Rensselaer Journal, Volume 11, Number 48, Rensselaer, Jasper County, 8 May 1902 — MONON'S NEW DEAL. [ARTICLE]

MONON'S NEW DEAL.

Great Interest Controls and Will Operate With L. & N. The Chicago News says: A new railway f-vstem, embracing the Monon and Louisville & Nashville, will soon operate between Chicago and New Orleans. It is learned that John W. Gates and those working with him have secured control of the Monon. This was done by buying $3,000,000 worth of stock in the open market and by the purchase from General Sam Thomas of $6,000,000 additional at 72, giving the Gates syndicate $9,000,000 of $15,000 000 of the capital stock of the road. The purchase was mude wit h the idea of getting entrance to Chicago for the Louisville & Nashville. The new company which will probably he called the Chicago &New Orleans railway company, will oper nto toe two roads J. P. Morgan & Oo will finance the deal.