The New York herald., 1873-12-10

provement Of Present Railroads.&c.
Meeting in Washington Called.
meeting OF the Cheap transportation Associa
ton was held, yesterday, at the ofllce or the com
pany No. ITO Pearl street, the President d. B.
Sherman in the chair.
Mr.. Lees, the general agent, gave very en-.
couragng statement as to the accession of addi
tional members to the association.
REPORT OF THE COMMITTEE
The following are extracts from the lengthy
report presented; they give the main points OF the
document
The question of is at this time of the
most important Il not the most important Of the
business
e and se na that %
s Inc
% Mw @ sS the hS Of o s
ke against decline for months, because means Of COM
an var II This
Is flashed Nofh South ES; and G the ssn
steam hurrss the products N the
Sa venture 70 business s has Sseome
I'M Ssff aeS %s IN S
20 cents bushe in New York the market price 90
New York, bring from $40 e So y Ohio and West vr,
he door the q per tom in Pennsylvania within
spsStiysy sis and ton; These figures We're made
slight changes In the relative proportions yet IN the
also greatly enhanced in the Of the
tSs @ sasy 70 oap @
saass.sss ss s...s: s.ss:
s1s s IN s Ss In az
nieaon have been considered Of the greatest
IKE 81 ns afssaS @
ana the ghwas have always n % nsn
tained BY the most despotic goyernments Under re-
By
aS w saSh % S 10
each county then to each State and then to ali the States
body Of accomplish To-day the e
the post ONCE box ana forthwith is despatched on its
o on Sl the globe with
sources Of an empire at his call, can excel.
After setting forth at length the effect Of the
discovery OF steam, OF cooperation and the rail-
way system Of the country, the report proceeds -
PROMINENT AMONG THE DEFEcTs AND ABUSES IN OUR
PRESENT SYSTEM ARE:
OF railways without paid up capital
The natS1 ,u /. commonly known as watering Of
thereby making It necessary to unduy tax travel and
s. BY rings in their management through which both
Se 20 enaeh fe % nd
stockholders.
OF passenger and freight traffic over the same roadbed in
which the passenger traffic has the right Of way, thus
thirds Of the time when they should be rolling on to
The partial representation of the stockholders in
forsiby illustrated BY recent writer VINO s
ana
give the following as sample. charter Is obtained
money, form Company, issue copstracuon bonds Sc
%hat can shsn allow he ssy cents @
as s FSaa oaa a s S % int
less the bills but many fomtees not
nDdsrtake the at % they with the Board
ANA aSs
and BY arrangement, with the banker he settles
sas Ga r. sas Pss ~ DsT there
a OF e nc
and they get all the counties cities and towns along
@ nay % built and '' With rolling stoes S then
worthy friends Of the Board q divide the
rates for freight and PASSENGERS high enough
eed to os % sa the oSe OF Il @ ns an
o. their stock they to work and ogsnze freight
shes the road and enrches them 50 when
into nS they s to G il in
ment over again In sketchng the completion OF this
@ h SgHs Sg 70 say e a ee
made and not mile was graded or tie laid lot rail OF
driven but percentage went into the pocket OF The
After examining these defects in detail and with
elaborate comment, the report inquiries
WHAT PRACTICAL REMEDIES CAN WE PROPOSE?
After careful examination and consideration OF the
subject IL the opinion Of This committee that the de-
sired relief must come from =
es &c Ry ns ana our nn
Second-Compettion; which will complete and carry
out the reform % which legislation must inaugurMatc ate
Under the head OF legislation we must have the follow
]. Al law creating Board of Railway commissioners
who shall be clothed with power 10 establish resu
late rates tor transporting freight all railroads doing
business in this state and TO prescribe Uniform system
| 2 A law prescribing equitable system OF proper
ona or minority representation OF the stockholders IN
A law restraining railway companies from paying
interest or dividends beyond fair and Just return on
the actual cost OF their property to their stock and bond
holders, and compelling them to expend all sums in ex
cess Of such amount and what Is required to keep Their
ing expenses their moving. banding and terminal
facilities ,d tor public security and & and to
| are IN . perfect and completed condition
5 S
which are not competing points.
g. A Law prohibiting all railway companies from dele
gaang their business to separate corporations now
known last freight lines the entire receipts of which
do not go into the treasury of the road over which they
| run.
g. law 10 prohibit the leasing consolidation com
Dnaton OF parallel lines Of road BY which competition
destroyed and the peoples highways converted into
4 monopolies.
4 law prohibiting railway companies from acquir
operation Of their roads, and prohibiting railway com
panic: from ENGAGING in mining or any business Other