New-York tribune., 1922-10-20
No Rail Merger Is
Likely Until After
Hearings by |. G. c.
Burlington, Great Northern
and Northern Pacific to
Formulate : Views Against
Separating These Carriers

Nc railroad merger ia likefv - !,
approved by the Interstate Conn, n,aroa
Commission until it has conn,a.
hearings on it's tentative consolidation
plan made public in August, 1891 a..
cerding to railway executives wbo ~
oeen IN close touch with rece,t =.
Veiopments at Washington. Furtber.
MORE 1t was learned from these
sources yesterday that the final pro,n.
ings OF the nations carriers bv IN.
commission will in all probability nro.
vide the basis fer whatever mercers
are promulgated.
The hearings on the tentative MIA,
to begin in Washington on November
IA are for the purpose of ascertsinir.
the views of the Northwestern groun
OF roads, the most important of which
are the Northern Pacific. the Bur);ng.
ton, the Great Northern, Chiraro :.
North Western, and Chicago. MiIw.nS
kee d st. Paul. The opinions OF the
carriers in the Southeastern s.ctio,,
OF the country We're presented before
the Interstate Commerce Conimission
last June, when the Illinois CENTRAL
practically accepted its grouping. pro-
vided \that the terms of consolidation
could De agreed upon.
l. c. &. Tentative Plan
Under the commissions te,ts+,,a
plan the Great Northern would he
inKed up with the Chicago, Milwaukee,
q st. Paul, leaving the Northern pa
cific and the Burlington to form the
nucleus of another Northwestern mon
competitive group.
Bankers identified with the nurInr
ton, Great Northern and Northern pa
enc have been in conference with Off
Gals of these roads the last few days
Tor the purpose of formulating views
which it is hoped will convince tho
commission that those propertics
should not be separated, mainly he
cause Ct the interlocking character of
their financial structures. and should be
lett to form a system of their own.
Reports that the Chicago, Milwaukee
q st. Paul would be included in such
a merger were not only discreditcd bv
these interests but by officials of the
St. Paul road as we'll. r. j. Maronv,
vice-pfesident in charge of the New
aork Office, said yesterday he bad no
knowledge that any negotiations of
this character were being carried or.
n. e. Byram, president was quoted
IN st. Paul dispatches to the financial
district as saying: 1--WE have not def
niteiy decided what attitude we shall
take In regard to the commissions
plans for railroad consultations.
Prefer to Go Alone
A banker who has been prominently
identified with discussions relating to
financing of the Hill roads in the past
asserted that the Great Northern.
Northern Pacific and the Burlington
preferred to go it alone. He said he
had heard nothing of negotiations that
would include the st. Paul In that
lineup.
He pointed cut that it would he q
difficult matter to obtain the approval
OF the Interstate Commerce Commits
sion to so far-reaching combination.
even ii the carriers desired to bring
1t about, and that the terms CT the
transportation act do not authorize the
commission to combine all the impur-
tant carriers in SO large territcry
into one system.
Opinions generally in the financial
district yesterday were that it would
be matter Of several months before
any proposals for any railroad merger
could be whipped into definite shane.
Even should an agreement be reached
between any group of carriers with
the commissions approval, the poict
was stressed that the terms Of ac-
QUESTION of individual roads would be
problem that would be difficult Of
6 solution 49,