Rensselaer Semi-Weekly Republican, Volume 19, Number 99, Rensselaer, Jasper County, 19 August 1898 — Big Four-Monon Deal. [ARTICLE]

Big Four-Monon Deal.

New York, August 15.—The Times publishes the following: That Yandej-bilt interests have obtained control of the Chicago, Indianapolis & Louisville railroad—the .“Monon Route” —is generally believed in railway circles, although, for reasons of their u wn, the parties most interested refrain from openly admitting the fact. The deal i 3 so nearly closed that well-informed railroad men of high rank have official information that the “Monon” is now practically owned by the Big Four system. The Big Four is out-and out Vanderbilt property. Its lines, though much more extensive, traverse pretty much the same territory that is covered by the Monon Route, and the union of the other two systems is generally regarded ns advantageous to both. In acquiring the Monon the Big Four obtains a more independent entrance into Chicago than it now enjoys. At present the trains of the Big Four run into Chicago over fifty-six miles of the Illinois Central’s tracks, for which privilege a stiff rental is paid. i The Chicago, Indianapolis <fc Louisville Railway Company, which is the outcome of the reorganization, last year, of the New Albany & Chicago, is part owner of the Chicago & Western Indiana road, which has a valuable terminus iu Chicago. The Monon route includes 537 miles of railroad, the two main lines running from the ludiana State line to Indianapolis, 162 miles, and from New Albany, near Louisville, to Michigan City. There are five short lines, three of which are operated by this company under contract. These contract lines afford entrances to Chicago and Louisville. The merging of the Monon into the Big Four system will result in a development of traffic more profitable to the carrying lines than heretofore, and it will add strength to the Big Four system in various ways, as well as at the Chicago terminal. The new Chicago, Indianapolis & Louisville Company is capitalized at $16,000,000 and has a funded debt of $13,800,000.