, 1874-04-07
Their Boards Of Directors. Have De-
cileii to Resist the New
Railroad Laws,
Leading Eastern Lawyers De-
clare Them Unconst1-
tutiona1.
!, Meeting in Relation to the For
tict1 Parallel Road.
RESISTANCE TO NEW RAILROAD
- I.AW9

RESISTANCE TO NEW RAILROAD
LAWS.
Special Dispatch to Ths Chicago Tribune.
New YonK, april MIR. s. s. Merrill, General
Superintendent Of tho Milwaukee, d st. Paul
Railroad, and .1lr. II, u. Porter General Super
lutendant OF tho Chicago l. Northwestern Rail-
nay, woro in this city during tho creator part Of
last week, md Saturday afternoon thoac gentle
men, who have tho management Of over 5000
miles OF railroad, attended 3 joint meeting Of tho
Boards Of Directors Of those two corporations.
Besides tho full Boards thore were proaeut
Measrs. Charles OConor, 3. r. Curtis. William
II. Evarts, Z. r. Hoar, aud tia regular attorneys
Of the Companies, together with tho Hon. Alex
anter Mitchell, who had boon summoned from
Washington for this special purpose.
OBJECT eF THE a1EET1No.
Tho meeting had boon called in order that the
Boards might consider what action 1t WAS ad-
yisablo for them to take in regard to the now
Railroad or Granger laws OF Iowa, Minnesota,
and Wisconsin. 1915. .'. :.
EFFECT OF LIVING UP TO TIE 1Aws.,. -
AfoeBrs. Morrill, and Porter made statements to
the effect that 1t would be impossible to operate
the roads of which thoy have charge undor those
laws. or to run them 80 as to pny expenses.
They agreed In giving 1t as their belief that, it
the laws we're lived up to, the roads would no
mora than pay expenses, and certainly could not
pay anything to the stooltholders, even II they
could pay tho interest on tho bonds. They said
that tho operating oxpenaeB wero fully 76 per
cont Of the gross receipts and that the reduction
Of froightB resulting from an enforcement Of
these laws would dlmininh the receipts 25 par
cont, which would result almost inevitably ID a
failure to pay interest on tho bonds, SO that tho
roads would ho lost to the Stockholders and
taken possession Of By tho bondholders. 4
Legal. OPINIONS. -
Tho laWB In question Wero then read to the
lawyers present, and wore carefully considered
BY them. They were unanimous In their opin-
and would never DO sustained BY the United
States Supreme Court, although theY might
bo by the inferior State and Federal Courts,
which wore surrounded and, to q oertain OK
laws, In their opinion, wero nothing moro or
less than ACTS OF confisoation. Their opinions
arc to 30 revised and written BY then', and will
sorve the roads hH their justification for the
course they intond pursuing. -
ACTION OF TIE DoAnDB
The Boards Of Directors, after hearing these
full and explicit statemente Of: thor Managers,
and the opiniona Of tho lawyers, unanimously
resolved to resat tho law, and instructed their
managers to 60 on and run tho roads upon bus-
uesa principles for the benefit Of tho Btook-
holdors, fixing such passenger and freight ratea
~ might seem to thom best for the interest Of
the community and tho stockholders, aud to pay
no attention to tho law whore 1t contlictod with
tle opinions they had received from the lawyers.
Il
The question waH asked by one of tho Man.
agera aB to what course he should pursue II tho
agent Of his road at any point Woro, under tho
provialons Of any Of thuao lawa, to bo Indicted
and punished with tino or imprisonment. It Is
believed that tho question WAS not definitely
answered, but Bomo Of tho Directors Beemed to
be Of opinion that tho course to pursue in auch
D case would be to shut up that Office whose
ngont had thus beon punianed. and to lst the
tralns run past it.
THE FoRTIErH PARALLEL Rail-
ROAD,
Mr.. George W. Burns, member of the H.
inois Senate, has written letter to tho Denver
Iribtine, speaking Of tho merits Of the Fortioth
Parallel Railroad. uo thinks that in aome
shape or form it will succeed. It was in its
infancy at present, but would soon assu1ne pro-
portions, and command the attention OF our
national councils. He strongly urges the busi-
noss-men and property-owners Of Denver to
lake an interest in the enterprise, and. II the
road ia to be built to see to it that Denver
shared in tho benefits, or else tho enterprise
would be aplit cast Of thoir city and gonorth aud
eouth Of 1t. Ho suggests that the Board OF
Trade or some other competent authority take
some action ia tho premises and appoint COM
mitteo to attend a mcoting to bo hold at tho
With the following circular issued by tho Chair
man OF tho Executive Committee OF the Fort1eth
Parallel Ra,lroad So =:
OFFICE EXECUTIVE CoNas1rTEE,1
FonT1ETH PA1.ALLEL RAILROAD,
=. QI1NcY, ILL.,, March II, 1874, ]
DEAR s1H: Buch numbers Of tho Executive COM
mittee, and 10 anuounce that tho meoing will take
Place at tho Leland Hote Springfield, Ill, April II,
Members aro requested to consider meantime, what
% 10 prepared and submitted to Congress at ~ early
day, and to lave ready for presentation such sug-.