pennsylvania company, which con-
\ trolls all the lines of the Pennsylvania
| system west of Pittsburg and Erie has
nm authorized capital stock of xS00U,UQ, of
/ which $i0.OOO 900 has been issued. All this
! issued stock is owned by the Pennsylvania
Railroad company.
The Philadelphia, Baltimore & Washing
! ton Railroad company has an authorized
capital stock of s25,6oo 400, of which S23.-
/ 1880 has been issued and is now out
| standins. OF this issued stock the Penn
sylvania Railroad company owns SO, 400. TO
+ The Northern Central Railroad company
| has an authorized capital stock of saO,O0O.O00
/ which sl7 193, 400 has been issued and is now
| outstanding. of this issued stock the Penn
syIyania Railroad company owns 50. 4ol,Ho
has an authorized capital of S60,0O0O00 of
| preferred stock and Sl3OOO,OC0 of common
! stock of which $50, i64 of preferred and
s1A,2l2060 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, 800 of com.
! mon: the Pennsylvania company owns
100000 of preferred and $ll,0446o0 of COM
pany owns $l.0oO,0Co OF preferred and $751;
| 500 of common; the Philadelphia, Baltimore
4 Washington Railroad company owns
| 100000 of preferred and $7Sl,500 Of common.
1t thus appears that the Pennsylvania Rail-
| road company and three other companies
/ wnlcn II controls own an aggregate OF SIS,
$4,000 of Baltimore & Ohio preferred and
S42,sO0,0oO of Baltimore & Ohio common.
Norfolk q Western Holdings.
| The Norfolk & Western Railroad company
/ has an authorized capital of sz3,00OOO0 Of
preferred stock and $66, 100000 of common
/ stock, all of which has been issued and is
| now outstanding. or this issued stock the
| Pennsylvania Railroad company owns So
10000 of preferred and $40, $50 600 of common
| stock; the Pennsylvania company owns
s5OO0,O00 of preferred and 81, 10000 of COM
] hn Nor NnVafNs DOLL rr-a.
pany owns 100000 of preferred and 81, 900 600
of common. 1t thus appears that the Penn
! other companies which it controls own in
the aggregate sl1.0O0,0o0 of Norfolk & West
eern preferred and s22,SO,ooo of Norfolk 6
The Chesapeake & Ohio Railway COM
pany, with an unlimited authorized capital
$500 900 second preferred and So 100. 400 com
mon stock which is now outstanding OF
this issue of common stock the Pennsyl-
Pennsylvania company NoOO.cO and the the
| Northern Central Railway company 81 500
! COO. 1t thus appears that the Pennsylvania
Railroad company and two other companies
which it controls own in the aggregate s15.-
$4,000 of the common stock of the Chesa-
| peake X OHIO Railway company.
Less Competition.
! The foregoing statement shows the ex-
| tent to which the stock of the several rail-
| road companies named in the discussion
is owned by any other railroad company
| In addition to these facts of stock owner
| ship the annual reports above referred to
| show the names OF the officers and direct
| ors of the several railroad companies
named in the resolution on the 10Th day
of June, 1905.
| From the general knowledge and infor-
! nation of the commission the further
! statement is warranted that since the ac-
/ QUESTION by the Pennsylvania Railroad
company and the companies controlled by
! IL of the stock of the Baltimore & Ohio
| Railroad company, the Norfolk & Western
Railroad company and the Chesapeake x
Ohio Railway company, az above set
| forth, the published rates of the several
railroads. named have been better main
! tanned and in some instances advanced,
and that there appears to he less compcti-
ton I'm rates between these lines than was
! formerly the case, but this Is also true of
competitive rates generally in other parts
of the country.
As to whether the facts herein before
! stated show or tend to show violation of
! the act of congress referred TO in the res
! olutioE the commission expresses no
| opinion, as II is charged with no duty in
| connection with that enactment and has
/ no authority to determine question arts
49, 49,