The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-07-10
MR. y4NDkRBILr ExPLIINIy0.
What Lake Shore Promised and what Mr..
Russell sage Confidently Expected.

SARATOGA, July 9.-To-day's preliminary
meeting Of railroad representatives was rs
they call it. q mere family conference none
but officials Of the roads controlled 10y W. II.
Vanderbilt being present Tho meeting was
held early in the forenoon in his parlor at the
United States Hotel A general meeting is 10
assemble tomorrow aud poss ihly extend over
day more. The Erie and the Baltimore and
Ohio roads will not be represented Tom Scott
has also sent n telegram 10 say that lac could
not attend. but promised that Vice-Prosident
Cassatt would come tomorrow in the interest
Of tho Pennsylvania road. Tho various COM
panies are represented follows: The Lake
Shore 10y John Newell. General Manager; the
Michigan Central by II. b. Ledyard. General
Manager; tho Canada Southern by j. TillinG-
hast, President the Great Western by L.
Broughton General Manager: the Fort Wayne
and Chicago by its Vice President j. n McCul-
Tough. and the Indianapolis and ~. Louis by
the President. H. u. Hurlburt. and the General
Freight Agent. ]. Noyes. Mr.. Vanderbilt Is at
tended by ]. II. Rutter. J. b. butcher. and T. Z.
Chambers OF tho New York Central board. His
two sons. Cornelius and William. reached
Saratoga to-day. in company OF the counsel OF
the Central and Hudson River Railroad. the
Hon. Chauncey NJ. Depew.
The preliminary conference proved 10 have
been harmonious one. Mr.. Vanderbilt having
declared to tho Representatives Of the Lake
Shore. Michigan Central and Canada southern
roads that II they could not manage to arrive
nj an agreement he would make up AN agree
ment for them. The object OF the meeting Is
somewhat vaguely stated 10y the parties con.
cerned 10 bo consolidation OF the interests of
all these roads with ths New York Central. and
Of dcvising means for NOR" profitable man
agement Of every one OF them. Outside OBJ
is simply a prelude to war To tho knife between
tho Central on the one hand and tho Erie. the
Pennsylvania, and the Baltimore and Ohio on
the other.
referring to statement made last week by
| Russell SagN, and published e THE sun, that
| he had been deceived by Mr.. Vanderbilt in re-
gard 70 the earnings OF the Like shore Rail
| road, Mr.. Vanderbilt said: mover deceive
: anybody Before went to Europe last spring
| Lake Shore promised fairly To make three por
probably told Mr., Sage, ~ told him ANYTHING
| AT all. Since then the receipts showed falling
! of, and we were not able TO pay more than one
! per cent. The great lAl llhg oil during the last
! two months was Ms much 4 Surprise to me MS
! i; was 10 everybody else. Still | maintain that
! the last statement Of the Lake Slerc is ~ salts
factory as any made before. II We paid out
less money 10 tho stockholders We have invested
| some Tor ihem,
A member of Mr.. Vandcrbllt's party, heinG
| present ut the conversation, said; The best
| tNins about Sage is that he does not own q
| share Of Lake Shore stock. lie nOld n pile of
| puts and expected that "" would keep up the
| price for him. When the boys began 10 put the
stock to him llo began to Growl and talk about
! the stockholders being dclrnuded. All he
wanted WAS to keep in his pocket the money
| which the poor fellows had paid 10 him for the
puts II hs had been enabled la do 50 Lake
Shore would have been in his eyes the best
managed road in tho world, ana lis stock lhe
| expressed his approval Of this Interpretation
| by a hearty laugh.