New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-20

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,ras I'M the SOS and '9Os. With rates
Times that every railroad could de
termluo for itself il was possible Tor
the stronger roads 70 VISIT Such d co''
uetitiou upon tho weaker as 10 leave
the latter only the alternative oi sen
ING out 20 the victor OF gong INTO
baukruptcy. Cutthroat pohclc5 were
the rule. not the exception. 80 IL
hsppcucd that railroads OF one kihd
and another sprang up almost IN Il
uioht Franchises were easy 70 GET
because legislatures argued that the
moro competition there was the lower
would be freight and passenger rates
and the more the public investors
we're not admitted to be part Of the
public in those days would be bene-
uted.
Forced Purchases.
The manners Of many Of these roads
had no other purpose than 10 force the
established companies 10 buy them
out. SO they built only well enough
to last FOR few years and often m
territory served beyond its present or
future needs. As times passed many
of The roads built for blackmail ana
assumed pcrforce by the older ROADS
we're developed into earning properties
hut many more were not ana never
could be-. The handicap they carried
with them 20 their new owners can D."
traced to-day in tho heavy h%ed
charges and unwieldy capitalization
of coodly number Of companies. ! or
some tho weight proved even greater
and resulted ln rccclNcrship5 ana Ic-
organizations.
10 resist these Matchmaking schemes
and 10 stop rate wars, for reasons OF
economical operation or Tor inc
fur,hcraucc Of the ambition OF men
like Hin and Hartman, some OF the
larycr systems themselves got tOgelhcr
and there wore built mp combination
such as that Of the Great Northern
Northern Pacific. Burlington ana Col
orado & southern; the Hartman SyS-
TEN. with Union Pacific, Souihern "a
citic. Central Pacific, Illinois Central
Chicago 4 Alton. Central OF Georgia
and the string Of smaller lines con
trollcG through the Oregon short Line
the Gould system, with Missouri a.
citic. Denver & Rio Grande, western
pacific Texas & Pacific, Wabash,
Wabash Pittsburgh Terminal wheel
INC & Lake Erie and Western Mary
biuatiops. and like those already named
thcv were not invariably OF roads d.
recty connected or interrelated. but
owed their association and control 20
the fact that their securities were
largely IN the hands Of an individual oil
power and his friends or Of family.
Beginning of the Break-Up.
Because Of the necessity that
brought abou. some OF the coalitions.
the laws against monopoly were ire
,u,u.lv ufriuged or scemuSl! Cur
cuuycutcd and the Indifferent admin
tratiou Of the laws in some cases or
IN, difficulty in undoiuG what was al
legged to bc an Illegal combination Kept
the systems intact for considerable
time. The Northern Securities decision,
however opened the way for the law
f. break up some Of them. and the
c,ircncics Of fortune did for others.
Uarrimaus system was not broken
ap;r' until after he died. The Union
Pacific had to give up the southern
Pacific and now the Attorney General
:. trying 10 force the latter 20 give up
fine Central Pacific. Hill has been
gradually getting out of the Northern
Pacific and reports rccur with great
Frequency that the joint control Of the
burlington is TO be abandoned. The
Eastern roads in the Gould combine
;ion that were 20 have made George
Gould head Of the first real oceanic
ocean iiro have ceased TO be con-
~idcrcd Gould roads. Missouri Pacific,
IL IS said. will not pay it's assessment
on Wabash stock. and so must part
with It's equity. Elimination Of the
Gould family from the control OF the
Missouri Pacific is i'm the air. It. Will
cause few persons 100 the financial dis
trlct much surprise If II is found IN
the reorganization that divorce has
been effected between the Denver a Rio
Graudc and ITS Western Pacific.
II was several years ago that the
Rock Island lines gave up the profit
los. frisco, and now the Chicago
Eastern Illinois. "a considerable system
i'm itself is likely to part company
with The Frisco, too. The Rock Island
lines are 20 be recognized. not with
anv loss Of mileage. but with a great
scaling down OF capitalization. The
Roid-Noorc ambitions, which were
thought 10 include the Lehigh Valley
as we'll, have had their fall
New England Empire Gone.
The fate Of the New Haven system
l.I....... .t..,.. ....fI
- d" o,..'i, such a1 c,rnire in New.
I...'l,.f ~ WoIInn JreaTsd Of Tho
d. u p '.'.'' ,to;~o ;s ~ br said and tho
Ii ~ e+.,on,.bin lires ,,u.. hn
,onvi '"" . 49, o,hdr Lands urIo.s
.'' ,'r' 49,, 81, ham, ,.a,, ~ so,.;,.o.
49,, w. IJ,,.or Gam no r,i,nd
M" W la.o t%o lam oGicars ~
w.. ,' ,..'.,t Lroic, mn iIlcooj ,or.
~. h.,i ,boro arc nronosals j.,
'o."'''' 60, .tr,o ~, ,;,,.c a. Lro.i.