Show BIG RAILROAD DEAL PROPOSED union pacific to be taken into the systems new york dec 20 the new york tribune says it is reported that a combination ol 01 the system east of chicago with the chicago northwestern and the union pacific systems may be under consideration the new fork central will under such a scheme exchange its 3 per cent collateral trust bonds for chicago and northwestern preferred and common at and and for union pacific preferred and common at and 50 respectively the mileage of the new york central system would then stand at with a bonded debt of three and one halt per cent collateral trust and stock the grand total of fixed charges woud be according to the latest published returns and estimates the net earnings after rentals and taxes would aggregate tor the system leaving a balance of after fixed charges or about fifteen per cent on new york central stock the report that the lines east of chicago might be combined with the chicago northwestern and the union pacific is by no means a new one and seems to be not improbable although the joining of forces is not likely to be effected for a good while to come the consolidation of the new york central and lake shore roada it Is understood has shown results so satisfactory to the interests which brought it about that they are planning to extend the plan to the michigan central and other lines of the system while the chicago northwestern Is not actually a part of that system the virtually control it and their holdings of union pacific securities are so extensive that they are influential in the direction of that railroad system by increasing their investments in union pacific to an extent necessary to give them control they would have a fine route to the far west by the new york central and the west shore to buffalo by the lake shore and southern and the michigan central thence to chicago from chicago to omaha by the chicago northwestern and from deaha westward by the union pacific the union pacific Is still regarded as most likely to be the purchaser of the chicago alton if it should take over that road its own subsequent absorption by the vanderbilt system would give the latter an alternative route between chicago and the tar west as the alton extends from chicago to kansas city the terminus of the kansas branch of the union pacific which joins the main line at cheyenne |