The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1876-10-19
Baltimore and Chic Railroad.

STATEMENT FROM PRESIDENT GARRETT IN
REGARD TO GRAIN TRANSPORTATION
AND RATES.
At the regular monthly meeting of the
Board of Directors of the Baltimore and
Ohio Railroad Company, held at their of
flee, Camden Station, yesterday:
President Garrett stated that the rev.
enue of the main stem and branches in
Guiding the Pittsburg division, for the
month of September, had been 81 COS, SOY
Sc, showing an increase over the revenue
from the same sources for august of
SCOT, 772 n. This large revenue was again
very satisfactory, in view of the low rates
which had been continued under the ac
ton of the New York Central road. The
trade was still very heavy, and the pass
enger traffic showed also large Increase.
Mr. Garrett said that much interest had
beer manifested in regard to a meeting
recently of representatives of many of
the leading railways Of the country in
New York, and he deemed it proper to
state the facts so far as the Baltimore and
Ohio Company was connected with that
conference. 1t had been enormously stat
ed that he (Mr. Garrett) had participated
in that meeting. In response to requests
from leading officers of several of the
most important roads he had requested
Vice President King to meet them, for the
purpose of aiding in establishing remu-
neratiye rates.
As this request came also from the most
respected and controlling officers Of the
principal connections of the New York
Central road, it was reasonably supposed
that that company desired to make such
arrangements as would produce result
demanded by an almost universal public
Judgment After being thus invited to
conference it was found, although the
representatives of the Canada lines, the
New York and Erie and the Pennsylvania
were present, no parties appeared who had
authority to represent the whole line be-
tween Chicago and New York.
Statements were made on behalf of the
New York Central that the representa-
tives of the other trunk lines had been
misinformed as to the supposed demand
of the New York Central road to make
equal rates from the centres Of Western
commerce to the seaboard cities irrespec-
tive of distances, but as, after consuming
the time of the officers who attended this
conference, there was no particular evil
dcnce that the New York Central road
had abandoned what was understood to
be its policy, the conference necessarily
proved fruitless. 1t was clearly shown
that the Western connections OF the
New York Central road felt that the in
terests of their stockholders and bond
holders were being literally inundated by
a policy which time will certainly show
to be capricious, as contrary to common
sense as long-established principles, and
impossible to be maintained. 1t was evil
dent that they were entirely dissatisfied
with the policy of the New York Central,
and they plainly showed a wise anxiety
to bring about restoration of rates to
remuneratiye standard.
The folly of the present recklessly
unremunerative rates established by the
New York Central Company from Chi
cago is shown by the fact that large guam
titles of grain are being delayed at
that CITY from the inability of that
road and its connections to transport it.
The Baltimore and Ohio Company finds
nae for its entire equipment in the trans
portation OF grain and other merchandise
to Baltimore. Larger rates are daily Of
fered to it to take grain to New YORK than
tho nominal rates OF the New York Cen
trail road, because Of the blockade at the
West /. but in consequence Of the pressure
of this trade to Baltimore It finds it neces-
sary to decline these shipments to New
York.
The statistics continue to show that the
po,icy of the New York Central road in
6x;ne such low rates for the transporta-
ton of grain. and bringing about railway
at such rates, is constantly
the business Of Baltimore and
at the expense OF the trade
If New York. These statistics prove the
decreasing business Of the New York and
Eric canal and the aggregate diminution
of the grain trade of New York and the m
crease of the grain trade Of Baltimore. The
e,oncial exhibit for the past six months
was presented by the committee OF n.
ance. and the usual semi-annual divldnea
Df five per cent. on the capital stock OF
Inc main stem was declared. baltimore
Sun.