Railroad Consolidations

For some time there have been rumblings of extensive railroad consolidations to come. The dreams of E. H. Harriman and other great railroad masters of 20 years ago are likely to be realized with the approval rather than the opposition of Congress. The easy money period now apparently inaugurated makes conditions auspicious as far as financing goes, and security dealers, investors and speculators are thumbing Professor William Z. Ripley's proposed scheme for rail mergers with eager interest.

The most surprising merger suggested has been the acquisition of various branch roads by the formerly disrupted but now promising Missouri Pacific. Now Southern Pacific enters the lists with a proposal to acquire the El Paso & Southwestern, and hints that it will next try to obtain the Rock Island system.