In March 1890, another subsidiary of the Northern Pacific Railroad bought the C&GW along with several other WC lines in the Chicago area, consolidated them all as the Chicago & Northern Pacific Railroad (C&NP). The next month, the WC had itself leased to the Northern Pacific. As they were both controlled by the same railroad, the C&NP and the C&CT were linked together with new construction and trackage rights. The lease arrangement between the Wisconsin Central and the Northern Pacific worked until the Panic of 1893, when the WC was freed from the lease, and the C&NP was again placed under the control of the WC. Weakened by the prolonged economic downturn, the C&NP was bankrupt by October 1893.