Show I DIFFERENT PlAN fOR RAil MIL MERGER N. N P. P and G. G N. N Will Not Follow Out the Illegal Policy of 25 Years Ago NEW YORK Jan 20 De AP-De- In the last few da days s supported b by a joint statement by officials ot of the two companies seem to have quashed definitely recent reports that the proposed huge Northwestern raIlway merger would resemble In form the plan started twenty five years ago and declared illegal by the government The new ness plans definitely do not contemplate It was announced the establishment ot of a mere hOlding company This fact makes whatever proposition is accepted for the the merger necessarily different from the Northwestern SecurIties company Incorporated November 13 1901 In New Jersey to act as a holding company for the stocks of the Northern Pacific Railway and Great Northern Railway companies That company formed to invest In and hold securities or of other corporations corporations cor- cor was waR declared in March 1904 bY the United States supreme court to he be a combination in violation viola viola- tion ot of the antitrust act and on April 21 1904 stockholders voted to I reduce the capital stock and distribute dis- dis tribute the securIties It Is understood officials ot of the Great Northern and ot of the Northern 1 Pacific in iii theli theil discussion today toda will center attention ona plan gen gen- oral cral details of which were announced announced an- an Tuesday TO LEASE LINES That plan contemplates the formation for fat mation of a new company which will not only through stock ownership but will Involve leasing of the lines to a single operating carrIer which h also will directly operate op- op crate erate the Spokane Portland Seattle Seattle Se- Se attle Railway company compan The Chicago Burlington Quill Quin- C cy 97 per cent of the stock ot of which is already jointly controlled by the two northern roads will probably remain separate as at present Officials ot of the roads pointed out that the sort of unification considered considered consid- consid ered has general federal approval The transportation act a joint statement read has provided for fOI acquisition of control ot of one carrier carriel by another through stock ownership ownership owner owner- ship and lease without complete consolidation and the interstate commerce commissIon has sanctioned sanctioned sanc- sanc extensive by bystock bystock stock control and lease Any plan must meet the approval of the directors and shareholders ot of the various properties of the interstate interstate inter inter- state commerce commission and of the public itself In other words said an official any plan must be in tIme the public inI interest in- in I terest to be really workable and I successful |