New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-04-26
RAILWAY INTERESTS.
THE FREIGHT POOL AND FREIGHT RATES.

THE FREIGHT POOL AND FREIGHT RATES.
Details connected with the east-bound rail-
road pool Mt Chicago were discussed yesterday at Com
missioner Finks Office by the general freight agents anu
traffic officers OF the Chicago railroads Inc
companies represented were the b"'''"'o.o
and Ohio the PENNSYLVANIA Comp"ny' ,no
Lake shore the Michigan Central the
Canada Southern and the Grand Trunk OF
Canada The principal question before the meeting was
the proposed addition to the Chicago pool oil 'he east
bound traffic arising AT the neighboring to"hS Ill ooN
County ILL., From these places business ho"s oh W NV
Chicago roads near that city, constituting anouE NV
entering Chicago virtually part Of the through rac
NJ I,,io ction Yyas taken although it was sad aher-
ward tsat all OF the roads favored the measure II 'h9
coptiouons traffic included in the pool il wei eAer'
o,c effect ON the proportion allotted 10 each 81 inc
Ch;,o onl nes but claimed that there Wli pe no
en ho Variation N the relative percent age- Im@lay
The freight officers viii meet with the passenger
of their roads to discuss steps Tor Pl'is 'no P'f
Chicago passenger pool into operation ri, ,,5 MT
IL ha been asserted that the Grand Irlmk Woia l n
assent the pooling ARRANGEMENT az '' , ,,I,ic',
allowance for the shortage IN rs ai' ll' - a.
"YIsfrd when the old pool was violently u9r'Peu, ""
gcther with all schedules OF rates py th aupu "
iist summer Under the old agceneh the D'"l ' IN
ra, heavily hcnipd and its deficit is considtranc III
amount II "a not believed. ho"ctci th" IBIS question
is Of gntidc sulic ient 20 mp nc p'.s ~ ~
say the subject last evening was. cur CON i".i
ia perfect harmony with the couii'7iohtf 1ho 'at p.
trouble TG1i1ii mere 10 "o ''''''' ''''
Charges that the railroads arr not mainta ming east
and western shippers. They are "a pofsl~i'hF uell
bv railroad men. The main argument used 9y
.he MA" uact ['"' Of the east-bound business
DO yoI .uppO-c," said trunk line manager y'S'cr
day. that o,si bound shipments Wynld be 80 sna MS
r., go disr,tcn r, otirg To recent rcrmina-
iions between the Lakc shore and inc Pehl.yiV'nAa
f-rcj an "ncer OF the Pennsylvania Company lat
evening said II is true that We recently complained
against each other that rates Wee NOT beiS
bat on gntion the fact could 10. be e'l3D9n1u
II was found that the same slipper Lad gone 20 the 'ih
shore and raiG that the Pennsy Fana was cuthg ana
come 10 Us and charSd thai 'e l""e '"Io was h"'''
That all there was 10 It, ,,,.-..
CORNERSTONE Fiuk said yesterday that there had been
some little uisundcrsiandings ana nsapptt AAl2i ne
tween ne roads which had been Satisfactorily explained
and adjusted.
INTEREST PROBABLY NOT To BE PAID.
If WAS rumored in Wall Street yesterday
that the NewYork City aud Northern Railroad Company
wcud probably default ia the payment OF It's May Ill
tcrcst Directors Of HE company were reluctant TO us
cass the mltter hui they admitted freely That the
company had not earned the interest soon falling due
The president of the company said that the interest had
not been earned by IA large amount whether 1t would DC
paid or not lie said thai he was not in position 10
state A member tine Executive Committee Shu t'l"'
negotiations were in progress which mght chaDlc 'nc
company 10 meet the payment A. 20 the nature OF the
nections H. decline 10 speak, bu he expressed some
confidence that they would be brought to successful
termination. broker, who said that he had hal some
f the bonds of the road since 1870, remarked have
attended the funeral OF this road three times and am
willing TO go one more - 81,
The road eNenus from the terminus or me
METROPOLITAN Elevated Rallroad at Onc-hlndTed-9hm-
nffy-Gflst to Brewster distance of hitlwo M g.,
Two years ago the company Issued si.OoO,Uoo
general mortgage bonas running thirty yeaaiS
and hearing 6 per cent interest, Of wllcl
S4Gi. 800 was r,sc1cl to retire outstanding
bonds former issue six months interest Oh tleac
general NOR gaze bonds VIII fail due On Aay l. Al tDe
StO.k Exchange ycstcT lay single bond eoid IN 90 b
il was SAT- that any considerable amount Of Che bonds
would moi bring much 30, and au on T"c broker
asserte that lie would be glad 10 lind buyer even III
fnat price. 4 few weeks the COMPANY
placed second mortgage OF S2OOOOOO on
lis propcrtv. but tlcsc bonds have not brcp
norltcd In the NEGOTIATIONS that said t. be gOiS
Oa these second nor, lgc bonds may play part. ,
Tie control the stock OF the northern loid Is Ii.
Inv The WORK Loan and Improvement Company, bat
officers OF the later company said yesterday mat tt
had yet decided whether the interest "oi u PAN"