The New Bloomfield, Pa. times. (New Bloomfield, Pa.) 1877-188?, 1879-02-18
what is a RalIroad Pool z

Much is said of late about railway
pools. TO "pool" the business of com
peting roads Is to introduce kind of CO.
operative system, SO as to secure for each
an equitable proportion, thus doing
away with the motive of cutting rates.
1t is a modern improvement, approved
by some as cordially as 1t is denounced
by others. AS generally understood,
pooling Is in the interest of the stock
holders, and to the detriment of those
who profit from competition. In other
words, it infllcts upon the public the
evils of monopoly, qualified by the ad-
vantage of uniform rates among the va
rious shippers. The plan, in brief, is for
the several corporations commemorative
trunk lines acting as principals-to fur
nish the ''Pool Commissioner, or chief
officer in charge of the pool, with man
ifests of the freight carried by them res
pectlvely from day to day, afiording
data from which to determine whether
any particular road is receiving business
in excess of its proportion of any special
class of goods. If SO, the excess is cor
rected by turning over the surplus to
other roads of the combination, by off,
cial authority. The amount to be thus
turned over is decided by taking the ag-
gregate of the business " captured" in
given time by each of the parties of the
pool, prior to the organization, as basis
for calculation. Each is entitled to an
amount proportioned to the business
done when working independently. AS
to details of the arrangement, it can be
said that no two pools are worked on the
same plan, the system varying accord
ing to the caprices of managers. To
meet the expenses, each party must pay
pro rata, corresponding to its share of
business.
The New York pool under Commits
sioner Fink, heads the list in score or
more East and West, this officer usually
acting as chairman in all important de-
liberations. He is man of large expe-
rience in railroading,a German by birth,
and, up to the time this pool was estab-
lished, some two years ago, was vice
president of the Louisville and Nash
vile railroad. He holds the appoint
ment for five years, at a salary of $lO,-
600 per annum. Under him are secre-
tary and fifty-two accountants, who oc-
cupy a suit of offices on the highest floor
of the New York Life Insurance Com
pany's building, wholly removed from
observation. The obscure sign on one
of the doors, the narrow wooden stair
way, and all the appurtenances of the
place, indicate desire to be let alone,
while the chief and his clerks quietly,
but assiduously manage business of
enormous proportions.
The pool for west-bound freights has
worked satisfactorily in the main, toll
cradle regard being shown by those con-
cerned for the rates agreed upon, but as
regards east-bound freights, it has been
found very difficult to gather freights
from all directions, from territory so
widely extended, and bring it under sim
gle control. Especially has this been
true in the face of the intrigues of steam
ship agents scattered all through the
West, who make independent through
rates to Europe, often obtaining rebate
from the railroad companies, thus caus-
ing much demOralization.- IRON Age.