"Mop" Merger

While the Nickel Plate consolidation has held the headlines, another railway merger involving an even greater mileage has been quietly passing through its preliminary stages. When the Interstate Commerce Commission meets next month, the Missouri Pacific Railroad will apply for permission to acquire the New Orleans, Texas & Mexico Railway, by the issuance of $18,000,000 15-year 7% notes. With the N. O., T. & M., Missouri Pacific will acquire its subsidiary, the International-Great Northern. Missouri Pacific already controls the Texas & Pacific through ownership of $23,703,000 of its $24,676,000 preferred and $10,000,000 of its $38,755,110 common stock. In addition, Missouri Pacific (or "Mop" as it is usually known, from its ticker symbol "MP") obtained a half interest with the Western Pacific in the Denver, Rio Grande & Western when the latter road was recognized a year ago. On this basis, the new "Mop" system will include 15,000 miles of track.

Further roads will probably be sought later on, especially the Chicago & Eastern Illinois, which would give the system access to Chicago. The Kansas City Southern and the Louisiana & Arkansas Railway are not necessary to the system, although sometimes mentioned in connection with it.

The Missouri Pacific years ago was a "Gould road," and a link in the ambitious transcontinental railway system from the Atlantic to the Pacific which both Jay and George Gould projected. When, after 1907, this plan collapsed, "Mop" fell upon some lean years. Now the great southwestern merger, which it heads, promises to realize partially, yet in fact, the dreams which the Goulds had of its future.