The New York herald., 1876-12-17
ADVANCING THE RATES
Combination Of the Trunk Railroads on the
Freight Question.
IS THE RAILROAD WAR ENDED 7

The railroad officials OF the trunk lines met yesterday
At tho Windsor Hotel. The result OF the conference
n contract signed by william II. Vanderbilt vice
president OF the New York Central Railroad; II. J.
Jcwctt, receiver or the Erie Railway; Thomas A.
Scott, president OF tho Pennsylvania Railroad and MI
King, president of the Baltimore and Ohio Rail-
road. Tho provisions OF tho contract, though not
fully made known embrace, IL is said, advance IN
ireigh. charges and cessation for time at least OF
the practice OF cntting" rates. Tomorrow The ad-
vanccd rates VIII be promulgated.
East bound ircigh, from Chicago will be advanced to
thirty cen its per hundred grain and Hour, ana to
thirty ave per hundred fourth class and pro.
visions West bound frcigats viii be advanced 10 atty
cents per hundred rs class, and in The same pro
portion on other classes.
All through competitive rates viii be the on all
the lines. ON purely local rates, be:wccs Chicago
and New York. Baltimore and Phadcphia, Baltimore
will have ten per cent and philadelphia about seven
and half per cent less than Now York.
On the local rates between 81. Louis and New York,
Baltimore and Phiad.lpha, the discrimination agans,
this city will be about thirteen per cent in favor OF Bal
tmorc and about ten per cent in favor of
Phlladelphia
Tho action OF Mr.. Vanderbilt in the matter is
gardcd by many as a "caye inn to the opposition For
moro than six weeks past rumors OF compromise OF
this Kind have been adoat tho street Some Of
them founded on the TACT that several meetings
have been held before having IN view The object &C
complishcd yesterday Others were merely fabricated
for the purpose OF bulling the stocks Some OF the
afternoon papers OF yesterday denied that any settle
ment had made and accounted Tor the presence OF
tho representative OF tho Baltimore ana Ohio Rail-
road by connecting his with sale. Later
in tho day It became generally known
that compact had been made and there
Among stockholders and the bull element in the differ
ent roads there was OF course, congratuation IL is
not probable that the terms OF the contract extend
over the winter season, and when spring arrives and
the lakes, canals aud rivers open for navigation
there win probably be another break up and consc
qucnt rates. The suicidal policy of ''cuting"
rates has brought about the alleged settlement and
Is that Will last as long it proves advan
tsgeous to all parties nterestcd but that whenever
Of those parties finds II TO lis advantage to reduce
rates IT Will bc done.
MR. vAxpEGBiLr's ACTION NOT A coxcRssIoS
Mr. Samuel Sloan was found by reporter at his
othce, corner Of Exchange place and William street.
He cognzant OF the action OF the managers oil tho
trunk lines and had entered into conversation to
his view whether or not Commodore Vanderbilt's
action should be regarded CONCESSION to the
Others whom a friend came in. To this gentleman
who desired to have his naine withheld the reporter
was referred Tor more decided opinion on
the subject. general conversation ensucd
II was held that far from anything like concession
Vanderbt's action should be considered as u great
that this would lower rates now, and lower them still
moro when the present cold season succeeded by
warmer weather and the canals and lakes now closed
would be opened, and trade be carried by
well land II was thought probable that tho ex-
isting agreement had been entered into with tho IN
tention OF holding to II longer than during this
winter
RUFUS HATCH.
HERALD reporter called upon Mr.. Rufus Hatch, at
his oicc, Broad street, yesterday afternoon, 10
obtain his views upon the reported combination oil the
trunk lines TO raise the ratio OF ireghts its prob
nh
Alter little hesitation he consented 10 answer
the following questions on condition that hi state
ments should be taken down without even a verbal
alteration HIS general opinion upon the situation he
was willing TO express as iollows
at has been personal tight between the New York
Central and the baltimore and OHIO. do not believe
that Mr. Scott, OF the Pennsylvania Central, and Mr
Jcwet tho OF the Erie road, against this
settlement believe that Mr. Scott has done all
can legtImaeiy to advance the in the interest
OF the stockhodcrs Mr.. Garrett Will do that in the
end which will seem TO him and his board oil directors
advantageous TO the stockholders that he rep
rcscns There can be q combination OF the other
trunk lines to advance the rates in of Mr.. Gar
retts refusal The tonnage from tho West 10 the East
is than oil the through lines can accommodate
the present time, and Will continue TO be 80 TIL the
opening OF navigation mean by tonnage grain, live
stock and provisions OF all kinds
REPoRTER-what, In your judgment, will be tho ad-
vance in ratos from chicago 10 New York?
Mr. HATcH-From twenty 10 thirty cents on 100
pounds, which Is equivalent 70 ity per cent Of The
present rates. and II made on business principles and
after an equitable adjustment OF all differences. this
compact viii last forever; i made by seight OF hand
interest OF either party to break H.
REPoRTER-Bui, recognizing tho fact, Mr.. Hatch,
that you arc partially begging the question, IS u not
true that other compacs OF this character have been
violated by this same combination few days or weeks
after they have been made, ana is not the samo result
likely 10 occur in The present nslancey
Mr. HArCH--No. Stockholders Will take charge OF
their property at no distant day II their managers per-
sist in conducting business at n loss The amount Of
money invested IN railroad property, TO develop tho
country Is two and one-halt times the amount Of the
government debt. Railroad stockholders are entitled
to n lair dividend their investments just as
tany the holders OF government securities and
be permitted hereafter, TO determine the manage
ment OF these great properties. Tho large interests
which are stake beng gradually forced to the
wall and compelled to express power that must
eventually tell uron the plans OF speculative directors
REPORTKR--With reference TO the immediate future
in speculation as the result OF this change what are
your views!
GOING DOWN HILL.
Mr. HArcn-Wc have been going down hill for four
years until imports about $500, 00U COO less
than our exports Ii the Silver bill passesto make
silver legal tcndcr-and is signed ~ the President, 1t
is equivalent 10 printing SllO eco coo oil grcenbacks
per annum. We on the eve oi the greatest inna-
ton that has taken place 1868 In OF the
fact that the lake and canal cation VIII bc closed
until April May there every reason 10 believe that
both the New York Central and the Lake Shore rail-
roads will have all the employment Tor their rolling
stock that they can take care Of and u is but
natural TO suppose that they VIII make
better financial showing In consequence, at the
end OF that time, than they have been able
with the aid OF the centennial travel OF the
past six months How much mere manipulation may
have do with the changes in price am OF course,
unable to state In five years past the Lake shore
Raro-d has earned upward OF $4,000 600, as shown
by 'Ioor's Manual" The interest on their bonded
debt and leased lines does not exceed $2o0o0,000.
This leaves about S13 oU0C0 TO pay the running cx-
peLses and dvldcnds and to cXpcnd on the road IN
rails and machinery. This certainly proves that
lime. The condition or affairs generally,
50 lar as speculation is concerned, Is an