New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-07-30
RAILROAD INTERESTS.
THE CINCINNATI SOUTHERN

DISCUSSIONS CONCERNING ITS FUTURE MANAGE
MENT-NoTHING DEFINITELY DETERMINED.
meeting of railroad officers, said TO have been
called at the instance of Z. A. Ferguson of Cincm-
hat one OF the five trustees of the Cincinnati South
ern Railroad was held at the Erie Railroad Office in
this city yesterday afternoon The purpose of the
conference was to discuss combinations in amtci-
patton OF the leasing of the Cincinnati Southern.
The meeting lasted several hours, but no definite
conclusion was reached
Among those present at the meeting were PresI-
dent Jewett, of the Erie, and j. H. Devercux presl-
dent OF the NcwYork, Pennsylvania and Ohio and
the Cleveland, Columbus Cincinnati and Indian
apohs Companies. The Cincinnati Railroad Com
pany, which is better known in Cincinnati as the
Common Carrier Company. was represented by IFS
pr'sidert, William III. Clement its acting vice.
pfesiocnf, w. j. Lippmcott, and its attorney +. A.
ferguson, who Is also one of the trustees in behalf
OF til" City Of Cincinnati. The Cole syndicate
was not represented. Great secrecy maintained
III regard to the meeting and particulars about the
discussion were refused by those present. Ii was
said that Mr.. Ferguson desired to consult with the
officers of certain railroads which would be in
terested in the development of the business of the
Cincinnati Southern in regard to the leasing of the
road
lhe meeting was simply preliminary conference.
1t was said, and decided policy was agreed upon
1t is understood that Presidents Jewctt and
DcVereuX took the position that they would
oihd their companies TO no combination
and no definite policy until the conflicting
interests at Cincinnati had been harmonized.
They urged that until the city and Common Carrier
Company had decided fully upon their own policy il
was useless 10 talk about future combinations
winch nilght not be car led out. There was an
evident Intention on the part of of the persons
present TO commit these northern and eastern roads
I" deiinlte policy in regard Ia the leasing of the
ROAD and 20 obtain from them definite offer If this
was the purpose of the conference t was not carried
out successfully.
The Cincinnati Southern Railroad, which extends
TO Chattanooga, was built by the city under the di-
rectlon of Board of Trustees created
ny ny act OF the Ohio Legislature in Nav,
Iso3 The city authorized 10 issue
SlSoOO.oO0 in bonds for its construction. The road
was opened in February, 1880 1t is operated by
,he Cincinnati Railroad Company under temporary
license granted by the trustees. 1t is proposed to
lease The road for twenty-five years to the
highest bidder, and to secure control of the road
Is the occasion of no little rivalry among the con-
Meeting railroad systems One Of the persons pres
emf at the. meeting yesterday said: =" There is no
doubt that 70 secure the full benefits which the
city expected 10 gain by this enterprise the road
must DC leased tn some one interested in the
development of the property. The city hopes
To get from the rental sufficient to pay the interest
on the bonds and To establish sinking fund. This
Is "nt OF the question: in my opinion, and the main
question Is 10 ascertain how much or rather how
httie, the city will be satisfied with"