Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1878-06-19
Vanderbilt Breaks the Pool.

The convention of the general man
ayers Of the western railroads, which be-
gan in the Windsor Tuesday morning,
broke up in disgust yesterday, and its
members left for their homes dlsappoint-
ed and not little indignant, prepared
to cut and break the rates which had
prevailed, as much and whenever they
shall hereafter see fit. A good deal
was expected from this convention
Three months ago the western man.
ayers agreed to a pooling of tonnage and
under the pooling arrangement, rate
of freight was established which it was
believed could be maintained. The
pooling of tonnage was supposed to haYe
been honestly and satisfactorily carried
out by Commissioner Guilford. The
meeting called for this city was con-
vened on the very day the pooling ar
rangement made in March expired.
The attendance on the convention was
large, and the body of delegates was
considered one of the best of represen-
tatiye railroad men ever gathered to-
gether. Reports we're heard of the
working Of the pool and opinions were
expressed favorable to its continuance
on the basis which had governed the
lines since March. On the other side,
hesitate to say they did not believe the
pool could be longer maintained unless
new assignment of percentages could
be agreed to. Commissioner Guilford,
who saw breakers ahead, backed out of
the coming storm by offering his resig-
nation. 1t was finally decided to leave
to the executive committee the task of
arranging new and satisfactory basis
of percentage. This committee, consist
ing of Mr.. Newell, of the Michigan
Southern, Mr.. King, and Young, soon
found that an agreement was utterly
impossible. There were but 100 parts
to divide, while to satisfy the DIFF
ferent managers there would have to be
at least 115. The executive committee
reported that no percentage basis could
be agreed upon. Then followed very
warm and exciting debate, which was
ended by motion to adjourn sine die,
which was carried. Among the mem
bers Of the convention remaining in the
city the discussion over the failure of
the managers to agree is still animated.
Ore manager who has charge Of
western road as receiver said he was
bitterly disappointed, and particularly
indignant because the Chicago men
had insisted most strenuously upon
having the percentage of freight they
had demanded. He had sent dis
patch to the west, the substance Of
which was that" the lines leading from
Chicago having failed to agree on a
division of tonnage on easv-bound
freight, the convention had adjourned
without reaching any conclusion, and
leaving every road free to do as it
pleased" Others who attended the
meeting were convinced the convention
was never intended to be success.
These men held forth a theory which
fits into all reports about Mr.. Wander
bits recent negotiations, and his not
yet published determination to control
as much freight business as he can
without regard to pools. The Michigan
Southern was one of the most grasping
Of the representatives of the roads
leading out of Chicago. This road is
under the control of the New York
Central, and its manager has recently
consulted the president of that great
corporation, probably with regard to
this very matter. Mr.. Ledyard, of the
Michigan Central, which is about to
pass into the hands of the New York
Central, was also attainable. Obstinacy
was all that was required. Enough OF
it having been exhausted, the pool
breaks up, and the men who have the
greatest number of roads and the
largest amount of capital at their com
mand will get thes most bushes. With
the Lake Shore, Michigan Southern,
Michigan Central, and the Atlantic 4
Great Western to feed the Central, the
pool can, it is said, be detied until all
the other roads are driven into the
hands of receivers.-N. Y Times