The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1879-12-23

uodHuOnHeHJ Ol SCueuules, 50 Ihr us cast
bound freights are concerned, the country
has ever witnessed. and at the same time, at
last, by such adjustment of the differences,
growingOut OF thesharp competition which
has characterized the last few years, as has
secured the trunk lines the most satisfac-
tory condition they have enjoyed in long
time.
The desirableness of terminating pol
icy which had nothing about 1t but disaster
to the interpretations involved, in the early
winter of the pas year, led to the forma-
ton of pool between the trunk lines to
the East, which should continue in exis-
tence for five months. This, however, did
not live out its time, but fell to pieces by
virtue of its own weight before the conclu-
sion of the period named, and was followed,
in east bound freights, by complete demor-
alization. The cutting from March to June
was without precedent. Freights were
carried at fabulously low rates, heavy
freights at times having been taken to New
York, Baltimore and Philadelphia at 714
cents per 100 pounds, while it 10 said that
to the last-named city shippers, in some in.
stances were permitted to name their own
rates. which reduced the charges to mere
nominal matter Such condition as this
however, had the seeds of cure within it.
self, for 1t led to the formation of pool
between the trunk lines, by winch an equi-
table division of business vas agreed on,
and by which provision was made for the
submission of questions OF difference to
arbitrators, which would remove the con-
tests from the arena of the rsads immedi.
ately interested. This went into operation
Oh the 9th of June.
Living rates were established, and the set
tlement, alike beneficial to all concerned,
bears witness of having been permanent
The west bound pool, which was esta5-
lished two years before between the trunk
lines to the seaboard, has worked in an enl-
inently satisfactory manner throughout the
whole period, g., much SO that early in the
present year the roads interested agreed to
its continuance for O period OF five years.
In the roads running westwardly from Gin
cinnati the pool which vent into opera
,ion on the lst of May, 1878. on west-bound
ireights without working disadvantageous-
ly to shippers, has secured uniform rates
and removed a spurce of great irritation to
the roads In east-bound freights on these
roads, there has been, at times, great COM
petition, but this was modified in the late
months of the year, by II better understand
| ing and by the increase of work to be per-
formed by all. In the roads to the South,
a definite arrangement with the boats to
which allusion has been made in SO much
of this article as pertains to the river, has
secured in that direction also uniform rates.
Taken as a Whole, and especially in the
light of adjusted vital differences, the year
may be regarded favorable one 70 our rail
road interests.
The removal of the vestiges of the great
wars which bad been carried on for years,
marked an epoch in the history of rail
roading; but to this were 10 be added the
abundant barvests, which began to move
early, and which taxed the roads bey ond
their facilities, and the great awakening in
business which as warmed every interest
int, an activity it has not felt since the de-
preston commenced. With the promise
OF plenty to do, living rates, and with the
roadways and appurtenances Of the rail
roads tributary to this city generally in ex-
cellent condition; with the long looked for
trunk line to the South substantially COM
pleted, and the country already touche'i
with the dawn Of new day OF prosperity
in which great railroad pr, jects, in hich
this city is directly interested, are to reach
elimination, the year closes under circunl-
stances more favorable to TIE railroads OF
this vicinity than have been enjoyed for
many long years.
The important feature of the railroad
situation is the near approach of the sub
stantiaI completion of the Cincinnati
Southern Railroad, with all hat this CON-
summation implies. Under the contract
made in the preceding year with R. G. Hus-
tun d Co., for the completion Of the Road
from Somerset to Boyce Station, on the
Western Il Atlantic Railroad, distance Of
l72 ITO miles. the work has been progress
ing since the last report. The original con-
tract provided for the completion # the
work BY the 20th of August, 1879, but this
was subsequently extended to the 10th OF
the following December. From Boyce Sta
ton the Western & Atlantic will be used
for running INTO Chattanot ga, distance ot
six miles, until further arrangements are
made. At an early period Of the coming
year, the work will be SO far progressed al
to allow Of the opening Of the Road fol
business from Cincinpati to Chattanooga, q
distance of 1886 miles. The past year la.
: witnessed change in the Company oper
ating the Road. On the 9th day of Sep
tenber, 1878, the Trustees of the Roat
gave notice to the Cincinnati Southern
Railway Company, that had been operat
{ ing the same, that they would terminate
| UlCll hCChoC oA tLC Avn "a GhO DAoASh AVA
, ing.
: Subsequently, temporary arrangement
: was made with the company to continue
/. the running of the road, it being, however
provided, that the interest to be allowed
: the company on its capital stock should b.
= per centum per annum instead of 10 pc
S centum, as in the original license. On TIL,
e 26th day Of the following April determin
able license was granted E. W. WOODWARD
t and associates. consisting of proninen
e business men and capitalists Of Cincinnati
Q authorizing them to operate the road iron
r Cincinnati to Somerset and on such add
k tional parts of the road as might be com
pleted by the Trustees, out of their Owl
q funds, the company being allowed interes
i ut the rate of per centum per annum o
g the amount Of capital actually paid IN
s The new company, known as the Cincin
# natl Railroad Company, has a capital stoa
h of 81, ,OOO 900, $500, 900 of which was orig
r nally paid in, the remainder to follow. j
v the discretion of the Trustees, as the nece'
!, sites of the road should demand it,
q The agreement between the parties pre-
Is v;des that the license shall continue unit
r. six months after the completion of tn
g whole line OF the Cincinnati Souther
| ord tho leasa thereof for teri