The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-12-31
MERCHANTS AND FREIGIITS.
THE CHEIP TRANSPORTATION As
SOCIITION'S REPORr


Arfhlgntu tstuNe thurRer III heinttOn
the Management OF n Great Railroad.
At a special meeting of the directors of
the New York Cheap Transportation Associa-
ton Yesterday. report was presented from the
Committee ON Claims and Grievances relative to
recent determinations az inst this city. The
committee said that It a meeting ~ merchants
Interested special committee was appointed to
confer with the chief executive officers Of the
New York Central Railroad. The officers Of the
New York Central did not yield to a conference
until the force of Duolic opinion, aided ny the
action Of other trunk Ines had caused a reduce
tion In rates to point even lower than those
ruling from Boston. The committee deemed
this unwise and ~ much toward one extreme
a. the former rates had been toward the other.
The committee were not In favor Of rates
low that they would not pay fair and even
! liberal return capital actually invested,
nor were they In favor Of rates high
that eight per cent. dividends could he paid
| upon capital Of twice the amount ever paid In
hystock and bond holders. "a was the case with
the New York Central Road. The committee
also dissentcd from the view expressed by Mr.
! William II Vanderbilt that the speci / contracts
| with New YORK shippers properly protected New
! York interests that up To the present special
contracts hat been rulng az 20 cents. and no
| large shippers had suffered by the change. which
| had really been made 10y the comptnes 70 Sc
! cure me Heating business, and winch they knew
/ would n 4 interfere WITH the general trading IN
| terest. On Nov ., after much Gchberatiun, II
| had been decided ny the managers 81 the New
YORK roads to put the rates At % cents, DehcVng
/ tntt the merchants would not be ahe TED unler
/ tneir contracts, which dad not expre until Jan.
! l. Il ich time ~ was supposed that aunform-
| i.y in all western thtes would be securc4.'
WHAT MAY HAPPEN.
The committee say. in answer to Mr.. Wander
biz. ih't not nilA does tlts practice OF giving
Tpe 6Ht ID /. drec pren,iun to other dis
| trbutnr points Co. divert the c1unerc, tnat
would otherwise come 10 this market.
We believe l-o tNc' 1t furnishes a satisfactory
teun why certain prominent citk.ns tuN4tiI-
bly side with tine rdlroad. when que tiuns q
rates ate turd; hut while u may be . the
Temporary interest 90 the favored few, II Il 10
| the detrimcn' Of the public as whole. and II
driving from this city the great middle class Of
business men ana hoJsehoders upon whom the
| prosperity OF tn ,Vity 80 largely depends. II the
| present state OF things IS long continued. the
| business OF New YORK VIII consist Of a few large
| houses in each branch 81 trade, and her resi-
denccs either brown stone mansions or tenement
commerce. amt a,.o to rival government. are as
/ yet uut tmpctfec-l ~ understood. md ~ IS the
settlad policy 0f these siC It powers to keep the
luNii. a- much o., possible in tuo dark IN reg rd
to tuctr operations; where thew think 1t TO tncIr
Interest 10 couciuate they 90 so: special rates
are gwen TO favored shptcri, ana free passes
90" -lvCu ,. matter n tuf-H TO legislators and
othe. inn lc1till citizens. 50 long a. the public
reu,iiu MASSIVE, ani only ask ~ '0yors t.a; rates
hiht ~. the ui1ndr,rs Of these great mt rics
tutYugu whites tIr isfr hllli u our cumWcrce
r.tl.u- ma,, amy ,ifurt icnlin. {, throw III any
raft 90 tae tut'cus vni'h nave gradually teen
fut "uon Che 20, OF to reduce Tie amount II Tx
imuustl O. trliapnftatil 10. the wNue influence
movement and u pains are spared To- crush H."
LARGE sHirrEits or rErfGHr.
In reply 20 tr William II. Vauderhilrs init
NATION To- reporter tnIt the s,ociftiln " $
nut DO isr.cntat,te OF ia" cuisines. iu;rgr-ts Of
Nc~ Nork. tor TIVE directors thereof disinter-
cs, .G ga tn,ir action. the committee say that the
NJ, uners at the ASSOCIATION ship majority OF
Me- NindorbtlI- road. hut op the other trunk
lines. and that tine charge would come with
/ better grace ana with greater force from
/ which sigualiN.i its ohttniuc control Of
one uf our rini, lines hy watering its stock to
the extent of nsary city millions ~ dollars,
! tuuu whirh the uurlic nave pild dividends IN
eight years Amounting t. ABOUT thir., millions.
his I"n!ii have used thelr great political
power To obtain from the LEGISLATURE u
law eranu"s mem, free OF cnArsei he
city. AID not satisfied with this, obtained
snntner law compelling the city to pay them
S'-V''v toward hlut- IL lor tuelF uses sum
wt.cI competent eugin crs estimate WAS SUM
cirut To pay tue entire cost OF said i'm
b,rua le, the Hudson River Budge Company, At
An NV, tool, from the lockets OF the stock
puolc IN the year ls,i alone, upward Of a
million dollars more tlan the interest on
tue cost OF sad bridge. Ihis bridge cou-
pany u not, as many people supp &c, a COM
poncut part VI the New York Central Railroad.
but is c, ntrolled Toy the Nanderbii;s, aud Is one
Of tue credit Moliler Institutions by which the
revenues OF that rod are kent down to a
point tnat VIII onlY Yield eilht yer cent.
ON - stock. Every ton Of freight passing that
brcef' We ar informed pays a toll OF nity
IA "a that II ten ~ the largest business houses
Iu tats Cit,. How many sGcH iusttuuous there
arr ati .,hcl io this r1ad We do not know, but
ing Tar tomunny, the 'Starin River and har-
nor itansp'rw,on C'll tmy' winch htn III a
rad, anu there ore douNtiess other, wnIcA have
not some to oar notice.