Rumors of big railway deal - IC purchase of WC & CGW

Illinois Central said to have practically acquired control of Wisconsin Central

- Special to the New York Times

Chicago, March 11 - The air was thick today with rumors of gigantic railway deals and combinations.  THe most important of these was a report that the Illinois Central had or was about to secure control of the Wisconsin Central Railroad.  Vice President J.T. Harahan, when questioned regarding the rumor, said he knew nothing of it.

It was asserted that certain large stockholders of the Illinois Central had bought privately a majority of Wisconsin Central preferred stock and were assured of a controlling interest in the common.  These purchasesm it was said, would be turned into the Illinois Central as a corportation and thus give the latter a line from St. Paul to New Orleans.

It is considered quite probable that the "Certain large stockholders of the Illinois Central" are E.H. Harriman and others associated with him.  Mr. Harriman being one of the largest stockholders of the Illinois Cental and one of it's directors.  It has been known for some time that the Harriman syndicate was trying to secure control of both the Wisconsin Central and Chicago Great Western.

NY Times March 12, 1901