, 1874-01-11
:'. RAILROAD NEWS.
The Proposed Railroad
T.. >. Clearinghouse.
Interviews with Chicago Rail-
road~Men on the. Subject.
They Generally Consider It Prema-
.. trre OF Impraoticable.
Township Investigation Of the Affairs
Of the indianapolis, Bloom
ington T. Western.
The Springfield & Gilman Southeastern
in the Hands of a Receiver.
German Bondholders of the Davenport
& St. Paul Seeking for
Their Money.
Through Freight to Des Moines---The
Canada Southern. Boom
Tille Bridge.
Through Freight to Des Moines---The
Canada Southern--.The BOOM
Tille Bridge.
THE CLEARINGHOUSE,

| .@7E AtcAHlNk-f1UUSe.
The scheme Of Il. E. Sharpe, Corresponding
Secretary Of the EA;;;.-y Association Of America,
to establish railroad clearing-hous similar to
the one in England il considered impracticab1e
BY the principal railway officials Of this city.
Only one fsvcss the project. and he does not
think tho time has yet come for it's adoption.
1he machinery necessary to run such an inatitu-
ton would be too complicated, and railroad
interests are 80 conflicting that it is moro
than probable that = general railroad clearing
houae will never be establiahed. Very few Of
tho officials hare given the subject much
thought, and hence we're reluctant to EXPRESS
positive opinions They we're, however, willing
to speak generally, and the interviews with
several are aubioined:
MIR. HARRIS.
The reporter first called On Mr. Harris. Gem
eral Superintendent Of tho Burlington l. Quincy
Road. In reply to the question. j" What do you
think OF the practicability Of Railway Clearing
House ?" he said he had not thought about
It, He intended studying it, however.
There we're some difficulties that were
peculiar to railroads, and such a
large territory was covered that it was i,npossi-
bic to ttevise system which would ba accepta-
bio to all the roads. There would always be =
majority interest. For instance, take the mat
Tor Of commissions. 1t was absurd to talk
about that, as some little road would step in and
make 1aa ak ne ~ 5lg ones recognize them The mil
lennlum had notyet come. and no road that had =
valuable property was going to divide it with au-
other less valuable, unless bettered by the
arrangement. The point to be consid-
stss " sHs ssoa profits i '' ot n'fi lis p:S Tasd
would favor it. No business was done from
philanthropic motives, and if the Clearing
House would prove beneficial to the roads they
would adopt it, otherwise they would not The
difficulty in the way was that road Of compara-
tiEely small Importance would interfere with the
arrangements which other roads might ba dis
posed to carry ont.
n Newell r. P9ssdsnt SsahS at TN S5Ta Illinois Central
Tas next visited. He knew nothing
the C1eazine-House system was an
admirable enc, one that Was bound to be estab-
lished for the use OF our railways when the
time came. When that time was to be le could
not say, as he had not thought Of the matter |
He had examined the English Railway Clearing
House, and considered it one Of the best insti- !
the working Of the system to him, and 10 WAS |
never more pleased with a commercial a1raoge- !
mept than with this one. It WAS systena |
which must necessarily, before many years, bs
adopted in this country.
Reporter-Do you think the scheme practi- !
cable in this country?
Mr.. Newell-Entirely practicable.
ests3
Mr.. N.-Why should there be ? The clearing
house merely makes tho divisions agreed upon
by the different roads. No Information is fur
nls1ed about the private agreements OF the
roads. It ls not established for that purpose,
but simply for settling accounts, and tho bus
mess Of the roads #ould ba as secret ga that OF
The mercantile agencies.
ME- 4. E. PORTED.
Mr. h. Fl. Porter, General Manager Of the
enough about the project to give an opinion.
He believed in clearinghouse, as rule, but did
not see how the roads which wanted to know
heir daily earnings could be benefited by it,
Through its agency they would not Learn what
hey earned On certain day for month. Be-
great, delay would result. 4 general
clearinghouse WAS impracticable, but be favor
ID q clearinghouse in Chicago to transact the
business of the roads terminating here On the
lame principle that it was valuable to the banks,
t TSould be beneficial to the roads. =
MIR. LARRABEE.
Mr- William II. Larrabee, Treasurer OF the
It. Louis d Alton Rond, thought one advantage
Fould be the bringing OF weak railroads !
ito time" They would want to come in.
nd would be obliged to settle their accounts
romptly. The main objection against the pro-
ect waa, that the " miscellaneous accounts !
investigate and straigbten them out. Generally
10 considered the scheme inpracticable. Tbs
machinery would be SO intricate that, in hia |
pinion, clearing house would be mora bother
ban it Was worth.
No Que could be found at the ofices Of the
rho considered himself competent to give an
piuiOn uDOn thA suhiact