The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-25


Decrease. $546 ,0GS 500 6H lat 068
The following published as the report and reso.
lutions Of the Railroad Convention at Cleveland.
We presume that it puts the Erie Company precisely
in the position desired by some of its directors,
namely the one in which it can do the most harm to
itself and its rivals -
RsPoRT COMMITTEE.
Whereas, Is deemed necessary for the profession OF
the railroad interests Of the country that proper rules
regulations be adopted for sustaining the prices for the
the following agreement has been entered into between
the seve'al railroads here represented
l. II agreed thai when there competing lines OF
reads between different points the rates Of transportation
shall be the by ali lines the shortest line fixing
the price, when canno. be mutually agreed upon; but
shall Dot be Al liberty to change the same without frs!
giving ten days notice TO the other parties interested and
having the countsnance Of the majority.
when lines composed OF part rail and part water,
the water route shall have the right carry such
scDaDly lower rates than the all rail route may be
agreed upon.
s. In any company companies forming through
connected line Of road any part thereof reduce the
price for the transportation Of persons property beox
the regular estacshed rate BIZ allowing commission
drawbacks otherwise the companies forming the lines
competing with aucb company line reducing prices,
sba reduce prices passengers 70 the rate snd
81 ger freight below charged by such CON
psny companies first reducing such reduction shall
each received Of the regular established rate and the
company companies forming the connected line with
the company companies 6rat reducing prices shall
"
freight the road foads OF company companies
reducing prices and shall refuse permit such
sepger ic els over it or their roads, or receive such
tickets for fare when sold until such company
psnes shall restore prices TO the former rates. 70 the salts
faction Of competing line or lines.
On motion Mr.. korius Gad report WAS accepted; and
tbereupon, after full discussion of It's various provisions
by vote Of companies represented IL was unanmoosy
ADOPTED and IL mooned tina. the adoption should be
ding upon the panes represented from this dat
without any formal execution Of agreement between
them.
ON molten Of Mr. Bridges tho following resolutions
Whereas, the New York and Erie Company having re-
duced the OF passengers fare between Buffalo and
New York and having refused 70 place the fares back to
Re,olved Ins, Ibis c,e falls within the sense Of The
agreement c, adopted and toat the action sc. fora in
the agreement oe put in force on Monday the 26o Instant
sgsinst the said Etc Railroad.
Resolved, That the procsco ngs OF t5s convention bo
printed and copy forwarded BY mail to AL companies in
interest, and thor active operation N the provisions OF
the agreement requested by the day named The New
York Central Railroad agrees 10 regulate s intercourse
With other railroads. by the terms OF the agreement tns
day eueTed into BY the representatives, Of certain railroad
ccnpanies Ia this city and pursuance OF the provisions
Of that agreement, viii at once Withdraw all facinee
both freight and passengers and decline al business with
any and all railroads. whether represented In the
tou not who do not strictly conform 70 the letter and
spirit Of the agreement
We read in the Buffalo Courier
The Supreme Court Just made m interesting deci
son With regard 10 bank checks. Tho touer Of the
Butchers and Droyers' Bank certified check when the
drawer had net cent OF money IN said bank The cheek
into the hands OF the plaintiffs for valuable
scalon In due Of burmese the bank refusing
Ray, they brought their actou and the court held the
bank liable the Law, settled for centuries that the prn
cpa liable for the acts Of his agent acting In the usual
course OF hs employ ment
Mesarrs. Hewson 4 Holmes, Of Cincinnati, report
as follows respecting the money market in that
city,
We have 10 report . active stock market;
prices rner and Gales reer and fuller at In
instances improved prices. Tho abundance Of money
seeking employ ment, together win the improving pros
pect many OF railroad securities, very naturally
turning tho Of capitalists in this direction which
resulted Increased sales. Money continues great
abupaapce for updoubsed paper be had god
terms for second and third rate signatures
are high and well maintained Eastern exchange abund
ant 1T 70 y premium, with very limited demand.
New Orleans very scarce, with some fee sales 81 Z 10
X prtmium. St Louis without change. Gold n very
quiet with sales, except In retail way. Business
generally presents more cheerful appearance. For
Grain the late sdvccs from Europe regarded ve~y
favorable and vii result In increased shipments abroad.