New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-27


great satisfaction with results of the re-
cent railway conference at Saratoga. lie
said the pooling system is working well, and
will result in benefit to the general
public as well as to railway owners
He anticipates a revival of business in
the Fail. He said the New-YOrk Central has
ordered 500 new cars, and the Erie 1000 to
meet the expected demands. He declared that
he does not wish to injure any other road or
the Erie Canal, and would not have the latter
closed if he could.
THE WORK OF THE SARATOGA CONFERENCE.
THE MEETING A GRBAT SUCCESSIVE POOLING sYs-
TEN WORKING wELL-THE CHANGES BENEFIT
The RAILWAY OWNERS AND THE PUBLIC.
TFRoM SPECIAL CORRESPONDENT OF THE TRIBUNE.
SARATOGA, n. Y, Aug. 26.-"What is the opinion
of railroad managers concerning the results OF the
conference just concluded ~ was an inquiry adj
dressed to William II. Vanderbilt by TRIBUNE cor
respondent to-day.
Every one who took part in It," he replied,
considers il to have been great success, and is
pleased with the results. never attended one that
was so satisfactory. The system followed was
different from that pursued at previous
conferences. At this one questions to be
settled were referred arbiers and committees and
forehand to be bound by their decisions. A reason
able and amicablo spirit was shown throughout the
proceedings. There was not the least inclination 10
quarrel No sharp remarks were made, and no
bitter replies received, as at other railroad
meetings"
What was your motive in favoring this confer
ence ?"
"The desire to do something for the benefit of the
great number Of shareholders who receiving lit
tie return from their railroad Investments and to
take steps to save railroad properties which have
been almost ruined by excessive competition, low
rates the payment of commissions and giving free
passes to freghters. was not alarmed about the tu
ture of NewYork Central but twasimportant to take
action which would prevent the ruin of some of the
Western roads by unwise rivalry for business and
unremunerative rates"
DO YOU think an extensive advance in rates adj
visable Z"
"The increase should be no greater than will be
sufficient to secure a far return to the com
panies | have always opposed, and shall
always continue TO oppose, raising rates be-
yond that point Some companies might want
to go further. When such an advance gives them
moderate profits they may desire to take another
STEP to raise their figures little higher in order to
enlarge their gains. That disposition is only natural
and IL seen in all departments of of business in the
conduct of little thread and needle store as well as
in the control of great corporation. But shall
always resist any increase of rates beyond the point
of fair returns to the companies. To go beyond that
will result badly in the end"
THE POOLING SYSTEM WORKING WELL.
HAS the working of the pooling system in West
bound freights been satisfactory tnat it is desir
able to extend it 10 the East-bound businessP
yes" answered Mr.. Vanderbilt. 81 IL has worked
IT, lou ffyna Ia tha
plan of pooling in railroad affairs but after thor
ough consideration of the whole subject
l came to the conclusion that 1t was
the only way TO save many of these rail-
road properties. The lines west of Chicago have
had pool for two three years. and it has been to
tho advantage of all Of them. Pooling has been
found 10 be the best the other side OF the
Atlantic also and has been practised thore for
years."
"You claim, Mr.. Vanderbilt, that the New-Ycrk
Central has special advantages for doing large
business cheapIy. Could it not do more without a
pool than with oneV
"Yery likely, but it is better 10 do somewhat
smaller business with rates which yield talr re-
turn than to carry an immense amount Of freight
Mt prices which DO not pay. Moreover in allottlng
the percentages in the pool, the CentraPs
facilities for transporting great quantity
| Oi freight
connection, the Central could undoubtedly geta
larger proportion of the total business of the trunk
lines than IL would have in pool. But competition
has tendency to become excessive, and the effects
NJ railway wars are very injurious to trade gener-
| rally "a well as TO the railroads Pooling has adj
vantaqes and disadvantages Also but the former far
outweigh the latter"
"Do You believe that increased freight rates from
tbe West TO the East can be maintained in the face
of the opposition of the canalp
"Certa,nly | do. The New-York Central is not
hostile 10 the Erie Canal. / would not have
the canal closed If l could Much freight
now comes to Buffalo on its way TO the
seaboard that would go to Philadelphia OF Baltl-
more if il were not for the great facilities for reach
inc Underwater from Buffalo. The canal is very
mportant element in attracting freight to the sea-
| hoard by way Of Buffalo, and when the freight
reaches that city the railroads will get their share of
| it."
"Is the condition of business such as to Justify an
| increase of TatesW
| "In nv opiuion there will be sufficient business
| during the next six months for all the railroads
and the Erie Canal also. The lines canEot now
| simply cars enough for the demands upon them'
| This week | have contracted for 500 new ones.
! The Erie I am informed, has ordered 1000, and
many other lines are finding 1t necessary to
| increase their rolling stock This Will stlmu;;
late the iron trade the lumber trade and
other branches of industry. o., Reports OF
! short crops in Europe, especially the wheat crop
~ Franca and the potato crop in ireland, show that
there viii be a great demand for American food
nroducts and consequent activity iOr the RAILROADS.
~ Iooyino them. Moreover recent observations
! have convinced me that there are encourage
| mo ugns of a revival of business generally,
and look for fair Fall trade Ihere Is heaIGmer
faiing among business men. The rush to the SUM
er resorts shows that times are not so bad as many
| neople think. | was recently IN tho Wmte NOUN
| toins ana all tho hotels there were very full.
| The landlords had not known such season for
I vears And the Saratoga hotels have been very
| nTosperOtls this Summer"