Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1868-05-20
DAVENPORT, IOWA. WEDNESDAY. MAY 20. 1868.


UOAk..COMP8rGrA
EprroRs DRMoCRAr: Gentlemen My a.
tention has been called to an article from
Mr.. p. L. Cable in your issue Of the 10th,
in explanation of his past and present posi-
tion on The question of q sale Of HE road TO
the Peoria and Rock Island Railroad Com
psuv. with On absolute reservation off right
on his part, (rortA more tim tts OsenersAip
Of the road he nov holds), that il. he rstaia-
ing his own engines and can. which the
company must use on . time table 70 Be
made b them, b1e - rats f0v track ss5sies
TO be fixed BY disinterested umpire. which
rate, II fairly made, would be almost NOM
inal, being only sumciens to pay Tor the
on the proportionatc cost OF the expenses Of
keeping up the same track fnr al the other
business Of the company. On the surface
this looks like fair business arrangement
between Mr.. Cable and the Peoria and Rock
Island Railroad Company, and % the CON-
psny would be ct liberty to draw coal for
other miners on the same terms. many
would infer that the interests of Rock Island
and Davenport would be secured by COM
petition but slight glance will show the
claws of dangerous cat under the harmless
meal, for under such an arrangement Mr..
Cable would be substantially strengthened
in the monopoly of the article % indtspensa
BILE to our growth in msnufactures, and free
from heavy burden he must now carry
alone, In order to exclude other dealers from
reaching market; for instead OF keeping
up all the embankment, bridging. tues, in
shoulders, and he plsced In . position to
crush competitos Who had to pay In the
ordinary way for the transportation OF their
coal, for no we'll managed company will ex-
tend to numerous parties the privileges he
stipulates to retain but II they did the an.
tecedents Of Mr.. Cable justify the inference
that ha would use the advantages he pos
sesses and the means 10 has aCQuired by
post high prices 70 break down Opp0sition,
and then levy the cost Of that effort upon
the consumers OF coal.
cannot tell what Mr. Cable has private.
~ proposed or promises the Peoria and
Rock Island Railroad Company, bat know
what he refused 70 promise ata public meet
ing Of our citizens for after hearing hts re.
marks that he would cell any property for
money enough. including the Rock Island
and Peoria Railroad, and that he would
lease 70 . disinterested party, the rate he
should pay for track scrriee. l found some
persons understood he Was willing to leave
the whole matter 70 disintefested companies
and would sell unresefvedly. l put Ques-
tions to him, - did Mr.. Drake, which,
when answered, showed that he would not
sell out and put himself In the hands of the
company - any other dealer, and that he
did not propose to arbitrate, - to whether
he should sell hts rolling stock. With such
reserved rights he would cell his road and
take % much or more stock - We would
take, but not one word showing be would
surrender full control Of his business.
In other words, Mr.. Cable b willing 70
cell his elephant to some ono who will
house, feed and keep him at their risk. with
. contract binding them to hire the animal
TO him % much % he neecs. at price not
fixed by the owner but by disinterested
party.
After the meeting referred to. In order to
scddt, Mr.. Drake, the full extent of the r..
fusal OF Mr. Cable TO surrender the power
of control. asked Mr.. Cable In his pres
ence whether he would name any price for
the r. l. & p. X. K. and his rolling stock,
or whether he would leave to arbitration
that price, without any reservation. He re-
piled promptly and emphatically, Il will
not" A. that time told Ar. Cable that
he we'll knew, if such Q contract was made
a. he named, not another mine would be
opened on the line Of the road, or single
company be organized TO transport coal TO
this market except at a price satisfdetory to
him, and still challenge any refutation Of
this point. and believe that the people Of
Davenport and Rock Island will not sustain
the Peoria Rock Island Company in
making any contract with NS. Cable by
virtue Of which the interests Of manufac.
turers and of all consumers of coal will be
subject TO his will-indeed, they gave
public pledge that they would NOT.
The people Of Davenport have no private
apimosity to Mr.. Cable or HE road, but
they mean 10 take measufes TO secure an
abundant supply Of coal. and trust to the
law Of demand and supply for the price.
after securing competition and after having
new mines opened instead Of old on es
closed
II the Peoria Railroad comes oy way of
Moline. this object ia efFectually attained
and Mr.. Cable will still retain all the advan.
tage of ownership of mines, road and roll
ing stock under his exclusive control; but
if surveys show that the best route is via
Coal Valley and Camden, it will be cheaper
for the people of Moline, Rock Island and
Davenport to build eleven miles of new
road and give it tc an untrammeled CON-
pany, than to permit any extension or even
continual on OF the policy which keeps
down two cities tor the advantage OF .
single individual.
WM. II. HOLMES.
DAVENPORT. May Is, 1868.
Desiring to give Mr.. Cable fair show,
We give his side Of the question:
Mr. CABLES erArRmRNT.
''In the oonvsrsotiensl luded 70 above by
Mr.. Holaaes, it is but justice to say that
Mr.. Gable stated that tho cost Of keeping
up the embankmsnt, bridges. ties. &C., on
the line Of bis read necessarily had to be